Check out the companies making the biggest premarket moves: SpaceX — Shares rose 5% as the company geared up for its second day of trading Monday. SpaceX, which listed on the Nasdaq on Friday, is up 19% from its IPO price of $135 per share. Energy stocks — The group fell as U.S. oil prices fell 5% to nearly $80 a barrel following the U.S.-Iran deal to reopen the Strait of Hormuz. APA and Devon Energy both fell more than 3.5%. Marathon Petroleum and EOG Resources fell 3%. Chevron and ExxonMobil also fell more than 2.5%. Airlines and cruise stocks — Stocks rose in premarket trading Monday, benefiting from lower fuel prices. United Airlines rose more than 5% and Delta Air Lines rose 4%. Norwegian Cruise Line and Carnival Corp. rose 4.5%, while Royal Caribbean rose 4%. Paramount Skydance — The media conglomerate rose nearly 5% after announcing Friday that the U.S. Department of Justice approved Paramount’s acquisition of Warner Bros. Discovery. While federal hurdles are clear, the company’s proposed merger could still face challenges at the state level. Fox Corporation, Roku — Fox stock fell 12% after the company announced it would acquire Roku for $160 per share. This is an 11% premium compared to the stock’s closing price on Friday. The cash and stock transaction will create a company at the forefront of sports, news and streaming, Fox said in a press release. Roku stock rose 2%. Micron Technology — Memory and storage solutions company Micron Technology rose more than 7.5% as technology stocks rose amid a broader market rally and received a price target hike from TD Cowen. The company’s analysts now expect the stock to reach $1,500, arguing that memory’s role in building artificial intelligence is structural rather than cyclical. Firefly Aerospace, Rocket Lab — Stocks rose on Monday after KeyBanc upgraded both stocks to overweight. This comes after Firefly and Rocket Lab fell 19% and 10%, respectively, on Friday after SpaceX’s IPO caused investors to move money from other aerospace companies to Elon Musk’s giant. Firefly rose 5% in premarket trading Monday, while Rocket Lab rose nearly 4%. FREEPORT-MCMORAN — Mining companies rose 4% as gold prices rose more than 2.5% on Monday. Investors returned to gold as a potential peace deal between the United States and Iran eased fears that the Federal Reserve would have to raise interest rates in the coming months to counter price increases caused by the conflict.
