Check out the companies making the biggest moves premarket: SK Hynix , Intel — The chipmakers rose after a Reuters report that SK Hynix was in talks with Intel to manufacture memory chips in the U.S. for the first time. Both stocks were up more than 2.5%, but SK Hynix said that no decisions have been made regarding any partnership with Intel. J.B. Hunt Transport Services — Shares of the transportation and logistics company tumbled more than 11% after the company warned that its earnings may tumble in the third quarter between 5% to 10%, compared to the previous three-month period. J.B. Hunt said the decline has been due to internal adjustments to account for rising rates of purchase transportation. Expedia — The online travel company fell more than 2.5% after Morgan Stanley downgraded the stock to underweight. Analysts at the bank said shares have a weak risk/reward profile, particularly with greater exposure to a potentially weaker consumer. Energy stocks — U.S. oil prices fell 2% after a report said energy inventories rose last week, sending energy stocks lower. Diamondback Energy fell almost 4%, while Occidental Petroleum was off 1%. ExxonMobil and Devon Energy were both down almost 1%. Paychex — Shares were up more than 1% after a Wolfe Research upgrade to peer perform. Analysts said that the current macroeconomic environment is supportive of the company’s revenue growth forecast, and that the company’s skew toward blue collar workers gives it protection from AI-related job losses. Union Pacific — The freight carrier rose 1.5% after UBS upgraded the stock to buy. Analysts at the bank said they expect strong volume growth that will lead to better-than-expected earnings through 2028.
