Premarket trading highlights earnings winners and defense, energy volatility

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Premarket trading highlights

Highlights

Lockheed Martin rises 3% after strong Q3 results and raised 2026 guidance; Spotify gains 5% on upbeat Q4 outlook and CSX adds 2% on revenue beat.
Tesla drops 3%, Meta Platforms slips 2%, and Lam Research falls over 7% as investors react negatively to guidance or outlook despite some earnings beats.
Aevex soars over 11% disputing U.S. Navy order halt reports, QuantumScape climbs 7% on solid-state battery plans for AI data centers, and energy stocks rise with oil prices.

Earnings and company updates drive major movers

As reported by CNBC, Lockheed Martin, Spotify and CSX are among the premarket gainers after posting results or guidance that exceeded Wall Street expectations, while Tesla, Meta Platforms, IBM, Rollins, Las Vegas Sands and Lam Research are under pressure despite some earnings beats.

Lockheed Martin shares rise 3% after the defense group reports better-than-expected third-quarter results and lifts its 2026 earnings and revenue guidance. Spotify gains 5% after issuing fourth-quarter revenue guidance above analyst expectations and saying monthly active users rise 11% from a year earlier to 788 million. CSX adds 2% after third-quarter earnings top forecasts, with revenue per unit increasing 7%, ahead of the StreetAccount consensus for 5.9% growth.

Tesla reverses earlier gains and is last down 3% even after third-quarter profit and revenue beat analyst estimates. Meta Platforms slips 2% although third-quarter revenue of $64.60 billion comes in above the LSEG consensus of $63.37 billion, and the midpoint of its fourth-quarter sales outlook is also ahead of Street estimates. IBM falls 5% despite reporting adjusted third-quarter earnings above expectations, while Rollins drops more than 5% after missing FactSet consensus estimates and Las Vegas Sands loses 2% after disappointing quarterly results.

Lam Research declines more than 7% after outlining second-quarter adjusted earnings and revenue guidance that is roughly in line with analyst expectations, suggesting investors are looking for a stronger outlook. Molina Healthcare dips 3% even though third-quarter results beat expectations, with investors focusing on unchanged full-year premium revenue guidance of roughly $42 billion and reaffirmed segment metrics.

Defense, battery and energy names add sector momentum

Aevex rises more than 11% after disputing a Bloomberg News report that said the U.S. Navy would no longer buy the company's GARC boat drone because of performance issues. In a release, Aevex says no orders have been halted, making the stock one of the session's strongest premarket movers.

Energy stocks are also moving higher as oil prices surge on renewed geopolitical fears. Kinder Morgan climbs nearly 2%, while APA, Valero Energy and ConocoPhillips each advance more than 1%, reflecting broader support for the sector.

QuantumScape surges 7% after announcing plans for a 100 megawatt-hour solid-state battery production line for artificial intelligence data centers. The move adds another catalyst outside earnings season, as investors assess how new industrial and AI-linked demand themes are influencing early trading across U.S. equities.

Our earlier article examined how the S&P 500’s push toward the 8,000 level is increasingly dependent on delivering exceptionally strong third-quarter earnings, as higher oil prices, elevated Treasury yields, and political uncertainty raise the bar for risk assets. It also highlighted concentration and market-breadth risks, noting that a narrow group of large-cap leaders has been masking underlying weakness across many index components.

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