US PRE-MARKET MOVERS: NVDA, CRM, CRWD, HPQ, OKTA, WEN, DG

Pre-market roundups of this kind cluster around earnings and guidance, and the pattern here is the familiar one: the magnitude of the moves reflects guidance more than the prints, with the AI-levered software names rallying on outlook and recurring revenue commentary while the hardware name sells off on cost pressure despite headline beats. That split, margin and input-cost squeeze versus demand-driven top-line strength, is the distinction that has separated winners from losers in recent reporting seasons, and the down moves tied to rising memory and commodity costs follow the established hardware playbook of margin transmission lagging revenue. The non-earnings item, an activist fund stepping back from a take-private, unwinds the speculative premium that accumulates when an activist stake is first disclosed, a sequence that has recurred whenever bid hopes embedded in the price are denied rather than acted on. The broader index signal is modest by comparison, which is typical when single-stock catalysts dominate and breadth is narrow. Follow-ons worth noting are how much of the gap holds into the cash open, whether analysts' revisions track the guidance or fade it, and peer sympathy moves within software and PC supply chains.