Stocks Moving Premarket: Intel Plunges 25% on a Weak Outlook, Amazon Slides on Cash Burn and Reddit Craters
Nasdaq 100 futures drop about 2% after Amazon and Intel results; Reddit, Roblox, Twilio and Pinterest sink while Rivian climbs. Plus the jobs report week calendar & what to watch.
U.S. stock futures pointed sharply lower Friday, Oct. 30, as Amazon and Intel results deepened worries about AI spending returns. Nasdaq 100 futures were down about 2% to 2.5% while Dow futures were roughly flat. Intel is down about 25% premarket, Amazon about 7%, and Reddit, Roblox, Twilio and Pinterest are also sharply lower. Rivian is higher. Stocks trade normally today, and all moves below are premarket and can change by the open.
Economic calendar: today and the coming week
The Fed held its target range at 3.75% to 4.00% on Oct. 28 by a 10-2 vote, with Lisa Cook and Beth Hammack preferring a quarter-point increase, according to StockTitan. September PCE inflation, released Thursday, rose 3.6% from a year earlier (core 3.1%), and Yahoo Finance reported markets price better than an 80% chance of a December hike. Reuters said analysts widely expect a hike as soon as December. Investrade showed the 10-year Treasury yield near 4.93%. No Fed rate decision is scheduled next week, so the jobs report and Fed speakers matter for rate expectations. Times below are Eastern; some release times were not confirmed by the sources, so check before relying on them.
| Day | Time | Event |
|---|---|---|
| Fri, Oct. 30 | 8:30 AM ET | Employment Cost Index for Q3 (expected +0.8%, prior +0.9%) |
| Fri, Oct. 30 | 9:45 AM ET | MNI Chicago PMI for October (expected 54.6, prior 58.8) |
| Fri, Oct. 30 | 1:00 PM ET | Baker Hughes rig count |
| Sun, Nov. 1 | 2:00 AM | Daylight saving time ends; clocks go back an hour |
| Mon, Nov. 2 | 10:00 AM ET | ISM manufacturing PMI for October; Fed's Goolsbee speaks |
| Mon, Nov. 2 | After the close | Earnings: Apple, Palantir, Marriott, Progressive, Vertex |
| Tue, Nov. 3 | All day | U.S. midterm elections |
| Tue, Nov. 3 | 10:00 AM ET | JOLTS job openings for September; factory orders for September |
| Tue, Nov. 3 | Before / after the open | Earnings: AMD, Amgen, Arista Networks, Marathon Petroleum, Pfizer |
| Wed, Nov. 4 | Morning | ADP employment for October |
| Wed, Nov. 4 | 10:00 AM ET | ISM services PMI for October |
| Wed, Nov. 4 | Before / after the open | Earnings: CVS Health, McDonald's, Uber, Qualcomm |
| Thu, Nov. 5 | 8:30 AM ET | Weekly jobless claims; Q3 productivity and unit labor costs; Challenger job cuts; Fed's Hammack speaks |
| Thu, Nov. 5 | Before / after the open | Earnings: Airbnb, Arm, ConocoPhillips |
| Fri, Nov. 6 | 8:30 AM ET | October jobs report (payrolls, unemployment rate, hourly earnings) |
| Fri, Nov. 6 | 10:00 AM ET | University of Michigan consumer sentiment for November (preliminary); Fed's Williams speaks |
| Fri, Nov. 6 | Before the open | Earnings: Charter Communications, Humana, Moderna, Vistra |
Notable premarket moves
| Company | Ticker | Premarket | Why |
|---|---|---|---|
| Intel | INTC | -25% to $68.26 | Q4 outlook missed (revenue of $15B to $16B, non-GAAP EPS of $0.25) and management warned the PC slowdown could last into the first half of 2027, though Q3 beat; Reuters also cited a cash-burn warning |
| RDDT | -21% to $102.82 | CEO warned Q4 daily active unique visitors could fall by a low double-digit percentage if search referral traffic keeps declining (Reuters showed -21.1%; other outlets -22% to -23%) | |
