Seeking Alpha盘前异动综述：QS/KMI财报后上涨，IBM/TSLA/BABA下跌，均已在盘后至盘前放量定价

Stock futures edged lower in the premarket trading on Thursday as the escalating Middle East conflict and surging crude oil prices triggered a risk-off retreat across global equities. Here are some of Thursday's biggest stock movers: Biggest stock gainers QuantumScape ( QS ) +8% - Shares surged after the solid-state battery developer reported a narrower Q3 net loss of $84.5M, or $0.14 per share, compared with a $105.8M loss, or $0.18 per share, a year earlier. Adjusted EBITDA loss was $60.7M, in line with expectations, while customer billings reached $9.8M, and the company ended the quarter with $819.8M in liquidity. QuantumScape also announced plans for a 100-megawatt-hour cell production line targeting a 2028 start, with equipment costs expected to be below $100M, to serve AI data centers, aerospace, defense, and other advanced applications. The company reiterated its FY2026 adjusted EBITDA loss guidance of $250M-$275M and capital expenditure outlook of $27M-$37M. Kinder Morgan ( KMI ) +3% - Shares climbed after the pipeline operator reported better-than-expected Q3 results. The company also reached a final investment decision on the $4.2B Permian Link pipeline, a 434-mile project designed to transport up to 2.8 Bcf/day of natural gas across West Texas and the Panhandle to support a data center complex, with an A-rated hyperscaler expected to be a major customer under long-term take-or-pay agreements. Kinder Morgan also approved the 470-mile Southeast Connector pipeline, which will transport up to 2.6 Bcf/day. The company expects to spend about $1.6B on Permian Link and $3.1B on Southeast Connector, with service expected to begin in phases from Q3 and Q4 2030, respectively. The projects lifted its backlog to $14.4B, up $4.7B from Q2, including a record $13.2B in natural gas projects. Biggest stock losers International Business Machines ( IBM ) -6% - Shares slid despite the technology giant's upbeat Q3 results. Software revenue grew 8.3% Y/Y to $7.8B, led by Red Hat, data services, and hybrid cloud, while consulting revenue was roughly flat at $5.3B, infrastructure revenue rose 4.2% to $3.7B, and financing revenue declined 4% to $192M. The adjusted gross margin of 58.5% came in below the 59.3% consensus. IBM maintained its FY2026 constant-currency revenue growth outlook of 4%-5%, implying a 4.5% midpoint above the 4.1% consensus, and now expects free cash flow to increase by more than $1B Y/Y. The board also approved a quarterly dividend of $1.69 per share. Tesla ( TSLA ) -5% - Shares fell after the electric-vehicle maker reported mixed Q3 results, with revenue missing estimates and remaining nearly flat Y/Y. In an earnings conference call, CEO Elon Musk said demand for Tesla vehicles is outpacing supply and reiterated a target of producing 5M vehicles annually by 2030, while the company plans to launch its Cybercab service in Dallas next month before expanding to other cities. Musk also said Optimus humanoid robots remain in early production, with Tesla targeting a production rate of 20,000 units per week at its Fremont facility within a year and aiming to produce a useful chip at volume around Q3 2028. Separately, reports of a potential Tesla-SpaceX merger before the end of President Donald Trump's term weighed on both companies' shares. ARK Investment Management analyst Brett Winton said a merger could leave Tesla shareholders about five times better off by 2036 versus a no-merger scenario, based on the firm's model, though Musk offered no new details on a potential deal. SPCX shares fell 3% following the announcement. Alibaba ( BABA ) -5% - Shares posted their biggest decline in two months after Chinese regulators summoned major e-commerce platforms and called for stricter product-quality standards, weighing on Hong Kong-listed technology stocks. China’s State Administration for Market Regulation said it had recently held a symposium in Beijing with Alibaba, JD.com, and other platforms to discuss improving product and service quality. The regulator said risks involving product quality and safety remained despite platforms’ efforts to comply with guidance issued last year, particularly in livestreaming e-commerce and quick retail.