Morning Intelligence·Thursday, November 5, 2026

Qualcomm is down 11.8% premarket after its quarterly results

Qualcomm reported quarterly results after Wednesday's close and is down 11.8% premarket; GAAP operating income fell 53.5% year over year to $1.36 billion.

Data through: 8:15 AM ET
Market data as of: 8:15 AM ET
Published: Nov 5, 2026, 8:15 AM ET
By: Blockhaven Research

In this edition

Opening read
Overnight tape
Movers that matter
Earnings radar
What we're watching
Blockhaven Macro
Market context
Data note
Sources

Opening read

Qualcomm shares are down 11.8% premarket after the company reported quarterly results after Wednesday's close.

GAAP operating income fell 53.5% year over year to $1.36 billion. SPY is up 0.06% and QQQ down 0.9% at 8:15 AM ET. QQQ is behind SPY by 0.9 points (−0.9% against +0.06%). The first test is whether Qualcomm stays below Wednesday's $173.19 close once regular trading begins.

Overnight / pre-market tape

At 8:15 AM ET, SPY is up 0.06% and QQQ is down 0.9% versus the prior close. The 10-year Treasury yield fell 5 bp to 4.90% on Wednesday, the VIX closed Wednesday at 16.6, and Bitcoin trades at $79,572 (+1.7% over 24 hours).

Movers that matter

QCOM−11.8% downpremarket
Earnings8:15 AM ET
Qualcomm
Qualcomm shares are down 11.8% premarket after the company reported quarterly results after Wednesday's close (8-K Item 2.02).[1][2]
U+20.1% uppremarket
Earnings8:15 AM ET
Unity Software
Unity Software shares are up 20.1% premarket after the company reported quarterly results before the open (8-K Item 2.02).[1][2]
Revenue grew 32.2% year over year, accelerating from 23.9% in the prior quarter.
APP+22.4% uppremarket
Earnings8:15 AM ET
AppLovin
AppLovin shares are up 22.4% premarket after the company reported quarterly results after Wednesday's close (8-K Item 2.02).[1][2]
Operating margin expanded 142 basis points year over year to 78.2%.
TPR+13.6% uppremarket
Earnings8:15 AM ET
Tapestry
Tapestry shares are up 13.6% premarket after the company reported quarterly results before the open (8-K Item 2.02).[1][2]
Management raised its outlook, according to the release.
TM+8.5% uppremarket
Company filing8:15 AM ET
Toyota Motor
Toyota Motor shares are up 8.5% premarket. The company also disclosed a current report as a foreign private issuer (Form 6-K) in an 8-K filed before the open; a link to the move is not established.[1][2]
Link to the move not established
Only 28,981 shares had changed hands premarket by 8:15 AM ET, a thin base for a move this size.
ARM−7.5% downpremarket
Company filing8:15 AM ET
Arm Holdings
Arm Holdings shares are down 7.5% premarket. The company also disclosed a current report as a foreign private issuer (Form 6-K) in an 8-K filed after Wednesday's close; a link to the move is not established.[1][2]
Link to the move not established
296,485 shares had changed hands premarket by 8:15 AM ET.

Earnings radar

Overnight results

AppLovin (APP) reported after Wednesday's close.[2]
What changed
- Revenue grew 55.5% year over year, accelerating from 52.8% in the prior quarter.
- GAAP operating income rose 58.4% year over year to $1.71 billion.
- Net income rose 72.2% against 58.4% growth in operating income, so items below the operating line (interest, taxes or other non-operating items) added to the change.
After the close
Tapestry (TPR) reported before the open.[2]
What changed
- The company also disclosed a share repurchase update.
- Operating income grew 29.3%, faster than revenue's 11.1%, so operating costs rose more slowly than sales.
Before the open
Unity Software (U) reported before the open.[2]
What changed
- Gross margin expanded 748 basis points year over year to 81.9%.
Before the open
ConocoPhillips (COP) reported before the open.[2]
What changed
- Shares are +1.5% premarket.
- GAAP net income rose 131.8% year over year to $4 billion ($3.34 per diluted share versus $1.38).
Before the open
Parker-Hannifin (PH) reported before the open. Revenue of $6 billion, per the company's release. The release also includes an outlook.[2]Before the open

Coming today

Sony Group (SONY) is listed to report before the open.[3]Before the open
Monster Beverage (MNST) is listed to report after the close.[3]After the close
Canadian Natural Resources (CNQ) is listed to report before the open.[3]Before the open
Airbnb (ABNB) is listed to report after the close.[3]After the close
Cloudflare (NET) is listed to report after the close.[3]After the close

Report timing comes from Nasdaq's public earnings calendar and is not company-confirmed; results are cited only when they appear in a company filing.

