US PRE-MARKET MOVERS: GOOGL, MSFT, QCOM, ARM, ALGN, SNAP, TPR, HSY, CI, SHEL, FMC, EL

ES -0.1% NQ -0.2% RTY flat

GOOGL -3.5%: Hiked 2026 capex plans, reviving investor concerns re. scale & payback of AI investment plans; note, EPS, rev., Cloud rev. topped
MSFT -1.3%: Downgraded at Stifel as sees 2027 estimates as too optimistic
QCOM -12.5%: Weak next Q outlook as mgmt. warned that a global memory shortage would weigh on near-term guidance
ARM -8%: Licensing rev. light; guidance only slightly topped & weak outlook from key customer QCOM heightened concerns around smartphone exposure amid memory shortages
ALGN +11%: Top & bottom line surpassed exp.
SNAP +6%: Surprise profit per shr., rev. beat & announced $500mln share buyback
TPR +5.5%: Q metrics impressed
HSY +2%: Strong Q4 metrics w/ impressive 2026 EPS guide
CI +1.2%: EPS, rev. topped & lifted div. 3.3%
SHEL -1.5%: Missed profit exp. as lower crude prices, weak oil trading & a struggling chemicals business offset slightly higher output
FMC -5.5%: Rev. missed, - 12% Y/Y w/ weak next Q & FY outlook
EL -11.5%: Top line fell marginally short