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Stock futures inched lower in the premarket hours of Thursday as investors worked through a fresh wave of technology earnings while keeping a close eye on escalating geopolitical tensions in the Middle East.
Here are some of Thursday's biggest stock movers:
Biggest stock gainers
- Hyliion (HYLN) +15% - Shares surged after the company secured a $41.7M U.S. Navy contract from the Office of Naval Research to design, develop, build, test, and deliver 2-megawatt and 3-megawatt KARNO power generation systems for locations designated by the agency. This marks a significant validation of Hyliion's KARNO technology by the government.
- United Rentals (URI) +8% - Shares jumped after the equipment rental company beat Q2 revenue and earnings estimates and raised its full-year guidance on continued strength in large construction and industrial projects. Revenue reached a record $4.41B, while adjusted EPS of $12.76 topped expectations. The company also lifted its FY2026 revenue, EBITDA, operating cash flow, and capital spending outlooks, citing strong customer demand, healthy project backlogs, and year-to-date momentum.
- ServiceNow (NOW) +5% - Shares rose after the enterprise software company beat Q2 revenue and earnings estimates and raised its full-year subscription revenue outlook. Revenue climbed 24% Y/Y to $3.98B, while adjusted EPS of $0.90 topped expectations. ServiceNow also highlighted ninefold growth in AI agent deployments over the past nine months and increased its 2026 subscription revenue guidance, underscoring continued strong demand for its AI-powered enterprise software platform.
Biggest stock losers
- Tesla (TSLA) -4% - Shares slid after the EV maker missed Q2 earnings expectations as margin compression and negative free cash flow overshadowed record revenue. EPS of $0.33 missed consensus, while operating margin fell to 1.4%, gross margin slipped to 16.8%, and the company posted negative free cash flow of $1.1B due to elevated capital spending. Tesla reported record quarterly revenue growth of 26% Y/Y and reaffirmed plans to begin Tesla Semi, Megapack 3, and Optimus production in 2026, but weaker profitability weighed on investor sentiment.
- Alphabet (GOOG) (GOOGL) -3% - Shares fell as surging AI spending, weaker-than-expected profitability, and higher capital expenditure guidance overshadowed a strong Q2 earnings beat. Revenue climbed 25% to $119.8B, led by an 82% jump in Google Cloud revenue, but adjusted EPS missed estimates, the operating margin of 34% fell short of expectations, and the company posted negative free cash flow of $5.9B as AI infrastructure spending accelerated. Alphabet also raised its 2026 capex outlook to $195B-$205B from $180B-$190B, fueling concerns over the cost of its AI expansion despite robust cloud growth and a record $514B backlog.
