Investing.com -- US stock futures retreated Wednesday, with risk sentiment hit hard by the escalating violence in the volatile Middle East region.
Here are some of the biggest premarket US stock movers today:
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Nike (NYSE:NKE) stock fell 6.9% after the US athletic apparel maker withdrew its full-year financial forecast and posted a 10% slump in quarterly revenue.
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Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX) both rose close to 2% after crude prices soared in the wake of the Iranian missile attack on Israel, raising the potential for a disruption to supplies from this oil-rich region.
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Lockheed Martin (NYSE:LMT) stock rose 1% as defense stocks received a boost from the increased violence in the Middle East.
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Tesla (NASDAQ:TSLA) stock fell 0.6% ahead of the EV giant’s third-quarter deliveries, with Wells Fargo (NYSE:WFC) placing the company on its Q4 2024 Underweight Tactical Ideas list, citing concerns about weakening demand and the negative impact of price cuts on its margins.
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Harley-Davidson (NYSE:HOG) stock fell 3.7% after Baird downgraded its stance on the motorcycle manufacturer to “neutral” from “outperform”, citing a sour feedback from dealers over Q3 trends.
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LPL Financial (NASDAQ:LPLA) stock fell 3.8% after the independent broker-dealer said it had fired its chief executive for allegedly violating the firm’s rules on a respectful workplace.
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Lamb Weston (NYSE:LW) stock fell 4.5% after the food processing company cut its full-year earnings outlook and announced plans to eliminate 428 jobs as part of a restructuring plan after it posted lower profit and revenue in its fiscal first quarter.