The iShares Semiconductor ETF (SOXX) rebounded over 2.5% in premarket trading, recovering from a previous drop of more than 11%. Notable individual performances included Intel and Advanced Micro Devices, both rising by 2.5% and 3%, respectively, while Broadcom increased nearly 2%.
Comcast's shares rose 0.5% following its U.K. subsidiary Sky's announcement to acquire ITV's television business, amidst plans to spin off its media assets. ASML Holding experienced a 4% increase after Bernstein raised its price target by over 30% to $2,300, citing significant growth in logic and DRAM capacity driven by artificial intelligence.
T-Mobile U.S. shares climbed more than 1.5% after Bank of America upgraded its rating to buy, suggesting that the stock's decline from its February highs was excessive. Conversely, DataDog's shares fell over 2% after Bernstein downgraded its outlook to market-perform, expressing caution ahead of upcoming earnings.
Additionally, Lam Research, Applied Materials, and KLA Corporation saw strong premarket gains after Morgan Stanley raised their price targets, with Lam Research leading the S&P 500 with an increase of more than 4%