North Carolina is bracing itself for a near category 5 strength storm on 9/11 as various company stocks are in play.
Hurricane Florence is on its way and more than 1mln people have been told to leave their homes to evade 140mph winds.
Duke Energy Corp (NYSE:DUK) caught the eye as it warned that power problems could be intense. The public, those that stay, are being urged to stockpile flashlights, batteries, food, water, medication and other supplies.
Hurricane Florence could strengthen to 'life-threatening' Category 5 https://t.co/xHvg2Zv3Py pic.twitter.com/g7bed5KLFB
— Fox News (@FoxNews) 11 September 2018
Shares in pre-market were unchanged at US$82.31 in New York.
Shares in the insurer Travelers Companies (NYSE:TRV) also dipped close to 1% to US$126.88 on worries about a possible surge in claims related to Florence.
Companies, unsurprisingly, that sell wood and such products, which people are using to board up properties, have also seen shares rise.
Home Depot Inc (NYSE:HD) shares advanced 1.01% to US$212.82 before the bell, while Lowes Cos Inc (NYSE:LOW) added 0.85% to stand at US$113.35 in pre-market deals.
Airlines are also in focus in pre-market as the storm approaches and many companies are preparing to get organized.
Major disruptions are expected at a handful of major air hubs in the region including Hartsfield-Jackson in Atlanta (a Delta Air Lines hub) and Charlotte Douglas International Airport (an American Airlines hub).
All major carriers issued waivers allowing passengers to rebook travel for free.
Delta Air Lines Inc (NYSE:DAL, shares unmoved at US$57.56) also announced it would cap fares, so it can measure revenue that it earns from fares surrounding the weather event.
United Continental Holdings Inc (NASDAQ:UAL) shares are up 0.12% in pre-market to US$88.20.
Investors lost their appetite for Yum China Holdings Inc (NYSE:YUMC) before the New York bell and shares slipped over 13% to US$32.21.
The group is the US $14bn operator of KFC restaurants in the People's Republic and the stock fell as a Chinese consortium is reportedly is set to drop its pursuit of the group.
The consortium included Hillhouse Capital and KKR & Co. and China’s sovereign wealth fund.
Also in the frame in pre-market deals was e-commerce behemoth Alibaba (NASDAQ:BABA), whose shares shed 2%.
It emerged that the group was headig into the Russian market, setting up a US$2bn joint venture with a Kremlin-backed fund and billionaire Alisher Usmanov’s Mail.ru Group.
Yesterday, shares slid as it announced that Jack Ma, the inimitable co-founder and executive chairman, will step down in a year.
-- updated to include share price movement of Travelers Companies --