Major Premarket Stock Movers: Paccar, Intel, RH, Riot Platforms, and Others
Market Reactions to Tariffs: Paccar's shares rose 7% following President Trump's announcement of a 25% tariff on imported heavy trucks, while furniture stocks fell due to a 30% tariff on upholstered furniture, impacting companies like RH and Wayfair.
Semiconductor and Pharmaceutical Stocks: Semiconductor companies saw declines amid potential tariffs, while U.S. pharmaceutical stocks like Eli Lilly and Abbvie gained after a 100% tariff on branded drugs was announced, with exemptions for domestic manufacturers.
Company Earnings and Upgrades: Concentrix shares plummeted 20% after disappointing earnings, while Kenvue gained 1.4% following an upgrade, despite concerns over Tylenol's safety linked to autism.
Mixed Performance in Retail: Six Flags Entertainment rose 3.3% due to a shareholder proposal, while Costco's shares dipped 1% despite exceeding earnings expectations, reflecting a lag in market performance for the retailer.
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