Morning Movers: PayPal, Shopify drop following quarterly earnings reports

Futures are pointing higher this morning as oil pulls back from recent spikes. Crude had surged above $110-$120 on escalating U.S.-Iran conflict headlines, but is now easing and the 10-year yield is stabilizing around the mid-4% range.

Earnings remain strong and AI capital expenditures continue to act as a structural tailwind. There is persistent capital flow into semis and hyperscalers, with expectations for massive multi-year spend cycles anchoring estimates higher. Under the surface, dispersion remains high. Strong prints are still being rewarded while weaker forward visibility is getting punished.

In pre-market trading, S&P 500 futures rose 0.44%, Nasdaq futures rose 0.73% and Dow futures rose 0.36%.

Check out this morning’s top movers from around Wall Street, compiled by The Fly. 

HIGHER –

• Intel (INTC) up 4% after Bloomberg reported Apple (AAPL) has held discussions on using Intel and Samsung (SSNLF) to produce the main processors for its U.S. devices

UP AFTER EARNINGS –

• Pinterest (PINS) up 18%
• Integra LifeSciences (IART) up 10%
• Waters (WAT) up 10%
• Rockwell Automation (ROK) up 9%
• AB InBev (BUD) up 6%
• DuPont (DD) up 2%
• Cummins (CMI) up 2%
• KKR (KKR) up 1%
• GlobalFoundries (GFS) up 1%
• Archer Daniels (ADM) up 1%
• Leidos (LDOS) up 1%

DOWN AFTER EARNINGS –

• Fabrinet (FN) down 12%
• Fiserv (FISV) down 9%
• PayPal (PYPL) down 8%
• Shopify (SHOP) down 6%
• On Semi (ON) down 6%
• Eaton (ETN) down 4%
• Duolingo (DUOL) down 4%
• Palantir (PLTR) down 1%