Airbnb, Trump Media, Affirm fall premarket;Rivian, Lucid rise

Investing.com — US stock futures edged higher Friday, continuing the post-election rally after Donald Trump won the US presidency and the Federal Reserve cut interest rates.

Here are some of the biggest premarket US stock movers today:

Airbnb (NASDAQ:ABNB) stock fell 5.1% after the online holiday rental platform saw profit fall in the third quarter, though revenue marginally exceeded expectations.

Block (NYSE:SQ) stock fell 2.9% after the fintech firm reported third-quarter revenue below expectations on Thursday, signaling softer consumer spending and overshadowing a profit beat that was powered by disciplined expense management.

Rivian (NASDAQ:RIVN) stock rose 1.2% after the EV manufacturer confirmed its road to profitability, despite a difficult environment of falling EV demand and parts shortages that are cutting into production.

Taiwan Semiconductor Manufacturing (NYSE:TSM) stock rose 1.4% after the world’s biggest contract chipmaker reported healthy sales in October, up 24.8% from the prior month and up 29.2% from October 2023.

Akamai Technologies (NASDAQ:AKAM) stock slumped 7.3% after the cloud computing company offered up tepid guidance in the wake of its third-quarter results.

Trump Media & Technology (NASDAQ:DJT) stock fell 3.4%, adding to the previous session’s 23% slump, putting it on course to end the week lower despite Trump’s election victory.

Lucid Group (NASDAQ:LCID) stock rose 5% after the electric carmaker beat third-quarter expectations, helped by cost cutting ahead of plans to begin consumer production of a new SUV by the end of this year.

Affirm Holdings (NASDAQ:AFRM) stock fell 5% despite the digital payment platform reporting better-than-expected fiscal first-quarter results, with the market wanting more.