Premarket movers: Intel, Amazon drop; Crypto stocks slide after Binance theft

Investing.com - U.S. stock index futures fell sharply on Friday, with Nasdaq 100 futures dropping more than 2% as concerns over the rising cost of artificial intelligence infrastructure weighed on technology shares.

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Amazon's plans for further heavy AI investment and Intel's warning that it expected to burn cash this year heightened investor concerns about the returns on the sector's massive spending commitments.

By 04:04 ET (08:04 GMT), Nasdaq 100 futures had fallen 640 points, or 2.16%, while S&P 500 futures were down 77.5 points, or 1%. Dow futures slipped 25 points, or 0.05%.

Here are some of the biggest premarket U.S. stock movers today

Intel shares plunged 25% in premarket trading after the chipmaker warned it expected to burn cash this year amid manufacturing bottlenecks, heavy investment in production capacity and weakness in the personal computer market. The company has struggled with supply disruptions that have limited its ability to capitalize on growing demand for data-center chips. At the same time, rising memory prices have increased PC costs and weighed on demand, a trend Intel warned could persist through the first half of 2027. The company also forecast December-quarter revenue below market expectations.

Amazon shares fell 6.5% after the e-commerce and cloud computing giant forecast holiday-quarter sales below Wall Street expectations, adding to concerns about consumer demand as inflation picks up. The company's continued investment in AI infrastructure has also brought the cost of the technology buildout into sharper focus. Surging data-center spending is pushing major technology companies to commit increasingly large amounts of capital, while rising memory prices are putting pressure on demand for consumer devices such as smartphones and PCs.

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Cryptocurrency-linked stocks tumbled after reports of a $6.36 billion theft from Binance, described in the supplied information as the largest cryptocurrency theft on record. The funds were reportedly moved across 10 blockchains in about 20 minutes beginning at 20:05 UTC on Thursday, with the breach said to have originated from a compromised laptop belonging to a Binance engineer. The reported amount is more than four times the $1.5 billion stolen in the Bybit hack in February 2025.

Strategy, which holds a large Bitcoin position on its corporate balance sheet, was indicated 5.1% lower and stood around 51% below its 52-week high. Coinbase fell 5.2%, while Hut 8 and Robinhood Markets each lost 5.7%. Cipher Digital and Riot Platforms slid 5.3%, while Galaxy Digital, MARA Holdings and CleanSpark were down nearly 5%.

Reddit shares plunged around 23% in premarket trading despite the social media company reporting third-quarter results that beat analyst expectations, as investors focused on a weaker revenue outlook and declining search referral traffic.

Adjusted earnings came in at $1.40 per share, above the $1.33 consensus, while revenue rose 53% year-over-year to $895 million, topping estimates of $874.9 million. However, Reddit forecast fourth-quarter revenue of $1 billion to $1.03 billion, putting the midpoint below Wall Street's expectation of $1.05 billion. The company also warned that declines in traffic referrals from search engines were accelerating, adding to concerns about its future growth.

Twilio shares tumbled 17.5% after the cloud communications company issued a weaker outlook for fourth-quarter organic revenue growth, overshadowing better-than-expected third-quarter results. Adjusted earnings came in at $1.65 per share, beating the $1.47 consensus, while revenue of $1.56 billion topped forecasts of $1.52 billion. However, management expects organic revenue growth to slow to 11% to 12% in the fourth quarter, compared with 16% in the third quarter. Twilio also forecast adjusted operating income of $300 million to $310 million, below the $326 million recorded in the previous quarter, raising concerns about its near-term growth and margin trajectory.

Roblox shares fell 19.1% before the bell after the gaming platform reported a decline in daily active users and issued a weaker-than-expected bookings outlook. The company reported a loss of $0.32 per share, narrower than the expected loss of $0.43, while revenue of $1.57 billion exceeded estimates. However, daily active users fell 9% year-over-year to 138 million, below analysts' expectations of 145.8 million and marking the first annual decline in the platform's user base. Roblox forecast fourth-quarter bookings of $1.89 billion to $2 billion, below the roughly $2.02 billion consensus, and said adjusted EBITDA would turn negative during the period.

Mondelez International shares climbed 6.1% in premarket trading after the snack maker reported better-than-expected third-quarter earnings, supported by stronger margins and improving volume trends. Adjusted earnings came in at $0.78 per share, beating analyst expectations of $0.71. Adjusted gross margin expanded by 380 basis points to 34.2%, while volume and mix growth accelerated to 1.8 percentage points. Management maintained its 2026 outlook, forecasting organic net revenue growth of at least 2%, adjusted earnings growth of flat to 5% on a constant-currency basis and free cash flow of around $3 billion. The company also expressed confidence in delivering strong earnings growth in 2027.

Rivian Automotive shares surged 7.2% in premarket trading after the electric vehicle maker reported third-quarter results that topped expectations and raised its full-year delivery forecast. Revenue climbed 38% year-over-year to $2.16 billion, exceeding analyst estimates of around $1.99 billion, while its adjusted loss narrowed to $0.48 per share from the $0.64 loss expected. Gross profit reached $176 million, above estimates of approximately $110 million. Rivian raised its 2026 delivery forecast to between 67,000 and 70,000 vehicles and narrowed its adjusted EBITDA loss outlook to around $1.8 billion, better than analysts had anticipated.

European shares dip as Amazon, Intel stoke AI cash-burn fears

Crypto stocks drop after record $6.3bn Binance hack