Premarket movers: Intel, Amazon drop; Crypto stocks slide after Binance theft
U.S. stock futures fell sharply, with Nasdaq 100 futures down 2.16% due to concerns over AI infrastructure costs. Intel shares dropped 25% after warning of cash burn and weak revenue forecasts. Amazon shares fell 6.5% on lower sales expectations and high AI investment costs. Crypto stocks declined following a $6.36B theft from Binance. Reddit shares plunged 23% despite beating earnings, due to weaker revenue outlook. Twilio shares tumbled 17.5% on weaker revenue growth outlook.
How this was made
The 30-second read
Why it matters
The article delivers fresh guidance cuts for several large caps and a sector‑wide crypto shock, prompting immediate price moves.
Market read
Multiple large‑cap earnings guidance cuts and a major crypto theft create a bearish backdrop for tech and crypto‑related equities in the pre‑market session.
What to watch
Potential for Intel to benefit from upcoming product launches later in the year despite short‑term cash‑burn concerns.
Background
Futures indicated a sharp sell‑off in Nasdaq 100 futures as AI‑related cost concerns and a major Binance theft weighed on tech and crypto stocks.
Ticker impact
Intel warned it will burn cash this year and forecast Q4 revenue below expectations, causing a 25% pre‑market plunge.
likely continued pressure as the market digests the cash‑burn guidance.
Guidance cut and cash‑burn warning are fresh, material facts that moved the stock 25% pre‑market.
Amazon forecast holiday‑quarter sales below expectations, sending the stock down 6.5% pre‑market.
downward pressure likely to persist through the trading day.
First‑report of a sales guidance miss for a mega‑cap, driving a notable price move.
Twilio issued a weaker Q4 organic revenue outlook, causing a 17.5% pre‑market tumble.
likely continued sell‑off as the market absorbs the guidance cut.
First disclosure of the guidance cut, driving a large price move.
Roblox reported a decline in daily active users and a weaker bookings outlook, sending the stock down 19.1% pre‑market.
downward pressure likely to stay as the user trend concerns linger.
Fresh user‑base contraction and guidance miss moved the stock sharply.
Mondelez posted better‑than‑expected Q3 earnings, lifting the stock 6.1% pre‑market.
potential modest upside as investors reward the earnings beat.
Earnings beat is fresh but the move is moderate.
Rivian beat Q3 expectations and raised its 2026 delivery forecast, sending the stock up 7.2% pre‑market.
likely modest upside as the market digests the improved outlook.
Earnings beat and guidance raise are fresh, driving a moderate move.
Coinbase fell 5.2% after a $6.36 bn Binance theft was reported, hurting crypto‑related stocks.
downward pressure likely as the sector reacts to the theft news.
Sector‑wide reaction to a major theft is fresh and moves the stock.
Riot Platforms slid 5.3% following the Binance theft report.
continued weakness expected as investors reassess risk.
Direct impact from the theft news on a crypto‑related stock.
Market effects
Technology sector faces heightened scrutiny on AI spend and cash‑burn; crypto sector sees broad sell‑off after major theft.
U.S. equity futures fell sharply, reflecting the negative sentiment across both tech and crypto‑related stocks.
The Binance theft reverberates globally, pressuring crypto‑linked equities worldwide.
Counterpoint
Investors could view the pull‑back in AI spending as a buying opportunity for undervalued chip makers with long‑term demand.
Key entities
- CompanyIntel
Chipmaker warning of cash burn and revenue miss.
- CompanyAmazon
E‑commerce/Cloud giant missing sales outlook.
- Crypto ExchangeBinance
Source of $6.36 bn theft triggering crypto‑stock sell‑off.