| Roblox | RBLX | -17.4% to $43.31 | Q3 bookings of $1.7B beat the $1.62B estimate and the loss was narrower than expected, but daily users fell 9% to 138M and Q4 bookings are guided down 10% to 15% |
| Twilio | TWLO | about -17% | Topped Q3 estimates, but shares sank on a cautious outlook (move as reported by Investrade; other outlets showed a smaller decline) |
| PINS | -8% | Q3 revenue of $1.17B missed the $1.21B estimate and Q4 guidance of $1.425B to $1.475B came in below expectations (Reuters) | |
| Dell Technologies | DELL | over -10% | Fell with PC-linked names after Intel's PC demand warning (as reported by TradingKey) |
| Sandisk | SNDK | -8% | Memory stocks slid broadly (TradingKey showed -8%, Investrade -7.6%) |
| Amazon | AMZN | -7% to $226.48 | Reported Q3 misses, trailing 12-month free cash flow of -$42.4B and Q4 sales guidance of $240B to $247B vs. about $244.2B expected; 2026 capex stays near $220B |
| AMD | AMD | -7% | Chip stocks fell in the AI-spending selloff (Reuters) |
| HP Inc. | HPQ | over -8% | Fell with PC-linked names after Intel's PC demand warning (as reported by TradingKey) |
| AbbVie | ABBV | -3% | Q3 adjusted EPS of $3.82 beat the $3.74 consensus, but the raised 2026 EPS range ($13.95 to $13.99) was roughly in line with expectations; dividend raised 5.2% to $1.82 |
| Nvidia | NVDA | -2.5% | Broader AI infrastructure selloff; Stocktwits also cited a Bloomberg report that it is in talks to provide credit guarantees for an Nscale data center |
| Rivian | RIVN | +6% to +9% | Raised 2026 delivery guidance to 67,000 to 70,000 vehicles from 65,000 to 70,000 (sources differ on the size of the gain) |
| Exxon Mobil / Chevron | XOM / CVX | Higher | Both beat Q3 profit estimates on war-driven refining margins (adjusted EPS of $4.23 and $5.28); they used the windfall to cut debt. Investrade said both rose initially; the size of the premarket gain was not confirmed |
Alphabet was down about 0.9% premarket, extending a record selloff from the prior session after weak search-advertising results and higher cash outflows (Reuters). Sources differ on exact quotes, and the list excludes leveraged ETFs and microcap stocks.
Analyst calls
Among Friday's rating changes compiled by 24/7 Wall St.:
| Company | Ticker | Firm | Change |
|---|---|---|---|
| Intel | INTC | Bank of America | Buy to Neutral; target $145 to $100 |
| Intel | INTC | KGI Securities | Neutral to Outperform; target $95 |
| RDDT | Oppenheimer | Outperform to Perform | |
| Boston Scientific | BSX | TD Cowen | Buy to Hold; target $56 to $46 |
| Stryker | SYK | Canaccord | Buy to Hold; target $385 to $300 |
| Rivian | RIVN | Jefferies | Hold to Buy; target $17 |
| DoorDash | DASH | Wedbush | Neutral to Outperform; target $220 to $230 |
| GE Vernova | GEV | HSBC | Hold to Buy; target $1,040 to $1,100 |
| Incyte | INCY | Oppenheimer | Perform to Outperform; target $120 to $144 |
Index futures
As of about 4 AM to 7 AM ET, S&P 500 futures were down roughly 1.0% to 1.1% (about 78 to 80 points), Nasdaq 100 futures down about 2.2% to 2.5% (about 640 to 694 points) and Dow futures roughly flat, as reported by Reuters, Stocktwits and Investrade. Thursday's session was hit by an Alphabet-led tech selloff after the company's earnings. WTI crude was near $104 to $105 and Brent near $113 to $117 as Middle East supply fears persisted, and gold fell to about $3,970 to $3,990 an ounce, according to TradingKey and Investrade. Bitcoin was near $77,500 after Binance disclosed a security incident.
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