Nike, Harley-Davidson and Lamb Weston fall premarket; Exxon Mobil, Lockheed rise

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: 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. 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. Lockheed Martin (NYSE:LMT ) stock rose 1% as defense stocks received a boost from the increased violence in the Middle East. Tesla (NASDAQ:TSLA ) stock fell 0.6% ahead of the EV giant’s third-quarter deliveries, with Wells Fargo 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. 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. 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. 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.

Source: Investing.com