Stock futures edged higher in the premarket hours of Wednesday, as market participants eagerly awaited tech giant Alphabet’s (GOOG) results due after closing. This reflects cautious optimism amid ongoing AI and tech sector focus.
Here are some of Wednesday’s biggest movers:
Biggest stock gainers
- Enphase Energy (ENPH) +21% – Shares jumped after the company beat Q4 expectations despite a 10% Y/Y revenue decline. Q1 guidance came in stronger than expected, with revenue expected to fall between $270M and $300M vs. $263.2M consensus, including 100–120 MWh of IQ Battery shipments and about $35M of safe harbor shipments. GAAP gross margin is guided at 40%–43% and non-GAAP at 42%–45%, both factoring in a roughly five-point tariff impact, while non-GAAP operating expenses are expected at $77M–$81M, excluding stock-based comp and other one-time items.
- Digital Turbine (APPS) +20% – Shares soared after the company posted a strong FQ3, with revenue up 12% Y/Y. Non-GAAP adjusted EBITDA surged 76% Y/Y to $38.8M, highlighting improved operating leverage. The outlook also impressed, with FY2026 revenue guided at $553M–$558M, above the consensus of $548.2M, and non-GAAP adjusted EBITDA expected at $114M–$117M.
- Super Micro Computer (SMCI) +7% – Shares gained after the AI server maker delivered FQ2 results and guidance that beat expectations. For FQ3, the company sees adjusted EPS of at least $0.60 vs. $0.52 consensus, with revenue of at least $12.3B, well above the $10.25B estimate. Super Micro also raised its full-year outlook, now projecting revenue of at least $40B, up from a prior forecast of $36B.
- Take-Two Interactive (TTWO) +5% – Shares rose after the company reported mixed FQ3 results but delivered a strong bookings beat and raised guidance. FQ4 net bookings are seen at $1.51B–$1.56B, in line with estimates. Management reaffirmed the launch of GTA VI on November 19. For FY2026, net bookings guidance was raised to $6.65B–$6.70B from the prior $6.40B to $6.50B, above the consensus of $6.47B, while adjusted EBITDA was lifted to $1.07B–$1.10B, up from $927M to $985M, and adjusted EPS to $3.75–$3.85 from $3.05 to $3.30 vs. the consensus of $3.36.
Biggest stock losers
- Advanced Micro Devices (AMD) -8% – Shares plunged even as the company reported Q4 results and an outlook that were well above consensus. For Q1, AMD expects sales to be between $9.5B and $10.1B, with the midpoint of $9.8B above the $9.39B consensus. The revenue includes roughly $100M of Instinct MI308 sales to China, and the adjusted gross margin is expected to be 55%.
- Chipotle Mexican Grill (CMG) -6% – Shares fell despite a Q4 earnings beat as the company returned to negative comparable sales of -2.5%, driven by a 3.2% decline in transactions. Restaurant-level margin came in at 27.4% of sales, down 150 bps Y/Y but still well ahead of the ~23% consensus. Looking ahead, Chipotle guided flat comparable restaurant sales growth for the full year, which weighed on investor sentiment.