US PRE-MARKET MOVERS: Cruise Liners/Airliners/Lodging names, Defense/Energy, Supertankers, VRT/LITE/SATS, MTCH/MOH/PAYC, LW, LYV, HIMS

Pre-market movements indicate significant weakness in the cruise and airline sectors, likely reflecting broader market concerns or specific industry pressures.

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Coca Cola (KO) says management expects World Cup to drive engagement and provide an activation tailwind over the coming months

CATL (300750 CH) FY energy storage revenue CNY 62.44bln (exp. 74.17bln), Net income 72.2bln (exp. 69.98bln)

US PRE-MARKET MOVERS: Cruise Liners/Airliners/Lodging names, Defense/Energy, Supertankers, VRT/LITE/SATS, MTCH/MOH/PAYC, LW, LYV, HIMS

Mexican Core Inflation Rate YoY (Feb) Y/Y 4.5% vs. Exp. 4.50% (Prev. 4.52%)

Mexican Inflation Rate YoY (Feb) Y/Y 4.02% vs. Exp. 3.94% (Prev. 3.79%)

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ES -1% NQ -1% RTY -1.7%

  • Cruise liners NCLH -3.5% RCL -2.9% CCL -3.2%, Airliners UAL -2.3% AAL -3% JBLU -3% DAL -3% & Lodging names MAR -2.3% BKNG -1.4% all seeing extended weakness
  • Defense names LMT +1% RTX +1.2% GD +1.2% & Energy stocks OXY +1.5% XOM +1% CVX +1% gain
  • Supertankers FRO -2.1% DHT -0.7% ECO -2.4% hit
  • VRT +2.3% LITE +2.8% SATS +2.3%: Will be included into the SPX, effective BMO on March 23
  • MTCH -2.5% MOH -1% PAYC -1.6%: Will be removed from the SPX, effective BMO on March 23
  • LW +0.4%: Starboard Value has built a sizeable stake; also, to be removed from SPX effective March 23
  • LYV +7%: Close to settling a federal antitrust lawsuit w/o Ticketmaster sale
  • HIMS +43%: Novo Nordisk reportedly plans to sell ​its weight-loss drugs on HIMS platform
Context

Meanwhile, defense and energy stocks are seeing positive momentum, possibly driven by geopolitical factors or rising oil prices. Notably, the upcoming changes in SPX composition with VRT, LITE, and SATS being added, while MTCH and MOH are removed, will likely impact trading strategies for those stocks heading into the market open.

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