Key Points To Watch Out For:

• Hims & Hers shares fell 16% after reporting that it will stop offering compounded semaglutide
• Strategy and other cryptocurrency-related stocks fell after bitcoin fell below $90,000
• Cleveland-Cliffs lost 4.5% in premarket trading on optimistic forecasts for 2025

Hims & Hers Health (HERS): Semaglutide Withdrawal Impacts Share Price

Hims & Hers Health shares fell 16% in premarket trading after the company announced it would stop offering compounded semaglutide, the active ingredient in Wegovy and Ozempic, after the first quarter. The decision may affect its growth trajectory in the telemedicine sector.

Zoom Communications (ZM): Disappointing Forecast Weighs on Shares

Zoom shares fell 5% in premarket trading after its earnings forecast missed investor expectations. Despite steady growth in subscribers, the company faces challenges in monetization and increasing competition.

Solventum (SOLV): Acquisition by Thermo Fisher Generates Interest

Thermo Fisher Scientific (TMO) is reportedly close to acquiring the purification and filtration division of Solventum in a deal valued between $3.5 billion and $4 billion. Solventum, spun off from 3M last year, is now attracting attention in the healthcare sector.

Coinbase (COIN), Strategy (MSTR), and Robinhood (HOOD): Bitcoin Decline Affects Crypto Stocks

Cryptocurrency-linked stocks declined in premarket trading as Bitcoin fell below $90,000. Strategy, formerly known as MicroStrategy, disclosed a recent acquisition of additional Bitcoin, but this did not prevent a drop in its share price.

Cleveland-Cliffs (CLF): Weak Results and Decline in Sales

Steelmaker Cleveland-Cliffs reported wider deficits and decreased sales in the last quarter. Although CEO Lourenco Goncalves forecasted a recovery by 2025, driven by Donald Trump’s policies, the stock fell 4.5% in premarket trading.

Today’s Earnings Highlights

Today, financial reports are expected from Home Depot (HD) and Keurig Dr. Pepper (KDP). Investors will closely watch Home Depot’s results to gauge the performance of the U.S. retail sector.