The markets are starting the day on a steady note, with the S&P 500 (ES) and Nasdaq 100 (NQ) trading flat, while the Russell 2000 (RTY) is up 0.3%. Several major stocks are making notable moves in pre-market trading based on earnings, guidance, and corporate developments.

Biggest Stock Movers

Flat Performers

• Apple (AAPL): Shares are unchanged as reports emerge that Apple suppliers are considering shifting iPhone production to Indonesia. This move comes as Apple negotiates to lift a government sales ban on the iPhone 16 series.

Stocks Declining

• Lyft (LYFT) -12%: The company missed profit and gross bookings expectations, and its full-year gross bookings guidance came in lighter than anticipated, leading to a sharp sell-off.
• Kraft Heinz (KHC) -4%: Revenue fell short of estimates, and its full-year profit outlook disappointed investors, exacerbated by underwhelming communication from management.

Stocks Gaining

• Super Micro Computer (SMCI) +10%: Despite weak preliminary earnings and guidance, the company expects to meet its regulatory deadline. JPMorgan raised its price target, citing increased confidence from management.
• DoorDash (DASH) +6%: Revenue and order estimates exceeded expectations as strong holiday demand boosted sales. The company also announced a $5 billion share buyback program.
• Alibaba (BABA) +4%: Shares rose on reports that Apple is working with Alibaba to develop AI features for the iPhone in China.
• Upstart (UPST) +27%: A surprise profit per share and revenue beat, along with a strong full-year outlook, sent shares soaring.
• Gilead Sciences (GILD) +5%: The company reported better-than-expected earnings and revenue, driven by a 16% rise in HIV drug sales and lower costs. Its full-year earnings guidance also came in above expectations.
• CVS Health (CVS) +9%: Strong earnings, revenue, and same-store sales growth pushed the stock higher.
• Baidu (BIDU) +2%: The company announced plans to release Ernie 5.0, its next-generation AI model, in late 2025.

Market Outlook

With a mix of earnings beats, misses, and corporate updates, investors are navigating a choppy pre-market session. Tech and AI-related stocks continue to drive momentum, while underwhelming guidance and revenue shortfalls are weighing on some names. As the trading day unfolds, attention will remain on company earnings reports, guidance revisions, and broader market trends.