PREMARKET MOVES | Unity Software Surges 22%, Qualcomm Plunges 9%, AppLovin Rallies 19%, Zillow Sinks 15%

According to CNBC, several companies made notable premarket moves. Shake Shack shares rose 3.8% after third-quarter adjusted earnings of 40 cents per share topped the LSEG estimate of 35 cents, though revenue of $423 million fell slightly below the $426 million consensus. Management reaffirmed full-year 2026 revenue guidance of $1.6 billion to $1.7 billion. Peloton Interactive jumped 7% after fiscal first-quarter revenue of $559 million beat the LSEG consensus of $554 million, though earnings of 19 cents per share missed the 21 cents expected. Wendy's shares were little changed after the fast food chain rejected a $1.4 billion takeover offer from a Trian Fund Management-led group, which late last month offered $7.35 per share in cash to take the company private. Unity Software surged 22% after posting third-quarter earnings of 25 cents per share on revenue of $622 million, well above LSEG expectations of 5 cents per share on $567 million in revenue. Qualcomm plunged 9% even after a slight earnings beat in its fiscal fourth-quarter report, with current-quarter adjusted earnings guidance of $2.15 to $2.35 per share versus the FactSet consensus of $2.26. AppLovin rallied 19% after third-quarter adjusted EBITDA of $1.84 billion exceeded the FactSet consensus of $1.73 billion, with revenue of $2.18 billion beating the forecast of $2.07 billion. Expedia slid more than 6% after issuing weaker-than-expected fourth-quarter revenue guidance of $3.69 billion to $3.75 billion, versus the FactSet average of $3.74 billion. Coherent dipped 2% despite posting adjusted earnings of $2.09 per share above the $1.99 FactSet consensus, with revenue and guidance also above estimates. Zillow sank about 15% after third-quarter adjusted earnings of 55 cents per share missed the 59 cents LSEG expectation, and revenue of $724 million fell short of the $754 million forecast.