Stocks making the biggest moves premarket: Reddit, Applied Materials, Sandisk, Wayfair & more
Premarket movers included Reddit, up 12% after S&P Dow Jones Indices said it will join the S&P 500 on Aug. 18. Applied Materials fell over 5% after Q2 results: adjusted $3.50 EPS on $9.12B revenue, with $7.04B from semiconductor systems. Wayfair rose 4% on a Bernstein upgrade. Workday gained ~2% after Reuters reported Silver Lake talks. Fox rose 2% on JPMorgan and Wells Fargo upgrades tied to Roku acquisition for $22B. Sandisk climbed 5% on a JPMorgan upgrade to overweight.
How this was made
The 30-second read
Why it matters
The most tradable catalysts are RDDT’s S&P 500 effective date, AMAT’s earnings disappointment with consensus comparison, and WORK’s reported acquisition talks. Analyst upgrades (W, SNDK, FOX) provide additional near-term sentiment support.
Market read
Premarket price action is driven by index mechanics, earnings disappointment, and deal/upgrade catalysts that can move liquidity and positioning immediately.
What to watch
For WORK, talks do not confirm deal terms or probability; for AMAT, the article shows only slight sales outperformance versus consensus, so guidance quality and forward demand are the key missing pieces.
Background
This is a multi-stock premarket movers roundup citing S&P 500 inclusion, earnings reaction, analyst upgrades, and reported M&A talks.
Ticker impact
Reddit surged 12% premarket after S&P Dow Jones Indices said it will join the S&P 500 starting Aug. 18.
Likely supportive into the Aug. 18 inclusion window, with potential fade after initial rebalancing effects.
The article cites a specific S&P 500 inclusion start date, a concrete catalyst for passive/benchmark demand.
Applied Materials shares fell more than 5% premarket after Q2 results failed to impress investors.
Near-term downside risk as traders reprice the semiconductor equipment demand outlook.
The text provides adjusted EPS and revenue plus a key division sales figure versus consensus, indicating a miss on the margin.
Wayfair gained 4% premarket after Bernstein upgraded the stock to outperform from market perform.
Supportive for the session and possibly the following days if the thesis gains traction.
The article includes the upgrade direction and a concrete argument about high single-digit US revenue growth despite a non-growing furniture market.
Fox Corporation gained 2% premarket as JPMorgan and Wells Fargo upgrades cited momentum in Roku, which Fox is acquiring for $22 billion.
Mild-to-moderate support near term, contingent on deal execution and Roku performance.
The article links upgrades to Roku momentum but does not provide new deal terms or new Roku-specific data.
SanDisk climbed 5% premarket after a JPMorgan analyst upgraded it to overweight from neutral.
Likely continued support while traders focus on the 'new business model' margin reset narrative.
The article quotes the analyst’s specific long-term agreement rationale for structurally higher margins and reduced cyclicality.
Market effects
Semiconductor equipment weakness (AMAT) versus memory/upgrade strength (SNDK) highlights divergent read-throughs within semis.
No explicit regional macro linkage beyond US index inclusion (RDDT).
M&A speculation (WORK) can spill over to broader software/enterprise-apps risk appetite.
Counterpoint
Index inclusion (RDDT) and upgrades (W, SNDK) may already be partially priced, while AMAT’s move could reflect transient quarter-to-quarter noise.
Key entities
- equityReddit
S&P 500 inclusion starting Aug. 18 cited as the reason for a 12% premarket surge.
- equityApplied Materials
Q2 results reaction cited, with adjusted EPS and division sales versus consensus.
- equityWayfair
Bernstein upgrade to outperform cited alongside a US growth thesis.
- equityWorkday
Reuters report of Silver Lake talks to buy the company cited as the catalyst.
- equityFox Corporation
Upgrades from JPMorgan and Wells Fargo tied to Roku momentum and Fox’s $22B Roku acquisition.
