Check out the companies making the biggest moves in pre-market trading: Broadcom — Shares fell 15% after the semiconductor maker reported second-quarter revenue of $22.19 billion, falling short of the $22.27 billion expected by analysts surveyed by LSEG. This is Broadcom’s first revenue shortfall since December 2024. The company’s infrastructure revenue of $7.18 billion also fell short of StreetAccount’s estimate of $7.32 billion. Semiconductor stocks — Stocks of artificial intelligence semiconductor companies fell after Broadcom’s earnings. Micron Technology fell 6% and Super Micro Computer fell 7%. Intel fell 4% and Advanced Micro Devices fell nearly 5%. 5 Down — The discount retailer fell nearly 11% even though the company gave a better-than-expected outlook. Second-quarter sales are expected to be in the range of $1.18 billion to $1.2 billion, compared to StreetAccount’s estimate of $1.15 billion. Same-store sales are expected to increase 7% to 9% in the same period, compared with a consensus of 4.4%. Petco — The pet retailer’s stock fell about 12% after Petco’s current quarter forecast fell short of Wall Street expectations. Petco expects second-quarter adjusted EBITDA to be in the range of $110 million to $112 million. Consensus called for EBITDA of $115 million per StreetAccount. Robinhood, Coinbase, Strategy — Cryptocurrency companies have fallen in response to Bitcoin’s weakness. The virtual currency has fallen by about 5%. Robinhood fell nearly 2%, Coinbase fell 1% and Strategy fell 2.7% CrowdStrike — This cybersecurity company fell 10% due to lackluster Q2 guidance. CrowdStrike expects second-quarter revenue of about $1.44 billion, slightly above StreetAccount’s estimate of $1.3 billion. The company also expects earnings per share to be between $1.16 and $1.17 per share. Analysts had expected earnings of around $1.16 per share. Shares of Palo Alto Networks and Fortinet also fell in line. PVH — Tommy Hilfiger and Calvin Klein’s parent company plunged 22%% after reiterating its full-year profit outlook. The company also beat first-quarter profits, with revenue roughly in line with expectations. C3.ai — the artificial intelligence application software company rose 1.4%. C3.ai’s fourth-quarter adjusted loss was 33 cents per share on revenue of $52 million. Analysts surveyed by LSEG had called for a loss of 37 cents per share and revenue of $50 million. UnitedHealth — The health insurance company rose 3% following an upgrade to Neutral Buy by Bank of America. The bank said improving health care cost trends and near-term data points will lead to strong second-quarter profits. Medtronic — The medical technology company rose nearly 2%. Following Medtronic’s earnings beat on Wednesday, BTIG upgraded the stock from Neutral to Buy. The company said it views the sales price to be attractive for the company, which trades at a discount compared to its peers. — CNBC’s Darla Mercado, Fred Imbert and Lisa Han contributed reporting.
