Premarket movers: Mag 7 stocks are mixed: Alphabet (GOOGL) plunges 11% after the company reported disappointing search and advertising sales that reinforced investor concerns about AI’s threat to its core business. Microsoft (MSFT) is up 1.7% after the company posted increasing growth in its cloud business and kept its capital expenditures in check, satisfying investors amid a drumbeat of concern that spending on artificial intelligence won’t pay off. Apple (AAPL) +1.3%, Meta Platforms (META) +1%, Tesla (TSLA) -0.2%, Nvidia (NVDA) -0.5%, Amazon (AMZN) -1.8% Software companies are broadly lower after disappointing quarterly results from ServiceNow and Fortinet added to concerns about the industry’s prospects in a world awash with AI. Blue Owl Capital (OWL) rises 4% after reporting a larger uptick in fees than analysts expected in the third quarter. Carvana (CVNA) is up 8% after the used-car retailer reported better-than-expected results on a key profit measure. Caterpillar (CAT) shares slump 9% after the company posted third-quarter earnings that only modestly beat expectations, raising concerns about the durability of the broad rally in AI-related stocks. Chipotle (CMG) is up 7% after the restaurant chain reported comparable sales for the third quarter that beat the average analyst estimate. DoorDash (DASH) agreed to buy rival Instacart (CART) in a deal that values the company at about $17 billion, the latest sign of consolidation in an increasingly competitive delivery market. Shares of Instacart are halted. EBay (EBAY) jumps 6% after the online auction company’s net revenue forecast for the full year beat the average analyst estimate. Fortinet (FTNT) plunges 26% after the security software company gave a disappointing outlook for service revenue. Glaukos (GKOS) is up 15% after the eye-focused medical device maker boosted its net sales guidance for the full year. The guidance surpassed Wall Street’s expectations. Marvell Technology (MRVL) falls 11% as the company is said to be in advanced talks to buy data center optics maker Lumentum Holdings (LITE), according to people familiar with the matter. Lumentum rises 6%. ServiceNow (NOW) drops 19% after the software company’s forecast for fourth quarter current remaining performance obligation fell short of the average analyst estimate.