Stocks making the biggest moves premarket: SPCX, UAL, ROKU
Check out the companies making the biggest moves premarket: SpaceX — Shares were up 5% as the company prepared for it second day of trading on Monday. SpaceX in its debut at the Nasdaq on Friday rose 19% from its IPO price of $135 per share. Energy stocks —The group tumbled as U.S. oil prices fell 5% to near $80 per barrel following a U.S.-Iran deal that is set to reopen the Strait of Hormuz. APA and Devon Energy were both off more than 3.5%. Marathon Petroleum and EOG Resources were down 3%. Chevron and Exxon Mobil were also falling more than 2.5%. Airlines and cruise stocks — Beneficiaries of lower fuel prices rose in premarket trading on Monday. United Airlines was up more than 5%, while Delta Air Lines rose 4%. Norwegian Cruise Line and Carnival Corporation jumped 4.5%, while Royal Caribbean was up 4%. Paramount Skydance — The media conglomerate was up almost 5% after the U.S. Justice Department on Friday announced it approved Paramount’s acquisition of Warner Bros. Discovery . While the federal hurdle is clear, the company’s proposed merger could still see challenges at the state level. Fox Corporation , Roku — Fox shares sunk 12% after the company announced it was acquiring Roku for $160 per share, an 11% premium compared to the stock’s Friday close. The cash and stock transaction will build a company that is at the forefront of sports, news and streaming, Fox said in a press release. Roku shares rose 2%. Micron Technology — The memory and storage solutions company was up more than 7.5% as technology stocks rose amid the broader market rally and the stock received a price target hike from TD Cowen. Analysts at the firm now forecast the stock hitting $1,500, calling the role of memory in the artificial buildout as structural, not cyclical. Firefly Aerospace , Rocket Lab — The stocks were up on Monday after KeyBanc upgraded both of them to overweight. It came as Firefly and Rocket Lab fell 19% and 10%, respectively, on Friday after the SpaceX IPO led investors to move money from other aerospace names into the Elon Musk giant. Firefly was up 5% in premarket trading Monday, while Rocket Lab rose nearly 4%. Freeport-McMoRan — The miner was up 4% as gold prices rose more than 2.5% on Monday. Investors moved back into gold as a potential U.S.-Iran peace deal alleviated worries that the Federal Reserve may have to hike rates in the coming months to combat rising prices due to the conflict.
