Stock Market Today Live, October 29: Alphabet's Cash Shortfall Drags Nasdaq Futures Lower; Microsoft Rises
Nasdaq 100 futures were down about 1% at 5:18 a.m. ET Thursday, Reuters reported, after Google parent Alphabet showed slower search growth and spent more cash than it brought in. At 6:30 a.m. ET, StockTitan data show Alphabet 10.63% lower and Microsoft 2.69% higher in pre-market trading, while Reuters reported Dow futures up.
The short answer. Investors marked Alphabet down before the bell after it spent $9.1 billion more on property and equipment in its third quarter than it brought in, while Microsoft rose. Alphabet is still worth about $3.6 trillion after the drop on StockTitan’s figures, so its slide reaches anyone who owns a fund that tracks the big US indexes. By our count, 11 of the 22 companies on StockTitan’s 6:30 a.m. movers board had a release or filing of their own, and the tables give the biggest movers’ reasons.
Pre-market movers at 6:30 a.m. ET
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6:45 a.m. ET
Alphabet’s spending pulls Nasdaq futures lower as the Dow points up
The morning comes down to two tech giants that reported on Wednesday and got opposite answers from investors. Reuters reported that Nasdaq futures fell about 1% as Alphabet’s results “reignited concerns over mounting AI costs,” while Dow futures rose.
Alphabet said revenue from Google Search grew 12% from a year earlier, slower than in the quarter before, while Google Cloud revenue more than doubled. Its free cash flow was a negative $9.1 billion by Alphabet’s own measure. That means its spending on property and equipment took more cash than its businesses brought in (Alphabet’s results release; our Alphabet earnings article). It was the second quarter in a row below zero.
Microsoft went the other way. Reuters said it rose after what it called “a big cash-flow beat” and a forecast of strong cloud growth. By our calculation, its cash from operations exceeded its spending on property and equipment by $18.6 billion (Microsoft’s results; our Microsoft earnings article). That is the same yardstick Alphabet uses for its own free cash flow.
The deepest drop on StockTitan’s board belongs to Fortinet, down 26.36% in pre-market trading at 6:30 a.m. ET. It raised its 2026 sales forecast but cut its forecast for service revenue, the subscriptions and support customers pay for over time (release; our Fortinet article).
Biggest stock movers today and why
Half of the morning’s biggest movers on StockTitan’s alert board came with news of their own, mostly quarterly results. The other half moved with no release or filing on StockTitan, and most of those were falling.
Among the movers with news, Sprouts Farmers Market fell 23.95% after its same-store sales slipped and it forecast a steeper drop for the last three months of the year (release). Its chief executive blamed “a challenging consumer environment and the cyclospora disruption,” cyclospora being a parasite. Carvana rose 7.89% on record used car sales, and Iovance Biotherapeutics rose 9.59% ahead of a webcast on lung cancer trial results the company calls positive.
Haleon fell 15.40% with no company news found on StockTitan as of 6:30 a.m. ET. Five more of the ten biggest fallers in the table had no release or filing either, though Reuters reported a reason for one of them, Marvell.
