Market Movers: Tech, Auto, and Retail Giants Drive Premarket Surge

Tech and Auto Stocks Lead Premarket Rally

Technology and automotive companies are driving significant premarket activity following a wave of earnings reports and corporate announcements. According to market analysis, Intel shares surged more than 7% after the chipmaker reportedly exceeded revenue expectations, signaling a recovery in demand for its core x86 processors for personal computers.

Tech and Auto Stocks Lead Premarket Rally
Mixed Results Across Technology Sector
Retail and Consumer Goods Show Strength
Notable Earnings Standouts and Decliners
Financial Services and Gaming Sector Updates

Ford Motor Company shares followed closely with a 4.2% gain, sources indicate, after the automaker posted third-quarter results that surpassed analyst projections. The company reportedly earned 45 cents per share on an adjusted basis, exceeding the 36 cents anticipated by LSEG-polled analysts, while revenue reached $47.19 billion against a $43.08 billion consensus estimate.

Mixed Results Across Technology Sector

While some technology companies celebrated positive developments, others faced challenges. Alphabet shares climbed more than 1% after its cloud partnership with AI company Anthropic was officially announced, according to reports. The deal, valued at tens of billions of dollars, reportedly gives Anthropic access to up to one million of Google’s custom-designed Tensor Processing Units.

Meanwhile, Applied Materials shares dipped slightly following news that the chip equipment manufacturer is laying off 4% of its global workforce. The company reportedly began notifying affected employees across all levels and groups on Thursday.

Retail and Consumer Goods Show Strength

Consumer-focused companies demonstrated varied performance in premarket trading. Target shares rose slightly after the retailer announced it’s cutting approximately 1,800 corporate jobs, representing about 8% of its corporate workforce. Analysts suggest this marks the first major round of layoffs for the Minneapolis-based company in a decade.

Procter & Gamble shares gained 3.6% after the consumer goods giant reportedly exceeded Wall Street’s expectations for its fiscal first quarter. The company posted adjusted earnings of $1.99 per share on revenue of $22.39 billion, compared to analyst expectations of $1.90 per share on $22.18 billion revenue, according to LSEG data.

Notable Earnings Standouts and Decliners

Comfort Systems emerged as one of the morning’s biggest winners, with shares surging more than 18% following a strong third-quarter earnings report and dividend increase. The HVAC company reportedly earned $8.25 per share on $2.45 billion revenue, significantly exceeding FactSet analyst expectations of $6.29 per share on $2.16 billion revenue.

In contrast, Deckers Outdoor shares plunged 12% after the company‘s revenue forecast fell short of expectations. The owner of Hoka and Ugg brands expects full-year revenue of approximately $5.35 billion, below the $5.45 billion that LSEG-surveyed analysts had anticipated.

Financial Services and Gaming Sector Updates

Coinbase shares rose 3% after JPMorgan upgraded the cryptocurrency exchange’s stock to overweight from neutral and increased its price target to $404 from $342. According to the analysis, the bank cited Coinbase’s exploration of a token launch linked to its decentralized finance platform, Base, and initiatives to attract more customers to its subscription service as potential growth catalysts.

Boston Beer Company shares gained 2% after the brewer posted better-than-expected third-quarter earnings and raised its full-year guidance. The report states the company earned $4.25 per share for the quarter, exceeding FactSet’s expectation of $3.33 per share, while raising its full-year earnings guidance to between $7.80 and $9.80 per share.

Boyd Gaming shares dipped 1.7% despite posting third-quarter results that benefited from a FanDuel stake sale. The company reportedly earned $1.72 per share on $1 billion revenue, compared to FactSet analyst expectations of $1.62 per share on $875.1 million revenue.

SLM Corporation shares jumped 8% in premarket trading after the consumer bank raised its full-year earnings guidance, with investors reportedly responding positively to buyback activity. However, the company’s third-quarter earnings of 63 cents per share missed FactSet’s estimate of 80 cents per share.

References

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A recent cyber attack on Jaguar Land Rover is projected to cost approximately £1.9 billion, making it the most expensive in UK history. The incident has disrupted production and supply chains, with full recovery not anticipated until 2026.

Unprecedented Financial Impact

The cyber attack on Jaguar Land Rover (JLR) is reportedly the most economically damaging cyber event in UK history, with estimated costs reaching £1.9 billion, according to researchers at the Cyber Monitoring Centre (CMC). The attack, which began in late August, forced a five-week halt in production and caused extensive delays across JLR’s supply chain, affecting around 5,000 businesses. Analysts suggest that a full recovery may not be achieved until January 2026, highlighting the long-term repercussions of such incidents.