Major U.S. equities moved in early trading Thursday, led by a mix of company-specific catalysts and broader risk appetite tied to cryptocurrencies. Alphabet shares fell after a European court upheld a multibillion-euro antitrust fine, while defense contractor AeroVironment gained on a U.S. Army contract award. On the consumer and fintech side, Robinhood rose as analysts raised their target amid a rebound in bitcoin.
Key takeaways
- Alphabet dropped in premarket trading after a European antitrust case upheld a penalty tied to Android practices.
- Bending Spoons slid following its public-market debut, despite a sharp first-day pop after the IPO.
- AeroVironment rose after winning a contract valued at $500 million to develop counter-drone capabilities for the U.S. Army.
- Crypto-linked stocks climbed, with Strategy and Coinbase gaining as bitcoin crossed $61,000.
- Memory stocks eased again after earlier profit-taking as investors rotated at the start of the second quarter.
What drove the biggest stock moves in premarket trading
Alphabet lower after European antitrust ruling
Alphabet shares were down about 1% in premarket trading following news that a European court upheld the company’s fine of 4.1 billion euros (about $4.67 billion). The penalty traces back to a 2018 decision by the European Commission alleging that Google engaged in anticompetitive practices by giving its own applications unfair advantages in Android.
Bending Spoons retreats after IPO spike
Bending Spoons fell roughly 7% after its public market debut earlier in the week. The stock had surged nearly 40% from its IPO level on Wednesday, indicating that investors initially priced in optimism around the listing before some shares were sold in early trading.
AeroVironment advances on contract award
AeroVironment rose about 4% after the company won a $500 million contract with the U.S. Army. The award focuses on developing counter-drone capabilities, a segment that continues to attract defense spending as military customers seek solutions for unmanned aerial threats.
Palantir climbs on analyst upgrade
Palantir gained more than 3% after D.A. Davidson upgraded the stock to buy from neutral. The firm also said the valuation is among the most attractive it has seen in some time, a point that can resonate with investors if they view forward growth as improving relative to the price.
Crypto-linked stocks lift as bitcoin rises
Several high-profile crypto-adjacent names traded higher as bitcoin pushed above $61,000, extending momentum into a two-day rally totaling 4.5%, according to market activity cited in the premarket coverage.
Strategy jumps
Strategy rose about 6%, tracking the increase in bitcoin. For investors, these moves typically reflect sensitivity to changes in the cryptocurrency’s market value, given the company’s strategy that is closely tied to bitcoin exposure.
Coinbase gains
Coinbase was up more than 3%. Rising bitcoin prices can support volumes and trading activity expectations for digital-asset exchanges, though the impact can vary depending on market participation and regulatory dynamics.
Robinhood benefits from both crypto and analyst focus
Robinhood added more than 5% in premarket trading, with the move attributed not only to bitcoin’s rally but also to a Mizuho price-target increase to $130. The analysts argued that Robinhood has the potential to become the “hyperscaler” of online brokerages by expanding across borders rather than concentrating within a single country.
Memory stocks slide again after early-quarter profit-taking
Shares of several memory-related companies were lower again on Thursday after they fell sharply on Wednesday as investors took some profits at the start of the second quarter, according to the premarket summary. Data cited included:
- SanDisk, which fell more than 10% on Wednesday, was off about 3.5% in premarket trading.
- Western Digital shares were down about 2.5% after a 6% drop on Wednesday.
- Seagate Technology was down about 2.5% after a 5% drop on Wednesday.
For investors, the repeated selling suggests that the recent decline in the group is still being treated as an opportunity for rebalancing rather than a finished reset.
What to watch next
Investors are likely to focus on whether early gains in crypto-linked equities hold as bitcoin continues to trade above $61,000, while Alphabet remains under scrutiny tied to the European antitrust fallout. In the near term, attention will also turn to company-specific updates from the firms moving in premarket—and broader market signals for guidance on second-quarter momentum.
