Check out the companies that are trending in pre-market trading. Delta Air Lines — The airline’s stock soared 6% after its fourth-quarter profit beat expectations. Delta Air Lines posted adjusted earnings of $1.85 per share on revenue of $14.44 billion. This beat the estimates of analysts surveyed by LSEG for EPS of $1.75 and revenue of $14.18 billion. The company also provided strong guidance. Walgreens Boots Alliance — Pharmacy stock rose 11% after first-quarter results beat expectations. Walgreens reported adjusted earnings of 51 cents a share on revenue of $39.46 billion. Analysts surveyed by LSEG had expected earnings of 37 cents per share and revenue of $37.36 billion. Meanwhile, the company maintained its adjusted earnings outlook for fiscal 2025 in the range of $1.40 to $1.80 per share. Constellation Energy — Shares rose 9% after it was confirmed that the company will acquire Calpine in a deal that includes cash and stock. Constellation also beat analysts’ expectations for full-year adjusted earnings per share. Edison International — The Southern California utility company fell 2.7% as deadly wildfires continued in Los Angeles. Edison denies any involvement in the wildfires, but his insurance company is still demanding that evidence be preserved. The move comes after Edison shares fell more than 10% on Wednesday. Allstate, Travelers, Chubb — Property and casualty insurers fell as insured loss estimates from the Los Angeles wildfires inflated. JPMorgan estimates that this wildfire could end up being the largest fire in history, with losses exceeding $20 billion. Allstate fell 5% in premarket trading. ON Semiconductor — Shares fell 2.7% after Trust Company was downgraded from buy to hold. Trust said he remains cautious on the stock until expectations are revised downward. Archer Aviation, Joby Aviation — eVTOL shares fell more than 3% and 6%, respectively, following two JPMorgan downgrades. The bank changed Archer’s stock to neutral and Joby to underweight, noting that both stocks have underperformed in the clean technology sector as the market shifts to a risk-on environment. Sunrun — Solar stocks rose 4% after UBS upgraded the stock to neutral buy. The bank said Sunrun is becoming the clear market leader as the residential solar power market stabilizes. Hims & Hers Health — Shares of the digital healthcare platform fell 3.2% after Citi downgraded the stock to sell from neutral. Citi said investors may be overestimating the revenue streams associated with GLP-1. Roku — Shares of the streaming video platform fell 3.6% after MoffettNathanson downgraded the stock to sell from neutral. The investment firm said investors were overly optimistic about the possibility of a major company acquiring Roku, and that continued weakness in the advertising market could hurt profitability. Sweetgreen — The salad chain rose 3.5% after Citi upgraded its stock to buy from neutral. Citi said its California-based company’s robotic kitchen could boost its finances. Wayfair — Shares soared 5% after the company announced it would exit the German market and cut about 3% of its global workforce. The moves come as the company focuses on new growth drivers such as brick-and-mortar retail. Capri Holdings — The parent company of Jimmy Choo and Michael Kors rose 4.9% after two Wall Street rating upgrades. Citi raised its rating on the stock from neutral to buy, and Wells Fargo raised its rating from equal weight to overweight. — CNBC’s Jesse Pound, Samantha Soobin, Ha-Kyung Kim and Michelle Fox contributed reporting
