Stock futures ticked up slightly Wednesday morning, building on Tuesday’s recovery fueled by Bitcoin’s bounce while traders positioned for major US economic releases and the Federal Reserve’s policy call.
Biggest stock gainers
- American Eagle Outfitters (AEO) +10% – Shares climbed after the retailer posted an 8.5% jump in Q3 sales and a 29% surge in profits, driven by strong traffic in its Aerie banner and effective marketing and merchandising, handily beating expectations. The momentum led AEO to raise its Q4 adjusted operating income forecast by $30M to $155M–$160M, based on comparable sales growth of 8%–9%, roughly four times expectations, with revenue now seen at $1.728B–$1.744B vs. the $1.64B consensus. For the full year, AEO now expects adjusted operating income of $303M–$308M with low single-digit comparable sales, up from prior guidance, and noted expected net tariff impacts of ~$50M in Q4 and ~$70M in FY2025.
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Marvell Technology (MRVL) +9% – Shares gained after the custom semiconductor firm posted FQ3 results and guidance that topped expectations and confirmed its $3.25B acquisition of Celestial AI, consisting of $1B in cash and 27.2M shares valued at $2.25B. CEO Matt Murphy said the company is set for a strong finish to the fiscal year, with full-year revenue growth expected to exceed 40%, and noted accelerating demand that has lifted next year’s data-center revenue outlook. For Q4, the company projects adjusted EPS of $0.74–$0.84 and revenue of $2.09B–$2.31B, with both midpoints roughly in line with consensus.
Biggest stock losers
- Pure Storage (PSTG) –10% – Shares plunged despite strong Q3 results, including 16% Y/Y revenue growth and a raised FY2026 outlook. The company projected Q4 revenue of $1.02B–$1.04B, in line with expectations, and lifted its full-year revenue forecast to $3.63B–$3.64B while boosting its adjusted operating income outlook to $629M–$639M.
- Okta (OKTA) –4% – Shares slipped even after posting better-than-expected Q3 results and raising full-year guidance as subscription backlog momentum continued. Okta guided Q4 adjusted EPS to $0.84–$0.85 with revenue of $748M–$750M, both slightly above consensus, and increased its FY2026 outlook to adjusted EPS of $3.43–$3.44 on revenue of $2.91B vs. the prior view of $3.43 to $3.44 on $2.88B revenue.