Multiple Stocks Move in U.S. Pre-Market: Palantir Falls Nearly 8%, Apple Drops Over 4%
nashnova research
Election Day — what is the market nervous about?
The US midterm election began voting on November 3, with all 435 House seats, roughly a third of the Senate, and multiple governorships on the ballot.
A record 50 million people had already voted early as of October 31. Polls suggest Democrats may retake the House; the Senate remains a toss-up.
Dow futures fell 0.90%, S&P 500 futures dipped 0.16%, Nasdaq futures edged up 0.09%; major European indices dropped over 0.7%.
This means → capital is sitting on the sidelines until the outcome clears. Analysts expect some risk-asset inflows once results are known.
Palantir nearly doubled revenue — so why did it fall?
Q3 revenue hit $2.313 billion, up 96% year-over-year, crossing $2 billion for the first time. Net income reached $1.128 billion, more than doubling.
The standout: US commercial revenue surged 148% to $984 million, overtaking US government revenue ($953 million) for the first time ever. This means → enterprise AI demand has exploded; Palantir is no longer just a government contractor.
But Q4 sequential growth is guided at roughly 15%, down from 20% last quarter. After beating estimates for ten straight quarters, a "sell the news" reaction set in.
In plain terms = the numbers are genuinely strong, but the stock had already priced that in. The moment growth slows, a stretched valuation has no cushion. Shares fell nearly 8% pre-market.
Where did Apple disappoint?
Fiscal Q4 revenue was $114.477 billion, up 11.7% YoY. iPhone revenue of $57.58 billion (+17.5%) and Mac revenue of $10.79 billion (+23.7%) were bright spots.
Two drags: iPad revenue of $6.23 billion (−10.4%) missed estimates, and Services revenue of $31.57 billion, while a record, grew below 10% for the first time.
Greater China revenue came in at $17.539 billion, up 21% but below the Street's $18.75 billion estimate. This means → China's recovery is weaker than Wall Street assumed.
The real damage was forward guidance: next-quarter gross margin guided at 45%–46%, below consensus. Shares fell over 4% pre-market.
Pfizer beat on both lines — why didn't the stock move?
Q3 adjusted EPS was $0.87, above the $0.73 LSEG consensus. Revenue was $16.58 billion, above the $15.87 billion estimate.
Despite the double beat, shares were flat pre-market. This reflects a market that has become desensitized to Pfizer "beats" — several quarters of back-and-forth have exhausted the surprise premium.
Other movers — who rose and who fell?
Revvity rose 7% pre-market after raising full-year adjusted EPS guidance to $5.40–$5.45 (from $5.30–$5.40). A guidance raise was one of the few moves the market rewarded today.
Zebra Technologies fell over 6%: Q3 results beat — adjusted EPS $4.95 vs. $4.89 expected, revenue $1.61 billion vs. $1.57 billion — but full-year free-cash-flow guidance of "at least $1 billion" came in just short of the $1.02 billion consensus. In plain terms = earnings beat, but the cash-conversion piece fell slightly short, and that was enough to trigger selling.
Gartner fell over 6% despite beating on both Q3 results and full-year guidance; investors chose to take profits. Yum Brands rose about 1% with adjusted EPS of $1.56 (vs. $1.49 expected) and revenue of $2.05 billion in line; the company said Taco Bell had bounced back from an earlier cyclospora outbreak linked to iceberg lettuce.
What does today's pre-market split tell us?
Multiple high-valuation stocks that beat estimates were sold off, while Revvity — which raised guidance — bucked the trend.
This means → under Election Day risk-off sentiment, the market is discounting "good news already priced in" more harshly. The "sell the news" effect is amplified.
In plain terms = the problem today is not bad earnings. The problem is that the good news was already in the price — and with election uncertainty on top, money chose to leave first.
市场有风险，内容仅供研究参考，不构成投资建议。