Check out the companies making the biggest moves in pre-market trading: Micron Technology — Shares fell nearly 7%. 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 2.6%, Western Digital fell 3.5% and SanDisk fell 6%. Alibaba — U.S.-listed shares fell 4.5% pre-market 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 7%. 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 nearly 8%. AngloGold Ashanti fell 10.5%. — CNBC’s Fred Imbert contributed reporting.
