Aon, the insurance broker, saw its shares decline by 1.8% after announcing a $17 billion acquisition of USI Insurance Services from KKR, which Aon claims will establish a leading platform in the U.S. middle market.
In the energy sector, U.S. oil prices surged over 3% following military exchanges between the U.S. and Iran, leading to premarket gains for major energy companies: Halliburton rose more than 2.5%, Chevron increased by 2%, and both Valero Energy and Occidental Petroleum were up 2%, while Exxon Mobil gained over 1.5%.
Conversely, PG&E's stock dropped 16% after California lawmakers rejected a proposal that would have limited wildfire liability claims against utility companies, prompting several analysts, including those from Mizuho, to downgrade the stock in favor of utilities with fewer wildfire-related issues.
Pinterest's shares fell more than 3% after announcing the departure of CFO Julia Brau Donnelly, with Vikram Naidu stepping in as interim CFO. GameStop's stock increased by 4% following the release of preliminary second-quarter results, which indicated a decline in net sales year-over-year but anticipated increases in both operating and net incomes.
Lastly, Deere's stock rose 1% after Baird upgraded it to outperform, citing potential demand growth for farm equipment due to improved margins for farmers driven by higher crop prices