Check out the companies making the biggest moves premarket: Energy stocks — Shares of energy companies were boosted as U.S. oil prices surged after President Donald Trump said the ceasefire with Iran is over. Diamondback Energy jumped more than 3%. APA Corporation and Occidental Petroleum were rising more than 2.5%. Chevron was up more than 2% in premarket trading, while Exxon Mobil rose 1.5%. Cruise lines, airlines — Meanwhile, companies that are exposed heavily to fuel prices fell as oil rose. Carnival Corporation was off 3.5%, while Norwegian Cruise Line tumbled 3%. United Airlines also fell 3%, while Delta Air Lines declined nearly 2%. SpaceX — The stock bucked the sell-off trend in premarket trading on Wednesday as it rose just under 0.5%, rebounding slightly from it’s more than 6.5% decline on Tuesday. SpaceX at Tuesday’s close fell below its IPO first-trade price of $150. Memory stocks — The sell-off in the sector continued on Wednesday, with names across the board lower. Sandisk was off more than 5.5%, while Western Digital fell 5%. Micron Technology declined 4.5%, and Seagate Technology was lower by 3.5%. Bath & Body Works — The retailer fell more than 4% after Goldman Sachs downgraded the stock to sell from neutral. Analysts at the bank said the company’s expansion into third-party distribution could cannibalize its own retail business. Estee Lauder — The beauty manufacturer declined 2% after it revealed in a regulatory filing that it’s estimated costs for its restructuring plans now total $1.75 billion. Previous estimates from the company estimated the costs to be around $1.55 billion. Rivian Automotive — Shares of the electric vehicle manufacturer were off nearly 4% after the stock suffered its worst day since February 2024 on Tuesday. Rivian declined 18% after the company announced a public offering of 75 million shares of its stock to raise capital.
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