Check out the companies making the biggest moves in pre-market trading: Micron Technology — Shares fell nearly 6%. Micron reported strong quarterly results, with adjusted earnings of $12.20 per share easily beating consensus estimates of $9.31, according to LSEG. Sales came in at $23.86 billion, compared to analysts’ expectations of $20.07 billion. Investors may have taken note of comments about increased spending to expand production. The stock price has increased more than 350% in the past 12 months. Memory stocks — Several memory companies fell after Micron’s financial results. Seagate Technology fell nearly 3%, Western Digital fell 3% and SanDisk fell 6%. Alibaba — U.S.-listed shares fell 5% in premarket after the company reported weaker-than-expected fourth-quarter results. The e-commerce giant’s revenue was 284.8 billion yuan, lower than LSEG’s estimate of 290.7 billion yuan. Meanwhile, net profit fell 66% year-on-year to 15.6 billion yuan. Align Technology — The maker of Invisalign products soared 7% after reports that Elliott Investment Management had acquired a significant stake in the company. Bloomberg, citing people familiar with the matter, said the activist wants to find ways to boost the stock price. 5 Down — The company’s fourth-quarter results and first-quarter outlook beat Wall Street expectations, sending the stock up 6%. Five Below reported quarterly adjusted earnings of $4.31 per share on revenue of $1.73 billion. Analyst estimates compiled by LSEG were for EPS of $4 and revenue of $1.71 billion. The company provided guidance against the consensus estimate of 96 cents per share for first-quarter adjusted EPS of $1.57 to $1.69 per share. Mining stocks — Silver and gold mining companies also fell as precious metals fell. Newmont, First Majestic Silver, Kinross Gold and Cool Mining all fell about 9%. AngloGold Ashant i fell 12%. Copper miners — Copper miners’ stock prices also fell as copper futures prices fell. Southern Copper and Freeport-McMoRan both fell 5%. Rio Tinto fell 6% and BHP Group fell 4%. Liquefied Natural Gas Exporters — Shares of U.S. LNG exporters rose as crude oil prices continued to rise. NextDecade rose nearly 2%, Venture Global rose about 8% and Cheniere Energy rose nearly 2%. Red Cat — Drone stock fell nearly 4% after disappointing fourth-quarter results. Red Cat’s loss was 17 cents a share, 2 cents more than analysts surveyed by FactSet expected. DLocal — U.S.-listed shares of the Uruguay-based fintech payments company rose 10% after hitting a new high in the fourth quarter. DLocal reported revenue of $337.9 million, compared to the FactSet consensus estimate of $296.3 million. Earnings per share were 18 cents, in line with expectations. Fertilizer stocks — Shares of fertilizer companies rose after a Reuters report that China is restricting fertilizer imports. CF Industries rose 3%, Mosaic rose nearly a percentage point and Intrepid Potash rose 2%. — CNBC’s Fred Imbert contributed reporting. Correction: “Five Below” was misspelled in the previous heading.
