SK Hynix and Intel climbed more than 2.5% premarket after a Reuters report revealed the South Korean chipmaker was in discussions with Intel about U.S.-based memory chip production for the first time. SK Hynix cautioned that no final decisions have been reached on any partnership.
J.B. Hunt Transport Services plunged over 11% after the logistics company warned that third-quarter earnings could decline 5% to 10% compared to the prior quarter, citing internal recalibrations tied to rising purchase transportation rates.
Expedia dropped more than 2.5% following a downgrade to underweight by Morgan Stanley analysts, who cited a weak risk-reward profile and heightened exposure to a potential consumer downturn.
Energy shares slid after U.S. crude prices fell 2% on news of rising inventories. Diamondback Energy dropped nearly 4%, Occidental Petroleum fell 1%, and both ExxonMobil and Devon Energy lost close to 1%.
Paychex gained over 1% after Wolfe Research upgraded the stock to peer perform, noting a supportive macroeconomic backdrop and the company’s blue-collar workforce concentration as a buffer against AI-driven job displacement.
Union Pacific rose 1.5% after UBS upgraded the freight carrier to buy, projecting robust volume growth that could drive above-consensus earnings through 2028.
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