Stock Movers Qualcomm Slips; DoorDash Plunges; Fortinet Falls
Nov 6, 2025
Qualcomm's shares stumbled after a disappointing fourth-quarter outlook following a substantial $5.7 billion writedown. Meanwhile, DoorDash's stock plummeted as the company plans to ramp up investments in Deliveroo, impacting its earnings forecast. Fortinet also faced challenges with a revenue miss in its service segment, marking its slowest growth in a decade. In contrast, Snap surged after announcing a significant AI partnership, fueling excitement around its stock.
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Qualcomm Beat But Market Expected More
- Qualcomm beat on earnings and gave a positive outlook but shares fell because the beat margin was smaller than expected.
- A $5.7 billion tax-related writedown produced a reported net loss that weighed on sentiment.
DoorDash Investment Plans Spook Investors
- DoorDash said it will increase investments, including more spending on Deliveroo and internal tools.
- Investors punished the stock, sending shares down roughly 11% on fears of excessive spending.
Fortinet Services Miss Slows Growth
- Fortinet's services revenue grew 13% to $1.17 billion but missed expectations.
- The miss marked the slowest services growth in at least a decade and sent shares lower.