Today's Pre-Market Movers and Top Ratings | AVGO, EVGO, XPEV and More

$Broadcom (AVGO.US)$ stock surged by over 17% following the release of its fiscal fourth-quarter results, which revealed adjusted earnings surpassing analysts' expectations. The company also reported a remarkable 220% increase in its AI revenue for the year. This positive news had a ripple effect on other semiconductor stocks, with $Marvell Technology (MRVL.US)$ , $NVIDIA (NVDA.US)$ , and $Advanced Micro Devices (AMD.US)$ all experiencing gains in early trading, riding the wave of Broadcom's strong performance.

$EVgo Inc (EVGO.US)$ surged 13% after announcing Thursday it secured a $1.25 billion loan facility from the U.S. Department of Energy. The loan, part of the Title XVII Clean Energy Financing Program, will fund 7,500 new fast-charging stalls nationwide. It includes $1.05 billion in principal and up to $193 million in capitalized interest. EVGO plans an initial $75 million draw in January, pending conditions.

Luxury furniture retailer $Restoration Hardware (RH.US)$ saw its stock surge 13% in premarket trading following an upward revision of its future outlook. The company projected fourth-quarter revenue growth between 18% and 20% compared to the previous year, attributing this to "an acceleration of demand." Additionally, RH reported a return to profitability in the third quarter, marking a turnaround from previous losses.

Shares of $TaskUs (TASK.US)$ , the outsourcing company, rose 7% after Morgan Stanley upgraded its rating from equal weight to overweight. The investment bank highlighted TaskUs as a potential beneficiary of the AI trend, noting the company's "industry-leading" margins and "competitive moat." This positive assessment from Morgan Stanley contributed to the stock's upward movement.

$XPeng (XPEV.US)$ dropped over 3.5% pre-market to $12.36. UBS raised XPeng's target price from $8.2 to $8.8 but downgraded it from "neutral" to "sell." UBS expressed concerns about the sustainability of XPeng's monthly 10,000-unit deliveries for M03 and P7+ models and remained cautious about Volkswagen's EV performance next year. While acknowledging EREV products could expand XPeng's market, UBS noted limited visibility on the EREV pipeline. XPeng's success with EREV models depends on consumer understanding, execution strategy, and brand awareness.