US PRE-MARKET MOVERS: CDNS, GLW, SOFI, NVDA/META, PYPL, SPGI, WHR, RCL, SHW, UPS, JCI, BA, AVGO, MRNA

ES +0.3% NQ +0.4% RTY +0.4%

• CDNS +1.5%: Q3 numbers beat & raised FY26 outlook
• GLW +1.5%: Solid report; headline numbers topped as did next Q guidance
• SOFI +10%: Q nos. & FY26 guidance impressed
• NVDA said it plans to invest $3bln in META's equity offering
• PYPL -1.7%: Top line missed
• SPGI +4%: EPS & rev. topped alongside lifting FY view
• WHR -6%: Dismal report; surprise loss per shr., rev. missed & cut FY outlook
• RCL +4.5%: Profit beat & lifted FY view
• SHW -4.7%: Bottom line underwhelm & midpoint of FY outlook fell short of Wall St. exp.
• UPS +1.5%: Q metrics surpassed & lifted FY guidance
• JCI +4%: Strong earnings w/ stellar outlook
• BA +0.8%: Deeper loss per shr. than exp, but rev. & adj. FCF topped
• AVGO +2.4%: Upgraded at DA Davidson
• MRNA -3%: Downgraded at William Blair

This is the standard pre-market movers slate on a heavy US earnings day, with index futures modestly firmer and single-name moves dominated by guidance rather than headline prints. The recurring pattern across this tape is that the FY outlook, not the quarter, is setting the gap: names guiding up (CDNS, GLW, SPGI, RCL, UPS, JCI, SOFI) are bid regardless of the in-quarter mix, while misses on the forward view (WHR, SHW) are being hit harder than the underlying results would alone justify, the classic asymmetry of reporting season. Sector-wise the moves are internally consistent, with industrials and transports (UPS, JCI, BA) leaning positive on cost and cash-flow commentary while housing-exposed consumer durables and chemicals (WHR, SHW) trade heavy, a split that has tended to persist through the session when it reflects genuine end-demand divergence rather than positioning. The NVDA investment in META's equity offering is a strategic item rather than an earnings one, and such supplier-to-customer equity ties have historically drawn follow-on scrutiny of circularity in AI capex funding rather than immediate fundamental read-through. Analyst actions (AVGO upgrade, MRNA downgrade) typically fade fastest of the cohort unless echoed by the wider sell-side. The tells for the cash session are whether the guidance-driven gaps hold through the open, whether conference-call commentary confirms or qualifies the printed outlooks, and how the WHR/SHW consumer and housing signal reads across the peer set still to report.