Premarket Movers: Cerebras (CBRS) Retreats, Figma Surges, Coinbase Dips on Friday

TLDR

• Cerebras Systems declined 2.6% in early trading after Thursday’s 68% surge during its Nasdaq market debut
• Figma shares rallied 8.7% following impressive Q1 results showing 46% revenue expansion and upgraded annual forecasts
• Coinbase retreated 1.5% along with cryptocurrency-focused stocks following Thursday’s legislative momentum
• Applied Materials shares dipped 2.6% even after exceeding quarterly projections and providing optimistic forward guidance
• Pershing Square, managed by Bill Ackman, revealed a fresh stake in Microsoft without disclosing position details

Cerebras Systems experienced an explosive Thursday session, skyrocketing 68% during its initial Nasdaq trading day and finishing with a valuation of $66.95 billion. The performance significantly exceeded Wall Street’s projections when the offering was priced earlier in the week. However, Friday’s premarket session showed profit-taking, with the stock retreating 2.6%.

Cerebras Systems Inc., CBRS

Figma emerged as a standout performer heading into Friday’s session. The collaborative design platform reported first-quarter revenue totaling $333.4 million, representing a 46% year-over-year increase that surpassed analyst expectations. The company’s adjusted earnings per share of $0.10 also exceeded Wall Street’s forecasts.

Management elevated its full-year revenue projection to a range of $1.42 billion to $1.43 billion. Second-quarter revenue guidance of $348 million to $350 million also topped consensus estimates. Notably, Figma’s net dollar retention rate reached 139%, marking its strongest performance in more than two years.

The company attributed its robust quarterly performance to widespread user seat growth and increased utilization of its AI products. Premarket trading showed shares climbing 8.7%.

Cryptocurrency Equities Retreat Following Previous Session’s Gains

Coinbase experienced a 1.5% premarket decline after Thursday’s positive momentum. Robinhood Markets slipped 2.6% while Strategy decreased 2.2%. These stocks had advanced the previous day following a Senate committee’s decision to advance the Clarity Act, legislation that would transfer oversight of most cryptocurrency trading to the Commodity Futures Trading Commission.

Applied Materials saw shares fall 2.6% despite surpassing second-quarter earnings expectations and delivering robust guidance for the ongoing quarter. With shares climbing 71% in 2026, market participants appeared to be locking in gains.

Bill Ackman’s investment vehicle Pershing Square announced a newly established position in Microsoft. The exact size of the investment remained undisclosed but was anticipated to be revealed in a 13F filing scheduled for later Friday. Microsoft stock showed minimal movement on the announcement.

Additional Notable Market Movements

Taiwan Semiconductor declined 3% following its announcement of plans to divest approximately 152 million shares, representing roughly 8.1%, of Vanguard International Semiconductor through a block transaction targeting institutional buyers. This divestiture would trim its ownership from 27.1% to approximately 19%.

Nu Holdings tumbled 5% after delivering first-quarter earnings and revenue figures that fell below analyst projections. Transaction volume also disappointed at $39.5 billion. Despite the shortfall, the fintech company successfully onboarded 4 million new customers during the period, expanding its worldwide customer base beyond 135 million.

Papa John’s advanced 5% following media reports indicating its largest franchisee intends to partner with an investment firm on a potential acquisition offer valued at $47 per share. Brookfield Asset Management is reportedly providing financial support for the prospective bid.

Stock index futures pointed to a lower opening Friday morning. Confirmation emerged that recent diplomatic discussions between US and China officials failed to resolve semiconductor trade restriction disputes, contributing additional pressure to markets approaching the trading session.

The post Premarket Movers: Cerebras (CBRS) Retreats, Figma Surges, Coinbase Dips on Friday appeared first on Blockonomi.