BEFORE THE OPEN · November 2, 2026
November 2 pre-market: EchoStar deal talks and a Coherent upgrade lift shares
EchoStar advances on reported SpaceX talks and Coherent gains after an upgrade. Fox subsequently reports stronger advertising and profit; manufacturing data is the next test.
| Stock | Premarket move | Price | Quote time · ET |
|---|---|---|---|
| EchoStar Corporation (ECHO) | +6.69% | $103.43 | |
| Coherent, Inc. (COHR) | +6.60% | $224.20 | |
| Fox Corporation (FOXA) | +5.65% | $66.81 | |
| Illumina, Inc. (ILMN) | +4.75% | $247.20 | |
| Ciena Corporation (CIEN) | +4.64% | $335.59 | |
| Verisk Analytics, Inc. (VRSK) | -12.38% | $172.00 | |
| Eversource Energy (ES) | -2.95% | $66.53 | |
| Paychex, Inc. (PAYX) | -2.78% | $109.00 | |
| Xcel Energy Inc. (XEL) | -2.10% | $78.14 | |
| T-Mobile US, Inc. (TMUS) | -1.98% | $153.35 |
1) EchoStar: reported Boost talks put the business mix in focus
EchoStar rose 6.69% to $103.43 before open. A November 2 report said SpaceX was in talks to buy Boost Mobile or use its network, citing the Washington Post. The companies did not immediately respond to requests for comment in that report. No signed transaction has been announced. The investment question is how any agreement would alter EchoStar’s cash needs and continuing responsibilities. Selling a business and selling access to a network have different effects on revenue, costs and future investment. Price, retained obligations and required consents will determine whether a transaction improves the balance sheet and cash flow.
2) Coherent: an upgrade ahead of the next earnings test
Coherent rose 6.60% to $224.20 after Northland analyst Tim Savageaux upgraded it to Outperform on November 2. This is a fresh positive analyst assessment ahead of the company’s confirmed November 4 report after close. Coherent supplies optical components, lasers and materials. Datacenters and communications accounted for about 74% of fiscal 2026 revenue, making demand from AI infrastructure especially important. Its August outlook called for September-quarter revenue of $2.2–$2.4 billion and adjusted profit per share of $1.85–$2.05. Investors should look for production expansion that supports growth while protecting margins.
3) Fox results strengthen the advertising picture
Fox’s earlier pre-market price comparison was $66.81, up 5.65%, before its earnings release. The company subsequently reported first-quarter fiscal 2027 results for the three months ended September 30. The earlier price move should therefore be read separately from these newly released results. Revenue was $4.571 billion, with reported profit per share of $2.20 and adjusted profit per share of $2.54. Adjusted profit excludes specified costs. Advertising revenue increased 47%, supported by the World Cup, political advertising and digital growth led by Tubi. Higher sports and digital-content costs partly offset the sales improvement. The October ISM manufacturing survey is due during trading on November 2. Stronger orders can support industrial suppliers’ sales outlook, while input-cost pressure can limit the benefit to profits.
4) Selected pre-market prices
November 2, 2026 before open · Change versus the previous regular close. ECHO: $103.43 (+6.69%) COHR: $224.20 (+6.60%) FOXA: $66.81 (+5.65%) ILMN: $247.20 (+4.75%) CIEN: $335.59 (+4.64%) VRSK: $172.00 (-12.38%) ES: $66.53 (-2.95%) PAYX: $109.00 (-2.78%) XEL: $78.14 (-2.10%) TMUS: $153.35 (-1.98%)
5) Utility context and the next investor decision
Xcel Energy’s October 29 earnings release provides recent context for the utility watchlist. It reported third-quarter GAAP and ongoing profit per share of $1.52, narrowed its 2026 ongoing outlook to $4.10–$4.16 and issued a 2027 range of $4.48–$4.62. These are previously reported results, not a new Monday announcement. For the morning’s highlighted stories, watch for concrete deal terms at EchoStar, the coming earnings evidence at Coherent and the durability of Fox’s advertising growth, and the balance between orders and input costs in the manufacturing survey. Thin pre-market trading and new information can produce sharp reversals.