Peloton, Roku, Moderna, Qualcomm Fall Premarket; ConocoPhillips Rises

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Peloton, Roku, Moderna, Qualcomm Fall Premarket; ConocoPhillips Rises

By Peter Nurse -- Stocks in focus in premarket trade on Thursday, November 3rd. Please refresh for updates.

  • Qualcomm (NASDAQ: QCOM ) stock fell 8.1% after the chipmaker's forecast for holiday quarter revenue fell short of expectations, as it struggles with a slump in sales to smartphone customers.

  • Peloton (NASDAQ: PTON ) stock fell 16.4% after the exercise bike manufacturer forecast second quarter revenue below expectations as it struggles with weak demand for its fitness equipment.

  • Roku (NASDAQ: ROKU ) stock slumped 20% after the streaming platform forecast holiday quarter revenue below estimates as ad spending dries up.

  • ConocoPhillips (NYSE: COP ) stock rose 1.5% after the oil major reported a sharp jump in third quarter profit, and lifted its share repurchase plan to $45 billion.

  • Moderna (NASDAQ: MRNA ) stock slumped 12% after the drugmaker cut the annual sales forecast for its COVID-19 vaccine, citing short-term supply constraints.

  • Under Armour (NYSE: UA ) stock rose 5.6% after the sportswear retailer forecast growing sales in 2023 even as consumers cut back on discretionary purchases.

  • Fortinet (NASDAQ: FTNT ) stock fell 13% after the cybersecurity firm disappointed with its revenue growth while its billing guidance fell short of expectations.

  • Qorvo (NASDAQ: QRVO ) stock fell 5.4% after JPMorgan downgraded its stance on the semiconductor all the way down to 'underweight' from 'overweight', saying it could underperform its peers.

  • Restaurant Brands (NYSE: QSR ) stock rose 4% after the fast food holding company posted better than expected quarterly numbers , helped by sales growth at Burger King and Tim Hortons.

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