Stock Market Today, Nov. 9: Ionis shares fall 9.3% premarket after lowering TRYNGOLZA sales guidance

Update, 8:35 a.m. ET

As of 8:35 a.m. ET on Nov. 9, the S&P 500 ETF (SPY) is up 0.92% premarket after gaining 0.31% Friday, while the Nasdaq-100 ETF (QQQ) is also up 0.92% premarket following a 1.40% gain Friday. The Dow Jones Industrial Average ETF (DIA) is up 1.23% premarket after falling 0.40% Friday, and the Russell 2000 ETF (IWM) is up 1.46% premarket after rising 0.99% Friday. Nvidia shares were down 5.56% premarket at 8:34 a.m. ET after China rejected espionage claims involving CEO Jensen Huang, per the NYT, and Bloomberg reported Huang admitted to an affair with a suspected Chinese spy.

Markets at 8:35 a.m.

Late news

Nvidia shares fall 5.56% premarket after China rejects espionage claims against CEO

Nvidia shares were down 5.56% premarket at 8:34 a.m. ET, after rising 2.78% on Friday. The NYT reported that China rejected espionage claims involving Nvidia CEO Jensen Huang, and that the controversy has intensified scrutiny of his ties to Beijing. The NYT said reactions across Asia are mixed, where Huang is widely popular. Bloomberg reported that Huang admitted to having an affair with a suspected Chinese spy. China Beige Book CEO Leland Miller called for closer scrutiny of chipmakers' export-control assurances.

Source: NYT, Bloomberg

---

Stocks were set to open higher on Nov. 9, with the S&P 500 ETF (SPY) up 0.67% pre-market after a 0.31% gain Friday, and the Nasdaq-100 ETF (QQQ) up 0.60% after rising 1.40% Friday. The top stories are an attack that damaged Saudi Aramco offices in Riyadh and the New Zealand election, where the incumbent National Party has a path back to power. Several single stocks are moving premarket, led by Ionis, down 9.3% after lowering its TRYNGOLZA sales guidance.

Markets

The S&P 500 ETF (SPY) is up 0.67% pre-market after Friday's gain of 0.31%, and the Nasdaq-100 ETF (QQQ) is up 0.60% after rising 1.40% Friday. The VIX futures ETF (VIXY) is down 5.96% pre-market, while the US dollar ETF (UUP) is down 0.41%. The Financials ETF (XLF) leads pre-market at +0.91%... the Technology ETF (XLK) is the weakest at -0.02%, though the Energy ETF (XLE) is lower at -0.07%.

Top stories

Aramco tower in Riyadh damaged in Houthi attack

Bloomberg reported that Saudi Aramco offices in Riyadh's King Abdullah Financial District were damaged on Sunday, Nov. 8, in a fresh escalation of the kingdom's conflict with the Houthis in Yemen. NYT reported that Saudi authorities said no one was injured and that falling shrapnel from an intercepted missile hit the building. CNBC reported that Saudi Arabia's Energy Ministry said the building was damaged by falling debris after an attempted attack.

Source: Bloomberg, NYT, CNBC, FT

New Zealand dollar edges higher as ruling National eyes power

Bloomberg reported the New Zealand dollar edged higher in early trading on Nov. 8 after the incumbent National Party emerged from the weekend election with a path back to power. National was positioned to lead negotiations with minor parties. Bloomberg also reported that voters delivered National a bruising rebuke, deserting the party in droves and strengthening its partners on the right.

Source: Bloomberg

Stock stories

Ionis shares fall 9.3% premarket after lowering TRYNGOLZA sales guidance

Ionis shares are down 9.3% premarket as of 7:28 a.m. ET, after gaining 1.60% in the prior session. The company lowered its 2026 TRYNGOLZA product sales guidance to approximately $50 million, reflecting a more gradual launch ramp than anticipated. Third-quarter total revenue was $243 million, up from $157 million a year earlier, while TRYNGOLZA net product sales were $9 million versus $32 million. DAWNZERA third-quarter net product sales were $37 million, and its 2026 product sales guidance of $110-120 million was reaffirmed, along with total revenue, operating loss and cash guidance. Cash and short-term investments were $1.9 billion at September 30.

