2026-02-06 14:11:00
The mood in markets is improving prior to the US open with S&P 500 futures up 0.5%. That’s a turnaround from earlier losses and may reflect a re-evaluation on the disruption to software and AI capex.
Here are some pre-market movers:
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AMZN (-8.9%): Amazon shares tumbled after the company missed profit expectations and alarmed investors with a massive $200 billion capital expenditure forecast for 2026, driven by aggressive investment in AI infrastructure.
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AAPL flat following reports that it is scaling back its “Mulberry” initiative, an AI-based virtual health coach, in favor of rolling out individual wellness features within the Health app over time.
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HIMS (-6.7%): Hims & Hers Health saw a sharp decline after FDA Commissioner Marty Makary issued a stern warning that the agency will take swift action against companies mass-marketing “illegal copycat drugs.” Yesterday it spiked higher after saying it was offering Novo-Nordisk’s weight loss pill at a discount.
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STLA (-27%): Stellantis is set for its worst trading day ever after announcing a massive €22.2 billion charge to reset its business strategy amid a slower-than-expected transition to electric vehicles.
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MOH (-28%): Molina Healthcare shares cratered after the company issued a dismal 2026 profit outlook and announced it would exit the Medicare Advantage prescription drug market for 2027.
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RBLX (+7.8%): Roblox surged after reporting fourth-quarter results that topped estimates and providing a strong full-year bookings outlook that exceeded analyst expectations.
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RDDT (+6.4%): Reddit stock jumped significantly as the platform’s top and bottom-line results surpassed forecasts, bolstered by AI-enhanced advertising tools.
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COTY (-12.7%): Coty shares dropped double digits after the company missed earnings estimates, withdrew its 2026 guidance, and warned of a challenging beauty market backdrop.
Other Mag7 names are also on the comeback trail:
- NVDA +3.1%
- TSLA +1.2%
- MSFT +1.8%
- GOOG -0.6%
- META -0.3%
Another one I noticed is Blue Owl, which is a private equity firm that’s been painting as being heavily exposed to software.The CEO was on CNBC today downplaying the exposure and duration of the loans, noting that they were largely for 3-year terms. He also said that loans were against 30% of the value of the companies so there’s a margin of safety. Shares are up 6.6% and the whole private equity space has been under pressure on worries about software loans, so that could get a relief.
This article was written by Adam Button at investinglive.com.
