Stocks making the biggest moves premarket: Chevron, United Airlines, Northrop Grumman, RH and more
Check out the companies making headlines in premarket trading: Oil stocks — Energy stocks climbed in premarket trading amid a jump in oil prices after Israel launched airstrikes against Iran without U.S. support, drawing concerns over the supply outlook from the oil-rich Persian Gulf. Chevron and Exxon Mobil rallied about 3% each, while ConocoPhillips jumped more than 4%. EOG Resources gained more than 3%. Gold stocks — Stocks tied to gold advanced as investors flocked to the perceived safe haven amid the geopolitical escalation. Newmont and SSR Mining both rose more than 1%, as did the VanEck Gold Miners ETF (GDX) . Defense stocks — Weapons manufacturers rose amid elevated geopolitical risk following Israel’s attack on Iran. RTX and Northrop Grumman both surged more than 4%, Lockheed Martin gained 3.5% and L3Harris Technologies added 2.2%. Cruise lines and airlines — Travel companies slid as investors worried that heightened risk would deter vacationers and spikes in oil prices would hurt profit. Carnival fell more than 4%, and Norwegian Cruise Line and Royal Caribbean Cruises dropped more than 3% each. United Airlines weakened more than 5% while Delta Air Lines and American Airlines each declined more than 4%. Southwest Airlines shed more than 2%. Hotel stocks — Hotel and resort stocks declined as traders weighed the outlook for diminished travel demand following Israel’s strike on Iran. Hilton Worldwide and InterContinental Hotels Group slipped more than 2% apiece, while Marriott pulled back nearly 2%. RH — The home furnishings retailer jumped 19% after posting a surprise adjusted profit in its fiscal first quarter. RH earned an adjusted 13 cents per share, while analysts surveyed by LSEG expected a loss of 9 cents per share. Net income of $8 million reversed a year-earlier loss of $3.6 million, but revenue trailed Street estimates. RH shares were down more than 50% year to date ahead of the report. DraftKings — Shares of the sports betting app lost nearly 3% after imposing a 50-cent transaction fee in Illinois starting in September after state lawmakers passed a budget including what one analyst described as a surprise increase in an online gambling tax . Adobe — Shares fell more than 3% after the graphic design software company posted better-than-expected second-quarter earnings. StreetAccount cited concern over a “slight deceleration in Subscription and cRPO growth rates [and] implied Q4 growth outlook.” In the latest quarter, Adobe earned an adjusted $5.06 per share on $5.87 billion in revenue, above the $4.96 per share and $5.79 billion in revenue analysts surveyed by LSEG were expecting. Adobe also lifted its full-year guidance. GE Vernova — The turbine manufacturer slipped nearly 3% on the heels of a downgrade to peer perform from outperform at Wolfe Research. Analyst Nigel Coe cited concern over GE Vernova’s “challenging valuation” after a more than 48% gain for the stock in 2025. — CNBC’s Yun Li, Jesse Pound, Sean Conlon and Brian Evans contributed reporting.
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