Check out the companies making the biggest moves in premarket trading: Oil stocks — Shares of energy companies jumped alongside the move higher in oil prices , which surged more than 7% after President Donald Trump’s speech Wednesday night indicated the war in Iran would continue. APA gained 4.3%, while Diamondback Energy , ConocoPhillips , Devon Energy , Exxon Mobil and Chevron all added about 3%. Cruise stocks — Major cruise operators tumbled after President Donald Trump’s speech failed to outline a clear path to end the war in Iran, leading oil prices to surge and reigniting demand fears. Carnival , Royal Caribbean and Norwegian Cruise Line all fell about 4%. Airliners — Higher oil prices also sent airline stocks tumbling, with Delta Air Lines , United Airlines , Southwest Airlines and Alaska Air all fell about 4% Gold miners — Gold prices shed 1% after Trump’s speech. Shares of gold miners followed suit, with Newmont and Kinross Gold losing about 5% and Iamgold shedding nearly 6%. General Motors — The auto manufacturer slipped more than 1% after it revealed on Wednesday that first quarter sales fell 9.7% compared to the same three months a year ago. General Motors and other car makers were also weighed down by rising oil prices on Thursday, on fears it could lead to shifts in consumer spending that weaken demand in the auto market. Globalstar — The mobile satellite services provider rallied 15% following a Financial Times report that Amazon was in talks to acquire the company. Shares of Amazon were down more than 2%. Amazon declined to comment and Globalstar didn’t immediately respond to a request for comment. Penguin Solutions — The enterprise solutions provider for computing, memory and LED markets rallied 10% after its second-quarter financial results topped the Street’s expectations. Adjusted earnings came in at 52 cents a share, versus the FactSet consensus estimate of 42 cents. Revenue was $343 million, compared to the $339 million expected from analysts Memory stocks — Shares of memory chipmakers tumbled alongside the broader market. Western Digital , Micron Technology and Sandisk all tumbled nearly 6%. Seagate Technology fell 5%. Liquified natural gas exporters — Shares of LNG exporters rose amid fears that the conflict in the Middle East will continue to disrupt global supply. Venture Global rose 6%, while NextDecade and Cheniere Energy both climbed roughly 3%. Fertilizer stocks — Fertilizer companies also jumped as concerns that the continued Strait of Hormuz closure will weigh on supply. CF Industries and Intrepid Potash both added about 3%, while LSB Industries gained nearly 5%. Immunovant — Shares dropped 6% after the clinical stage immunology company said two late-stage studies investigating batoclimab as a treatment for thyroid eye disease failed. — CNBC’s Davis Giangiulio and Sarah Min contributed reporting.
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Wednesday, September 23
