Check out the companies making the biggest moves in premarket trading: Micron Technology — Shares shed nearly 6%. Micron reported a blowout quarter , with its adjusted earnings of $12.20 per share handily topping the $9.31 consensus estimate, per LSEG. Its revenue was $23.86 billion, compared to the $20.07 billion expected from analysts. Investors may have focused on comments about increased spending to ramp up output. The stock is up more than 350% in the past 12 months. Memory stocks — Several memory companies fell following Micron’s earnings. Seagate Technology slipped almost 3%, Western Digital fell 3% and Sandisk dropped 6%. Alibaba — U.S.-listed shares traded 5% lower in the premarket after the company reported weaker-than-expected fourth-quarter results . The e-commerce giant’s top line came in at 284.8 billion yuan, below an LSEG estimate of 290.7 billion yuan. Net income, meanwhile, tumbled 66% year on year to 15.6 billion yuan. Align Technology — The maker of Invisalign products jumped 7% following a report that Elliott Investment Management built a significant stake in the company. The activist wants to look for ways to boost the stock price, Bloomberg said, citing people familiar with the matter. Five Below — The retailer’s fourth-quarter results and first-quarter guidance beat Wall Street’s expectations, sending shares 6% higher. Five Below reported quarterly adjusted earnings of $4.31 per share on revenue of $1.73 billion. Analysts polled by LSEG had expected EPS of $4 on revenue of $1.71 billion. The company guided for adjusted EPS for the first quarter to come between $1.57 and $1.69 per share, versus the 96 cents per share consensus estimate. Mining stocks — Silver and gold miners tumbled alongside the selloff in the precious metals. Newmont , First Majestic Silver , Kinross Gold and Coeur Mining all dropped around 9%. Anglogold Ashant i sank 12%. Copper miners — Shares of copper miners also fell as the price of copper futures moved lower. Southern Copper and Freeport-McMoRan were both down 5%. Rio Tinto lost 6%, while BHP Group shed 4%. Liquefied natural gas exporters — Shares of U.S. LNG exporters rallied as the surge in oil prices continued. NextDecade rose nearly 2% and Venture Global jumped about 8%, while Cheniere Energy added nearly 2%. Red Cat — The drone stock lost nearly 4% following its disappointing fourth-quarter financial results. Red Cat lost 17 cents per share, 2 cents wider than what analysts polled by FactSet expected. DLocal — U.S.-listed shares of the Uruguay-based fintech payment company climbed 10% following its fourth-quarter beat on the top line. DLocal reported revenue of $337.9 million, compared to the FactSet consensus estimate of $296.3 million. Its earnings of 18 cents per share was in line with expectations. Fertilizer stocks — The stocks of fertilizer companies rose following a Reuters report that China is restricting its fertilizer imports. CF Industries gained 3%, Mosaic rose nearly % and Intrepid Potash added 2%. — CNBC’s Fred Imbert contributed reporting. Correction: A previous headline misspelled Five Below.
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