Stock futures edged down Monday premarket while oil prices soared, fueling inflation fears as Middle East conflict persisted without signs of de-escalation.
Here are some of Monday’s biggest stock movers:
Biggest stock gainers
- Hims & Hers Health (HIMS) +48% – Shares surged after a media report said Novo Nordisk (NVO) plans to sell its obesity drugs through the company’s telehealth platform as part of a potential new partnership. The development follows a collapsed agreement in June, when Hims & Hers declined to stop offering lower-cost compounded versions of Semaglutide after the treatment was no longer in shortage in the U.S. More recently, the telehealth firm withdrew plans to sell compounded versions of Novo’s oral obesity therapy Wegovy following regulatory scrutiny, while Novo Nordisk also filed a lawsuit accusing Hims & Hers of infringing a key U.S. patent related to semaglutide.
Biggest stock losers
- Delta Air Lines (DAL) -3% – Shares of major U.S. airlines declined as surging oil prices and escalating Middle East tensions weighed on the sector, with United Airlines (UAL) falling about 3%, while American Airlines (AAL), JetBlue Airways (JBLU), and Southwest Airlines (LUV) slipped around 2%. Airline stocks came under pressure after oil prices surged above $100 per barrel amid the escalating U.S.–Israel conflict with Iran, which has disrupted production and shipping routes across the Middle East. Brent Crude, a major trading classification of crude oil, briefly jumped near $119, while West Texas Intermediate, another key oil benchmark, also spiked above $119, marking one of the biggest single-day gains in decades. The supply shock has been exacerbated by disruptions around the Strait of Hormuz, a key channel for roughly one-fifth of global oil shipments, raising concerns about higher jet fuel costs and prolonged airspace restrictions for carriers.
- Jefferies Financial Group (JEF) -3% – Shares dipped after analysts at Morgan Stanley downgraded the stock to Equal-Weight from Overweight and cut the price target to $49 from $78, citing credit concerns tied to the bank’s exposure to bankrupt auto parts supplier First Brands Group and the failed U.K. lender MFS. Analysts led by Ryan Kenny said the stock’s valuation may become more closely anchored to tangible book value rather than earnings, as the fallout from recent credit events could linger. They also noted legal uncertainty over whether the forbearance agreement with Western Alliance Bancorporation takes precedence over the loan’s non-recourse terms, though Morgan Stanley added that Jefferies’ core business activity is improving and the firm could gain market share in investment banking, leaving a wide risk-reward outlook.