Premarket movers: Deere jumps following upbeat Q3, Wolfspeed plunges

CrowdStrike shares fell 2.8% in premarket trading after Bloomberg reported that the cybersecurity company’s chief technology officer is departing to launch an artificial intelligence-focused cybersecurity fund. The departure represents a notable leadership change as CrowdStrike operates in a rapidly evolving cybersecurity market increasingly shaped by AI.

Advance Auto Parts stock plunged 15.9% after the auto-parts retailer’s second-quarter results revealed a significant difference between its headline earnings and underlying performance.

The company reported adjusted diluted earnings of $1.03 per share, beating the roughly $0.80 analyst consensus. However, about $0.31 of the reported earnings came from one-time tariff refunds, putting normalized earnings closer to $0.72 per share and below what analysts had expected from the core business.

Deere shares jumped 5.1% after the agricultural and construction equipment maker delivered a stronger-than-expected fiscal third quarter.

Diluted earnings per share came in at $5.10, above estimates ranging from roughly $4.67 to $4.79, while net sales of about $11 billion also topped forecasts of approximately $10.73 billion to $10.81 billion. Net income attributable to Deere rose to $1.379 billion from $1.289 billion a year earlier.

Etsy gained 3.9% in premarket trading after BofA Securities upgraded the online marketplace to Buy from Neutral and raised its price target to $105 from $88.

BofA pointed to what it sees as durable execution under CEO Kruti Patel Goyal’s four strategic growth pillars and said the company’s full-year guidance may prove conservative. The bank also highlighted Etsy’s mobile app, which accounts for 47% of gross merchandise sales, as an important driver of buyer lifetime value and personalization.

Ultragenyx surged 11.1% after the U.S. Food and Drug Administration granted accelerated approval to GENGLYCOS, also known as DTX401, a gene therapy for glycogen storage disease type Ia in patients aged eight and older.

The approval marks Ultragenyx’s first gene therapy authorization and its fifth FDA approval overall. The decision was supported by 48-week Phase 3 GlucoGene data showing a statistically significant reduction in patients’ daily cornstarch requirements. The company also received a Priority Review Voucher.

Moderna shares fell 13% in premarket trading, retreating after more than doubling in the previous session following the company’s major cancer-vaccine trial announcement with Merck.

The companies said their personalized mRNA cancer vaccine, intismeran autogene, met both the primary and key secondary endpoints in the Phase 3 INTerpath-001 trial in more than 1,100 high-risk melanoma patients. Thursday’s decline appeared to reflect profit-taking following the stock’s record single-session surge.

Wolfspeed plunged 10.5% after the semiconductor company reported a sharply wider-than-expected fiscal fourth-quarter loss.

The company reported an adjusted loss of $2.26 per share, compared with expectations for a loss of $0.52, while revenue of $149.6 million was about 33% below the $223.55 million consensus and fell roughly 24% year-over-year. TD Cowen reiterated its Hold rating following the results.

Webull rose 13.8% after the digital brokerage reported its strongest quarterly results since going public.

Second-quarter revenue reached $198.8 million, beating expectations of about $165.7 million, while adjusted earnings of $0.05 per share topped the $0.04 consensus. Trading-related revenue jumped 66% year-over-year to $147.7 million, while adjusted operating profit soared 169% to a record $62.6 million.