Premarket movers:
Mag 7 stocks are mixed (Alphabet (GOOGL) -0.2%, Amazon (AMZN) -0.2%, Apple (AAPL) -0.1%, Meta Platforms (META) -0.5%, Microsoft (MSFT) -0.5%, Nvidia (NVDA) +0.2%, Tesla (TSLA) +0.1%)
Tower companies gain and wireless carriers slide after SpaceX was said to be targeting 80,000 or more US cell sites, with talks under way with at least one infrastructure owner. Crown Castle (CCI) +9%, American Tower (AMT) +6%; AT&T (T) -4%, T-Mobile (TMUS) -4%, Verizon (VZ) -3.8%
Autoliv (ALV) falls 5% after the maker of airbag systems cut its adjusted operating margin forecast for the full year.
Bloom Energy (BE), which has more than doubled this year on demand for AI power sources, is down 3% after its quarterly report. Bloomberg Intelligence notes that “operating cash flow turned negative in 3Q as contract assets, receivables and inventory rose.”
Deckers Outdoor (DECK) falls 7% after the footwear company cut its net sales guidance for the full year, which also fell short of the consensus estimate.
MaxLinear (MXL) climbs 2% after the semiconductor device company’s third-quarter results beat expectations and it gave a revenue forecast that is seen as strong.
Newmont Corp. (NEM) inches 1% lower after the miner forecast higher than expected 2027 spending for its Red Chris copper-gold mine in British Columbia.
Norwegian Cruise (NCLH) slips 3% after JPMorgan downgraded the stock to underweight and reduced his price target to a Street-low $11 per share. Norwegian is due to report third-quarter results on Oct. 29.
RingCentral (RNG) rises 16% after the communications software company raised its full-year forecast for adjusted earnings. It also reported third-quarter results that beat expectations.
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