By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Thursday, November 3rd. Please refresh for updates.

• Qualcomm (NASDAQ: QCOM) stock fell 8.1% after the chipmaker's forecast for holiday quarter revenue fell short of expectations, as it struggles with a slump in sales to smartphone customers.

• Peloton (NASDAQ: PTON) stock fell 16.4% after the exercise bike manufacturer forecast second quarter revenue below expectations as it struggles with weak demand for its fitness equipment.

• Roku (NASDAQ: ROKU) stock slumped 20% after the streaming platform forecast holiday quarter revenue below estimates as ad spending dries up.

• ConocoPhillips (NYSE: COP) stock rose 1.5% after the oil major reported a sharp jump in third quarter profit, and lifted its share repurchase plan to $45 billion.

• Moderna (NASDAQ: MRNA) stock slumped 12% after the drugmaker cut the annual sales forecast for its COVID-19 vaccine, citing short-term supply constraints.

• Under Armour (NYSE: UA) stock rose 5.6% after the sportswear retailer forecast growing sales in 2023 even as consumers cut back on discretionary purchases.

• Fortinet (NASDAQ: FTNT) stock fell 13% after the cybersecurity firm disappointed with its revenue growth while its billing guidance fell short of expectations.

• Qorvo (NASDAQ: QRVO) stock fell 5.4% after JPMorgan downgraded its stance on the semiconductor all the way down to 'underweight' from 'overweight', saying it could underperform its peers.

• Restaurant Brands (NYSE: QSR) stock rose 4% after the fast food holding company posted better than expected quarterly numbers, helped by sales growth at Burger King and Tim Hortons.