| Company | Move | Why |
|---|---|---|
| Iovance Biotherapeutics (IOVA) | +9.59%, pre-market, 6:30 a.m. ET | Announced a webcast on what it calls positive results from Phase 2 registrational groups, the trial stage meant to support an approval filing, for its one-time TIL therapy, made from immune cells taken from a patient’s own tumor, in previously treated lung cancer (release). |
| Carvana (CVNA) | +7.89%, pre-market, 6:30 a.m. ET | Reported record third-quarter sales of 217,385 cars, up 39%, and revenue of $8.04 billion, up 42% (release). |
| Lumentum (LITE) | +5.37%, pre-market, 6:30 a.m. ET | No company news found on StockTitan as of 6:30 a.m. ET; Reuters tied the move to media reports that Marvell is in advanced talks to buy Lumentum. |
| Butterfly Network (BFLY) | +4.74%, pre-market, 6:30 a.m. ET | Reported third-quarter revenue of $32.6 million, above the top of its own forecast, and raised its full-year forecast (release). |
| Maplebear, the Instacart parent (CART) | +4.42%, pre-market, 6:30 a.m. ET | No company news found on StockTitan as of 6:30 a.m. ET. |
| Shell (SHEL) | +4.09%, pre-market, 6:30 a.m. ET | Started a $5 billion share buyback over about three months, announced with its third-quarter results (release). |
| Magnum Ice Cream (MICC) | +3.68%, pre-market, 6:30 a.m. ET | Raised its full-year outlook for organic sales growth to about 5.5%, from 3% to 5%, a measure that leaves out acquisitions and currency swings (trading update). |
| Microsoft (MSFT) | +2.69%, pre-market, 6:30 a.m. ET | Reported fiscal first-quarter results in which Azure, its cloud business, grew 48%, with or without exchange-rate swings (results). |
| Company | Move | Why |
|---|---|---|
| Fortinet (FTNT) | -26.36%, pre-market, 6:30 a.m. ET | Raised its 2026 revenue forecast and cut its forecast for service revenue (release). |
| Sprouts Farmers Market (SFM) | -23.95%, pre-market, 6:30 a.m. ET | Reported comparable store sales down 0.9% and forecast a fourth-quarter decline of 2% to 4% (release). |
| Haleon (HLN) | -15.40%, pre-market, 6:30 a.m. ET | No company news found on StockTitan as of 6:30 a.m. ET. |
| Marvell Technology (MRVL) | -11.38%, pre-market, 6:30 a.m. ET | No company news found on StockTitan as of 6:30 a.m. ET; Reuters tied the drop to media reports that Marvell is in advanced talks to buy Lumentum. |
| Alphabet (GOOGL) | -10.63%, pre-market, 6:30 a.m. ET (GOOG -10.44%) | Reported Google Search growth of 12%, down from 17% the quarter before, and a negative free cash flow of $9.1 billion (release; second-quarter release). |
| Braiin (BRAI) | -10.00%, pre-market, 6:30 a.m. ET | Filed a report on Wednesday evening on the launch of an AI product for call centers; it gives no reason for the drop (filing). |
| Nebius Group (NBIS) | -6.55%, pre-market, 6:30 a.m. ET | No company news found on StockTitan as of 6:30 a.m. ET. |
| CoreWeave (CRWV) | -6.38%, pre-market, 6:30 a.m. ET | No company news found on StockTitan as of 6:30 a.m. ET. |
| CrowdStrike (CRWD) | -6.25%, pre-market, 6:30 a.m. ET | No company news found on StockTitan as of 6:30 a.m. ET. |
| AXT (AXTI) | -5.87%, pre-market, 6:30 a.m. ET | No company news found on StockTitan as of 6:30 a.m. ET. |
Source: StockTitan live movers board, 6:30 a.m. ET on October 29, 2026, pre-market trades against the October 28 close. Each reason comes from the company’s own release or filing, or from Reuters where named. The board shows only stocks whose moves set off its alerts, so many large companies are not on it.
Why is Marvell stock down today
Reuters reported that Marvell fell and Lumentum rose before the bell after media reports that Marvell is in advanced talks to buy Lumentum. Marvell had not confirmed the talks in a release or filing on StockTitan as of 6:30 a.m. ET, and neither had Lumentum.
Marvell traded 11.38% lower and Lumentum 5.37% higher in pre-market trading at 6:30 a.m. ET, StockTitan data show.
What to watch for the rest of the day
Two government reports and Iovance’s trial results come at 8:30 a.m. ET, then results from Mastercard and Eli Lilly in the morning, and from Intel, Sandisk and Amazon after the close.
- 8:30 a.m. ET: the first estimate of third-quarter GDP, the broadest measure of the economy’s growth, and September’s personal income and spending report, which carries PCE inflation (BEA release schedule). Our previews cover what the GDP report and the PCE inflation report are expected to show.
- 8:30 a.m. ET: Iovance’s webcast on its lung cancer trial results (announcement).
- Morning: Mastercard releases its third-quarter results, with a call at 9:00 a.m. ET (announcement), and Eli Lilly releases its third-quarter results, with a call at 10 a.m. ET (announcement).
- After the close: Intel releases its third-quarter results “promptly after close of market” (announcement), Sandisk its fiscal first-quarter results, with a call at 4:30 p.m. ET (announcement), and Amazon its third-quarter results, with a call at 5:00 p.m. ET (announcement).
- Any day: whether Marvell or Lumentum confirms the reported talks, which would come in a company release or an 8-K filing, the form US companies use to report major events; no date is set.
