Hyliion surges after securing a $41.7M U.S. Navy contract, offsetting declines in Tesla and Alphabet shares.
Technology earnings drove mixed premarket moves as ServiceNow rose on strong AI-driven growth, while Tesla and Alphabet fell despite revenue increases. Tesla and Alphabet faced profit pressures from higher capital spending, weighing on shares even as both reported revenue growth and product advancements.
Hyliion’s stock jumped after winning a $41.7M U.S. Navy contract for its KARNO power generation systems, validating its technology. The broader market saw subdued activity as investors parsed earnings and monitored escalating geopolitical tensions in the Middle East.