Check out the companies making headlines in pre-market trading. Broadcom — Shares of Broadcom rose nearly 17% after the semiconductor maker beat fourth-quarter profit expectations. CEO Hock Tan said that Broadcom is developing customized artificial intelligence chips with three major cloud customers. The company also said its artificial intelligence revenue has more than tripled this year. RH — Shares of the luxury furniture retailer surged 13% in premarket trading after the company raised its forward guidance. RH expects fourth-quarter revenue to increase by 18% to 20% annually, citing “accelerating demand.” The company also turned a profit in the third quarter. Tesla – The electric car maker’s shares rose 1% after Reuters reported that President-elect Donald Trump’s team recommended ending rules for reporting crashes. Reuters reports that Tesla has reported the most crashes under the program, but Chief Executive Elon Musk doesn’t like the requirement. Norwegian Cruise Line — Shares of Norwegian Cruise Line rose 2.6% after Barclays upgraded the company to “overweight.” “We like NCLH given its high beta in a re-accelerating macro environment and our expectation that U.S. overseas demand will be impacted by transatlantic travel over the course of the year,” the bank said. Penn Entertainment — JP Morgan The online sports betting stock rose 5.8% after being upgraded to overweight from neutral. The bank said it sees a path to future overall growth as Penn Entertainment’s capital projects begin to come to fruition. Ciena — Shares of the networking equipment company rose nearly 2% daily after reporting its best results since August 2023. It closed 15% higher, although the company missed Wall Street’s profit expectations. On Friday, Bank of America upgraded the stock to “buy” from “neutral” on steady demand and accelerating cloud and artificial intelligence momentum. Upstart Holdings – Shares of the lending platform rose more than 4% after Needham upgraded its rating to “buy” from “hold.” The investment firm said Upstart has “achieved an appropriate capital balance” and strengthened its balance sheet. Centene — Shares of Centene rose 1.4% after UBS upgraded the stock to “buy” from “neutral.” UBS called the stock “too cheap to ignore.” TaskUs — The outsourcing stock rose 6.8% after Morgan Stanley upgraded the stock to overweight from equal weight. The bank said TaskUs should be a beneficiary of artificial intelligence and has “industry-leading” profit margins and a “competitive moat.” Canadian Solar — The renewable energy stock rose 2% after Mizuho initiated an outperform rating on the stock. Mizuho believes that investors have not yet fully considered the growth value of the energy storage business. PayPal – Shares of PayPal rose 1.8% after Wolfe Research upgraded the financial technology stock to outperform from peer rating. Wolff said it sees potential upside to Wall Street’s expectations. Salesforce, ServiceNow — Salesforce shares rose 2%, while ServiceNow fell 1.1%. Prior to this, KeyBanc Capital Markets issued a specific outlook for enterprise software stocks in 2025, upgrading Salesforce to overweight and downgrading ServiceNow to industry weight. Salesforce has risen this quarter on a string of positive news about its artificial intelligence products, but there is still “room for improvement,” the company said. ServiceNow is an “early AI leader” but currently has “modest advantages,” the company said. —CNBC’s Pia Singh, Michelle Fox, Lisa Kailai Han, Yun Li, Sarah Min and Jesse Pound contributed reporting
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