Check out the companies that make headlines before the bell. Pharmaceutical Stocks – Stocks in US companies in the pharmaceutical industry have fallen after President Donald Trump said he would announce “major drug tariffs” late Tuesday. Pfizer and Merck shares fell by more than 4% each, while Eli Lily passed over 3%. Apple – Stocks fell more than 2% on the market, and continued to fall after a four-day streak after a tech giant’s sacrifice of about 25% of market value. iPhone makers are the hardest hit among the “magnificent seven” companies as Apple relies on China. Retailers – Many retail stocks fell before the market opened after China announced retaliatory tariffs on US goods amid uncertainty about the potential impact of tariffs on trading partners. Target, Best Buy and Home Depot each slide about 3%. Walmart – Big Box retailer stock fell 1% after Walmart subtracted its operating profit outlook in the first quarter. The company expects sales to increase by 3% to 4% over the course of three months. Automakers – Automakers’ stocks have fallen as Trump administration tariffs on dozens of countries took effect overnight. Ford and General Motors skated 3% and 2% respectively. Constellation Energy – Energy Provider shares rose almost 2% after an upgrade in City to buy from Neutral. The bank said Constellation’s recent slides have created compelling risk/reward. – Reported by Sean Conlon, Sarah Minh and Michelle Fox of CNBC.
