A look at the top gainers in pre-market trading: Eli Lilly, ResMed — Pharmaceutical giant Eli Lilly announced its weight-loss drug Zepbound shows promise in treating patients with obstructive sleep apnea , the company’s shares rose 2%. Shares of ResMed, which makes equipment to treat sleep-related breathing disorders, fell nearly 4% after the news broke. Travelers — Shares of Travelers fell nearly 5% after the insurance company reported lower-than-expected first-quarter profit and revenue. Earnings per share were $4.69, while analysts polled by LSEG expected $4.90. Revenue was $10.18 billion, compared with expectations of $10.51 billion. Travelers said the profit miss was due to higher levels of disaster losses. United Airlines — Shares of United Airlines rose 6% on the day after the airline reported an adjusted first-quarter loss of 15 cents, missing the 57-cent loss expected by analysts polled by LSEG. Quarterly revenue also beat expectations. JB Hunt Transport Services — Shares of JB Hunt Transport Services fell 8% in one day after the transportation and logistics company reported lower-than-expected first-quarter profit and revenue. JB Hunt said domestic demand was flat and weaker than expected. ASML Holding — The Dutch semiconductor company reported revenue and new orders that fell short of consensus estimates, sending its U.S.-listed shares down 5%. Omnicom — Shares of Omnicom rose nearly 3% daily after the communications company reported first-quarter profit and revenue that beat estimates. Organic revenue grew 4%, compared with analysts’ expectations of 3.2%, according to StreetAccount. Autodesk — Shares of the software maker fell 5%. On Tuesday, Autodesk said it would further delay its annual 10-K filing as the board conducts an internal investigation. Alcoa – The aluminum stock rose nearly 3% on reports that U.S. President Joe Biden will propose tripling tariffs on Chinese steel and aluminum imports during a visit to the United Steelworkers headquarters in Pittsburgh on Wednesday. Alcoa is expected to report earnings after the bell. Elf Beauty — Shares of the beauty company rose 2.6% after TD Cowen upgraded the stock to buy from hold. The company said it was impressed by the new product launch and expected revenue could double over the next three years. Ferrari – The stock rose 1.8% after Bernstein reiterated his outperform rating on Ferrari, saying the Italian luxury sports car maker “starts to address the challenge of electrification.” Analysts’ $512 price target implies a 24% upside from Tuesday’s closing price. Abbott Laboratories – Shares of Abbott Laboratories edged lower despite the medical device company beating first-quarter results and raising the midpoint of its full-year guidance. Abbott Laboratories reported adjusted earnings of 98 cents per share, beating the FactSet consensus estimate of 95 cents per share. Revenue of $9.96 billion beat expectations of $9.88 billion. Capri Holdings — shares fell 1.5% after The New York Times Dealbook reported that the Federal Trade Commission was preparing to block the company’s $8.5 billion acquisition of Tapestry, the parent company of Coach and Kate Spade. Tapestry shares rose 1.8% – CNBC’s Jesse Pound, Hakyung Kim, Sarah Min and Fred Imbert provide reporting.
