Major U.S. stocks were mixed in premarket trading as company-specific developments drove sharp moves across sectors, from retail and media to semiconductors and enterprise software. CarMax surged after an earnings and revenue beat, while AST SpaceMobile jumped on a successful satellite launch update. In contrast, Lionsgate slid after a report denial involving a potential deal interest from Netflix.
Key takeaways
- CarMax shares rose after the company reported first-quarter earnings and revenue ahead of expectations.
- AST SpaceMobile jumped following its announcement that it launched additional satellites into orbit to expand its cellular broadband network.
- La-Z-Boy surged as retail sales increased year over year in its fiscal fourth quarter alongside an earnings beat.
- Lionsgate fell after Netflix denied it is interested in acquiring the media company, reversing earlier merger-fueled momentum.
- Semiconductor stocks rebounded broadly after a sell-off, with investors weighing whether to rotate out of a sector that has been outperforming.
What drove the biggest premarket stock moves
CarMax: Shares rose more than 3.5% after the used-car retailer delivered a first-quarter earnings and revenue beat. CarMax reported earnings of $1.31 per share, exceeding analysts’ expectations of 95 cents per share, according to LSEG data cited in premarket coverage. The reaction suggests investors focused on near-term profitability rather than only top-line growth.
AST SpaceMobile: AST SpaceMobile increased about 6% after the company said it successfully launched three new satellites into orbit on Wednesday to continue building its cellular broadband network in space. The launch used SpaceX’s Falcon 9 rocket. The stock reaction indicates investors are treating execution milestones as tangible progress toward network deployment.
La-Z-Boy: La-Z-Boy jumped roughly 16% after reporting that retail sales rose 11% in its fiscal fourth quarter compared with the year prior. The company also posted an earnings beat, while revenue was about in line with FactSet consensus estimates. The size of the move points to investors prioritizing sales momentum over minor differences versus forecast on revenue.
Lionsgate: Lionsgate shares fell more than 5% after Netflix denied reports that it is interested in acquiring Lionsgate. Earlier in the week, the stock had gained nearly 14% on Tuesday on merger speculation. The reversal highlights how deal headlines can quickly flip sentiment when companies push back publicly.
Semiconductors rebound as investors reassess positioning
Chip stocks rebounded in premarket trading following a sell-off on Tuesday that prompted renewed discussion about rotating out of the semiconductor group after its strong performance earlier in 2026. Intel rose more than 3% after it had dropped 8.5% on Tuesday, while Advanced Micro Devices gained more than 2.5%. Broadcom and Qualcomm were also up, each rising more than 1.5%.
Investors appeared to be responding to the pullback rather than turning decisively bullish based on company news. The sector-wide reaction suggests positioning and portfolio flows—rather than fresh fundamentals—were central to the latest move.
Analyst actions and corporate clarifications
Figma: Figma shares rose about 4% after Citi initiated coverage with a buy rating. Citi cited a $25 billion total addressable market and characterized adoption as early in its lifecycle, according to premarket reporting. The note helped support the stock despite broader market noise, reflecting how analyst frameworks can quickly influence expectations for growth-stage software companies.
Oracle: Oracle was down roughly 1% after it disputed details of a Business Insider report stating that Microsoft ended negotiations over a $3 billion deal to lease Oracle’s cloud infrastructure due to security concerns. Oracle said the reported details were inaccurate and maintained that Microsoft is a partner and customer of the company. The move underscores how enterprise cloud negotiations can affect expectations for infrastructure services—especially when reporting raises security-related questions—until companies clarify the facts.
Jabil: Jabil shares fell more than 2% even after the company reported an earnings and revenue beat in its fiscal third-quarter results. The decline followed guidance signals: premarket coverage said current-quarter and full-year guidance came in above expectations. The stock’s weakness despite beating results suggests investors may have focused on details not reflected in the headline comparison, such as the trajectory implied by guidance or how it compares with what the market had already priced in.
What to watch next
Traders will likely keep an eye on follow-through from these premarket catalysts as investors digest earnings follow-ups, guidance implications, and industry narratives around semiconductors. With the broader market still sensitive to sector rotation and deal-related headlines, attention may shift quickly to upcoming company reports and major macro releases—especially any data that influences rate expectations and risk appetite.
