Today’s Stocks to Watch: Amazon, Circle, and Boeing
Key Points To Watch Out For:
- Tesla shares rise 1.5% following launch of robotaxi service
- Northern Trust rises 4% on merger interest from BNY Mellon
- Fiserv jumps 6% on news of crypto and stablecoin platform
Exxon (XOM), Chevron (CVX), BP (BP), Occidental Petroleum (OXY): Rebound After Attack in Iran
Energy stocks rose modestly in premarket trading after the United States attacked nuclear facilities in Iran over the weekend. The event elevated tensions in the Middle East and raised alarms about a possible blockade of the Strait of Hormuz, a vital route for global oil transportation. Investors rushed to oil-related assets, driving up the share prices of major oil companies.
IAG (IAG), Air France-KLM (AF), Singapore Airlines (SG:C6L): Declines After Flight Suspensions
Airline stocks dipped slightly after several carriers, including Air France, canceled flights to the Middle East following the attack. While U.S. airlines operated with minimal changes, the geopolitical unrest directly impacted major European and Asian airlines.
Tesla (TSLA): Rises After Launching Its Long-Awaited Robotaxi Service
Tesla rose 1.5% before the opening bell after formally launching its robotaxi service over the weekend. The rollout marks a key milestone in its autonomous driving and electric mobility strategy. The positive market reaction reflects expectations for continued growth in the autonomous vehicle segment.
Northern Trust (NTRS): Jumps on Possible Merger With BNY Mellon
Northern Trust gained nearly 4% in premarket trading following reports that Bank of New York Mellon approached the firm to explore a potential merger. If completed, the deal would unite two significant players in the trust and custody industry. The market responded positively to the potential synergies from the transaction.
Fiserv (FI): Surges After Announcing Stablecoin Platform
Fiserv shares climbed 6% ahead of the open, fueled by the announcement of a new stablecoin platform tailored to its 3,000 regional banking clients. The initiative positions Fiserv as a key provider of blockchain-based solutions in traditional finance and was met with enthusiasm by the market.
Novo Nordisk (NVO): Falls After Weak Results From CagriSema
Novo Nordisk declined 2.6% on the Danish stock exchange after clinical trial data for its experimental obesity drug, CagriSema, fell short of market expectations. The drop underscores the company’s heavy reliance on the success of its next-generation treatments.
Stellantis (STLA): Down After Internal Restructuring Under New CEO
Stellantis shares fell 2% in Milan after announcing a leadership restructuring led by newly appointed CEO Antonio Filosa. The changes aim to address operational inefficiencies. However, the market reacted cautiously to the initial strategic shifts.
Zhejiang Sanhua Intelligent Controls: Weak Debut in Hong Kong Despite Strong Fundraising
Shares of Sanhua had a soft opening in Hong Kong despite raising more than $1 billion in one of the year’s largest IPOs. The underwhelming market response suggests investor caution, despite the scale and ambition of the offering.
