On this episode of Stock Movers:
- Elevance Health (ELV) is the biggest downside mover this morning after Centene Corp. (CNC) pulled its 2025 guidance due to insurance market trends that differed from its assumptions, threatening $1.8 billion in revenue. Both shares are diving lower. Centene also reported a "step up" in Medicaid costs, which it expects will increase a key measure of medical expenses in the second quarter.
- Verint Systems (VRNT) is higher in the premarket as buyout firm Thoma Bravo is in talks to acquire Verint Systems Inc., a maker of call center software, according to people familiar with the matter. Thoma Bravo is negotiating the terms of a potential deal with Verint, which is working with an adviser, said the people, who asked not to be identified discussing confidential information.
- Apple (APPL) shares are higher as it gets an upgrade on Wall Street. Jefferies raised its recommendation on the tech giant to hold from underperform. Analyst Edison Lee says a good 3QFY25 could keep AAPL stock stable in the near-term
- Constellation Brands (STZ) is lower this morning after it posted a small EPS miss in its latest earnings, which analysts attribute to weaker-than-expected sales for its beer. The report was a mixed bag as the company continues to weather the storm of weakening end markets and poor macro data, analysts add.
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