SpaceX and Super Micro lift the AI trade, while Netflix slides and AT&T raises its outlook
Five things to know before the open on Wednesday, October 21.
Five things to know before the open.
1. Futures rise as SpaceX and Super Micro revive the AI trade
Nasdaq 100 futures were up about 0.5%, S&P 500 futures up about 0.2% to 0.3% and Dow futures little changed around 7 AM ET. Super Micro Computer jumped about 12.7% in premarket trading after forecasting quarterly revenue and margins above Wall Street estimates, and chip stocks including Nvidia, Intel and AMD rose. The moves follow last week's selloff in AI-linked stocks, which left the Philadelphia semiconductor index with eight straight losing sessions before a brief bounce Monday. For the close, see our Dusk Ledger.
2. SpaceX jumps and Musk floats a Tesla merger
SpaceX shares rose about 8% to 9% premarket after third-quarter revenue of $14.6 billion, up 161%, and its first profit as a public company. Elon Musk said special committees at SpaceX and Tesla are evaluating a potential merger; no deal has been announced. Tesla was up about 2% premarket. More in our SpaceX story.
3. AT&T raises its profit outlook, but shares dip
AT&T reported third-quarter adjusted earnings of 65 cents a share on revenue of $32.3 billion, up 5.3%, above analyst estimates of 60 cents and $31.69 billion. It raised its 2026 adjusted EPS outlook to about $2.40 from $2.25-$2.35. The stock was down about 3% in premarket trading.
4. Netflix falls after a softer profit forecast
Netflix dropped about 6% premarket after a fourth-quarter profit forecast that missed estimates and lower 2026 advertising revenue guidance, even though third-quarter earnings beat expectations. See our Dusk Ledger for Tuesday's after-hours reaction.
5. Brent holds near $110 as Meta and Tesla report after the close
Brent crude traded around $110 a barrel, near a five-month high, as tanker attacks and Iran tensions persisted, and WTI was near $98 to $100. Read our oil story. Today's data includes the weekly U.S. petroleum inventory report at 10:30 AM ET. Meta, Tesla and IBM report after the close.
