Stock futures faced pressure on Wednesday after escalating U.S.-Iran strikes pushed oil above $100 a barrel for the first time since July, with Brent crude holding near that level on Strait of Hormuz supply disruption fears. The jump in oil stoked inflation concerns and dragged broader indices lower, though several individual equities still moved sharply on company-specific news.
Qualcomm added 1.4% in premarket trading, extending a 3.2% gain from the prior session after announcing a deal with Amazon. Corning and Sandisk also rose, while AMD and Intel slipped. ServiceTitan dropped 19% despite second-quarter adjusted EPS of $0.40 versus the $0.35 consensus and revenue of $292.8 million, up 20.9% year over year and above the $285.9 million estimate. The sell-off followed third-quarter revenue guidance of $285 million to $287 million, slightly below the $287.9 million analyst expectation; full-year guidance was $1.139 billion to $1.144 billion. The company also named Rikus Pretorius chief revenue officer, replacing Ross Biestman. Casey’s General Stores fell 8% despite an earnings beat, while Braze dropped 12% as investors sought stronger AI-driven revenue proof.
Chime Financial jumped 11% after agreeing to acquire Stride Bank for $590 million in cash, a deal valued at about 1.5 times tangible book value. Chime expects more than $100 million in net synergies, closure in the first half of 2027, immediate EPS accretion, and raised full-year revenue guidance to $2.76 billion to $2.77 billion. Lithium Americas gained 5% after JPMorgan resumed coverage with an Overweight rating and a $6 price target, implying roughly 100% upside, citing lithium carbonate equivalent pricing near $22.30 per kilogram. Mission Produce rose 5% on a 38% year-over-year increase in avocado volumes and adjusted EPS of $0.18, six cents above expectations.
On Thursday, futures edged higher as oil remained above $100. AeroVironment climbed more than 6% after record first-quarter revenue of $480.5 million, up 6% year over year and $24.5 million above estimates. Adjusted EPS was $0.59, more than double the $0.25 forecast, with Autonomous Systems revenue up 21% to $346 million and uncrewed aircraft systems sales up 71%. Gross margin expanded to 26% from 21%. Cooper Companies fell about 16% after missing third-quarter revenue and cutting full-year revenue guidance to $4.229 billion to $4.252 billion, below the $4.31 billion consensus. It held onto CooperSurgical after a strategic review, citing a valuation gap linked to new IUD competition and fertility litigation, trimmed non-GAAP EPS guidance, and raised buyback authorization to $3 billion. American Eagle Outfitters fell 11% despite second-quarter sales up 9.4% and profit up 34% to $0.79 per share, as that profit included nearly $200 million in tariff refunds; American Eagle same-store sales fell 1%, while Aerie and OFFLINE comparable sales rose 19%. Navan slid 15% after acquiring AI meetings platform BoomPop despite raising its full-year outlook, with investors taking profits after a 52% year-to-date run. Adobe and Oracle were due to report after Thursday’s close.
