Stellantis Shares Plummet; Molina Drops on Earnings; Under Armour Shares Rise

Today's biggest winners and losers in the stock market.

On this episode of Stock Movers:

- Stellantis (STLAM) is taking more than $26 billion in charges mainly linked to reversing course on its electric vehicle strategy, prompting a record plunge in the Jeep and Fiat owner’s shares.The writedowns, much of which will cover the cost of canceling EVs and compensating suppliers, exceed the impairments Ford Motor Co., General Motors Co. and Porsche AG have announced in recent months.

- Molina Healthcare’s (MOH) shares plunged after the health insurer forecast 2026 profit that was less than half of Wall Street’s expectations and said it would stop offering Medicare Advantage prescription drug plans for 2027 as medical costs increased across all of its major programs.Shares of Molina slumped 33% in premarket trading on Friday. That would be the biggest drop since July 2005, shaving $3 billion from the company’s market capitalization if the move holds, according to data compiled by Bloomberg.

- Under Armour (UA) shares are up after the athletic apparel and footwear company surprised investors with a quarter profit. Revenue were also slightly above the consensus estimate. Management boosted its adjusted EPS estimate.

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