Today’s Stocks to Watch: OXY, XOM, CrowdStrike, and Ford

Key points:

• Shares of oil majors, including Occidental, declined as crude oil prices fell.
• Delta and CrowdStrike face a legal dispute over technology infrastructure security.
• Stock performance in oil and technology sectors is crucial for investors tracking these industries.

The stock market saw significant movement today, with companies in oil and technology standing out. Here’s a look at the pre-market performance of these companies and updates on notable corporate events, providing insights for investors assessing potential portfolio impacts.

Exxon Mobil (XOM) and Occidental Petroleum (OXY) Stocks

Exxon Mobil and Occidental Petroleum shares declined in pre-market trading, reflecting a drop in crude oil prices. BP and Shell stocks also fell in European markets, signaling a broader slowdown in the energy sector. This trend is important for investors evaluating the medium-term potential of oil stocks.

Delta Air Lines (DAL) and Crowdstrike (CRWD)

Delta Air Lines filed a lawsuit against CrowdStrike, alleging gross negligence related to the July global blackout that disrupted thousands of flights. This case underscores the importance of robust security in airline technology infrastructure and could influence investor sentiment toward both companies, particularly CrowdStrike.

Upcoming Earnings Reports: ON Semiconductor (ON), Ford Motor (F), and Waste Management (WM)

ON Semiconductor is set to release its earnings before the market opens today, while Ford Motor and Waste Management will report after the close. These reports are highly anticipated, as they may provide insights into the performance of key sectors, including technology and automotive, of interest to sector-focused investors.

Douglas Elliman (DOUG) Stocks

The board of Douglas Elliman forced the CEO to resign amid concerns over an inappropriate work environment, as reported by The Wall Street Journal. The news caused the company’s shares to surge by 9% in after-hours trading, a notable event for those tracking the real estate sector.

Philips (PHG) Stocks and the Healthcare Technology Sector

Philips (also listed as PHIA in Europe) reduced its annual sales growth target due to weaker demand in China. Shares of the healthcare technology company dropped by approximately 17% in European markets, highlighting how fluctuations in demand from major economies like China impact the healthcare technology sector, a point of interest for sector-focused investors.

China Evergrande New Energy Vehicle Group Stocks

China Evergrande New Energy Vehicle Group reported a setback in its negotiations to sell a stake in its electric vehicle unit, leading to a nearly 9% decline in its Hong Kong-listed shares. This development reflects the company’s ongoing financial struggles, impacting the electric vehicle sector and underscoring the risks for investors with exposure to the Asian market.