Stocks in several sectors moved before the opening bell on Friday, with investors reacting to company-specific earnings updates, guidance details, and a separate report on potential future wireless infrastructure plans. Shares of Moderna fell sharply after a leak of partial data on its cancer vaccine, while Deckers dropped after fiscal second-quarter results missed expectations. Telecom stocks also slid following a Bloomberg report that SpaceX is in private talks to lease a large number of cell towers.
Key takeaways
- Moderna shares fell: Down 5.7% in premarket trade after a partial-data leak sent the stock down 25% the prior session, underscoring how early information can drive volatility.
- Deckers declined after earnings: Shares slid 6.7% after fiscal second-quarter revenue missed analyst expectations, with top-brand sales also coming in below forecasts.
- Telecoms weakened on tower-leasing report: AT&T, T-Mobile, and Verizon fell as Bloomberg reported SpaceX is discussing leases for 80,000 cell towers.
- Cell tower stocks gained: Crown Castle and American Tower rose on the same SpaceX leasing talks.
- Investors focused on cash flow and margins: Bloom Energy fell despite guidance increases, while Comfort Systems dropped as margins missed even after a backlog surge.
What drove the premarket moves
Moderna shares weakened as investors digested earlier headlines about its cancer vaccine developed with Merck. According to the report, the stock fell 25% on Thursday after a leak of partial data, before trading further lower by 5.7% in Friday’s premarket session. The full dataset released later Thursday appeared meaningful for patients and positive relative to Wall Street expectations, but the initial leak still weighed on sentiment.
Deckers also turned lower after results that did not meet expectations. The company reported fiscal second-quarter earnings late Thursday, and shares fell 6.7% in premarket trade. According to the earnings release cited in the report, revenue for the quarter ended Sept. 30 was $1.43 billion versus $1.51 billion expected by Wall Street. The article also noted that revenue from key brands including HOKA and UGG missed FactSet expectations.
In telecom-related trading, multiple large wireless carriers declined following a Bloomberg News report on SpaceX. According to Bloomberg, SpaceX is in private discussions to lease 80,000 cell towers, as it seeks to build a fourth nationwide wireless carrier by combining its Starlink direct-to-device network with ground infrastructure. Shares of AT&T dropped 4.2%, T-Mobile fell 4.3%, and Verizon declined 3.6% on the report. Cell tower owners reacted in the opposite direction: Crown Castle shares rose 7.6% and American Tower gained 5.5%, with the report indicating Crown Castle is among the companies involved in the discussions.
How investors interpreted company results
Bloom Energy slid 2.5% in premarket trade even after the company reported third-quarter results. The article said Bloom Energy beat on both the top and bottom line and raised its full-year 2026 earnings per share guidance. However, investors focused on what the report described as negative free cash flow for the quarter, which appeared to outweigh the earnings beat and the guidance update.
Comfort Systems fell 3.6% despite delivering a top- and bottom-line beat for its third quarter. The article attributed the decline to margins that came in below expectations for the heating, ventilation, and air conditioning contractor. In a potential offset, the company’s third-quarter backlog increased 90% year over year, suggesting stronger demand going forward even as profitability in the quarter disappointed.
Western Digital was down 3.4% in premarket trade after reporting strong earnings late Thursday. According to the report, the company beat on top-line results and increased its dividend. Management also said fiscal 2027 is off to a good start, but the article highlighted broader concerns among investors about demand levels and spending tied to AI-driven infrastructure.
Wall Street actions and related stock moves
While several stocks declined, some benefited from analyst changes. The report said PhillipCapital double upgraded shares of Space company and AI developer, raising its rating to buy from sell and lifting its price target to $250 from $75. The analyst rationale included “surprising gains” for the firm’s AI business. The new price target cited in the article implied a significant upside from the then-current level.
Bigger picture for markets to watch
The premarket moves reflect a mix of event-driven volatility and how investors weigh different components of performance. Moderna’s drop illustrates how sensitive biotech investors can be to the timing and completeness of disclosures, even when later full data is viewed as positive. Deckers shows that revenue and brand-specific expectations remain key pressure points after earnings. Meanwhile, telecom and infrastructure trading underlines how deal speculation and network expansion plans can rapidly reprice the value of tower assets versus operating carriers.
Looking ahead, investors will likely focus on whether companies can translate operational beats into stronger cash flow and margins. For the near term, upcoming earnings updates and guidance from other large-cap names in retail, healthcare, and industrials could shift sentiment further. Market participants will also watch for additional clarity on infrastructure plans linked to SpaceX’s reported tower-leasing discussions and for more data around end-demand trends that affect memory and AI-related capex expectations.
