Stocks making the biggest moves premarket: CVX, QXO, DUOL
Check out the companies making the biggest moves premarket: Oil stocks — Shares of major U.S. oil companies jumped following the U.S. attack on Venezuela that led to the ouster of leader Nicolas Maduro as they are seen as beneficiaries from the rebuild of energy infrastructure in the country. Chevron , which already has a presence there, surged 7% higher, while Exxon Mobil advanced 4.2%. Oilfield services leader Halliburton popped 9%. Uber Technologies — The transportation platform slipped 1% following a downgrade to sell from hold at Melius Research. The firm wrote that Uber is very at risk from increased competition, such as if standalone expansion announcements from the likes of Waymo and Tesla were to come to the U.S. market, and said that such potential headwinds do not seem to be fully priced into the stock’s current valuation. Mobileye — The maker of autonomous vehicle tech rose 4% after an upgrade to overweight from equal weight at Barclays. The bank cited a “favorable” risk/reward backdrop for the rating change. QXO — The roofing and construction products distributor climbed 9% after securing a $1.2 billion preferred equity investment, led by private equity giant Apollo. Nvidia , Micron — The chipmakers rose 1.2% and 3.8%, respectively, to start the week. The gains gave a boost to S & P 500 and Nasdaq-100 futures. Duolingo — The language education app climbed 4% after a Bank of America upgrade to buy from neutral. “We believe [Duolingo’s] value proposition as an entertainment product is not reflected in growth forecasts,” BofA said in a note. — CNBC’s Lisa Kailai Han contributed reporting.
