Sable Offshore Plunged 14% Today – What Is The Feud With California State?

Friday’s market has seen swings in various stocks based on news and other factors. Today, stocks like Intel and Iris Energy are experiencing significant movements. Below are highlights of some of the biggest stock movers, from mega-caps to small caps.

Mega-Cap Movers (Market Cap:$200B+ USD)

• Intel (INTC) -17.79%
• Goldman Sachs Group (GS) -3.54%
• Caterpillar (CAT) -3.61%
• Microsoft (MSFT) +3.78%
• Facebook Inc (META) +2.51%
• Netflix, Inc. (NFLX) +2.74%
• Palantir Technologies Inc (PLTR) +2.56%
• Amazon Com Inc (AMZN); Amazon to cut thousands of jobs next week - report +2.09%
• Morgan Stanley (MS) -2.27%
• American Express (AXP) -2.21%

Large-Cap Stock Movers (Market Cap:$10-$200B USD)

• Iris Energy (IREN) +10.64%
• Booz Allen Hamilton Holding Corp (BAH) +5.9%
• Tencent Music Entertainment Group (TME) +5.46%
• Rambus Inc (RMBS) -8.43%
• Moderna (MRNA) -7.23%
• Capital One (COF); Capital One to Acquire Fintech Brex for $5.15B - WSJ -6.82%
• Amkor Technology (AMKR) -6.25%
• SanDisk Corp-Exch (SNDK) -5.31%
• Advanced Energy (AEIS) -5.79%

Mid-Cap Stock Movers (Market Cap:$2-$10B USD)

• EquipmentShare Com Inc (EQPT); EquipmentShare prices IPO at $24.50 per share, begins trading today +18.59%
• Sustainable Opportunities Acqui (TMC) +12.2%
• Voyager Technologies (VOYG); Wedbush initiates Voyager Technologies stock with Outperform rating +9.89%
• CleanSpark (CLSK) +6.99%
• Customers Bancorp Inc (CUBI); Customers Bancorp shares fall as revenue misses estimates -9.44%
• Crispr Therapeutics AG (CRSP) -9.36%
• Apogee Therapeutics (APGE) -11.07%
• Materion Corp (MTRN); Seaport Global downgrades Materion stock to Neutral from Buy on valuation -11.76%
• Valeant Pharma (BHC); Bausch Health’s phase 3 trials for liver cirrhosis drug fail to meet endpoint -10.5%
• BitGo Holdings Inc (BTGO) -14.68%

Small-Cap Stock Movers (Market Cap:$300M-$2B USD)

• Puyi ADR (MAAS); Maase to acquire Huazhi Future in RMB1.1 billion deal +21.88%
• Sigma Lithium US (SGML) +17.3%
• Nexters (GDEV) +15.5%
• DAQQ New Energy Corp (DQ) +13.15%
• JinkoSolar Holding Comp Ltd (JKS) +10.92%
• Northrim BanCorp (NRIM) -16.09%
• Velo3D (VELO) -15.35%
• Flame Acquisition (SOC) -14.88%
• Burning Rock Biotech Ltd (BNR) -12.84%
• NovaBay Pharmaceuticals Inc (NBY) -12.59%

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This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Investing.com -- Sable Offshore (NYSE:SOC) shares dropped 10% on Friday after California’s attorney general announced a lawsuit against the Trump administration for allowing the company to restart pumping oil through two state pipelines.

The legal action represents the latest development in an ongoing dispute between Sable and California officials regarding a drilling project off the Santa Barbara coast that was shut down following a 2015 oil spill.

California Attorney General Rob Bonta stated that the administration violated the law by reclassifying the Las Flores pipelines as "interstate" last month, despite the fact that they run between two California counties. This reclassification enabled the federal Pipeline and Hazardous Materials Safety Administration to issue an emergency permit allowing operations to resume.

The petition will be filed in the U.S. Court of Appeals for the Ninth Circuit, according to the attorney general’s office.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.