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Tech Rally Meets Gaming Slump in Mixed Market

Wall Street Journal Markets •
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Apple shares jumped more than 3% in premarket trading after the tech giant reported soaring iPhone revenue driven by continued customer upgrades. Roblox plunged over 20% premarket after cutting its full-year guidance, citing costs from safety feature improvements that weighed on quarterly results.

Western Digital and Sandisk both posted higher third-quarter profits on ravenous demand for data storage products, yet both stocks fell premarket following earlier-year surges. Reddit shares surged after the social-media company reported double-digit ad revenue growth that boosted sales and profits. Clorox dropped after cutting its full-year earnings guidance due to increased costs from acquiring Purell maker Gojo.

Rivian plans to increase initial production capacity for its Georgia plant by 50% while posting higher revenue, but shares still slipped premarket. The U.S. will remove tariffs on UK whisky, a win for drinks giant Diageo and Artisanal Spirits, whose shares both ticked up on the news.