Premarket Movers | BWXT Soars 11%; Faraday Future Jumps 6%; Figma Rises 5%; Opendoor up 3%; Navitas Tumbles 15%; SES AI Plunges 12%

Meme stocks rose in premarket trading. Faraday Future rose 6%; Opendoor rose 3%; BlackBerry rose 1%.

Figma rose 5% in premarket trading after the company slumped 27% on profit taking on Monday, as euphoria over the design software firm waned days after its blockbuster initial public offering.

BWX Technologies Inc rose 11% in premarket trading after the Aerospace and defense company reported Q2 CY2025 results exceeding the market’s revenue expectations, with sales up 12.1% year on year to $764 million. The company’s full-year revenue guidance of $3.1 billion at the midpoint came in 1.3% above analysts’ estimates. Its non-GAAP profit of $1.02 per share was 28.7% above analysts’ consensus estimates.

SES AI Corp shares fell 12% in premarket trading after the company reported its second-quarter earnings for 2025, revealing a revenue shortfall against forecasts, which led to notable stock price movements. The company posted a revenue of $3.5 million, falling short of the expected $4.5 million, marking a 22.22% miss.

Vertex Pharmaceuticals will stop developing its experimental non-opioid painkiller as a solo treatment after a mid-stage trial failure and will not start a study for expanded use of its approved pain drug, sending its shares down 14% in premarket trading.

The company has been diversifying into gene therapies and non-opioid painkillers as it looks to reduce its reliance on cystic fibrosis drugs, a market it dominates.

Navitas Semiconductor Corp shares plunged 15% premarket after the gallium nitride (GaN) and silicon carbide (SiC) power semiconductor company reported a substantial earnings miss for the second quarter, despite slightly exceeding revenue expectations.

MercadoLibre shares fell 6% in premarket trading after the Latin American e-commerce giant on Monday missed analysts' estimates for second-quarter net profit and core earnings, as increased free shipping in Brazil drove sales up but also hit margins.

MercadoLibre, Latin America's largest company by market value, reported net income of $523 million for the quarter through the end of June, down 1.5% year-on-year and below the $596 million expected by analysts in an LSEG poll.