Stock futures retreated slightly early Friday as investors awaited the release of the Fed’s preferred inflation metric, the PCE report, which could influence expectations for upcoming interest rate cuts.
Here are some of Friday’s biggest stock movers:
Biggest stock gainers
- Ambarella (NASDAQ:AMBA) +20% – Shares surged after the semiconductor firm reported Q2 revenue growth of 49.9% Y/Y, with results and guidance beating estimates by a wide margin. For Q3, Ambarella expects revenue of $100M–$108M (vs. $91.2M consensus) and adjusted gross margins of 60%–61.5%. Full-year revenue is now projected to grow 31%–35% to $373.2M–$384.6M, well above the $349.8M estimate.
- Elastic (NYSE:ESTC) +18% – Shares jumped after the technology company reported FQ1 results and full-year guidance that topped estimates by a wide margin.CEO Ash Kulkarni highlighted ongoing demand for its differentiated technology and the role of AI in driving adoption of Elastic’s Search AI Platform. For Q2, Elastic guided adjusted EPS of $0.56–$0.58 (vs. $0.59 est.) and revenue of $415M–$417M (vs. $410.2M est.). For FY2026, it projects revenue of $1.679B–$1.689B (vs. $1.66B est.) and adjusted EPS of $2.29–$2.35 (vs. $2.28 est.).
- Affirm Holdings (NASDAQ:AFRM) +15% – Shares soared after the company’s gross merchandise volume logged strong gains in FQ4, helping to deliver an earnings and revenue beat. With that momentum, it issued solid guidance for FY2026 and FQ1. The buy now, pay later lending platform expects FY2026 gross merchandise volume of more than $46B (Visible Alpha consensus $45.7B). Its outlook for full-year revenue is ~8.4% of GMV, or ~$3.86B ($3.89B consensus). Adjusted operating margin is seen at more than 26.1% vs. 24.1% in FY 2025. Affirm (NASDAQ:AFRM) expects Q1 revenue of $855M-$885M vs. $858.4M consensus and GMV of $10.1B-$10.4B vs. Visible Alpha estimate of $9.83B. Adjusted operating margin is expected to be 23%-25% vs. 27.0% in Q4 2025.
- Autodesk (NASDAQ:ADSK) +10% – Shares climbed after the company reported strong Q2 results and issued guidance well above expectations. Revenue rose 17% Y/Y, while remaining performance obligations jumped 24%. For Q3, Autodesk projects adjusted EPS of $2.48–$2.51, above the $2.40 consensus, and revenue of $1.80B–$1.81B vs. $1.77B expected.
Biggest stock losers
- Marvell Technology (NASDAQ:MRVL) -12% – Shares tumbled after Q2 results merely matched estimates, despite revenue surging 58% Y/Y, fueled by a 69% jump in data center sales to $1.49B. However, its Q3 outlook disappointed, with projected net revenue of $2.06B falling short of the $2.11B consensus, while adjusted EPS guidance of $0.74 was only slightly above expectations of $0.73.
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Dell Technologies (NYSE:DELL) -5% – Shares slipped despite the IT giant delivering Q2 results and guidance that mostly topped expectations. For Q3, Dell projects adjusted EPS of $2.45 (midpoint) on revenue of $26.5B–$27.5B, compared with a consensus of $2.55 EPS on $26.4B in sales. Full-year adjusted EPS is forecast at $9.55 (midpoint), ahead of the $9.40 estimate, with revenue of $105B–$109B vs. $105.03B expected. COO Jeff Clarke highlighted “exceptional” AI demand, with the company now targeting $20B in AI server revenue for fiscal 2026, up from prior guidance.