Premarket Movers | e.l.f. Beauty Plummets 24%; Duolingo Tumbles 22%; DoorDash Sinks 10%; Qualcomm Drops 3%

e.l.f. Beauty shares plunged 24% after the cosmetics company reported second-quarter revenue that fell short of analyst expectations and issued disappointing guidance for fiscal 2026.

Duolingo forecast fourth-quarter bookings below Wall Street estimates as the company prioritizes user growth and teaching quality on its app, sending its shares tumbling 22%.

American Superconductor reported second-quarter adjusted earnings that beat analyst expectations, but shares plunged 18% following a significant revenue miss and guidance that failed to impress investors.

Redwire shares fell 15% after the company released its third-quarter earnings report, missing analyst estimates. 

Marketing and sales software giant HubSpot delivered solid financial results, breezing past Wall Street’s expectations on earnings and revenue, but its stock sank 12% on the back of tepid guidance for the current quarter.

The cybersecurity company Fortinet sank 10% as revenue in its service segment missed expectations.

DoorDash reported third-quarter profit that missed Wall Street estimates as the delivery firm grapples with rising expenses and said that it would invest several hundred million dollars more in 2026 on new initiatives. The shares were down 10%.

Qualcomm, the largest maker of smartphone processors, became the latest chipmaker to deliver an upbeat forecast and still leave investors underwhelmed. Though the company’s sales and profit forecasts handily topped Wall Street estimates, its stock slipped 3%.

Lucid lowered its 2025 production forecast to 18,000 vehicles, interim CEO Marc Winterhoff said, as the electric-vehicle maker, like many of its rivals, grapples with a slew of supply challenges and production constraints. The shares fell 2%.

Robinhood, the online brokerage that caters to retail investors, reported a third-quarter profit that beat Wall Street expectations but fell short on cryptocurrency revenue. The firm also announced that Chief Financial Officer Jason Warnick is leaving his role in the first quarter of 2026 and will be replaced by Shiv Verma. The shares dropped 2%.