{"id":74258,"date":"2026-11-06T09:38:35","date_gmt":"2026-11-06T13:38:35","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-movers-tech-earnings-surge-as-fed-eyes-subdued-payroll-growth\/74258\/"},"modified":"2026-11-06T09:38:35","modified_gmt":"2026-11-06T13:38:35","slug":"market-movers-tech-earnings-surge-as-fed-eyes-subdued-payroll-growth","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-movers-tech-earnings-surge-as-fed-eyes-subdued-payroll-growth\/74258\/","title":{"rendered":"Market Movers: Tech Earnings Surge as Fed Eyes Subdued Payroll Growth"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Cloudflare (<a href=\"\/stock\/NET\">NET<\/a>)<\/strong> and <strong>Airbnb (<a href=\"\/stock\/ABNB\">ABNB<\/a>)<\/strong> shares surged <strong>20%<\/strong> and <strong>13.5%<\/strong> respectively in <a href=\"https:\/\/stockmarketwatch.com\/movers\/premarket\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Premarket Movers\">pre-market trading<\/a> following significant earnings beats and robust forward guidance.<\/li>\n<li><strong>US Nonfarm Payrolls<\/strong> for October are projected to rise by a modest <strong>65,000<\/strong>, a figure that could solidify expectations for a <strong>25-basis-point rate hike<\/strong> by the Federal Reserve in December.<\/li>\n<li><strong>Eli Lilly (<a href=\"\/stock\/LLY\">LLY<\/a>)<\/strong> and <strong>Hims &amp; Hers (<a href=\"\/stock\/HIMS\">HIMS<\/a>)<\/strong> announced a landmark agreement to expand access to obesity drugs <strong>Zepbound<\/strong> and <strong>Foundayo<\/strong> directly through the Hims &amp; Hers platform.<\/li>\n<li><strong>Firefly Aerospace (<a href=\"\/stock\/FLY\">FLY<\/a>)<\/strong> secured a massive <strong>$1.3 billion<\/strong> rocket engine deal with <strong>AST SpaceMobile (<a href=\"\/stock\/ASTS\">ASTS<\/a>)<\/strong>, marking a transformational milestone for the commercial space sector.<\/li>\n<li><strong>DraftKings (<a href=\"\/stock\/DKNG\">DKNG<\/a>)<\/strong> shares plummeted <strong>24%<\/strong> after reporting a wider-than-expected loss and lowering its full-year revenue outlook.<\/li>\n<\/ul>\n<h2>Tech and Growth Stocks Lead Pre-Market Surge<\/h2>\n<p><strong>Cloudflare (<a href=\"\/stock\/NET\">NET<\/a>)<\/strong> emerged as a top performer, jumping <strong>20%<\/strong> after reporting its &quot;best quarter ever&quot; with revenue of <strong>$782.5 million<\/strong> (up 39% YoY) and raising its full-year guidance. The company officially crossed the <strong>$3 billion<\/strong> annualized revenue milestone, driven by high demand for its AI-native development platform. Similarly, <strong>Airbnb (<a href=\"\/stock\/ABNB\">ABNB<\/a>)<\/strong> saw its stock rise <strong>13.5%<\/strong> as it reaccelerated growth with an <strong>18.9%<\/strong> revenue increase and a new <strong>$12 billion<\/strong> share repurchase authorization.<\/p>\n<p>In the semiconductor and infrastructure space, <strong>Lam Research (<a href=\"\/stock\/LRCX\">LRCX<\/a>)<\/strong> climbed <strong>11%<\/strong> after its board approved a massive <strong>$25 billion<\/strong> share repurchase program. <strong>IREN (<a href=\"\/stock\/IREN\">IREN<\/a>)<\/strong> also rallied <strong>16.5%<\/strong> as its AI Cloud revenue nearly tripled to <strong>$200 million<\/strong>, despite some customer-requested design changes pushing its $4 billion ARR target into early 2027.