Stocks making the biggest moves premarket: HIMS, LYV
Check out the companies making headlines before the bell. Oil stocks – Oil stocks traded higher as the commodity surged due to the ongoing Iran War. U.S. crude briefly topped $110 per barrel overnight, hitting levels not seen since mid-2022. Talos Energy rose 5%, while Northern Oil and Gas and ConocoPhillips gained 3% and 2%, respectively. Hims & Hers Health – The stock surged 51% after Bloomberg News reported , citing a person familiar with the matter, that Hims & Hers struck a deal with Novo Nordisk to sell the Danish pharmaceutical company’s popular weight-loss medicine on its platform. The deal ends a lawsuit that aimed to stop Hims from selling a copycat version of Novo Nordisk’s Wegovy. Live Nation Entertainment – Live Nation rose 9% after Bloomberg reported the live entertainment company is nearing a settlement agreement with the Department of Justice over its alleged monopoly over the live concert industry. Mining stocks — The group dropped as the dollar surged, sending commodity prices higher, amid the ongoing U.S.-Iran conflict. Freeport-McMoRan fell nearly 4%, while Newmont shed 3.7%. Albemarle shed more than 2%. Airline stocks — Several airliners saw their stocks decline as fallout from the Iran War spiked oil prices and roiled global travel. Delta Air Lines fell roughly 3%, while American Airlines and United Airlines shed 4%. U.S. airlines were also under pressure amid a TSA staffing shortage . Jefferies Financial Group — Shares of the investment bank fell more than 3% after a downgrade by Morgan Stanley on Monday. Morgan Stanley said its call was due to ongoing credit concerns and a lawsuit filed Friday by Western Alliance, which alleged a breach of contract by Jefferies over a loan to now-bankrupt auto business First Brands Group. Royal Caribbean , Carnival and Norwegian Cruise Line — Shares of the cruise operators fell amid concerns about higher fuel costs in the face of rising oil prices. Royal Caribbean fell nearly 3%, Carnival lost 3.3% and Norwegian shed 2.8%. Starbucks — The global coffee chain saw shares dipping more than 2% in premarket after Wolfe Research downgraded the stock to peer perform. The Wall Street firm said it wants to see evidence of sustained execution, especially amid an increasingly competitive coffee landscape. — CNBC’s Fred Imbert, Davis Giangiulio, Michelle Fox and Yun Li contributed reporting.
Post Comment