Airbnb, Trump Media, Affirm fall premarket; Rivian, Lucid rise

Investing.com -- US stock futures edged higher Friday, continuing the post-election rally after Donald Trump won the US presidency and the Federal Reserve cut interest rates.

Here are some of the biggest premarket US stock movers today: Airbnb (NASDAQ:ABNB ) stock fell 5.1% after the online holiday rental platform saw profit fall in the third quarter, though revenue marginally exceeded expectations. Block (NYSE:SQ ) stock fell 2.9% after the fintech firm reported third-quarter revenue below expectations on Thursday, signaling softer consumer spending and overshadowing a profit beat that was powered by disciplined expense management. Rivian (NASDAQ:RIVN ) stock rose 1.2% after the EV manufacturer confirmed its road to profitability, despite a difficult environment of falling EV demand and parts shortages that are cutting into production. Taiwan Semiconductor Manufacturing (NYSE:TSM ) stock rose 1.4% after the world’s biggest contract chipmaker reported healthy sales in October, up 24.8% from the prior month and up 29.2% from October 2023. Akamai Technologies (NASDAQ:AKAM ) stock slumped 7.3% after the cloud computing company offered up tepid guidance in the wake of its third-quarter results. Trump Media & Technology (NASDAQ:DJT ) stock fell 3.4%, adding to the previous session’s 23% slump, putting it on course to end the week lower despite Trump’s election victory. Lucid Group (NASDAQ:LCID ) stock rose 5% after the electric carmaker beat third-quarter expectations, helped by cost cutting ahead of plans to begin consumer production of a new SUV by the end of this year. Affirm Holdings (NASDAQ:AFRM ) stock fell 5% despite the digital payment platform reporting better-than-expected fiscal first-quarter results, with the market wanting more.

Source: Investing.com