Stocks making the biggest premarket moves: Micron, Apple, Astera Labs, Broadcom and more
Explore the corporations that made the most striking premarket trading moves:
Micron — Semiconductor producer Micron’s shares soared 16.5% after exceeding analyst predictions in fiscal second-quarter earnings and revenue. With earnings of 42 cents per share on $5.82 billion revenue, Micron outperformed LSEG’s expected loss of 25 cents per share on $5.35 billion revenue. Forecasts for third-quarter earnings and revenue also exceeded expectations.
Apple — Following a Bloomberg report of a possible Justice Department antitrust suit, the smartphone giant’s shares fell by 1%.
Astera Labs (ALAB) — After its Nasdaq debut, shares of Astera Labs, a data center connectivity chip seller to cloud and AI infrastructure firms, rose nearly 2%. The company’s shares had surged 72% on its first trading day.
Li Auto — The US-listed Chinese electric vehicle manufacturer saw its shares plummet 9% as first-quarter delivery expectations were lowered.
Broadcom — Before the market opened, Broadcom’s shares rose nearly 3% following TD Cowen’s upgrade to outperform status, sighting more potential profits from its AI business.
Revolve Group — With an upgrade from market perform to outperform from TD Cowen, shares of fashion retailer Revolve Group climbed almost 5%. The firm predicts Revolve’s growth revival after a year of markdowns and generalized sluggishness.
Nvidia — The leading AI chip producer’s shares increased 2% after TD Cowen reaffirmed an outperform rating and raised its price target. Nvidia’s recent introduction of its Blackwell platform reinforced its compute leadership, according to the bank.
Chewy — After providing weak guidance for the current quarter, shares of pet products retailer Chewy dropped 2%. The company’s first-quarter revenue forecast falls short of LSEG’s analyst expectations.
Five Below — Shares of the discount retailer plunged 13% after missing earnings and revenue targets in the fourth quarter. It also provided weak guidance for the current quarter and the entire year.
Guess — Following an adjusted earning report of $2.01 per share, beating LSEG’s expectation of $1.56, shares of clothing designer Guess surged almost 12%.
Darden Restaurants — The proprietor of Olive Garden and LongHorn Steakhouse experienced a 4% drop in shares after falling short of revenue estimations. Darden Restaurants also authorized a new share buyback program worth $1 billion.
