Stocks making the biggest moves premarket: MU, QCOMM, IBM, WEN
Check out the companies making the biggest moves in premarket trading: Micron — The memory chipmaker soared 18.5% after its third-quarter earnings blew past expectations. Micron saw adjusted earnings of $25.11 per share, topping the $20.78 expected from analysts polled by LSEG. The company’s revenue quadrupled to $41.46 billion from $9.3 billion a year prior. Analysts had expected revenue of $35.85 billion. Qualcomm — Shares jumped 11% after the semiconductor builder nearly doubled its projection for 2029 non-handset revenue to $40 billion, up from a prior forecast of $22 billion. The company is also targeting $15 billion in data center sales for the same year. Memory stocks — Shares of memory companies also moved higher. Sandisk jumped 15.6%, and Western Digital rose 13%. Lam Research added 6%. IBM — The stock gained 3% after IBM unveiled what it calls the first technology capable of making chips smaller than one nanometer. The company said the chip will offer a substantial leap in capability to supercharge compute for applications including generative artificial intelligence and cloud infrastructure. Wendy’s — Shares popped 13%, adding to their more than 25% rally from the previous session , as retail enthusiasm continues to drive gains in the fast food chain. Thursday’s advance puts the stock up nearly 32% for the week. Darden Restaurants — The restaurant company shed 3.4% following its mixed fiscal fourth quarter results and weak guidance. Its quarterly adjusted earnings topped expectations, while its revenue fell short. Darden’s full-year EPS of $11.10 to $11.35 per share missed the FactSet consensus estimate of $11.39 per share. Its sales forecast of $13.60 billion to $13.75 billion was largely shy of the $13.71 billion consensus estimate, per FactSet. Trip.com — U.S.-listed shares of the Singapore-based online travel agency sank 12% after its fourth-quarter adjusted earnings and revenue missed expectations. Bio-Techne — The life sciences company agreed to be acquired by drugmaker Merck for $73 per share. The stock rallied 20%. Dollar Tree — The discount retailer dropped 3.6% after it said a major shareholder is selling shares in a block trade to JPMorgan and Goldman Sachs. Dollar Tree said it will repurchase $500 million of its stock from Goldman after the black trade is completed. McCormick — The spice company reported second-quarter adjusted earnings of 80 cents per share, topping the 69 cents expected from analysts polled by LSEG. Revenue came in at $1.94 billion, above the $1.91 billion consensus estimate. The stock gained 3%. — CNBC’s Fred Imbert contributed reporting.
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