These 5 Stocks are Getting Hammered Today

4. PVH Corp. (NYSE:PVH)

Number of Hedge Fund Holders: 33

PVH Corp. (NYSE:PVH) announced the departure of its CEO Trish Donnelly, who is leaving the clothing company to seek opportunities elsewhere. However, Donnelly will continue to advise the company over the next couple of months to ensure a smooth transition.

Meanwhile, PVH Corp. (NYSE:PVH) also lowered its financial outlook for the full year. It is now targeting adjusted earnings of about $8 per share versus its earlier projection of about $9 per share. Moreover, the company expects its revenue to drop in the range of 4 – 3 percent in the same period, compared to its earlier guidance calling for a surge of 3 – 4 percent.

PVH Corp. (NYSE:PVH) updated its outlook along with its fiscal second quarter results. The company reported adjusted earnings of $2.08 per share, beating the consensus of $2 per share. On the downside, its quarterly revenue of $2.132 billion missed the consensus of $2.21 billion.

The weak outlook, mixed quarterly performance and CEO’s exit sent PVH stock down about 5 percent in pre-market trading Wednesday.