What we're watching at the open

1
Whether Qualcomm stays below Wednesday's $173.19 close
Down 11.8% at 8:15 AM ET on 561,500 shares, after its filing.
2
Whether QQQ stays behind SPY after the open
QQQ is 0.9 points behind SPY at 8:15 AM ET. If the gap holds into midday, the move is in technology and growth names rather than the whole market.
3
Whether SPY holds below Wednesday's $766.81 close
SPY is up 0.06% at 8:15 AM ET. Holding below the prior close through the session would confirm the premarket direction.
4
Whether Unity Software stays above Wednesday's $42.46 close
Up 20.1% at 8:15 AM ET on 5,315,261 shares, after its filing.

Blockhaven Macro

Regime read: Transition

Blockhaven's read, computed Wednesday, Nov 4, 7:20 PM ET, is Transition. Risk Appetite 55 (inside its neutral band, down 2 over 5 snapshots); Liquidity 32 (below its neutral band, down 4 over 5 snapshots); Crypto 72 (above its neutral band, up 13 over 5 snapshots). Its Market Stress and Vol Event Risk engines are elevated.

Risk Appetite sits inside its neutral band, so the read does not lean either way on risk; Liquidity, below its band, is the one reading clearly off neutral. The regime read, Risk Appetite, Crypto and the three engines (Market Stress, Upside Expansion and Vol Event Risk) are only partly verified against public data, so treat them as provisional.

Macro read computed Nov 4, 2026, 7:20 PM ET.

Market context

Each figure carries its own date and time, and they were not observed simultaneously. Treasury yields are prior-day closes and Bitcoin is a rolling 24-hour reading.

Market figures, each with its own date
Figure	Reading	Dated
SPY, pre-market[1]	$767.28, +0.06%	8:15 AM ET
QQQ, pre-market[1]	$685.97, −0.9%	8:15 AM ET
10-year Treasury yield[4]	4.90%, −5 bp	Wed, Nov 4, 4:00 PM ET
VIX[5]	16.6	Wed, Nov 4, 4:15 PM ET
Bitcoin[6]	$79,572, +1.7%	8:15 AM ET

Data note

Data through 8:15 AM ET. Nasdaq public market data for quotes and SEC EDGAR for company filings. Blockhaven's Macro read was computed Wednesday, Nov 4, 7:20 PM ET.

This edition was compiled and published automatically from public sources under Blockhaven's standing editorial policy. An editor did not review it individually before release.

Condition scores, not probabilities. Thresholds are currently uncalibrated. Historical validation and calibration are in progress, and no hit rates or return claims are published. Macro methodology

Source checks completed Nov 5, 2026, 8:15 AM ET.

Sources

1.
Nasdaq
Nasdaq market activity(opens in a new tab)
Accessed November 5, 2026
2.
U.S. Securities and Exchange Commission
SEC EDGAR company filings(opens in a new tab)
Accessed November 5, 2026
3.
Nasdaq
Nasdaq earnings calendar(opens in a new tab)
Accessed November 5, 2026
4.
U.S. Department of the Treasury
Daily Treasury interest rate statistics(opens in a new tab)
Accessed November 5, 2026
5.
Cboe Global Markets
Cboe market data(opens in a new tab)
Accessed November 5, 2026
6.
Coinbase
Coinbase markets(opens in a new tab)
Accessed November 5, 2026
7.
Blockhaven
Blockhaven Macro snapshot (public projection)
Accessed November 5, 2026 · Snapshot dated 2026-11-04, methodology 2026.07.23-netliq-weekly.

Corrections and updates

No corrections or updates have been made to this piece.

Blockhaven research is published for information and education. It is not personalized investment advice.