PVH's Tough Europe Business

And, Humana's medicare setback.

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Today is Tuesday, April 2, 2024.

The Early Bird Index today is 73.58.

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Unique Investing Opportunity in Green Concrete Startup

Climate Tech Startup with Momentum: Save the planet and grow your investment portfolio? Aquipor’s revolutionary new porous concrete allows freshwater to return to the ground naturally so that cities can manage stormwater flooding and pollution. Investors can take this technology to the world through a new equity crowdfunding campaign. 

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PVH's Tough Europe Business

PVH (NYSE: PVH), the clothing company behind Calvin Klein and Tommy Hilfiger, plummeted by 22.17% in after-hours trading on Monday after posting mixed financial results.

Financials: PVH reported earnings of $3.72 per share in the past quarter and revenue of $2.49 billion; both were better than expected.

Details: The company’s direct-to-consumer business grew 9%. There was strong growth in North America and Asia.

Outlook: PVH said that revenue for 2024 will decrease by 6% to 7%, which is worse than expected.

Powering the Story: The company blamed the macroeconomic environment in Europe, saying it has “become more challenged.”

Stock Price: PVH was up 14% in 2024 before these results.

Final Thoughts: There’s some good news with PVH. The board authorized a $2 billion stock buyback to help with the stock price. But the outlook for 2024 is a big reason to stay from PVH. 


Notable Earnings Today: Dave & Buster's Entertainment (Nasdaq: PLAY), Paychex (Nasdaq: PAYX), Cal-Maine Foods (Nasdaq: CALM).

Notable IPOs Today: Massimo Group Common Stock (Nasdaq: MAMO), Zhibao Technology Inc. Class A Ordinary Shares (Nasdaq: ZBAO), Even Herd Long Short ETF (Nasdaq: EHLS).

Notable Equity Crowdfunding Campaigns Ending Today: Black Kahawa Coffee (Honeycomb), Lighthouse (StartEngine).

Notable Economic Events Today: JOLTs Job Openings (10:00 a.m. ET), Factory Orders (10:00 a.m. ET), API Weekly Crude Oil Stock (4:30 p.m. ET).

Medicare Setback for Insurance Stocks

Health insurance companies expected the U.S. government to boost payments for Medicare plans in 2025. They were very wrong and their stock prices fell.

Details: The Centers for Medicare & Medicaid Services (CMS) finalized the rate increase at 3.7% for Medicare Advantage plans on Monday afternoon. This was the same rate the government announced in January, but insurers expected a higher revised rate this time.

Impact: Humana (NYSE: HUM) fell by 9.60% in after-hours trading, and it wasn’t the only insurance stock to face the wrath of investors. UnitedHealth Group (NYSE: UNH) dropped by 4.50%, CVS Health (NYSE: CVS) decreased by 5.92%, and Elevance Health (NYSE: ELV) declined by 4.06%.

Background: It’s been a tough year for health insurance stocks. Many have struggled to impress in a post-pandemic world. For example, Humana was down 25% this year before the Medicare Advantage news.

Final Thoughts: This is another reason to avoid health insurance stocks at the current moment.

AMD Rejects “Mini-Tender” Offer

Advanced Micro Devices (Nasdaq: AMD) told shareholders that it recommends rejecting a recent “mini-tender” offer.

Background: Last week, AMD got a “mini-tender” from Tutanota LLC to buy up to 150,000 shares of AMD stock at $200.00 per share.

Stock Price: In the last 12 months, AMD is up 89%.

Final Thoughts: AMD is still considered to be a good tech stock. It has benefited from the AI boom.

More Than an Asset: Bitcoin’s Future as Currency (CoinDesk)

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.