NOW Down, EBAY Up: Upside, Downside Movers in the Morning

Upside

– $GKOS +16% (record Q3 sales and a large FY revenue-guidance raise topped expectations)

– $INSM +14% (BRINSUPRI revenue grew 29% sequentially and guidance was raised for both BRINSUPRI and ARIKAYCE)

– $NCLH +12% (Q3 results topped guidance and the FY EBITDA and EPS outlooks were raised)

– $CVNA +8.4% (large Q3 revenue beat and accelerating retail-unit growth outweighed an EPS miss)

– $CMG +8.3% (Q3 comparable sales beat expectations despite a modest profit miss)

– $DASH +6.9% (record GOV, revenue and net income alongside an agreed $17B acquisition of CART)

– $LITE +6.9% (MRVL is reportedly in advanced acquisition talks, with a deal potentially announced next week)

– $EBAY +6.1% (Q3 revenue and GMV growth accelerated, reinforcing improving marketplace momentum)

– $HII +5.6% (record Q3 revenue, $32.4B of contract awards and higher FY shipbuilding-revenue guidance)

– $LLY +5.1% (annual revenue guidance topped expectations)

– $NVS +3.2% (2026 core operating-income guidance was raised despite a drug-trial write-down)

– $RCL +3.5%, CCL +3.0% (cruise names rise after NCLH beat and raised its FY outlook)

– $MSFT +1.1% (strong cash flow and cloud guidance signaled better returns from heavy AI investment)

Downside

– FTNT -27% (headline beat and raised guidance failed to offset sharply slowing product growth and concerns the refresh cycle is fading)

– NOW -19% (strong topline results were overshadowed by softer forward cRPO expectations and unfavorable renewal phasing)

– HLN -14% (Q3 organic sales missed and FY organic-growth guidance was cut to around 2.5%)

– OSK -13% (quarter missed and FY revenue and EPS guidance were cut as fire-truck production problems persisted)

– MRVL -12% (reported talks to acquire LITE sparked concerns over deal cost and execution risk)

– $CAT -11% (quarter beat, but the margin outlook and durability of AI-infrastructure demand fell short of elevated expectations)

– $GOOGL -11% (Q3 profit and revenue missed as softer search advertising and surging AI spending intensified cash-burn concerns)

– $EGO -10% (2026 gold-production guidance was cut and cost outlooks were raised amid a slower Skouries ramp)

– $CTSH -10% (Q3 beat, but the FY revenue-growth outlook narrowed and Q4 growth guidance disappointed)

– $SCI -8.9% (Q3 earnings missed and guidance was cut)

– $ZS -7.1%, $OKTA -7.5%, $PANW -6.8%, $RBRK -6.8%, $CRWD -6.8%, $SAIL -8.0% (cybersecurity names fall on FTNT’s product-growth slowdown and refresh-cycle concerns)

– $NBIS -6.7%, $CRWV -6.4%, $STRL -6.6% (AI-infrastructure names retreat as $GOOGL’s spending surge renews concerns about monetization and cash returns)

– $HUBS -6.5%, $TEAM -6.9%, $CRM -5.8%, $TYL -5.8%, $WDAY -6.1% (enterprise-software names weaken after NOW’s forward cRPO and renewal outlook disappointed)

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Posted by Doug Kass

Doug Kass is a world-renowned hedge fund manager with decades of experience and success navigating through some of the most turbulent periods in market history. He is known for his time-tested analytical skills and ability to look past the current noise and herd mentality. On TheStreet Pro, Kass provides frequent market commentary and investing ideas for active investors throughout each trading day in Doug’s Daily Diary. He also serves as president of Seabreeze Partners Management Inc. Previously, he served as a senior manager at Omega Advisors, a $6 billion investment partnership. He co-authored a book with Ralph Nader and the Center for the Study of Responsive Law called “Citibank: The Ralph Nader Report” and can be found as a guest host on CNBC's "Squawk Box." A Note from Doug: Current strategies and actionable trade ideas -- all on one dynamic platform built exclusively for active trades. From sudden sell-offs to sudden spikes, TheStreet Pro arms you with crucial analysis -- at a rapid fire, professional pace -- to help you make sound trading decisions -- every day, every hour, and every minute. Join me and my team of professional traders for unique perspectives and breakthrough investment opportunities.

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