Premarket Movers: Rapport Therapeutics Surges on Trial Win, General Motors Drops
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US stock futures were split before Tuesday's open. S&P 500 futures had slipped 0.15% and Nasdaq 100 futures fell 139 points, or 0.5%, while Dow futures gained 105 points, or 0.2%, by 07:07 ET. Artificial-intelligence stocks came under pressure again as worries about sector debt spread, with oil climbing on Middle East fighting.
Biggest premarket movers, Tuesday, Oct. 20, 2026 (as of 07:07 ET)
| Company | Move | Catalyst |
|---|---|---|
| Rapport Therapeutics ($RAPP) | +31.1% | Phase 2 trial of RAP-219 in acute bipolar mania met primary and secondary endpoints |
| Alvotech ($ALVO) | +7.0% | FDA approved Process 2.0 manufacturing for Humira biosimilar SIMLANDI |
| Halliburton ($HAL) | +3.4% | Q3 earnings and revenue beat; revenue $5.7B |
| Solstice Advanced Materials ($SOLS) | +3.0% | Starboard Value reported to have built a stake |
| MSCI ($MSCI) | +2.8% | Q3 adjusted EPS $5.11 beat; revenue up 12.4% to $892.0M |
| RTX ($RTX) | +2.2% | Q3 beat and raised full-year outlook |
| Akamai Technologies ($AKAM) | +2.2% | Raymond James upgrade to Strong Buy |
| 3M ($MMM) | +1.0% | Adjusted EPS $2.50 beat; expanded Amazon relationship |
| Northrop Grumman ($NOC) | +0.5% | Q3 EPS $7.89 beat, revenue slightly light |
| Genuine Parts ($GPC) | -8.2% | Narrowed full-year EPS guidance despite Q3 beat |
| NuScale Power ($SMR) | -6.5% | Barclays downgrade to Underweight |
| General Motors ($GM) | -6.3% | No guidance raise; narrowed 2026 adjusted EBIT outlook |
| Steel Dynamics ($STLD) | -5.3% | Q3 EPS and margins missed |
| CoreWeave ($CRWV) | -4.5% | AI debt concerns, sector selloff |
| GE Aerospace ($GE) | -1.4% | Free cash flow $2.04B missed expectations |
| Apple ($AAPL) | -1.0% | Loop Capital downgrade to hold |
Earnings set the tone
General Motors dropped 6.3% in premarket trading. Third-quarter revenue hit $50.0B and net income reached $3.3B, but the automaker trimmed the top of its 2026 adjusted operating profit range to $15.5B. A fresh $20B buyback program wasn't enough to offset the missing guidance hike.
RTX rose 2.2% before the bell. Adjusted earnings of $2.26 per share cleared the $1.78 LSEG consensus, and revenue of $25.0B rose 11% from a year earlier. The defense and aerospace group lifted full-year adjusted earnings guidance to $7.65-$7.75 per share.
GE Aerospace slipped 1.4% despite beating on both lines and raising guidance across the board. Free cash flow of $2.04B landed under the $2.2B StreetAccount forecast. Total orders climbed 49% to $19.0B.
Genuine Parts fell 8.2%, the morning's steepest decline. The parts distributor edged past estimates with adjusted earnings of $2.07 per share, then narrowed its 2026 range to $7.50-$7.75, leaving the midpoint short of what analysts wanted.
Steel Dynamics slid 5.3% after mixed third-quarter numbers. Revenue beat, while earnings per share and profit margin missed. Customer backlog is running 50% above last year and stretches into 2027.
Halliburton gained 3.4%. The oilfield services firm posted adjusted earnings of $0.60 per share, two cents above consensus, on revenues to $5.7bn with net income of $419M.
MSCI added 2.8%. Adjusted earnings of $5.11 per share beat the $5.02 consensus, and revenue grew 12.4% to $892.0M. Operating margin came in at 56.3%.
Northrop Grumman edged up 0.5% on a mixed quarter. Earnings of $7.89 per share topped the $7.18 LSEG estimate, while revenue of $11.12B came in a touch light.
Deals and ratings move the rest
Rapport Therapeutics surged 31.1%. Its Phase 2 study of RAP-219 in adults with acute bipolar mania hit both primary and secondary endpoints across 253 patients, giving the drug's mechanism clinical proof-of-concept.
Alvotech climbed 7% after US regulators cleared Process 2.0, a new manufacturing method for its Humira biosimilar SIMLANDI. The company says the upgrade can more than double drug substance output per batch at its Reykjavik plant.
3M rose 1%. Adjusted earnings of $2.50 per share beat the $2.38 estimate, and the industrial group handed an Amazon subsidiary a warrant to buy more than $521M of its stock.
Solstice Advanced Materials gained 3% following a report that activist investor Starboard Value has built a position in the chemicals company.
NuScale Power fell 6.5% after Barclays cut the small modular reactor developer to Underweight. Akamai Technologies moved the other way, up 2.2% on a Raymond James upgrade to Strong Buy tied to its AI infrastructure work.
Apple lost ~1% after Loop Capital moved the stock to hold, flagging softening iPhone demand and a stretched valuation. CoreWeave tumbled 4.5% as the AI debt worry hit cash-hungry names hardest.
Netflix reports after the close alongside SpaceX and United Airlines. Traders are also watching September building permits, housing starts, and pending home sales.
