BEFORE THE OPEN · October 26, 2026
October 26, 2026 premarket recap: FICO and Moderna slide as travel stocks rise
Ross rose after a UBS upgrade; FICO slid after a Wells Fargo downgrade. Moderna’s cancer-trial reaction and EQT’s signed Range deal round out the key news before open on October 26.
| Stock | Premarket move | Price | Quote time · ET |
|---|---|---|---|
| Ross Stores, Inc. (ROST) | +3.34% | $236.97 | |
| Expedia Group, Inc. (EXPE) | +3.28% | $298.49 | |
| Host Hotels & Resorts, Inc. (HST) | +2.59% | $25.36 | |
| Equinix, Inc. (EQIX) | +2.49% | $978.77 | |
| MGM Resorts International (MGM) | +2.10% | $28.65 | |
| Fair Isaac Corporation (FICO) | -9.84% | $735.10 | |
| Moderna, Inc. (MRNA) | -8.02% | $184.05 | |
| EQT Corporation (EQT) | -4.24% | $53.27 | |
| Eversource Energy (ES) | -2.67% | $65.66 | |
| Coinbase Global, Inc. (COIN) | -2.15% | $160.91 |
1) The news behind the biggest moves
Ross’s upgrade and FICO’s downgrade put analyst calls in focus before open on October 26. Moderna’s trial results and EQT’s Range deal highlight the day’s bigger questions: can promising news translate into stronger profits per share?
2) Ross: UBS sees more sales from each store
Ross rose 3.34% after UBS upgraded it to Buy and raised its target to $315 from $239. UBS sees room for sales per store to catch up with TJX. Stronger store productivity could improve margins; sustained sales growth matters more than the temporary tariff refunds that helped the previous quarter.
3) FICO: a downgrade sharpens the pricing-power question
FICO fell 9.84% after Wells Fargo downgraded it to Equal Weight and cut its target to $735 from $800. Its decision to hold mortgage-score pricing at $10 shifts attention toward loan volumes and product adoption as sources of growth.
4) Moderna: good clinical data can still disappoint a highly valued stock
Moderna fell 8.02% as investors reassessed its melanoma-trial results. The treatment reduced recurrence or death by 42%, but the stock had carried high expectations. Regulatory approval and commercial adoption are the next tests of whether that clinical progress becomes a profitable product.
5) EQT: the acquisition trades scale for share issuance and integration risk
EQT fell 4.24% after signing an all-stock deal to acquire Range Resources. Greater scale could strengthen its natural-gas business, but new shares and integration costs make cash generation per share the key test. The acquisition still needs to be completed.
6) Expedia: faster hotel sign-ups could expand its marketplace
Expedia gained 3.28%. Its recent hotel-onboarding launch lets properties join its marketplace in under 24 hours, potentially expanding the rooms travelers can book. Watch whether that larger choice produces profitable booking growth when results arrive on November 4.
7) Equinix: liquid cooling addresses a practical barrier to AI expansion
Equinix gained 2.49% ahead of its October 28 earnings call. Its recently launched liquid-cooling centers help customers test dense AI equipment. The investment question is whether growing demand can outpace power, construction and financing costs.
8) Travel earnings are the next test
Host Hotels rose 2.59% and MGM gained 2.10%. MGM reports October 28 after close; Host’s earnings call is November 5. Watch hotel room rates and property cash flow at Host, and gaming demand and operating costs at MGM.
9) Other early movers
Eversource fell 2.67% and Coinbase lost 2.15%. Watch interest-rate expectations for the utility and trading activity for the crypto platform as the week’s earnings and Fed decision approach.
10) What to watch next
The Fed decision on October 28 and major technology earnings will test sentiment this week. Watch whether the early gains hold during regular trading, and whether company outlooks support expectations for consumer spending and AI investment.