Key Highlights

  • 7% was the approximate premarket gain for Mondelez (NASDAQ:MDLZ) on October 30, 2026, after higher Q3 adjusted Earnings and Revenue than expected, per two recaps.
  • 5% was the premarket gain for AstraZeneca, which beat before the open, and about 3% for AbbVie, so defensive earnings stood out against a falling technology sector.
  • USD 8.46 billion was BP's Underlying Profit against USD 7.33 billion expected, helped by refining margins, according to one recap that the other names do not share.
  • 2.08% was the premarket gain for the consumer staples ETF XLP, versus 1.23% for health care XLV and a fall of 3.22% for technology XLK.

Defensive Beats Meet a Tech Rout

Mondelez (NASDAQ:MDLZ) reported higher Q3 adjusted earnings and revenue than expected, and the shares rose about 7% in Friday premarket. AstraZeneca beat before the open and rose about 5%, while AbbVie gained about 3% after raising its 2026 adjusted EPS guide. Exact Mondelez and AstraZeneca figures were not available to us, though the direction of the results was confirmed in two recaps. BP reported underlying profit of USD 8.46 billion against USD 7.33 billion expected, a figure from one recap. Technology fell sharply in the same session, with Intel and Amazon lower after their results. These are premarket snapshots and can change at the 9:30 a.m. ET open.

Why Money Rotates to Staples

When Growth Stocks sell off, some investors shift into companies whose Demand is steadier, such as food makers and drug companies. Mondelez (NASDAQ:MDLZ) sells snacks that people buy through economic cycles, so its earnings are less tied to technology spending or AI budgets, which is the usual reason such stocks attract buyers in a sell-off. That makes a clean beat more visible when the Nasdaq-100 is down, with futures about 2.5% lower. The sector ETF moves show the rotation: XLP gained 2.08% and XLV 1.23% in premarket, while XLK lost 3.22%. A rotation is a shift in positioning, not proof that fundamentals have changed, and it can unwind quickly if technology steadies.

Risks and What to Watch

The risk for Mondelez (NASDAQ:MDLZ) is that a 7% jump in premarket may already price in the beat, leaving less room if the regular session cools or if technology steadies. Packaged food companies also face input costs and consumer price sensitivity, and we did not verify guidance details. Single-source numbers here include the BP profit and the premarket moves. Gilead and Mastercard results were not found, so we cannot extend the defensive theme to them. Energy names also helped: ExxonMobil and Chevron rose about 2% in premarket after their results. Watch the 9:30 a.m. ET open and whether staples hold gains if technology rebounds, plus the next consumer reports in the sector. We make no forecast.

Where Things Stand

Mondelez (NASDAQ:MDLZ) jumped about 7% because a clean earnings beat arrived on a day when investors were selling technology and looking for steadier earnings. AstraZeneca and AbbVie also rose, and the staples and health care ETFs gained while the technology ETF fell. The evidence is solid on direction but light on figures, since the Mondelez and AstraZeneca details were not verified. The next catalyst is the regular session open, where the premarket gap will be tested, and any rebound in technology that could slow the rotation.