Check out the companies making headlines in premarket trading. UnitedHealth — Shares dropped 7% in the premarket Tuesday after the company announced it was suspending its 2025 outlook due to higher-than-expected medical expenditures. UnitedHealth also announced CEO Andrew Witty was stepping down, effective immediately, for personal reasons. Stephen Hemsley will replace Witty as chief executive. Rigetti Computing — Shares tumbled 11.4% after the quantum computing firm recorded $1.5 million for first-quarter revenue, below the $2.6 million consensus forecast from analysts polled by FactSet. Coinbase — Shares rallied 9.2% following the announcement that the crypto trading platform will join the S & P 500 , taking effect before trading on May 19. Coinbase will replace Discover Financial Services . Hertz Global Holdings — The rental car stock sank nearly 9% after first-quarter results came in worse than expected. Hertz reported an adjusted loss of $1.12 per share on $1.81 billion of revenue. Analysts surveyed by LSEG were looking for a loss of 97 cents per share and $2 billion of revenue. The company said it had $1.2 billion in liquidity at the end of March. Simon Property Group — The real estate investment trust slid 2% despite first-quarter revenue topping expectations. Simon saw $1.37 billion, while analysts predicted $1.36 billion, per LSEG. Under Armour — Shares of the athletic goods and apparel company added 2.2% after Under Armour beat revenue expectations for its fiscal fourth quarter and lifted its adjusted earnings per share guidance for the fiscal first quarter. Sea Limited — The consumer internet stock surged 14.1% after adjusted EBITDA for the first quarter surpassed forecasts. Sea posted $946.5 million, beating the FactSet consensus of $710.9 million. The company reported $4.84 billion in revenue, missing Wall Street’s prediction $4.91 billion. Valero Energy — Shares of the oil refiner ticked 1% higher on the heels of Goldman Sachs’ upgrade to buy from neutral. Goldman said Valero can benefit from an improving backdrop and more attractive supply-and-demand trends. Calumet — The special product producer jumped 2.2% following Bank of America’s initiation at a buy rating. The bank said Calumet shares can see sizable upside through growth in the biofuels business. — CNBC’s Pia Singh, Jesse Pound and Fred Imbert contributed reporting
