US stock futures were rising Friday with the Dow Jones Industrial Average on track to end a losing streak of six straight sessions.
These stocks were poised to make moves Friday:
Broadcom - Broadcom jumped 14.9% after the semiconductor company reported fiscal fourth-quarter adjusted earnings that beat analysts' estimates on revenue of $14.05 billion, up 51% from a year earlier. The company said artificial-intelligence revenue for the fiscal year soared 220%. CEO Hock Tan told analysts on a conference call that Broadcom's AI opportunity was "massive" over the next three years, noting the company has three hyperscaler customers, a term for the major cloud computing vendors. Tan estimated the AI market opportunity for accelerators and networking in fiscal 2027 will range from $60 billion to $90 billion. Direxion Daily AVGO Bull 2X Shares (AVL) soared 30%, DEFIANCE DAILY TARGET 2X LONG AVGO ETF (AVGX) soared 28% in premarket trading.
Other semiconductor stocks also rose in premarket trading. Marvell Technology jumped 5.7%; Micron Technology and Arm Holdings rose 2%; TSMC rose 1.9%; Nvidia rose 1.1%; AMD rose 1%.
Tesla - Tesla rose 1.1% in premarket trading to $421.7. The stock fell 1.6% on Thursday, snapping a six-session winning streak a day after setting a record closing high of $424.77. The electric-vehicle maker has risen 68% in 2024.
RH - RH swung to a profit in its fiscal third quarter as revenue rose 8.1% to $811.7 million, and the stock soared 17.5% after the home furnishings company said it expects fourth-quarter revenue to increase 18% to 20% from a year earlier. RH said it expects fourth-quarter demand growth of 20% to 22% despite "the worst housing market in 30 years."
Chinese ADRs - Chinese ADRs dropped in premarket trading as authorities again left investors guessing on the specifics of a fiscal stimulus even as their key policy meeting vowed to boost consumption. XPeng fell 3.5%; Direxion Daily FTSE China Bull 3X Shares (YINN) fell 3.4%; Li Auto fell 3%; PDD Holdings fell 2.6%; JD.com fell 2%; NIO fell 1%; Alibaba fell 0.8%.
Costco - Costco Wholesale's fiscal first-quarter earnings of $4.04 a share beat Wall Street expectations of $3.79. Net revenue, including sales and membership fees, were $62.2 billion this quarter, up from $57.8 billion a year earlier but missing expectations of $66.5 billion. Same-store sales rose 5.2%, in line with estimates. Shares of the warehouse retailer were up 0.3% in premarket trading.
EVgo - EVgo was up 13.2% after the electric-vehicle charging company closed a $1.25 billion loan facility from the U.S. Energy Department. The company said the loan guarantee would support the nationwide deployment of about 7,500 high-power fast charging stalls.
Warner Bros. Discovery - Warner Bros. Discovery was down 1.8% in premarket trading, a day after jumping 15% following the entertainment company's announcement that it was restructuring into two divisions, one focused on the legacy cable TV business and the other on streaming and studios. CEO David Zaslav said the corporate structure would enhance its "flexibility with potential future strategic opportunities."
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