Source: IONS 8-K exhibit

Akamai shares fall 7.4% premarket after proposed convertible notes offering

Akamai shares are down 7.4% premarket as of 7:29 a.m. ET, after rising 6.74% in the prior session. Akamai proposed $1.1 billion of convertible senior notes due 2028 and $1.1 billion due 2031, with initial purchasers holding options for another $150.0 million of each. Proceeds would repay part of the $1.15 billion of 0.375% convertible notes due 2027 and fund capital expenditures for Cloud Infrastructure Services, with the rest for general corporate purposes. Interest rate, conversion rate and offering price will be set at pricing. Third-quarter revenue was $1.122 billion, up 6% year over year, and GAAP net income per diluted share was $0.77, down 21%.

Source: AKAM 8-K exhibit, AKAM 8-K exhibit

NRG shares rise 4.8% premarket after agreeing to sell generation assets

NRG shares are up 4.8% premarket as of 7:29 a.m. ET, after a 9.61% gain in the prior session. NRG agreed to sell six natural gas generation assets totaling 4.9 GW to LS Power for $4 billion in cash, subject to working capital and other closing adjustments, an implied 8.0x 2027 EV/Adjusted EBITDA. The sale is targeted to close in the second quarter of 2027, pending HSR, FERC and NYSPSC approvals. Proceeds support $3 billion of share repurchases across 2026 and 2027, including $1 billion starting before the end of the fourth quarter of 2026. Third-quarter GAAP net income was $561 million, versus $152 million a year earlier, and Adjusted EPS was $4.68, versus $2.78.

Source: NRG 8-K exhibit, NRG 8-K exhibit

Roivant shares rise 6.4% premarket after Immunovant rheumatoid arthritis trial success

Roivant shares are up 6.4% premarket as of 7:27 a.m. ET, after gaining 6.17% in the prior session. In Period 2 of the potentially registrational D2T RA trial, IMVT-1402 600 mg met the primary ACR20 endpoint at Week 28, with 92.5% responding versus 75.6% on placebo (p=0.0139). The 300 mg dose did not differ from placebo. FDA discussions are planned later this year on the registrational path. Brepocitinib met the primary and all key secondary endpoints in the CLARITY-1 and CLARITY-2 trials in non-infectious uveitis, with an sNDA planned for the first half of 2027. LISRAYA generated $31.0 million in net product revenue in its first 5 weeks, and cash was $4.2 billion at September 30.

Source: ROIV 8-K exhibit

QXO shares rise 6% premarket after preliminary third-quarter sales jump

QXO shares are up 6% premarket as of 7:29 a.m. ET, after a 0.69% decline in the prior session. Preliminary third-quarter net sales were approximately $4.90 billion, up from $2.73 billion a year earlier. The GAAP net loss was approximately $123 million, compared with $139 million in the third quarter of 2025. Adjusted EBITDA was approximately $557 million, up from $301 million, and results include Kodiak Building Partners from April 1 and TopBuild from July 1, neither in the prior-year quarter. The figures are preliminary, unaudited and may change, and full third-quarter results are due Nov. 12.

Source: QXO 8-K exhibit

Today ahead

Companies reporting before the open include Constellation Energy (CEG), CNH Industrial (CNH), KKR (KKR), and NRG Energy (NRG). After the close, Occidental Petroleum (OXY), Rocket Lab (RKLB), Take-Two Interactive Software (TTWO), and AST SpaceMobile (ASTS) are among the companies reporting.

• Reported before the open: Constellation Energy (CEG), CNH Industrial (CNH), KKR (KKR), NRG Energy (NRG), Somnigroup International (SGI), Affiliated Managers Group (AMG)
• Reporting after the close: JBS (JBS), Occidental Petroleum (OXY), Rocket Lab (RKLB), Skydance (SKYD), Take-Two Interactive Software (TTWO), AAON (AAON), AST SpaceMobile (ASTS), Clearway Energy (CWEN), H&R Block (HRB), Lineage (LINE), Onto Innovation (ONTO), Sanmina (SANM)

Prices are ETF and stock prices as of 7:30 a.m. ET, Nov. 9.