US Stock Futures Retreat
US stock futures retreated Wednesday, impacted by escalating violence in the volatile Middle East region.
Premarket US Stock Movers
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Nike (NYSE:NKE): Stock fell 6.9% after withdrawing its full-year financial forecast and reporting a 10% drop in quarterly revenue.
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Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX): Both stocks rose close to 2% following a surge in crude prices after an Iranian missile attack on Israel, raising supply disruption concerns.
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Lockheed Martin (NYSE:LMT): Stock rose 1% as defense companies benefitted from increased Middle East violence.
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Tesla (NASDAQ:TSLA): Stock fell 0.6% ahead of Q3 deliveries, with Wells Fargo placing it on the Q4 2024 Underweight Tactical Ideas list due to weakening demand and negative impacts from price cuts on margins.
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Harley-Davidson (NYSE:HOG): Stock fell 3.7% after Baird downgraded its rating from “outperform” to “neutral,” citing negative dealer feedback regarding Q3 trends.
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LPL Financial (NASDAQ:LPLA): Stock fell 3.8% following the firing of its CEO for allegedly violating respectful workplace rules.
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Lamb Weston (NYSE:LW): Stock fell 4.5% after cutting its full-year earnings outlook and announcing the elimination of 428 jobs due to a restructuring plan after reporting lower profit and revenue in its fiscal first quarter.
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