Our numbers
- 11 of 22: the companies on StockTitan’s live movers board at 6:30 a.m. ET with a release or SEC filing of their own since Wednesday’s close, with Alphabet’s two share classes counted once.
- $18.6 billion: Microsoft’s $58.0 billion of cash from operations in its fiscal first quarter, less $39.4 billion of additions to property and equipment, both from its results release.
Frequently asked questions
What is moving the stock market today?
Big tech results are moving it. Nasdaq 100 futures were down 1.01% and Dow futures up 0.51% at 5:18 a.m. ET, Reuters reported, after Alphabet’s report revived worries about the cost of AI. At 6:30 a.m. ET Alphabet was down 10.63% and Microsoft up 2.69% in pre-market trading, and GDP and PCE inflation data arrive at 8:30 a.m. ET.
Why is Alphabet (GOOGL) stock down today?
Alphabet was down 10.63% in pre-market trading at 6:30 a.m. ET after its third-quarter results. Google Search revenue grew 12%, slower than the 17% of the quarter before. Spending on property and equipment reached $51.4 billion, leaving a negative free cash flow of $9.1 billion by Alphabet’s own measure.
Why is Fortinet (FTNT) stock down today?
Fortinet was down 26.36% in pre-market trading at 6:30 a.m. ET after its third-quarter results. The company raised its 2026 revenue forecast, but it cut its forecast for service revenue, the subscriptions and support customers pay for over time.
Why is Sprouts Farmers Market (SFM) stock down today?
Sprouts was down 23.95% in pre-market trading at 6:30 a.m. ET. Its third-quarter comparable store sales fell 0.9%, and it forecast a decline of 2% to 4% for the fourth quarter.
Why is Marvell (MRVL) stock down today?
Marvell was down 11.38% in pre-market trading at 6:30 a.m. ET. Reuters tied the drop to media reports that Marvell is in advanced talks to buy Lumentum. Marvell had not confirmed the talks in a release or filing on StockTitan by then.
Why is Microsoft (MSFT) stock up today?
Microsoft was up 2.69% in pre-market trading at 6:30 a.m. ET after its fiscal first-quarter results. Azure, its cloud business, grew 48%, and Reuters said the stock rose after “a big cash-flow beat” and a forecast of strong cloud growth.
Why is Iovance (IOVA) stock up today?
Iovance was up 9.59% in pre-market trading at 6:30 a.m. ET. On Wednesday evening it announced an 8:30 a.m. ET webcast on what it calls positive results for its one-time TIL therapy, made from immune cells taken from a patient’s own tumor, in previously treated lung cancer.
Why is Carvana (CVNA) stock up today?
Carvana was up 7.89% in pre-market trading at 6:30 a.m. ET after record third-quarter results. It sold 217,385 cars, up 39% from a year earlier, and revenue rose 42% to $8.04 billion.
Sources
- StockTitan: Alphabet third-quarter 2026 earnings (October 28, 2026)
- StockTitan: Microsoft fiscal first-quarter 2027 earnings (October 28, 2026)
- StockTitan: Fortinet third-quarter 2026 earnings (October 28, 2026)
- StockTitan: Stock market today, October 28, 2026
- Fortinet third-quarter 2026 results (October 28, 2026)
- Sprouts Farmers Market third-quarter 2026 results (October 28, 2026)
- Carvana third-quarter 2026 results (October 28, 2026)
- Microsoft earnings release notice (October 28, 2026)
- Iovance webcast announcement (October 28, 2026)
- Butterfly Network third-quarter 2026 results (October 29, 2026)
- Shell share buyback announcement (October 29, 2026)
- Magnum Ice Cream third-quarter 2026 trading update (October 29, 2026)
- Braiin report on Form 6-K (October 28, 2026)
- Alphabet third-quarter 2026 results release, SEC exhibit 99.1 (October 28, 2026)
- Alphabet second-quarter 2026 results release, SEC exhibit 99.1 (second quarter of 2026)
- Microsoft fiscal 2027 first-quarter results (October 28, 2026)
- Fortinet third-quarter 2026 results, investor site (October 28, 2026)
- Bureau of Economic Analysis release schedule
The information provided in this article is for educational and informational purposes only. It does not constitute financial advice, investment recommendation, or an endorsement of any particular investment strategy. Past performance does not guarantee future results. Investors should conduct their own research and consult with a qualified financial advisor before making investment decisions.