Premarket movers: Mag 7 stocks are all lower: Alphabet falls 4% after the Google parent forecast full year 2026 capital expenditures of up to $185 billion, far exceeding consensus estimates. Analysts said the jump in spending may concern some investors, while others said it underscored the company’s confidence with AI (Nvidia drops 0.1% alongside AI infrastructure peers; Tesla -1%, Amazon -1%, Meta -1%, Apple -0.2%, Microsoft -1.8%) Align Technology (ALGN) climbs 11% after the medical devices firm reported adjusted earnings per share for the fourth quarter that surpassed Wall Street’s estimates. ARM Holdings (ARM) falls 7% after the company’s sales forecast disappointed investors, who are concerned about a slowdown in the smartphone market. Carrier Global (CARR) falls 6% after the HVAC company forecast full-year sales below what analysts expected. The company said it expects market conditions from the second half of 2025 to continue this year in its Americas residential business, which has struggled with weak demand. Elf Beauty (ELF) jumps 4% after the cosmetics company boosted its adjusted Ebitda guidance for the full year, beating the average analyst estimate. Analysts highlight strong performance in its newly-acquired Rhode, Hailey Bieber’s beauty and skincare brand. Estée Lauder Cos. (EL) tumbles 12% after its outlook boost failed to reassure some investors about the pace of the cosmetics conglomerate’s turnaround. Fluence Energy (FLNC) drops 17% after the energy storage technology company’s fiscal first quarter revenue fell shy of analyst estimates. Hershey Co. (HSY) rises 3% after offering a better-than-expected 2026 outlook as higher prices and new products bolster the candymaker’s performance. KKR & Co. (KKR) slips 2% after agreeing to acquire sports and secondaries investor Arctos Partners in a $1.4 billion deal, in a major push into a booming industry. Qualcomm (QCOM) falls 11% after the chipmaker’s revenue forecast was weaker than expected. The company said its “near-term handsets outlook is impacted by industry-wide memory supply constraints.” Symbotic (SYM) is up 5% after the technology firm forecast total revenue for the second quarter that topped the average analyst estimate.