Stocks making the biggest moves in the premarket: Devon Energy, Didi, Sunnova, Whirlpool & more

Market Insider

A pump jack operates at a well site leased by Devon Energy Production Co. near Guthrie, Oklahoma.
Nick Oxford | Reuters

Take a look at some of the biggest movers in the premarket.

Devon Energy, Occidental Petroleum — Energy stocks were set to gain as oil prices rose. Devon Energy advanced 3% in premarket trading, while Occidental Petroleum climbed 1.7%. U.S. West Texas Intermediate gained $1.23, or 1.7%, to trade at $74.60 per barrel, having declined by more than 2% in the previous session amid uncertainty about OPEC+ supply policy.

Didi — The slide in Chinese ride-hailing company continued with shares falling another 4% in premarket trading. Didi shares sunk nearly 20% after Chinese regulators announced a cybersecurity review of the company, less than a week after Didi’s public debut on the New York Stock Exchange.

Sunnova Energy — Shares of the solar company climbed more than 3% after Raymond James upgraded the stock to strong buy from outperform, saying the stock’s recent underperformance was caused by misguided concerns. The stock is down about 13% this year.

Whirlpool — The home appliance stock edged up about 1% after JPMorgan named the company a top pick, saying that the rest of Wall Street was too negative about the company. JPMorgan’s price target of $278 represents a 28% upside for Whirlpool stock.

JPMorgan, Goldman Sachs — Bank stocks were set to extend their sell-off as long-term bond yields fell further. The 10-year Treasury yield dipped another 3 basis points below 1.35%, its lowest level since February. The 30-year Treasury yield fell a similar magnitude to 1.97% on Wednesday. 

Articles You May Like

Stocks making the biggest moves after hours: Ambarella, Box, HP and more
The 3 Most Undervalued Value Stocks to Buy in June 2023
How to Learn to Trade Stocks While in College
Don’t Be Surprised if Rivian Stock Drives Into Single Digits
AI May Be the Only Way to Make Money These Days