Check out the companies making the biggest moves in pre-market trading: Trump Media & Technology Group — Shares of President Donald Trump’s social media and technology companies fell 11% after Democrats won decisive victories in the U.S. midterm elections Tuesday night. Trump owns 41% of the company, which also owns the social media platform TruthSocial. The Democratic Party, which has taken control of Congress, is tightening its checks on the president’s policies. Tesla, SpaceX — Shares of Elon Musk’s Tesla and SpaceX fell nearly 6% and more than 7%, respectively. The move came after Democrats won majorities in the House and Senate. Many of the newly elected candidates hold key positions in the rapid construction of data centers powered by artificial intelligence. SpaceX operates AI supercomputing infrastructure in Tennessee and Mississippi, and Tesla operates infrastructure in Texas. Neocloud stocks — Stocks of so-called neocloud companies fell, with CoreWeave down 7%, Iren down 6% and Nebius down about 5%. A Democratic victory in Texas and a national vote rejecting the data center initiative is expected to create hurdles for the data center effort. Novo Nordisk — Shares rose more than 6% after the global healthcare company reported profit of 5.79 Danish kroner (about 63 cents per share), compared to Wall Street expectations of 5.10 kronor (about 55 cents). The company has revised upward its forecast for fiscal 2026, citing expectations for sales of GLP-1 products. CVS Health — Shares fell more than 2% after the company announced it would split into two separate publicly traded companies by the first half of 2028. The move would reverse CVS’ $78 billion acquisition of Aetna and separate the company’s retail pharmacy business. McDonald’s — The fast-food restaurant chain reported mixed quarterly results and shares rose 2%. Adjusted earnings were $3.57 per share, beating analysts’ estimates of $3.38 per LSEG. However, sales were $7.16 billion, lower than the consensus estimate of $7.29 billion. Duolingo — The language learning software company reported third-quarter revenue of $309 million, soaring 18%. This exceeded LSEG’s consensus of $303 million. Monthly active users totaled 153 million in the quarter, higher than expectations of 149 million. Adjusted EBITDA margin also exceeded expectations. Alight — The employee benefits consultancy soared 22% after raising its full-year 2026 outlook. Alight expects sales to be in the range of $2.115 billion to $2.125 billion. That compares to the FactSet consensus estimate of $2.09 billion. Adjusted EBITDA guidance of $410 million to $420 million also beat TheStreet’s estimate of $404.4 million. Avis Budget Group — The rental car company fell about 2% on mixed third-quarter results. Avis’ earnings per share were $5.15, a significant decrease from $10.11 per share in the same period last year. Revenue was $3.44 billion, slightly above the FactSet consensus of $3.42 billion. Advanced Micro Devices — This chipmaker changed things up a bit after reporting better-than-expected third-quarter profits. Adjusted earnings of $2.09 per share beat expectations of $1.95 per share, according to a survey of analysts compiled by LSEG. Earnings estimates for the current quarter also exceeded expectations. TOAST — The restaurant management software company fell 5% despite delivering better-than-expected results in the third quarter, according to FactSet. Toast also said CFO Elena Gomez will retire at the end of 2026 and be replaced by Michael Senno, senior vice president of finance. Skyworks Solutions — The wireless networking services provider fell about 11% after its current quarter outlook disappointed public expectations. Skyworks expects first-quarter fiscal year adjusted earnings of approximately $1.25 per share and revenue of $1.8 billion to $1.9 billion, below LSEG consensus estimates of $1.50 per share and $1.99 billion. Skyworks completed its merger with Qorvo in early October, making the first quarter the first integrated quarter for both companies. Super Micro Computer — The server company’s stock rose 2% after Super Micro’s earnings per share and revenue beat Wall Street expectations. The company expects fiscal 2027 net sales to be in the range of $72 billion to $82 billion, above the LSEG consensus of $69.17 billion. Arista Networks — The cloud networking company rose 4% after reporting better-than-expected guidance for the current quarter. Arista expects fourth-quarter earnings of $1.26 to $1.30 a share and revenue of $3.9 billion to $4 billion. Analysts surveyed by LSEG had expected earnings of $1.15 per share and $3.6 billion. BLOCK — Fintech shares rose 9% after Block reported better-than-expected third-quarter profit and revenue and raised its full-year guidance through December. Adjusted earnings per share were $1.13, beating the LSEG consensus estimate of $1.03, and revenue was $6.72 billion, beating the $6.59 billion consensus. Freshworks — The software stock fell about 10% even after the customer support ticketing company reported better-than-expected third-quarter results and full-year guidance. Freshworks had adjusted earnings of 22 cents per share on sales of $245.4 million in its most recent quarter, beating analyst estimates compiled by FactSet for earnings of 18 cents on sales of $245.1 million. The company’s stock has outperformed recently, rising more than 20% in the past three months. Renewable Energy Stocks — Stock prices of renewable energy companies rose after Democrats took control of Congress. Sunrun, NextPower and Plug Power each rose about 6%, Canadian Solar rose 7% and First Solar rose nearly 8%. Amdocs — Software stocks fell 37% after the company warned that revenue could decline by up to 18% in fiscal 2027 as a result of a dispute with T-Mobile over an existing contract, the completion of an integration project with a US Cellular customer, and reductions in T-Mobile’s discretionary spending. Datadog — The cloud monitoring company fell 17% after reporting third-quarter financial results. Both sales and final profit were strong, but the earnings outlook was weak. Datadog expects fourth-quarter revenue to be between $1.19 billion and $1.2 billion, compared to the consensus estimate of $1.2 billion. The stock had already risen 62% this year. Kraft Heinz — The food and beverage maker rose 3%. Kraft Heinz announced the sale of its North American coffee business to One Rock Capital Partners. The company also reported third-quarter adjusted earnings of 53 cents per share and revenue of $6.12 billion, beating expectations. Analysts polled by LSEG expected EPS of 42 cents and revenue of $6.09 billion. — CNBC’s Darla Mercado, Deena Zaidi, Paulina Ricos, Sara Min, Davis Giangiulio, Ananya Chettiar and Fred Imbert contributed reporting.
