Check out the companies making the biggest premarket moves: Lumentum Holdings , Coherent — Lumentum shares rose 5% after Lumentum’s CEO told Bloomberg that the optical and photonic maker’s products are booked through 2027 amid an artificial intelligence ramp-up. Shares of another photonics company, Coherent, rose 4%. Both companies have received investment from Nvidia. ServiceNow — The software company fell 1.5% after UBS downgraded it to neutral from buy. UBS previously said ServiceNow was relatively well-positioned to adapt to the AI era compared to other software companies, but said its confidence in that view has waned. Palo Alto Networks, CrowdStrike — Two cybersecurity stocks rebounded Friday after falling sharply on Thursday as confidence in the companies’ partnership with AI giant Anthropic over the new Claude Mythos model waned. Palo Alto and CrowdStrike both rallied more than 2%. Sandisk, Western Digital — Mizuho reiterated its Outperform rating on the memory and storage group and raised price targets on several stocks. SanDisk, the best-performing S&P 500 stock in 2026, rose nearly 3% after Mizuho raised its price target for the stock to $1,000. Western Digital also rose more than 1.5% as banks raised prices. Taiwan Semiconductor Manufacturing Co., Ltd. — Shares rose 2.5% after the company reported new record sales in the first quarter. Revenue increased 35% year-on-year to total NT$1.13 trillion, or $35.6 billion.
