Stocks Moving Premarket: RingCentral Jumps on a Raised Outlook, Crown Castle Climbs on SpaceX Talks and Deckers Slides
Futures dip after Thursday's AI-led tech selloff as oil holds near a five-month high; RingCentral, Robert Half and Crown Castle rise while Deckers, Autoliv and Kinsale fall. Plus the Fed week calendar & what to watch.
U.S. stock futures pointed lower Friday, Oct. 23, following Thursday's AI-driven tech selloff, with oil near a five-month high. RingCentral, Robert Half and Crown Castle are higher premarket, while Deckers Outdoor, Autoliv, Kinsale Capital and Western Digital are lower. Stocks trade normally today. All moves below are premarket and can change by the open.
Economic calendar: today and the coming week
The Fed's target range is 3.75% to 4.00%, according to Mitrade. A Reuters poll of economists (Oct. 16 to 20) found 94 of 100 expect the Fed to hold on Oct. 28, and all 100 expect a hike in December. CME FedWatch priced roughly a 17% chance of an October hike and about 83% for December as of Oct. 20, so odds vary by source and date. Schwab reported the 10-year Treasury yield at 5.03% on Thursday.
| Day | Time | Event |
|---|---|---|
| Fri, Oct. 23 | 9:45 AM ET | S&P Global flash manufacturing and services PMIs for October |
| Fri, Oct. 23 | 10:00 AM ET | University of Michigan consumer sentiment for October (revised) |
| Mon, Oct. 26 | 8:30 AM ET | Chicago Fed National Activity Index for September |
| Tue, Oct. 27 | 8:30 AM ET | Durable goods orders for September |
| Tue, Oct. 27 | 10:00 AM ET | Consumer confidence for October and new home sales for September |
| Wed, Oct. 28 | 2:00 PM ET | FOMC rate decision (no change expected, per Investrade) |
| Wed, Oct. 28 | After the close | Earnings: Alphabet and Microsoft (per Investrade) |
| Thu, Oct. 29 | 8:30 AM ET | Q3 GDP (advance), September PCE and core PCE prices, weekly jobless claims |
| Thu, Oct. 29 | After the close | Earnings: Amazon and Intel (per Investrade) |
| Fri, Oct. 30 | 8:30 AM ET | Employment Cost Index for Q3 |
Schwab also notes Bank of Japan and European Central Bank meetings next week.
Notable premarket moves
| Company | Ticker | Premarket | Why |
|---|---|---|---|
| RingCentral | RNG | +15.5% | Q3 EPS of $1.33 beat the $1.28 consensus and the full-year EPS outlook was raised above expectations (TheStreet showed +14.95%) |
| Robert Half | RHI | +10.1% | Q3 EPS of $0.49 beat the $0.47 consensus; Talent Solutions revenue grew year over year for the first time since 2022 (TheStreet showed +8.81%) |
| Crown Castle | CCI | +7.5% | Bloomberg reported SpaceX is in talks to access about 80,000 U.S. cell sites (TheStreet showed +9.83%) |
| SK Hynix ADR | SKHY | +5.1% to $138.40 | Suspended a pre-IPO fundraising review and a potential Nasdaq listing for its Solidigm unit |
| American Tower | AMT | +3.3% | Named in the same Bloomberg report on SpaceX cell-site talks |
| Bloom Energy | BE | +2.5% | Rebounding after a sharp selloff; Q3 EPS and revenue beat, though about $180M of negative cash flow raised concerns |
| SpaceX | SPCX | +1.6% to $147.04 | Reported a $4.4B Q3 profit; CFO guided Q4 capex to $35B to $40B vs. $19.6B in Q3 (as reported by TheStreet) |
| Deckers Outdoor | DECK | -8.4% | Mixed fiscal Q2 results and reduced FY27 guidance (Biztoc showed -9%) |
| Autoliv | ALV | -6.3% | Q3 adjusted EPS of $2.19 missed the $2.31 estimate, sales missed and the margin outlook was narrowed to the low end |
| Kinsale Capital | KNSL | -6.5% | Beat Q3 estimates, but the CFO will retire March 2, 2027 |
| SLM Corp. | SLM | -4.6% | Q3 loss of 19 cents per share vs. earnings of 17 cents expected; full-year guidance well below consensus |
| Western Digital | WDC | -4.5% | Beat fiscal Q1 and guided higher, but reversed lower after the call on worries about funding AI infrastructure spending |
| American Express | AXP | -2.5% | Raised its full-year profit forecast after strong Q3 results, but shares still fell |
Kering also fell about 12% on weak Q3 results, but it trades mainly in Europe and is not in the table. Leveraged ETFs and microcap stocks are excluded. Sources differ on exact quotes, which also change by the open.
Analyst calls
Among Friday's rating changes listed by Daily Trade Alert, which does not list price targets:
| Company | Ticker | Firm | Change |
|---|---|---|---|
| Deckers Outdoor | DECK | Piper Sandler | Neutral to Underweight |
| Norwegian Cruise Line | NCLH | JPMorgan | Neutral to Underweight |
| NVR | NVR | BofA | Buy to Underperform |
| Thermo Fisher | TMO | DZ Bank | Buy to Hold |
| SpaceX | SPCX | Phillip Securities | Sell to Buy |
| Allegion | ALLE | BofA | Neutral to Buy |
| MSC Industrial | MSM | Jefferies | Hold to Buy |
Index futures
As of about 7:15 AM ET, S&P 500 futures were down 18 points (-0.2%), Dow futures down 315 points (-0.6%) and Nasdaq 100 futures down 29 points (-0.1%), as reported by Investing.com. Thursday, the S&P 500 and Nasdaq fell on the AI-related tech selloff while the Dow finished essentially flat. WTI crude rose about 1.6% to $101 and Brent about 1.2% to $114.50, its highest in more than five months, amid Middle East clashes, as reported by TheStreet. Gold futures fell 0.55% to $4,037.90.
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