Biggest Premarket Stock Movers: Alibaba, Ulta, Dell, Caterpillar & More

In premarket trading, several major companies saw notable stock movements driven by earnings reports, forecasts, and industry developments. Alibaba, the Chinese e-commerce giant, experienced a surge of over 3% in its shares after reports from The Wall Street Journal indicated that the company had developed a more advanced semiconductor chip. This development comes as Alibaba seeks to fill the gap created by Nvidia, which faces difficulties in selling its chips in China due to regulatory and trade-related issues. Meanwhile, Nvidia shares continued to decline, dropping approximately 1% in premarket trading, extending recent losses amid ongoing market challenges.

Caterpillar, a leading industrial equipment manufacturer, saw its shares fall nearly 3% in premarket trading after issuing a warning that tariffs could impose a financial hit of between $1.5 billion and $1.8 billion for the current fiscal year. Investors appeared cautious over the company’s outlook given the impact of international trade measures on its profitability.

Dell Technologies, a major technology stock, declined 5% in premarket trading after issuing third-quarter earnings guidance that fell short of Wall Street expectations. Despite the weaker guidance, Dell exceeded analyst expectations in terms of its top and bottom lines for the latest quarter, indicating that the company remains fundamentally strong, although investor sentiment focused on the shortfall in guidance.

Ulta Beauty, a leading retailer of cosmetics and beauty products, gained approximately 4% after raising its full-year earnings and revenue forecast. Ulta now expects annual revenue between $12 billion and $12.1 billion, surpassing the $11.7 billion analyst estimate. Full-year earnings per share are projected between $23.85 and $24.30, above the $23.65 estimate, reflecting strong demand and positive operational performance.

Affirm Holdings, the fintech provider specializing in buy-now-pay-later services, rallied 15% after reporting fiscal fourth-quarter earnings and revenue that exceeded analyst expectations. Affirm posted earnings of 20 cents per share on revenue of $876 million, outperforming the 11-cent-per-share and $837 million revenue projections anticipated by analysts.

Autodesk, the software company, saw its shares rise 9.9% following a strong second-quarter earnings report. Autodesk earned $2.62 per share on revenue of $1.76 billion, exceeding analyst projections of $2.45 per share and $1.73 billion revenue. The company also provided upbeat guidance for the current quarter and the full fiscal year, contributing to investor optimism.

SentinelOne, a cybersecurity firm, gained 8% after reporting adjusted second-quarter earnings of 4 cents per share, beating analyst expectations of 3 cents. Revenue came in at $242 million, aligning with estimates, while the company raised its guidance for the current quarter and fiscal year, reflecting confidence in continued growth.

Ambarella, a fabless semiconductor design company, surged 18% following strong artificial intelligence-driven demand and robust second-quarter results. The company now expects fiscal 2026 revenue of $379 million, above the $350 million consensus estimate, highlighting the impact of AI growth on its business.

Lastly, Dollar Tree, a discount retailer, increased nearly 1% after being upgraded by Telsey Advisory Group from “market perform” to “outperform.” With the sale of Family Dollar, the firm now has a clear path toward multi-year growth, attracting investor interest.

Overall, these premarket movements reflect a combination of strong earnings results, revised guidance, industry-specific challenges, and positive growth projections, signaling an active trading environment ahead of the opening bell. Investors reacted to both company fundamentals and broader macroeconomic conditions affecting trade, tariffs, and technology supply chains.