These stocks were poised to make moves Friday:
Apple rose 1.8% in premarket trading as revenue jumped 8% from a year earlier to $102.5 billion and topped consensus. Revenue from the tech giant's iPhone business gained 6% but missed analysts' expectations. Apple reported iPhone revenue of $49 billion, below calls for $50.1 billion. Fiscal fourth-quarter earnings of $1.85 a share were higher than Wall Street consensus estimates of $1.78 and up from $1.64 a year earlier. Apple expects fiscal first-quarter total revenue to jump 10% to 12%, according to Chief Financial Officer Kevan Parekh, well ahead of Wall Street forecasts for an increase of 6%.
Amazon.com jumped 12% after posting third-quarter adjusted earnings of $1.95 a share, including investment gains from artificial-intelligence start-up Anthropic, and topping Wall Street expectations of $1.57. Revenue of $180.2 billion beat analysts' expectations of $177.9 billion, and revenue at the company's cloud computing arm, Amazon Web Services, rose 20% to $33 billion. Amazon anticipates fourth-quarter revenue of between $206 billion to $213 billion, up 10% to 13% from a year earlier. "We continue to see strong demand in AI and core infrastructure, and we've been focused on accelerating capacity," said Amazon CEO Andy Jassy.
Meta Platforms rose 1.5% after declining 11% on Thursday as Wall Street questioned the Facebook and Instagram parent company's aggressive spending plans on artificial intelligence. Meta lost $215 billion in market cap on Thursday, the 10th largest one-day market cap loss by a U.S. company on record, according to Dow Jones Market Data. Meta's decline ended a nine-session winning streak for the stock.
Netflix gained 3.2% in the premarket session after Reuters reported the video streamer was exploring a bid for Warner Bros Discovery's studio and streaming business. Netflix also said it would be splitting its stock 10-for-1 to "reset the market price of the company's common stock to a range that will be more accessible to employees who participate" in Netflix's stock option program. Coming into Friday, Netflix has risen 22% this year.
Strategy jumped 7.1% after the largest corporate holder of Bitcoin reported third-quarter profit of $8.42 a share compared with a year-earlier loss of $1.72. The company said its Bitcoin holdings rose to 640,808 in the period.
Coinbase Global posted third-quarter earnings and revenue that beat analysts' expectations on higher transaction revenue. Revenue of $1.9 billion jumped 55% from the year-earlier period. Transaction revenue jumped 37% to $1 billion, and subscription and services revenue of $747 million rose 14%. Shares of the cryptocurrency exchange jumped 5% ahead of the opening bell.
Reddit rose 12% after the social media company topped analysts' expectations for both third-quarter earnings and revenue. Revenue in the period jumped 68% and ad revenue soared 74%. Daily active users rose 19% in the quarter to 116 million.
Cloudflare added 7.6% after the IT security company beat Wall Street's earnings targets, reporting an adjusted profit of 27 cents a share as revenue climbed 31% from a year earlier to $562 million.
Zillow, the real estate listings and technology company, earned 4 cents a share on revenue of $676 million in the third quarter, better than estimates that called for profit of 2 cents a share on revenue of $671 million. Zillow said it anticipates fourth-quarter revenue in a range from $645 million to $655 million, more than expectations of $644 million. The stock gained 1.3%.
Shares of Navan, Inc. , a corporate travel and expense-management company, tumbled 2.4% to $19.52 in premarket trading after debuting Thursday on the Nasdaq Global Market at $22 a share and ending the session at $20, down 20% from the stock's initial public offering price of $25.