Tesla, Adobe and Mastercard fall premarket; Chevron, Apple rise

Investing.com -- U.S. stock futures slumped Friday after an Israeli strike on Iran raised geopolitical tensions and oil prices, potentially hitting global growth.

Here are some of the biggest premarket U.S. stock movers today:

• Tesla (NASDAQ:TSLA) stock fell 1.2% after the electric vehicle manufacturer upgraded its Model S and Model X cars in the U.S. and raised their prices by $5,000, according to its website.

• Apple (NASDAQ:AAPL) stock rose 0.2%, outperforming the wider market after data from Counterpoint Research showed iPhone sales rose to the top spot in China in May, with global sales growing 15% year-on-year during April and May in the tech giant’s strongest performance for the two-month period since the COVID-19 pandemic.

• Adobe (NASDAQ:ADBE) stock fell 3.3% after the software group disappointed when compared to rival Oracle (NYSE:ORCL), even as it raised its annual guidance after reporting better-than-expected fiscal second-quarter revenue.

• Oil majors Chevron (NYSE:CVX) and Exxon (NYSE:XOM) gained around 3% as crude prices soared to their highest levels since late January in the wake of the Israeli strike on Iran, with traders worried that any conflict could disrupt shipping routes or oil infrastructure across the Gulf.

• Carriers Delta Air Lines (NYSE:DAL), United Airlines (NASDAQ:UAL), Southwest Airlines (NYSE:LUV) and American Airlines (NASDAQ:AAL) all dropped sharply as the surge in crude prices raised concerns about higher fuel costs.

• Defense companies Lockheed Martin (NYSE:LMT), Rtx Corp (NYSE:RTX), Northrop Grumman (NYSE:NOC) and L3Harris Technologies (NYSE:LHX) all gained on the heightened geopolitical tensions.

• Credit card giants Mastercard (NYSE:MA) and Visa (NYSE:V) both fell over 2% after the Wall Street Journal reported that a number of major retailers have been exploring the use of stablecoins to get round the charges the credit companies levy.

• Newell Brands (NASDAQ:NWL) stock rose 2.2% after JPMorgan upgraded its stance on the consumer goods retailer to ‘overweight’ from ‘neutral’, saying the company is showing signs of a successful turnaround.

• Zscaler (NASDAQ:ZS) stock rose 1% after Wells Fargo upgraded the cloud security company to ‘overweight’ from ‘equal weight’, expecting it to continue expanding both operating and free cash flow margins as revenue growth accelerates.