Check out the companies making headlines in premarket trading. Broadcom — Shares of the semiconductor maker jumped nearly 17% after the company's fiscal fourth-quarter earnings exceeded expectations. CEO Hock Tan said that Broadcom is developing custom artificial intelligence chips with three large cloud customers. The company also said its artificial intelligence revenue for the year more than tripled.
Shares closed 15% higher on Thursday after Ciena issued strong first-quarter and fiscal 2025 revenue, despite the company falling short of Wall Street's earnings expectations. On Friday, Bank of America upgraded the stock to a buy from neutral on the back of stabilizing demand and accelerated cloud and AI momentum. Upstart Holdings -- Shares of the lending platform rose more than 4% after upgrade to buy from hold at Needham.
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