Premarket Movers | Optical Communications Stocks Advance, With AAOI Up 6%, AXTI, LITE, COHR Up 4%, GLW Up 3%

TradingKey - SpaceX (SPCX) announced an agreement with investment firm Grain Management to acquire its portfolio of nationwide 800MHz low-band spectrum licenses for approximately $8 billion in cash. Following the announcement, SpaceX shares rose about 2.3% in after-hours trading to $164.30, while shares of AT&T (T), Verizon (VZ), and T-Mobile US (TMUS) all fell by more than 6%.

TradingKey - On October 8, Eastern Time, the three major U.S. stock indices posted mixed results. A decline in tech stocks dragged down the S&P 500 and the Nasdaq Composite, causing them to close lower for the second consecutive trading day, while the Dow Jones Industrial Average rose slightly.

OpenAI's annualized revenue came in $20 billion lower than previously reported, dampening market trading sentiment as US stocks ended mixed. Tech and AI hardware stocks faced a sell-off. At the close, the Dow Jones Industrial Average rose 0.10% to 51,231.64 points, the Nasdaq Composite Index fell 1.25% to 27,193.34 points, and the S&P 500 Index dropped 0.47% to 7,765.36 points.

TradingKey - On Thursday (October 8) Eastern Time, soaring oil prices and rising US Treasury yields combined to weigh on risk appetite, sending futures on the three major US stock indices down across the board in pre-market trading. However, analyst ratings, energy prices, and corporate earnings continued to drive clear divergence among individual stocks.

TradingKey - On October 8, TSMC (TSM) released its latest revenue data. Driven by continued growth in demand for AI-related chips, the company's revenue for the third quarter of 2026 reached an all-time high, exceeding prior market expectations.