Premarket Movers | Apple Jumps 2%; Netflix Gains 3%; Coinbase Rises 5%; Strategy up 7%; Western Digital Surges 11%; Solid Power Soars 17%

Apple shares jumped 2% in premarket trading.

Apple Chief Executive Tim Cook on Thursday gave forecasts for holiday quarter iPhone sales and overall revenue that surpass Wall Street expectations, powered by orders for iPhone 17 models that the company is racing to fulfill amid continuing supply constraints.

The constraints, as well as delays in shipping new phones to China, led Apple to miss iPhone sales forecasts in the fiscal fourth quarter, although the shortfall was made up for by strength in other areas such as new AirPods that use AI to translate languages, and profit topped Wall Street targets.

Netflix shares jumped 3% in premarket trading after the company announced a ten-for-one stock split, making the streaming company's shares more affordable for retail investors.

The company said it would issue nine additional shares for each share held after close of trading on Nov 10, adding that the split will make its stock more accessible to employees participating in its stock option program.

Coinbase Global, Inc. beat analysts' estimates for third-quarter profit on Thursday, as heightened volatility in digital assets boosted trading volumes at the cryptocurrency exchange, sending its shares up more than 5% in premarket trading.

Digital assets rallied in July as crypto-friendly policies by U.S. President Donald Trump attracted institutional investor interest, catapulting bitcoin, the world's largest cryptocurrency, to new peaks.

Strategy posted a profit in the third quarter, compared with a loss a year earlier, as improving sentiment around the cryptocurrency sector benefited the largest corporate holder of bitcoin, sending its shares up nearly 7% in premarket trading.

Until the fourth quarter of 2024, Strategy could only record impairment losses when bitcoin's value fell below its purchase price, while gains from price increases remained unrealized unless the cryptocurrency was sold.

Twilio shares climbed after the company raised its guidance for the full year. The stock gained nearly 8% in premarket trading.

The company, which helps other businesses send out messages, now expects annual revenue to grow 12.4% to 12.6%, an increase from the 10% to 11% range it previously shared. It also raised its view for adjusted income from operations.

Cloudflare reported Q3 adjusted earnings late Thursday of $0.27 per diluted share, up from $0.20 a year earlier. Analysts polled by FactSet expected $0.23.

Revenue in the three months ended Sept. 30 rose to $562 million from $430.1 million a year earlier. Shares up nearly 9% in premarket trading.

Western Digital forecast second-quarter earnings above Wall Street estimates on Thursday, betting on higher demand for its data storage products as cloud providers increase data center capacity.

The company also increased the quarterly cash dividend on its common stock by 25% to $0.125 per share, sending its shares up nearly 11% in premarket trading.

Reddit forecast fourth-quarter revenue above Wall Street estimates on Thursday as its artificial intelligence-powered advertising tools help draw more marketing spending, sending shares of the social media platform up 13% in premarket trading.

The company's AI-optimized ad platform helps advertisers to place targeted ads directly within relevant discussion threads across its interest-based communities, known as subreddits.

Solid Power, Inc rose 17% in premarket trading after unveiling a strategic collaboration with Samsung SDI and BMW to pursue development and validation of a demonstration vehicle powered by all-solid-state battery technology.

Under the arrangement, Solid Power (SLDP) will provide sulfide-based solid electrolyte to Samsung SDI, which Samsung SDI will integrate into separator and/or catholyte and use to build cells, which will be evaluated based on performance parameters and requirements to be agreed between Samsung SDI and BMW.