Premarket movers: Crown Castle jumps 7.5% on SpaceX talks; Autoliv slides

  U.S. stock futures edged lower on Friday after a selloff in technology shares in the previous session, as investors weighed concerns about financing for artificial intelligence infrastructure, elevated oil prices and turmoil in French bond markets. 

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

By 07:15 ET (11:15 GMT), S&P 500 futures had fallen 18 points, or 0.2%, Nasdaq 100 futures had slipped 29 points, or 0.1%, and Dow futures had declined 315 points, or 0.6%.

Western Digital shares fell more than 4.5% in premarket trading despite the data-storage maker reporting better-than-expected fiscal first-quarter results and issuing an upbeat forecast for the current quarter. The stock initially gained about 4% following the results before reversing lower after the earnings call, as investors remained concerned about the capital required to finance the AI infrastructure buildout.

Western Digital said its blended average selling price per terabyte of storage rose 28% during the quarter, reflecting strong demand and tight supply. The company expects capital expenditure to average 4%-6% of revenue over the next five years, with the ratio running modestly higher over the next two years. It also expects to reduce its cost per terabyte by about 10% year over year in the near term, despite rising input costs.

American Tower gained 3.3% after a Bloomberg report said SpaceX was in active discussions to secure access to around 80,000 U.S. cell sites as part of a nationwide wireless network buildout. The potential agreements could generate substantial leasing revenue for tower operators, including American Tower, which operates roughly 41,764 sites across the U.S. and Canada. The company is scheduled to report third-quarter results on October 27, with analysts expecting earnings per share of $2.84 and revenue of approximately $2.77 billion.

Crown Castle surged 7.5% after the same report identified the tower operator as one of the companies in direct discussions with SpaceX over access to cell sites. The potential deals could be worth billions of dollars and provide a significant new revenue opportunity. CEO Chris Hillabrant had also confirmed during the company’s third-quarter earnings call on October 21 that Crown Castle was in discussions with major parties when asked about satellite operators.

American Express shares fell 2.5% in premarket trading despite the credit card company raising its full-year profit forecast after reporting strong third-quarter results. Revenue rose 9% year over year to $20.1 billion, while billed business, a measure of spending across cards issued by the company, increased 8% to $454 billion. CEO Stephen Squeri cited strength in spending, new customer acquisitions and card-member retention, alongside strong credit quality. American Express now expects 2026 earnings per share of $18.30-$18.60, compared with its previous forecast of $17.30-$17.90.

Autoliv dropped 6.3% after the automotive safety systems supplier reported weaker-than-expected third-quarter results. Adjusted earnings per share came in at $2.19, below estimates of $2.31, while sales of $2.693 billion missed the $2.734 billion consensus. The company also narrowed its full-year adjusted operating margin outlook to around 10.5%, the lower end of its previous range of 10.5%-11%. The results followed a period of deteriorating analyst expectations, with earnings estimates having fallen by more than 20% over the preceding 90 days.

SK Hynix’s U.S.-listed shares rose 5.1% to $138.40 after the South Korean memory-chip maker suspended its review of a pre-IPO fundraising round and a potential Nasdaq listing for Solidigm, its U.S.-based NAND flash memory subsidiary. The company cited capital-market conditions and recent share-price trends. The decision had been anticipated by some investors following concerns raised by South Korean financial regulators about the implications of a dual listing for existing shareholders.

Robert Half surged 10.1% after the staffing and business consulting company reported third-quarter results that exceeded earnings expectations. Adjusted earnings per share reached $0.49, above the $0.47 consensus, while revenue of $1.36 billion was broadly in line with forecasts. Investors also welcomed a return to year-over-year revenue growth in its Talent Solutions segment, which increased 2% for the first time since 2022. Net income per share rose 14% from $0.43 a year earlier, marking the company’s first year-over-year quarterly earnings-per-share increase since 2022.

Bloom Energy rose 2.5% in premarket trading after recovering some ground following a sharp selloff in the previous session. The fuel-cell power company reported non-GAAP earnings per share of $0.94, beating the $0.69 consensus, while revenue surged 138% year over year to $1.24 billion, above estimates of $1.06 billion. However, the results had initially disappointed investors, with negative net cash flow of approximately $180 million during the quarter raising concerns about the cash demands of expanding manufacturing capacity.

RingCentral jumped 15.5% after the cloud communications company reported stronger-than-expected third-quarter earnings and raised its full-year outlook. Non-GAAP earnings per share came in at $1.33, topping the $1.28 consensus, while revenue rose 5.9% year over year to $676 million. The company raised its full-year 2026 adjusted earnings-per-share forecast to $5.07-$5.12, above analyst expectations of $5.03, and lifted its free cash flow outlook to $620 million-$630 million. Its non-GAAP operating margin expanded to 24.7%, nearly 200 basis points higher than a year earlier, while its GAAP operating margin reached a record 8%, compared with 4.8% in the year-ago quarter.

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