U.S. stock futures were mixed with a slight upward bias on Wednesday, as investors weighed a busy earnings season, rapid developments in artificial intelligence, and geopolitical tensions in the Middle East.
Here are the most active US stocks in today's pre-market trading:
By 1:07 PM Saudi time, Dow Jones Industrial Average futures were down 66 points, or 0.1%, while S&P 500 futures were up 6 points, or 0.1%, and Nasdaq 100 futures were up 87 points, or 0.3%, indicating a slight rise in the major technical indices.
Shares of Super Micro Computer jumped 12.7% in pre-market trading to $36.69, following its forecast of quarterly revenue and profit margins comfortably exceeding Wall Street estimates, reassuring investors that demand for AI data center infrastructure remains strong.
SpaceX shares surged more than 8% in pre-market trading, while Tesla shares added more than 2%, after CEO Elon Musk revealed that the two companies have formed separate, independent committees to assess the possibility of a merger. Speaking after SpaceX released its second quarterly report following its initial public offering on Tuesday evening, Musk indicated that negotiations are in their early stages and that he is not a member of either committee. However, he noted that he sees strong synergies in the areas of artificial intelligence software, chip design, robotics, and communications.
Shares in SCHMID Group NV rose 12.5% following the release of its third-quarter earnings report, which revealed a sharp acceleration in order volume. Driven by strong demand in the electronics equipment sector, management raised its full-year 2026 order volume target to over €150 million, compared to the previous range of €125 million to €150 million.
Elevance Health shares rose 1.8% after the company's third-quarter 2026 results comfortably beat expectations. Adjusted diluted earnings per share (EPS) came in at $6.99, compared to analysts' expectations of $4.70, while revenue rose 0.7% year-over-year to $50.4 billion. Management also raised its full-year adjusted EPS minimum to at least $29.00 and increased its operating cash flow guidance to at least $6.5 billion.
Shares of Capital One Financial rose 3.2% after it reported adjusted earnings per share for the third quarter of $6.69, beating Wall Street estimates by about 22%. Its net interest margin also widened by 40 basis points quarter-on-quarter to 8.41%, driven by higher credit card loan yields, while lower provisions and the release of $225 million from loan reserves boosted profitability.
DigitalOcean shares rose 3.7% after Piper Sandler upgraded its rating on the cloud infrastructure provider from neutral to overweight. While the firm lowered its price target to $126 from $142 to account for near-term margin pressures, it noted that the recent pullback in the stock created an attractive entry point given the company's exposure to emerging AI firms.
Netflix shares fell 6.0% in premarket trading after the company lowered its full-year advertising revenue forecast and issued a weaker-than-expected fourth-quarter earnings outlook. With the stock down more than 26% since the start of the year, the streaming platform is on track to wipe out nearly $17 billion in market value if the premarket losses continue.
Intuitive Surgical's shares fell 7.9% to $403.60 despite exceeding key earnings and revenue estimates. While third-quarter revenue rose 22% to $30.5 billion and adjusted earnings per share reached $3.00, sentiment was weighed down by a $450 million pre-tax charge related to a legal settlement concerning the da Vinci system, resulting in a net income of $523 million.
Alpha Teknova shares plunged 30.7% to $5.12 after the company announced an initial public offering (IPO) of 8 million shares at $5.00 per share, a steep discount from the previous closing price of $7.39. The IPO is expected to generate $40 million in total proceeds, which will be used for general corporate purposes and debt reduction.
