LITE, NOW, SNDK & more
Check out the companies making the biggest moves premarket: Lumentum Holdings , Coherent — Lumentum shares jumped 5% after its CEO told Bloomberg that the optical and photonic producer’s products are booked through 2027, amid the artificial intelligence buildout. Shares of Coherent, another photonics company, were up 4%. Both companies have investments from Nvidia . ServiceNow — The software company fell 1.5% after a downgrade from UBS from buy to neutral. UBS previously said ServiceNow was relatively better positioned to adapt to the AI era than other software companies but said its confidence in that view has weakened. Palo Alto Networks , CrowdStrike — The two cybersecurity stocks bounced back on Friday after a major sell-off on Thursday after faith in a partnership between these companies and AI giant Anthropic around its new Claude Mythos model faded. Palo Alto and CrowdStrike both rebounded more than 2%. Sandisk , Western Digital — Mizuho reiterated its outperform rating on the memory and storage group, and raised its price targets on several names. Sandisk, the best performing stock on the S & P 500 in 2026, rose nearly 3% after Mizuho hiked its price target on the stock to $1,000. Western Digital rose more than 1.5% on its price hike from the bank as well. Taiwan Semiconductor Manufacturing Co . — Shares jumped 2.5% after the company reported another record revenue total in the first quarter. Revenue was up 35% year-over-year, totaling 1.13 trillion new Taiwan dollars, or $35.6 billion.