Every once in a while, the market wakes up in a mood. Today feels like one of those mornings where the premarket action is screaming louder than your alarm clock ever could.
I was sipping my first coffee, half-asleep, when the numbers started rolling in. Deere down sharply even though they crushed earnings? Dell guiding way above street expectations? Retail names flying while legacy tech plans mass layoffs? Yeah, this isn’t your average Wednesday in late November.
Let me walk you through the chaos – because some of these moves are genuinely fascinating, and a few might actually matter for more than just today’s headline chase.
The Biggest Premarket Movers You Need to Know Right Now
Here’s the thing about premarket trading: it’s emotional, it’s thin, and it’s often wrong in the long run – but man, it sets the tone. So let’s dig into the names actually moving the needle before the opening bell.
Deere & Company (DE) – The Beat That Nobody Celebrated
Picture this: you hand in a project that exceeds every target, and your boss still looks disappointed. That was Deere this morning.
The farm equipment giant reported fiscal fourth-quarter earnings of $3.93 per share on $10.58 billion in revenue. Analysts were modeling $3.85 and $9.85 billion. Solid beat, right? Yet shares are down more than 4.5% premarket.
Why the cold shoulder? Farmers aren’t exactly rushing out to buy new tractors when commodity prices are soft and interest rates still bite. In my experience, agriculture stocks live and die by sentiment around the farming economy, and right now that sentiment is cautious at best.
Equipment demand doesn’t turn on a dime – even great quarters get punished when the cycle feels heavy.
Dell Technologies (DELL) – AI Tailwind Just Got Real
Now flip the script entirely. Dell dropped guidance of $31.5 billion in sales for the current quarter. Wall Street was looking for $27.6 billion. That’s not a beat – that’s a knockout.
The driver? You already know the answer: artificial intelligence servers. Orders are pouring in faster than the company can fulfill them in some cases. Shares up roughly 3% premarket, but honestly I wouldn’t be shocked to see this run another 5-10% once the East Coast wakes up fully.
Perhaps the most interesting aspect is how quickly the narrative flipped. Six months ago people were worried Dell was late to the AI party. Today the order backlog speaks for itself.
Urban Outfitters (URBN) – Retail That Still Works
In a world where most apparel chains are fighting for survival, Urban Outfitters just reminded everyone they’re still pretty good at this retail thing.
Earnings of $1.28 per share on $1.53 billion revenue smoked estimates of $1.20 and $1.47 billion. Shares rocketing 17% premarket – easily one of the biggest percentage movers of the morning.
- Comparable store sales growth across brands
- Strength in Anthropologie and Free People continuing
- Nuuly subscription rental service scaling faster than expected
Retail isn’t dead. Some brands just figured out how to speak Gen Z better than others.
Autodesk (ADSK) – Quietly Crushing It
Sometimes the best moves happen under the radar. Autodesk jumped 8% after posting $2.67 adjusted earnings per share and $1.85 billion in revenue – both clean beats.
Design software might not be sexy, but when architects, engineers, and manufacturers are busy, Autodesk prints money. And right now? They’re busy.
HP Inc (HPQ) – The Layoff Hangover
Not every story has a happy ending. HP announced plans to cut 4,000 to 6,000 jobs over the next few years and issued fiscal 2026 earnings guidance below consensus.
Shares down more than 3% premarket. The PC market recovery keeps getting pushed further out, and printing remains a slow-motion train wreck. Tough to sugarcoat this one.
The AI Infrastructure Crowd: Winners and Losers
This earnings season has become a referendum on who actually benefits from the AI buildout. Let’s run the scorecard:
- NetApp – Beat on earnings ($2.05 vs $1.89) and guidance, shares +6%
- Zscaler – Top and bottom line beats but posted an operating loss, down 7%
- Nutanix – Revenue miss and slashed full-year outlook, down nearly 15%
The message? Not every company with “cloud” in its pitch deck gets a free pass. Execution still matters.
Quick Hits on Other Notable Movers
Before we wrap up, a lightning round of names worth watching:
- Petco – Raised full-year EBITDA guidance, shares +17%
- Workday – Subscription revenue guidance slightly light, down 6%
- PagerDuty – Earnings beat, revenue tiny miss, down 6%
- Ambarella – Clean beat but shares still down 7% (classic “sell the news”)
It’s mornings like this that remind me why I still get excited about markets after all these years. One company can report fantastic numbers and get punished because the bar was set in the stratosphere, while another guides conservatively and gets rewarded for “beating a low bar.”
The real takeaway? Context is everything. A beat isn’t always a beat, and guidance trumps everything when growth narratives are this stretched.
As always, trade your plan, respect your stops, and remember – premarket moves are entertainment until the regular session confirms the direction.
Now if you’ll excuse me, I need another coffee before the opening bell rings.
