Premarket Movers | SoundHound AI Surges 24%; SanDisk Falls 9%; Duolingo Drops 11%; Western Digital Sinks 14%; AppLovin Plunges 15%

SoundHound AI shares jumped 23.8% as the voice artificial intelligence company reported second-quarter results and guidance that topped Wall Street's forecast.

Aeva Technologies reported a smaller-than-expected loss in Q2 2026 and slightly higher revenue, then sent shares higher 17.3% as investors digested a new push into optical connectivity for AI data centers. The company posted an adjusted loss of $0.41 a share, better than the $0.43 loss analysts expected, while revenue rose to $6.1 million versus the $6.03 million forecast.

Redwire stock gained 7.9% after the space and defense technology company posted record second-quarter (Q2) revenue, improved margins and reaffirmed its 2026 outlook.

Clover Health beat Wall Street’s expectations in the second quarter of 2026, reporting adjusted earnings of 5 cents a share on revenue of $743.2 million. Analysts had expected 4 cents a share on revenue of $728.27 million. The company also raised its full-year outlook, and the stock rose 6.5%.

Chime Financial raised its full-year revenue growth forecast above Wall Street estimates on ​strong demand for its digital banking products, and announced the departure of ‌longtime Chief Financial Officer Matt Newcomb. Shares of the company were last up 5.8%.

MercadoLibre shares slid 4.5% as analysts worried about the e-commerce giant’s spending plans despite it reporting sales and profits that beat consensus estimates in the second quarter.

Fastly shares fell 7.1% despite the company’s strong results and raised fiscal guidance.

Klaviyo reported second quarter results that beat revenue expectations but disappointed investors with cautious near-term guidance, sending shares down 7.7%.

SanDisk shares declined 8.9% after the memory-chip maker’s guidance for the September quarter missed Wall Street’s high expectations.

Zillow shares tumbled 9.5% despite second-quarter earnings exceeding expectations as the real estate services provider announced job cuts and a softer-than-expected revenue outlook.

Dutch Bros reported second quarter results that exceeded analyst expectations, yet shares tumbled 10.2% as investors appeared to sell the news and focus on costs related to the acquisition of 65 Salad and Go locations. 

Duolingo shares sank 10.5% after the company’s conservative revenue outlook for the current quarter overshadowed user growth.

Sunrun highlighted positive cash generation and record storage adoption while simultaneously reducing its full-year outlook. The mixed message triggered a sharp selloff, with shares falling 11.3%.

Western Digital forecast quarterly revenue slightly above Wall Street estimates, betting on strong ​AI-driven demand for its hard disk drives. Still, its ‌shares dropped 13.5%, after the forecast failed to impress investors even though the ​stock has tripled this year on expectations of ​sustained AI-driven growth.

AppLovin shares plunged 15% after delivering second-quarter results that proved sky-high profit growth isn’t always enough for Wall Street. Despite surging year-over-year earnings, the marketing software titan missed sales targets and issued a lukewarm forecast for the quarter ahead.

Figma reported a sharp rise in costs and a decline in profit margins as the ​design software company ramps up AI investments, triggering a 16% slump in ‌its shares, despite a rosy annual revenue forecast.

Fluence Energy reported third-quarter results that fell short of analyst expectations, with revenue and earnings missing estimates as production delays weighed on performance. The company also slashed its full-year guidance, sending shares down 19.8%.

HubSpot reported second quarter results that exceeded analyst expectations, but shares tumbled 22.9% as the company’s full-year revenue guidance fell short of Wall Street estimates.