Riot, NIQ surge, On Holding tumbles premarket

Investing.com - U.S. stock futures were little changed on Tuesday, as fading hopes for a deal to reopen the Strait of Hormuz kept oil prices elevated, while investors looked ahead to key U.S. inflation data for fresh clues on the Federal Reserve’s interest rate path.

By 06:15 ET (10:15 GMT), the Dow futures contract had edged down 71 points, or 0.1%, while S&P 500 futures were mostly flat and Nasdaq 100 futures had inched up 22 points, or 0.1%.

The muted futures action came as investors balanced geopolitical uncertainty against a busy premarket earnings slate, with sharp moves in several technology, defense and consumer stocks.

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

Riot Platforms shares surged 18.3% in premarket trading to $22.95 after the company landed a $9.1 billion, 20-year AI data center contract with Anthropic, marking one of the largest deals yet to link the cryptocurrency mining industry with the rapidly expanding AI infrastructure market.

The deal is prompting investors to reassess the value of Riot’s data center assets and its potential transition beyond bitcoin mining toward AI infrastructure.

Peers also moved higher, although to a lesser extent. CleanSpark gained 4.1%, Hut 8 rose 3.1%, Cipher Mining added 2.5% and TeraWulf climbed 2.2%.

The divergent moves suggest investors are beginning to differentiate among crypto miners based on their ability to monetize power and data center infrastructure for AI customers.

NIQ Global Intelligence shares surged 15.2% before the bell after the consumer intelligence company delivered a broad second-quarter earnings beat and raised its full-year outlook.

Adjusted EPS came in at $0.27, above the $0.21 analyst consensus, while revenue of $1.12 billion edged past expectations of $1.11 billion. Reported revenue grew 8% year-over-year, while organic constant-currency growth remained above 5% for a tenth consecutive quarter.

Profitability also improved, with adjusted EBITDA rising 21.9% to about $262 million and the margin expanding 270 basis points to 23.3%. Levered free cash flow turned positive at $74.1 million.

Management raised its full-year adjusted EPS guidance to $1.08-$1.12, with the midpoint about 12% above the previous analyst consensus.

On Holding shares fell 15.2% in premarket trading after the Swiss sportswear company reported second-quarter net sales of CHF 850.3 million, below the roughly CHF 881 million analysts had expected.

Sales still increased 21.6% on a constant-currency basis, but management pointed to a more difficult consumer environment and higher U.S. tariff costs as headwinds, particularly in the Americas.

The weaker-than-expected revenue performance overshadowed the company’s underlying growth and sent shares sharply lower before the open.

Rocket Lab shares dropped 9% in premarket trading after the space company reported record second-quarter revenue but disappointed investors with profitability and margin guidance.

Revenue rose 62% year-over-year to $234 million, slightly ahead of the roughly $232 million analyst consensus. However, the company reported an adjusted loss of $0.08 per share, while third-quarter GAAP gross margin guidance of 29%-31% came in well below the Street’s estimate of about 37.6%.

The margin outlook triggered an after-hours selloff that carried into Tuesday’s premarket session.

Hims & Hers Health shares fell nearly 7% before the bell despite the company reporting better-than-expected second-quarter revenue, adding more than 300,000 subscribers and raising its full-year revenue forecast.

Investors instead focused on profitability pressures as the company expands into branded GLP-1 weight-loss drugs and international markets. Higher costs pushed the company to a quarterly loss, compared with a profit a year earlier.

The reaction highlights the growing importance of margins as investors assess whether the company’s rapid subscriber growth can translate into sustainable earnings.

Everpure, formerly known as Pure Storage, gained 4.5% in premarket trading, reaching a new 52-week high after announcing a design win and supply agreement with a second top-five hyperscaler.

The company’s DirectFlash technology will be used to optimize hyperscale storage across multiple performance tiers. The deal builds on a similar agreement secured in late 2024 and provides another indication of demand for high-performance storage infrastructure as hyperscalers expand AI computing capacity.

Elbit Systems shares fell 6.1% before the open despite the defense technology company beating Wall Street expectations on both earnings and revenue.

Non-GAAP diluted EPS came in at $4.14 versus consensus of $3.24, while revenue reached $2.29 billion compared with expectations of $2.22 billion. GAAP net income also increased to $173.6 million from $125.7 million a year earlier.

The decline suggests investors may have been looking for an even stronger sequential performance after GAAP EPS fell to $3.61 from $3.87 in the first quarter.

Ceragon Networks rose 4.7% in premarket trading after releasing its second-quarter results. The company entered the report with a strong order backdrop, including about $120 million in orders from Indian telecom operators year-to-date and more than $10 million in private-network bookings during the second quarter.

A five-year, $70 million agreement with a tier-one Asia-Pacific mobile operator announced in July had also strengthened the company’s demand outlook.

Ampco-Pittsburgh gained 7.6% after reporting a return to profitability in the second quarter. Net income reached $0.07 per share, compared with a loss of $0.36 a year earlier, while adjusted EBITDA increased 22% to $9.8 million.

Customer orders rose 32% to $268 million during the first half of 2026, compared with $204 million a year earlier.

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