Today’s Market Movers: Qualcomm, ServiceTitan, and Lithium Americas Lead Wednesday’s Trading
TLDR
- Stock futures slid Wednesday as U.S.-Iran strikes pushed oil above $100 a barrel for the first time since July
- Qualcomm rose in premarket after a deal with Amazon fueled a 3.2% gain the day before
- ServiceTitan dropped 19% despite beating Q2 earnings, hurt by a weak revenue outlook
- Chime Financial surged 11% after agreeing to buy Stride Bank for $590 million
- Lithium Americas gained 5% after JPMorgan upgraded it to Overweight with a 100% upside price target
Markets opened under pressure Wednesday as escalating military strikes between the U.S. and Iran pushed oil prices back above $100 a barrel. Brent crude held near that level as supply disruptions through the Strait of Hormuz added to concerns.
The rise in oil prices stoked inflation fears, pulling stock futures lower across the board. Still, some individual stocks managed to move higher on company-specific news.
Qualcomm added 1.4% in premarket trading, building on a 3.2% gain from Tuesday. That earlier move came after the chipmaker announced a deal with Amazon. Glassmaker Corning and memory-card maker Sandisk also rose in early trading. Chip makers Advanced Micro Devices and Intel, however, slid lower.
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