DKNG — -20% premarket after Q3 miss and guidance cut

DraftKings fell about 20% premarket after Q3 revenue of $1.33B missed the ~$1.40B consensus and the adjusted loss of $0.53 per share came in wider than the ~$0.36-0.39 expected. The company cut full-year 2026 revenue guidance to $6.35-6.55B and slashed adjusted EBITDA guidance to $175-275M from $700-900M, citing $650-700M of spending on its Predictions business.