Premarket movers
Nvidia leads Mag 7 stocks higher, poised to extend gains for a fifth consecutive session, after SPCX announced an exclusive partnership to build its future AI infrastructure entirely on NVIDIA’s platforms. Meanwhile, Tesla is underperforming as SpaceX’s debut earnings after IPO disappoints. Other Mag 7 names are mostly higher (Nvidia +1.8%, Alphabet +1.2%, Apple +0.9%, Amazon +0.7%, Meta +0.5%, Microsoft +0.2%, Tesla -1.2%)
AMD (AMD) falls 7% after the chipmaker’s third-quarter sales forecast underwhelmed investors expecting a stronger performance amid healthy demand.
Arista Networks (ANET) jumps 12% after the cloud-networking company forecast better-than-expected revenue for the third quarter. Analysts note that demand remains very healthy.
Booking (BKNG) is up 7% after the online travel agency reported gross bookings for the second quarter that beat the average analyst estimate. The company said healthy global travel trends continued into the third quarter despite the ongoing conflict in the Middle East.
CVS Health (CVS) rises 3% after the health insurer boosted its adjusted earnings per share guidance for the full year.
Digital Turbine (APPS) soars 27% after the mobile network company boosted its revenue guidance for the full year that topped the average analyst estimate and first-quarter results beat the consensus.
Elanco Animal Health (ELAN) gains 6% after the animal health firm boosted its revenue and adjusted profit guidance for the full year, following better-than-expected results for the second quarter.
Everus Construction (ECG) climbs 9% postmarket after raising its year revenue and Ebitda outlook. Second-quarter results topped expectations, with revenue growing 34% from the year-ago period.
Flutter (FLUT), the parent of the FanDuel, falls 5% after the company cut its US revenue guidance for the full year and appointed President Dan Taylor as chief executive officer from Oct. 1.
Kratos (KTOS) gains 10% after the defense contractor boosted its revenue guidance for the full year, topping the average analyst estimate.
Match Group (MTCH) drops 8% after providing a revenue forecast for the current quarter that narrowly missed analysts’ estimates, suggesting its dating sites still need to attract more younger users.
New York Times (NYT) falls 8% after the news company reported second-quarter results.
Pinterest (PINS) drops 9% after the social media platform’s revenue outlook for the current quarter disappointed investors.
Shopify (SHOP) climbs 28% after the e-commerce platform operator reported revenue for the second quarter that beat the average analyst estimate.
SpaceX (SPCX) falls 11% after it disclosed higher-than-expected spending on its artificial intelligence business, overshadowing an inaugural quarterly report that broadly surpassed Wall Street forecast.