Dell and HP Jump as Lenovo Crushes Q2 Estimates

Dell Technologies and HP Inc. are rising premarket due to Lenovo's strong quarterly results. Lenovo reported its fastest growth in five years, with revenue up 43% and server sales doubling on an AI infrastructure boom.

The company's success is a bullish sign for both Dell and HP, as they compete head-to-head with Lenovo in the PC market and Dell also competes with Lenovo in AI servers.

Cisco Systems, on the other hand, is down 7% premarket despite beating revenue and EPS estimates in its fiscal fourth quarter. The stock has been up nearly 61% this year, meaning a beat and raise was largely priced in.