<\/p>\n<h2>Mixed Results for Consumer and Gaming Platforms<\/h2>\n<p><strong>DraftKings (<a href=\"\/stock\/DKNG\">DKNG<\/a>)<\/strong> faced a sharp sell-off, dropping <strong>24%<\/strong> after reporting an adjusted loss of <strong>$0.53 per share<\/strong>, significantly wider than the $0.39 loss analysts expected. The company also trimmed its 2026 revenue guidance to a midpoint of <strong>$6.45 billion<\/strong>, citing a softer-than-expected quarter. <strong>Lyft (<a href=\"\/stock\/LYFT\">LYFT<\/a>)<\/strong> also struggled, falling <strong>7%<\/strong> after a surprise net loss of <strong>$9.7 million<\/strong>, despite reaching record active rider numbers.<\/p>\n<p>In the apparel sector, <strong>Under Armour (<a href=\"\/stock\/UAA\">UAA<\/a>)<\/strong> shares fell <strong>10.5%<\/strong> following a revenue miss and a downward revision to its gross margin outlook. Conversely, <strong>Moderna (<a href=\"\/stock\/MRNA\">MRNA<\/a>)<\/strong> rose <strong>3.7%<\/strong> after posting its first profitable quarter in years, fueled by international COVID vaccine deliveries and a raised full-year revenue growth outlook of <strong>15% to 25%<\/strong>.<\/p>\n<h2>Macro Outlook: Fed and BOE Policy in Focus<\/h2>\n<p>Investors are closely watching the <strong>US Employment Situation<\/strong> report for October, with a median estimate of <strong>65,000<\/strong> new jobs. While hiring remains subdued compared to historical averages, the <strong>unemployment rate<\/strong> is expected to hold steady at <strong>4.2%<\/strong>. This stability, paired with firm wage growth, is likely to keep the <strong>Federal Reserve<\/strong> on track for a quarter-point rate hike in December.<\/p>\n<p>Across the Atlantic, <strong>Bank of England<\/strong> Chief Economist <strong>Huw Pill<\/strong> signaled a data-driven approach for 2027, stating that interest rates could stay on hold or even fall if UK growth stalls. Pill emphasized that the decision on a second rate hike will play out over the coming weeks as the bank monitors &quot;second-round effects&quot; and energy price pressures within the system.<\/p>\n<h2>Strategic Moves and Partnerships<\/h2>\n<p><strong>Eli Lilly (<a href=\"\/stock\/LLY\">LLY<\/a>)<\/strong> and <strong>Hims &amp; Hers (<a href=\"\/stock\/HIMS\">HIMS<\/a>)<\/strong> have entered a strategic partnership to sell branded obesity medications directly on the Hims &amp; Hers site. This move, which sent <strong>HIMS<\/strong> shares up <strong>7.5%<\/strong>, eliminates friction for patients seeking <strong>Zepbound<\/strong> and <strong>Foundayo<\/strong>. In another notable corporate disclosure, <strong>Alphabet (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>)<\/strong> revealed a <strong>$548 million<\/strong> stake in <strong>Qualcomm (<a href=\"\/stock\/QCOM\">QCOM<\/a>)<\/strong>, causing the chipmaker&#39;s stock to rise <strong>3%<\/strong> in early trading.<\/p>\n<p>Finally, the commercial space industry saw a major development as <strong>Firefly Aerospace (<a href=\"\/stock\/FLY\">FLY<\/a>)<\/strong> signed a <strong>$1.3 billion<\/strong> agreement to provide 36 rocket engines to <strong>AST SpaceMobile (<a href=\"\/stock\/ASTS\">ASTS<\/a>)<\/strong>. The deal provides Firefly with critical funding to accelerate its launch vehicle production while giving AST SpaceMobile greater control over its satellite launch schedule.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Cloudflare (NET) and Airbnb (ABNB) shares surged 20% and 13.5% respectively in pre-market trading following significant earnings beats 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