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