Stock futures were tumbling Friday and oil prices surged after Israel launched an attack on Iran's nuclear program and military leadership, ratcheting up geopolitical tensions in the Middle East.
These stocks were poised to make moves Friday:
Shares in oil companies were rising as Israel's attack on Iran sent crude prices surging as much as 13%. Occidental Petroleum was up 5.2%, Schlumberger jumped 3.9%, Chevron added 2.7%, and Exxon Mobil rose 3%.
Defense contractors traded higher in premarket trading following Israel's wide-ranging attack on Iran's nuclear program. Lockheed Martin rose 4.2%, Northrop Grumman gained 4.2%, and L3Harris Technologies was up 3.5%.
Adobe reported fiscal second-quarter earnings and revenue that beat analysts' estimates and the creative software company raised its fiscal-year guidance as artificial intelligence boosted demand. Adobe raised its adjusted earnings forecast for the fiscal year by 20 cents to a range of $20.50 to $20.70 a share, and said it it anticipates revenue of $23.5 billion to $23.6 billion, up from prior guidance of $23.3 billion to $23.55 billion. The stock declined 1.5% in premarket trading.
Shares of electric-vehicle maker Tesla were down 2.6% ahead of the stock market's opening bell. The stock declined 2.2% on Thursday after President Donald Trump signed a joint resolution of Congress to eliminate California's ability to regulate its air emissions, which it has had since the late 1960s. The policy change has some pretty big implications for auto companies, including Tesla. "We officially rescue the U.S. auto industry from destruction by terminating California's electric vehicle mandate, once and for all," Trump said at a Oval Office signing.
Boeing declined 1% after ending Thursday's session down 4.8% following the crash of an Air India plane carrying 242 passengers and crew near the western Indian city of Ahmedabad. One passenger survived the crash, The Wall Street Journal reported, citing Air India. Headed to the U.K., the plane, an 11-year-old Boeing 787, crashed shortly after takeoff. Boeing investors are sensitive to aircraft incidents following their experience with the 737 MAX, which was grounded worldwide between March 2019 and November 2020 following two deadly crashes.
Advanced Micro Devices fell 1.6% in premarket trading. The semiconductor company announced its latest artificial-intelligence chips as it looks to compete with Nvidia, the market leader. AMD Instinct MI350 series would deliver four times more performance than the company's prior MI300X model.
Nvidia, meanwhile, was down 1.9% in the premarket session.
Shares of Oracle gave back some gains after they rose 13% to an all-time high of $199.86 on Thursday following quarterly earnings that beat estimates and the enterprise software company said it expected its cloud infrastructure growth rate to jump to more than 70% in fiscal 2026. Oracle fell 1.3% in premarket trading.
Fiscal first-quarter earnings at RH, the high-end furniture chain, rose to 40 cents a share from a year-earlier loss of 20 cents as revenue jumped 12% to nearly $814 million. RH said it expects second-quarter revenue growth of 8% to 10%. Shares were up 18%.
Chime Financial fell 2.2% in premarket trading to $36.28, a day after the digital bank made its trading debut. The stock opened Thursday at $43, 59% higher than its initial offering price of $27, and ended the session up 37% at $37.11.
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