Stocks Making the Biggest Moves Premarket: Exxon Mobil, Lockheed Martin, Walt Disney and More

Check out the companies making headlines before the bell:

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Walt Disney: Shares of the media conglomerate increased by over 1% after reports from The Wall Street Journal indicated that activist investor Nelson Peltz's Trian Fund Management had boosted its investment and might aim for multiple board seats, potentially including Peltz himself. Trian's stake has now surpassed $2.5 billion, having acquired over 30 million shares, up from 6.4 million at the end of June. Trian declined to provide a comment.

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Arm Holdings: The chipmaker's stock saw a nearly 3% rise following JPMorgan's initiation of coverage with an overweight rating, commending the company's prospective expansion into the automotive industry.

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Spotify Technology: The music streaming platform experienced a 2% decrease after Redburn Atlantic downgraded its shares from buy to neutral. The downgrade was based on factors such as gross margin dilution resulting from Spotify's recent decision to include audiobooks in its premium subscription package.

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Zscaler: The cloud security company's stock inched upwards after Barclays upgraded it to an overweight rating. Analyst Saket Kalia highlighted a new growth opportunity in an emerging segment as the rationale for the upgrade.

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Oracle: Shares of Oracle added approximately 1% after Evercore ISI upgraded the company from an in-line to an outperform rating. The Wall Street firm identified an attractive entry point for the software stock following its recent decline.

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Exxon Mobil, Chevron, Occidental Petroleum: Energy stocks surged as oil prices rallied following an attack on Israel by the Palestinian militant group Hamas over the weekend. Exxon and Chevron witnessed gains of more than 2%, while Occidental Petroleum saw an increase of over 3%.

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Blue Owl Capital: The investment company's shares declined by 2.6% after Oppenheimer downgraded it from an outperform to a perform rating.

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Mirati Therapeutics: Shares of the oncology company, known for its Krazati lung cancer medicine, slipped 4.7% following the announcement by Bristol Myers Squibb that it would acquire Mirati for $58 per share in cash, amounting to a total equity value of $4.8 billion. This move would add Mirati's product to Bristol Myers Squibb's commercial portfolio.

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Tesla: Tesla's shares decreased by more than 1% after data from the China Passenger Car Association revealed a 10.9% year-over-year decline in sales in China last month. In contrast, rival BYD saw its sales grow by more than 40%.

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Lockheed Martin: The aerospace and defense company experienced a premarket trading rise of approximately 4.5% following the unexpected attack on Israel by Hamas.

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