Stocks move premarket after analyst updates and earnings warning
Premarket stock movers: SK Hynix, Intel, Expedia, Paychex, Union Pacific See what’s driving shares as analyst calls, guidance, and oil prices move markets
Several stocks moved in premarket trading on Wednesday after a mix of analyst actions, company guidance, and sector news.
SK Hynix and Intel rose after a Reuters report said the chipmakers were discussing a potential plan to manufacture memory chips in the U.S., though SK Hynix said no decision has been made. J.B. Hunt Transport Services fell after warning that thirdquarter earnings could decline 5% to 10% from the prior quarter because of higher purchase transportation costs.
Expedia slipped after Morgan Stanley downgraded the stock, while energy shares weakened as U.S. oil prices fell on a report showing higher inventory levels. Paychex gained after an upgrade from Wolfe Research, and Union Pacific advanced after UBS raised its rating to buy.