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Below are AI-generated insights on today's premarket moves, powered by MarketReader technology.

Friday, October 30

Noteworthy macro moves today: Nasdaq 100 Index (US) -1.4%. Gold -1.5%. Nikkei 225 Index (Japan) -2.6%. Noteworthy US mega-cap moves today: Intel Corp (INTC) -25.1%. Advanced Micro Devices, Inc. (AMD) -9.6%. SK Hynix Inc (SKHY) -7.8%.

Global equity markets are trading lower, with notable declines in the U.S., where the Nasdaq 100 Index has dropped significantly amid concerns over rising costs associated with artificial intelligence investments following disappointing earnings from major tech firms like Amazon and Intel. The tech-heavy index fell by 1.4%, reflecting a broader sell-off in technology stocks as investors reassess the sustainability of AI-related spending.

In Europe, equity indices are mixed; while the FTSE 100 is higher, other major indices such as the DAX and Euro Stoxx 50 are lower, influenced by weak economic data from France and Italy released today that showed unexpected contractions in GDP growth rates for Q3 at -0.1% for France and stagnation at 0% for Italy.

The latest inflation figures also contributed to market sentiment, with France's annual inflation rate rising to 3.4%, exceeding expectations of 3.2%. This uptick in inflation may prompt concerns about persistent price pressures across Europe, particularly as energy prices remain elevated due to geopolitical tensions.

In Japan, the Nikkei 225 Index fell sharply by approximately 2.6%, driven down by ongoing weakness in technology stocks and a cautious outlook following the Bank of Japan's decision to maintain interest rates at 1.25%. This decision aligns with market expectations but reflects broader uncertainties regarding economic growth amid fluctuating consumer demand.

iShares MSCI South Korea ETF (EWY) [-5.1%]
The iShares MSCI South Korea ETF is experiencing a notable decline during pre-market hours, following a sharp drop in the KOSPI Index, which fell significantly due to losses in the electronic, industrial, and energy sectors. This broader market movement is linked to disappointing earnings reports from major tech companies like Amazon and Intel. Within the fund's holdings, SK Hynix and SK Telecom faced substantial declines, reflecting the overall weakness in South Korean equities. Social media posts discuss the situation, with one user describing the market as an "imploding bubble."

VanEck Semiconductor ETF (SMH) [-5.0%]
The VanEck Semiconductor ETF is declining sharply amid negative sentiment in the semiconductor sector, primarily driven by Intel's disappointing fourth-quarter guidance and subsequent downgrades from analysts. This outlook has raised concerns about Intel's recovery prospects, impacting other semiconductor stocks such as AMD and Micron. The broader technology sector is also facing pressure following weak earnings reports from major companies like Amazon and Alphabet. Social media posts noted the recent decline in SMH, attributing it to Intel's performance and its effects on related stocks. The Nasdaq 100 Index is slightly lower, reflecting the overall market's concerns regarding increased spending in artificial intelligence and disappointing tech earnings.

iShares Silver Trust (SLV) [-4.2%]
Silver prices are declining, continuing a downward trend that began Thursday amid market volatility. This decline follows concerns over a significant cyberattack on Binance, which has affected cryptocurrency prices, and is accompanied by a strengthening Japanese yen against the U.S. dollar. Platinum prices are also lower, reacting to speculation about potential interest rate hikes from the Bank of England and rising oil prices due to geopolitical tensions. iShares Silver Trust is lower during pre-market hours, reflecting the broader trends in silver and platinum markets.

AZN | +6.1% | +17.4B
AstraZeneca PLC | Health Care
AstraZeneca reported strong third-quarter results, with total revenue of $16.21 billion, surpassing analyst expectations of $16.03 billion and reflecting a 7% year-over-year increase at constant exchange rates. Core earnings per share were $2.79, exceeding estimates of $2.59, and marking a rise from the previous year. The company reaffirmed its fiscal year 2026 guidance, projecting mid-to-high single-digit revenue growth and low double-digit core EPS growth. CEO Pascal Soriot highlighted the significance of 12 positive Phase III readouts and 47 approvals this year, indicating a robust pipeline. In pre-market trading, shares advanced sharply. Users on X discussed AstraZeneca's restructuring plan aimed at generating $1.5 billion in annual savings, which will involve up to $2 billion in one-time costs over three years, with plans to reinvest these savings into its drug pipeline.

GILD | +5.1% | +10.9B
Gilead Sciences, Inc. | Health Care
Gilead Sciences' stock advanced in pre-market trading following several analyst upgrades. Needham raised its price target to $200 from $170 while maintaining a Buy rating, and Cantor Fitzgerald increased its target to $175 from $155 with an Overweight rating. Truist Securities also lifted its price target to $181 from $158, keeping a Buy rating. These revisions follow Gilead's strong third-quarter results, where it reported an adjusted EPS of $2.55, exceeding expectations of $2.19, and raised its full-year sales guidance to between $31 billion and $31.3 billion. Social media posts highlighted the company's performance and noted that product sales excluding Veklury reached $8.2 billion, reflecting a 16% year-over-year increase. The stock is trading higher since Thursday's close.

REGN | +7.2% | +6.5B
Regeneron Pharmaceuticals, Inc. | Health Care
Regeneron Pharmaceuticals reported a substantial increase in third-quarter results, with net income rising to $1.949 billion, or $18.45 per share, compared to $1.460 billion, or $13.62 per share, a year earlier. Adjusted earnings per share reached $20.07, exceeding analyst expectations of $16.06. Revenue for the quarter was $5.116 billion, up 36.3% from $3.754 billion last year, driven largely by increased sales of Dupixent and EYLEA HD. The company expanded its collaboration with Sanofi, securing a $1 billion upfront payment and potential future milestones of up to $7 billion. In pre-market trading, shares are sharply higher. Users on social media highlighted the strong financial performance, particularly the record sales for Dupixent and EYLEA HD, and the guidance for FY26 non-GAAP R&D expenses between $6.05 billion and $6.15 billion.

MDLZ | +6.9% | +5.9B
Mondelez International, Inc. | Consumer Staples
Mondelez International, Inc. shares advanced in pre-market trading following the release of strong third-quarter results. The company reported a diluted EPS of $1.02, reflecting a year-over-year increase of 78.9%, while adjusted EPS rose to $0.78, surpassing analysts' expectations of $0.71. Revenue for the quarter totaled $9.97 billion, slightly below the forecast of $9.99 billion. Mondelez reaffirmed its guidance for 2026, projecting organic net revenue growth of at least 2% and adjusted EPS growth of flat to 5%. Additionally, Wells Fargo raised its price target for Mondelez to $68 from $65, maintaining an Overweight rating. Earlier in the session, shares pulled back from a session high.

RIVN | +6.2% | +1.1B
Rivian Automotive, Inc. | Consumer Discretionary
Rivian Automotive, Inc. reported better-than-expected third-quarter earnings, with revenue of $2.155 billion, a 38% year-over-year increase that surpassed the consensus estimate of $1.984 billion. The company posted an adjusted loss of $0.48 per share, improving on the anticipated loss of $0.72. Rivian also raised its full-year delivery guidance to between 67k and 70k units from a previous range of 65k to 70k units. Analysts have issued mixed reactions, with Mizuho lowering its price target to $10 and Cantor Fitzgerald adjusting it to $16, while Needham maintained a Buy rating with a new target of $18. In pre-market trading, shares are sharply higher following the earnings announcement. Social media posts highlighted the record delivery of 19.25k vehicles, a 46% increase year-over-year, and noted that Rivian's R2 model has become its best-selling vehicle.

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