US STOCKS PREMARKET: October 28, 2025

Futures Indices

Dow Futures: 0.01%
S&P 500 Futures: 0.02%
Nasdaq 100 Futures: 0.01%

Market Environment

Wall Street closed at record highs on Monday, boosted by optimism about upcoming tech earnings and a possible easing of trade tensions between the US and China. This week is shaping up to be pivotal, with four major central bank meetings and reports from Microsoft, Meta, and Alphabet due as early as Wednesday.

Jim Reid (Deutsche Bank) notes: "Optimism over a possible US-China trade truce and a positive tech outlook have driven global stock records."

On the geopolitical front, a summit between Donald Trump and Xi Jinping is scheduled for October 30 at the APEC summit in South Korea, which could bring some calm to the commercial front.

On the economic side, the Case-Shiller Home Price Index will be published before markets open. It is expected to rise by 1.6% year-on-year in August, compared to 1.8% in July.

Also noteworthy: Amazon is reportedly considering cutting 30,000 jobs in its corporate teams, about 10% of its professional workforce. Paul Donovan (UBS) warns: "With no official employment data, such announcements take on increased significance."

Stocks to Watch

GPUS +37.02%
Hyperscale Data's Bitcoin holdings surged 30% to $68.8M, strongly boosting the stock.

PYPL (PayPal) +13.45%
Strong results and a strategic partnership with OpenAI lift the stock.

W (Wayfair) +11.05%
Earnings per share well above expectations (+$0.70 vs. +$0.44 estimate), revenue also higher.

WGS (GeneDx) +10.17%
Solid results with $116.7M in revenue (+$12M above expectations).

UPS +8.90%
The logistics giant beats consensus with EPS of $1.74 (+$0.44), revenues also above expectations.

SOFI +3.60%
Record results across all KPIs (member growth, revenues, EBITDA). Upgraded 2025 outlook.

CARR (Carrier Global) +4.22%
Revenue of $5.58B beat expectations, with EPS of $0.67 vs. $0.57 expected.

UNH (UnitedHealth) +2.82%
EPS of $2.92, above consensus, annual outlook raised.

NEO (NeoGenomics) +5.31%
Results slightly above consensus, with moderate revenue growth.

ALKS (Alkermes) +5.25%
Strong financial performance with EPS of $0.49, beating consensus by $0.19.

Rating Changes

Upgrades

CFLT (Confluent) → Stifel upgrades to Hold (from Neutral), target raised from $21 to $25

CRWD (Crowdstrike) → Arete Research upgrades to Buy (from Neutral), target: $706 (vs. $456)

FOXA (Fox Corp.) → Arete Research upgrades to Buy, target: $97 (vs. $66)

AMKR (Amkor Tech) → D.A. Davidson maintains Buy, target raised to $40 (vs. $30)

AAPL (Apple) → Baird maintains Outperform, target raised to $280 (vs. $230)

LSCC (Lattice Semi) → Deutsche Bank maintains Buy, target raised to $80 (vs. $60)

NFLX (Netflix) → Arete maintains Neutral, target raised to $1,084 (vs. $833)

NXT (Nextracker) → Wells Fargo maintains Overweight, target raised to $109 (vs. $72)

RMBS (Rambus) → Wells Fargo maintains Overweight, target raised to $115 (vs. $73)

Neutral

F5 (FFIV) → Piper Sandler maintains Neutral, target lowered to $277 (vs. $355)

BMRN (Biomarin Pharma) → Wells Fargo maintains Overweight, target lowered to $70 (vs. $90)

Downgrades

ORCL (Oracle) → CITIC Securities downgrades to Sell (from Hold), target cut to $243 (vs. $298)

SIGI (Selective Insurance) → BMO downgrades to Market Perform (from Outperform), target to $81 (vs. $88)

Have a great session everyone
Sylvain Mouilhaud: Stock Coach