Premarket movers: Airbnb, Cloudflare, IREN rally; Atlassian, Five9 tumble

 U.S. stock futures pointed to a mixed open on Friday as chip stocks rebounded following a broad-based selloff in the previous session, offering some relief to investors worried about the impact of the Democratic midterm election victory on the artificial intelligence boom. 

By 05:25 ET (10:25 GMT), Nasdaq 100 futures had gained 324 points, or 1.2%, while S&P 500 futures rose 19 points, or 0.3%. Dow futures moved in the opposite direction, falling 439 points, or 0.9%.

Here are some of the biggest premarket U.S. stock movers today:

Semiconductor stocks led the recovery, with the iShares Semiconductor ETF rising nearly 5% in premarket trading after the Nasdaq 100 suffered its worst session since April 2025 on Thursday.

Among individual chipmakers, Lam Research jumped more than 9%, Micron gained 7.5% and Marvell Technology rose about 7%. AMD and Applied Materials advanced more than 6% each, while Broadcom, Intel and U.S.-listed shares of SK Hynix added between 4% and 5%. SanDisk climbed 8.3% and Arm Holdings rose 6.2%.

Cloud-computing and AI infrastructure stocks also recovered. Astera Labs gained about 8% in premarket trading, while CoreWeave rose 6.3% and Oracle added 2.6%. European AI-linked stocks also staged a modest recovery after falling sharply following the midterm results.

IREN shares surged 18.1% in premarket trading after the data-center operator reported fiscal first-quarter 2027 results that beat analyst expectations, reversing a steep decline in the previous session.

Revenue reached $228 million, up 66% sequentially and above the consensus estimate of about $221 million. AI Cloud revenue nearly tripled to $200 million, exceeding expectations of roughly $185 million, while the business generated an 86% gross margin.

The company’s net loss narrowed to $263 million from $684 million in the preceding quarter, while adjusted EBITDA rose to $66 million, representing a 29% margin compared with 14% in the prior period.

Airbnb shares jumped 11.4% in premarket trading to $189.50 after the home-sharing platform reported third-quarter earnings and revenue above Wall Street estimates and raised its full-year outlook.

The company reported diluted earnings of $3.16 per share, beating analysts’ expectations of $2.85, while revenue climbed 19% year over year to $4.87 billion, ahead of the $4.75 billion consensus. The revenue increase marked its fastest growth in more than three years.

Airbnb’s board also authorized a new $12 billion share repurchase program. The company held $12.6 billion in cash, cash equivalents and short-term investments as of September 30.

Management raised its full-year 2026 revenue growth forecast to the high teens, from its previous expectation of at least mid-teens growth. For the fourth quarter, it expects revenue of $3.22 billion to $3.28 billion, above analysts’ estimate of $3.16 billion.

Atlassian shares fell 15.8% in premarket trading after the enterprise software company issued a weaker-than-expected growth outlook, overshadowing a quarterly earnings beat.

The company reported adjusted earnings of $1.65 per share, above analysts’ expectations of $1.43, while revenue rose 24% year over year to $1.77 billion, topping the $1.71 billion consensus.

However, management forecast fiscal 2027 revenue growth of about 13.75%, less than half the 24% growth reported in the first quarter. Its subscription annual recurring revenue growth forecast of about 18.5% also marked a slowdown from the 23% rate reported in the latest quarter.

Cloudflare shares surged 12.6% in premarket trading after the internet infrastructure and cybersecurity company reported third-quarter results that topped analyst expectations.

Revenue rose 39% year over year to $782.5 million, its fastest quarterly growth rate in nearly four years, beating Wall Street’s estimate of about $736.8 million. Adjusted earnings of $0.38 per share also topped analysts’ expectations of $0.34.

Halozyme Therapeutics shares fell 8.1% in premarket trading despite reporting third-quarter earnings and revenue above estimates, as investors focused on a full-year outlook that offered less of an upgrade than they had anticipated.

The biopharmaceutical company reported adjusted earnings of $2.39 per share, slightly above estimates, while revenue increased 39% year over year to $493 million. Halozyme raised its full-year 2026 revenue forecast to $1.86 billion to $1.925 billion and its adjusted earnings outlook to $8.75 to $9.05 per share. However, the midpoints of both ranges were only marginally above Wall Street expectations.

Applied Optoelectronics shares rose 5% in premarket trading after the optical networking equipment maker reported third-quarter results above analyst estimates and announced a major supply agreement with a hyperscale data-center customer.

The company reported non-GAAP earnings of $0.17 per share, beating estimates by $0.03, while revenue rose 127.5% year over year to $269.9 million, slightly above expectations. The new agreement could generate between $1 billion and $1.5 billion in revenue over three years, although the company also disclosed delays to a manufacturing expansion.

Guardant Health shares dropped 5.5% in premarket trading after the precision oncology company raised its full-year free cash flow burn forecast, overshadowing better-than-expected third-quarter results.

The company reported an adjusted loss of $0.29 per share, narrower than analysts’ expected loss of $0.75. Revenue rose 36% year over year to $361 million, also exceeding consensus. However, Guardant now expects full-year free cash flow burn of $205 million to $220 million, compared with its previous forecast of $195 million to $205 million.

Five9 shares tumbled 16.7% in premarket trading to $28.44 after the cloud contact-center software company issued a weaker-than-expected fourth-quarter earnings forecast, despite beating estimates for the latest quarter.

Third-quarter adjusted earnings came in at $0.82 per share, above analysts’ expectations of $0.80, while revenue reached $323.3 million, up 13% year over year and ahead of consensus.

However, Five9 forecast fourth-quarter adjusted earnings of $0.88 to $0.92 per share, putting the midpoint at $0.90, below Wall Street expectations. Management attributed its downward full-year earnings revision to changes in timing, planned organizational restructuring and a higher diluted share count.