Check out the companies making the biggest moves premarket: Steel Dynamics , Nucor — Shares of both steel producers fell more than 1.5% after they delivered third-quarter earnings guidance that showed weaker-than-expected results compared to analysts polled by FactSet’s consensus estimates. Nucor said earnings in the steel mills and steel products segments earnings will increase, while they’re expected to decrease in the raw materials segment. Netflix — The streamer declined more than 3% after Wells Fargo downgraded the stock to underweight. Analysts at the bank said that worrying engagement trends and weaker content expected to be released in the second half of 2026 will lead to lower margin expansion in 2027 and 2028. Xenon Pharmaceuticals — The stock sunk 25% after the company announced it was pausing enrollment for new patients in its clinical studies for treatments for major and bipolar depression. While the pause is expected to be temporary, it was put in place due to the discovery of neuropsychiatric side effects in the studies. Cryptocurrency stocks — Shares of crypto-exposed companies rose in premarket trading after bitcoin prices crossed $78,000 again, rising 2%. Trading platforms Robinhood and Coinbase rose 2.5% and 1%, respectively, while crypto treasury company Strategy jumped 3%. Macom Technology Solutions — The stock was up 3% after BMO Capital Markets upgraded the stock to outperform. Analysts said Macom’s valuation has become attractive following a more than 35% decline from its 2026 highs, even while fundamentals in its data center, industrial and defense businesses have remained strong.
