Stock futures climbed Thursday morning as markets tried to bounce back from a sharp sell-off the day before. The drop on Wednesday was driven largely by concerns around AI stocks.
Sentiment improved after crude oil prices pulled back. The U.S. announced it had completed retaliatory strikes against Iran, easing fears of a wider conflict for now.
S&P 500 futures were up 0.60%, while Dow Jones futures rose 0.69%. The 10-year Treasury yield slipped to 4.526%.
In Wednesday’s session, the S&P 500 had fallen 1.62% and the Dow dropped 1.87%. Asian markets were mixed overnight, with Japan’s Nikkei up slightly and China’s Shanghai Composite edging lower.
Bitcoin rose 1.93% to $63,095 in early trading. Gold futures were down 0.64% and Brent crude fell 1.17%.
Navan was the standout mover of the morning, with shares up 19% in pre-market trading.
The travel and expense management company reported first-quarter results that came in well above expectations. Non-GAAP earnings per share of $0.08 beat estimates by $0.07.
Revenue came in at $220.3 million, topping consensus by $15 million.
Navan also raised its full-year guidance. The company now forecasts fiscal 2027 revenue of $907 million to $913 million, which would represent about 30% growth year over year.
Profitability guidance also improved, with non-GAAP operating income now expected between $76 million and $80 million.
AXT was up 7.3% in pre-market trading. Spyre Therapeutics, Coupang, and Tower Semiconductor all posted gains of at least 6%.
Oracle was one of the biggest losers of the morning, falling around 10% despite reporting strong quarterly results.
Fourth-quarter revenue rose 21% year over year to $19.2 billion. Adjusted earnings per share of $2.11 beat estimates.
Cloud infrastructure revenue jumped 93%, and total cloud revenue rose 47%. The company also reported a $638 billion remaining performance obligation backlog, driven by large AI contracts.
Oracle guided fiscal 2027 revenue to $90 billion, above what analysts had expected.
Despite all that, investors pushed the stock lower. The main concerns were a decline in legacy software revenue and plans to raise $40 billion through debt and equity to fund AI data center expansion.
Humacyte dropped 16% after pricing an offering of 47.6 million shares at $1.05 each, raising around $50 million.
PureCycle fell 14% after announcing $395 million in combined capital raises, including $250 million in convertible notes and an equity offering priced at $8.21 per share.
The post Today’s Market Movers: Navan Soars 19% While Oracle Sinks — What’s Moving Markets Today appeared first on CoinCentral.
