Accelerant, Harmonic surge, Cisco slides premarket on margin outlook

Investing.com - U.S. stock index futures pointed higher on Thursday, as investors digested fresh corporate earnings and deal news while continuing to assess the outlook for inflation and interest rates.

By 06:19 ET (10:19 GMT), the Dow futures contract had risen by 112 points, or 0.2%, S&P 500 futures had gained 14 points, or 0.2%, and Nasdaq 100 futures had added 25 points, or 0.1%.

Here are some of the biggest premarket U.S. stock movers today:

Accelerant Holdings stock surged 44.5% in pre-open trading after the insurance technology company agreed to be acquired by private equity firm Thoma Bravo in an all-cash deal valuing the company at more than $4 billion.

Under the agreement, holders of both Class A and Class B shares will receive $20.25 in cash per share, representing a premium of approximately 49% to Accelerant’s previous closing price.

The move brings the stock close to the proposed takeover price, with investors effectively pricing in the likelihood that the transaction will proceed.

Harmonic stock surged 25% premarket after the broadband and video technology company reported second-quarter results that significantly exceeded expectations.

Adjusted earnings per share came in at $0.24, double the Wall Street consensus of $0.12. Broadband revenue reached $133.5 million, topping the company’s own guidance range of $115 million to $125 million and rising 54% from a year earlier.

The results suggest that demand for Harmonic’s broadband infrastructure remains strong, giving investors a reason to reassess the company’s growth outlook.

Omeros shares jumped 17.1% after the biopharmaceutical company delivered a major second-quarter earnings and revenue beat.

Adjusted EPS came in at $0.02, compared with expectations for a $0.25 loss, while revenue of $28.5 million more than doubled the $12.67 million Wall Street had expected.

The key driver was YARTEMLEA, the company’s FDA-approved treatment for a complication associated with hematopoietic stem cell transplantation. Gross product sales surged to $32.2 million in the quarter, up 190% sequentially from $11.1 million in the first quarter.

Cisco stock fell 5.8% in pre-open trading despite the networking giant delivering record fiscal fourth-quarter results that topped expectations.

Revenue climbed 18% year-over-year to $17.3 billion, while non-GAAP earnings per share rose 23% to $1.22. Both figures exceeded the company’s guidance and Wall Street estimates.

Cisco’s fiscal 2027 outlook was also stronger than expected, with revenue forecast at $72.2 billion to $73.4 billion and EPS at $5.05 to $5.11.

However, investors focused on the company’s gross margin outlook, overshadowing the otherwise strong results and sending the shares lower.

IBM stock rose 1% before the bell after the company announced a strategic partnership with OpenAI that will integrate OpenAI’s latest AI models and products into IBM Consulting Advantage.

The partnership will bring OpenAI models, including GPT-5.6, along with Codex and ChatGPT Work, into IBM’s enterprise AI platform.

For investors, the deal reinforces IBM’s strategy of using generative AI to expand its enterprise consulting business and deepen its presence across sectors including financial services, government, telecommunications and retail.

Netflix stock gained 1.8% premarket after Bill Ackman’s Pershing Square Capital Management disclosed a new 3.15 million-share position in the streaming company.

Ackman’s firm said Netflix had effectively "won the streaming wars" and expects the company to sustain double-digit revenue growth while keeping content costs growing more slowly than sales.

The investment provides a fresh vote of confidence from one of Wall Street’s most closely watched hedge fund managers.

Salesforce shares rose 2% after JPMorgan initiated coverage of the enterprise software company with an Overweight rating and a $250 price target.

The call was accompanied by a series of other positive analyst actions. UBS raised its price target to $210 from $185, while Wells Fargo increased its target to $205 from $200. Stifel also maintained its Buy rating and $250 price target.

The analyst moves add to a broader improvement in sentiment around Salesforce following weakness earlier this year.

Birkenstock shares jumped 7.5% in pre-open trading after the footwear maker reported fiscal third-quarter revenue ahead of expectations and raised its full-year outlook.

Revenue increased 15% in constant-currency terms to €719.5 million, beating the €713.2 million analyst consensus.

The stronger-than-expected quarter and improved outlook suggest demand for the German sandal maker’s premium footwear remains resilient despite a more challenging consumer environment.

Super Micro Computer shares rose more than 9% before the bell after the AI server maker issued full-year financial guidance that came in well above Wall Street expectations.

The upbeat outlook helped investors look past a preliminary update released in July that had pointed to softer fourth-quarter revenue.

The reaction highlights how closely investors continue to watch AI infrastructure companies for evidence that heavy spending on data centers is translating into sustained demand.

Cullinan Oncology stock rose 6.4% after the company and its development partners said a Phase 3 study of zipalertinib combined with platinum-based chemotherapy met its primary endpoint.

The trial showed a statistically significant and clinically meaningful improvement in progression-free survival among previously untreated patients with a specific form of non-small cell lung cancer.

The result could pave the way for the companies to seek U.S. regulatory approval for the combination as a first-line treatment.

Marqeta shares rose 4%, extending a recovery that began after the payments technology company reported a stronger-than-expected second quarter.

The company reported earnings per share of $0.07, ahead of the $0.04 consensus estimate, while total processing volume jumped 32% year-over-year to $120 billion. Net revenue increased 17% to $176 million.

The results have helped restore investor confidence in the company’s growth trajectory after a period of weakness in the stock.

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