Key Moments
- Netflix jumped 7.3% premarket after opting not to raise its bid for Warner Bros Discovery, while Paramount Skydance advanced 6.4%.
- Block soared 20% after announcing plans to cut over 4,000 jobs, nearly half its workforce, to support an AI-focused overhaul.
- CoreWeave slid 11% as a wider fourth-quarter loss and weaker adjusted margin metrics overshadowed a slight revenue increase.
Market Overview
U.S. equity futures traded lower on Friday as investors processed a new wave of corporate earnings alongside anticipation around upcoming inflation data. Several high-profile technology, media, retail and financial stocks showed notable moves in premarket trading.
Major Premarket Gainers and Losers
| Company | Exchange/Symbol | Premarket Move | Key Driver |
|---|---|---|---|
| Netflix | NASDAQ:NFLX | +7.3% | Walked away from raising bid for Warner Bros Discovery |
| Warner Bros Discovery | NASDAQ:WBD | -1.4% | Perceived decline in takeover prospects following Netflix’s decision |
| Paramount Skydance | NASDAQ:PSKY | +6.4% | Viewed as front-runner in corporate battle for Warner Bros Discovery |
| Block | NYSE:XYZ | +20% | Announced job cuts of over 4,000 roles as part of AI-centric overhaul |
| Dell Technologies | NYSE:DELL | +12% | Fourth-quarter results exceeded forecasts, supported by AI infrastructure demand |
| Carter’s | NYSE:CRI | -9.7% | Fiscal 2026 guidance disappointed, without factoring in recent tariff changes |
| Target | NYSE:TGT | -0.5% | Report that all cereals sold must be free of certified synthetic colors by end of May |
| CoreWeave | NASDAQ:CRWV | -11% | Wider fourth-quarter loss and miss on adjusted operating margin despite revenue uptick |
| Flutter Entertainment | LON:FLTRF | -13% | Projected 2026 profit growth below analyst expectations |
| Zscaler | NASDAQ:ZS | -9.6% | Beat on fiscal 2026 Q2 and outlook, but sentiment hurt by unmet investor optimism |
| Rocket Companies | NYSE:RKT | +7.3% | Fourth-quarter revenue and earnings surpassed expectations with strong guidance |
| Intuit | NASDAQ:INTU | -2.9% | Third-quarter profit forecast came in below estimates despite higher second-quarter profit |
Media and Entertainment: Shifts in Deal Expectations
Netflix (NASDAQ:NFLX) climbed 7.3% in premarket trading after the company chose not to increase its bid for Warner Bros Discovery (NASDAQ:WBD). Shares of Warner Bros Discovery slipped 1.4%, while Paramount Skydance (NASDAQ:PSKY) advanced 6.4%, with the latter seen as the probable victor in a prolonged corporate contest for the Hollywood company.
Technology, Payments and AI-Related Moves
Block (NYSE:XYZ) surged 20% after the payments firm disclosed it will eliminate over 4,000 positions, nearly half of its workforce, as it undertakes a broad restructuring designed to integrate artificial intelligence throughout its operations.
Dell Technologies (NYSE:DELL) rose 12% after the personal computer maker reported fourth-quarter earnings that exceeded expectations, supported by what it described as an accelerating shift among corporate customers toward AI infrastructure.
CoreWeave (NASDAQ:CRWV) dropped 11% after the cloud computing company posted a wider fourth-quarter loss and significantly missed estimates for adjusted operating margins, even though revenue recorded a modest increase.
Zscaler (NASDAQ:ZS) declined 9.6%. The cybersecurity firm delivered a beat in its fiscal 2026 second quarter and issued guidance that was above expectations, but the shares came under pressure as investors had anticipated a more optimistic outlook.
Consumer, Retail and Fintech Names in Focus
Carter’s (NYSE:CRI) fell 9.7% after the children’s apparel company issued fiscal 2026 guidance that underwhelmed investors. The company’s projections do not incorporate potential effects from recent tariff actions.
Target (NYSE:TGT) slipped 0.5% following a report from Axios stating that the retailer will require all cereal products it sells to be produced without certified synthetic colors by the end of May.
Rocket Companies (NYSE:RKT) advanced 7.3% after the fintech firm reported fourth-quarter revenue and earnings that exceeded expectations and paired the results with strong forward guidance.
Intuit (NASDAQ:INTU) traded 2.9% lower after the financial software provider projected third-quarter profit below market estimates, even as it recorded higher profit for the second quarter.
Gaming and Betting Sector Reaction
Flutter Entertainment (LON:FLTRF) dropped 13% after the betting group guided to only modest profit growth for 2026, a level that fell considerably short of analyst projections due to issues in its primary U.S. market.
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