Jefferies Financial and MillerKnoll decline before the market opens; Kodiak Sciences soars

Investing.com - U.S. stock index futures declined on Thursday, oil prices surged back above $100 per barrel, despite reports about the prospects of peace negotiations between the U.S. and Iran, fighting in the Middle East continues.

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As of 07:36 AM Eastern Time (19:36 Beijing Time), the Dow futures fell 351 points, down 0.8%, the S&P 500 futures dropped 53 points, down 0.8%, and the Nasdaq 100 futures declined 230 points, down 0.9%.

Here are the main pre-market stock updates:

• U.S. mining stocks retreated in pre-market trading, with travel stocks like United Airlines and Delta Air Lines also falling.

• Cruise operator Carnival Cruise also declined, with analysts previously noting the company may face risks from rising fuel prices.

• Oil giants ExxonMobil and Chevron moved higher.

• Jefferies Financial’s earnings failed to meet investor expectations. Despite strong first-quarter investment banking performance, loan losses on bankrupt companies overshadowed this bright spot. The stock fell over 1.8%.

• Storage chip stocks, including Micron Technology and Sandisk, declined after Google researchers proposed a new compression technology that could reduce the memory needed to power AI tools.

• Kodiak Sciences’ stock soared after the drug developer reported promising late-stage trial data for its experimental treatment for diabetic eye complications.

• Business travel platform Navan released better-than-expected Q4 results, boosting its stock.

• Preceigen’s stock surged as the biotech company’s Q1 performance was supported by strong results from its recurrent respiratory papillomatosis treatment.

• MillerKnoll dropped sharply as the office furniture design company issued a disappointing outlook for the fourth fiscal quarter.

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