On this episode of Stock Movers:
- Shares of Trump Media & Technology Group Corp (DJT) soared ahead of the US market open after the company behind Truth Social announced that it agreed to merge with clean fusion energy company TAE Technologies in an all-stock transaction valued at more than $6 billion.
- Shares of Micron Technology (MU) moved higher in premarket trading after the company gave an upbeat forecast for the current quarter, a sign that surging demand and supply shortages are allowing the company to charge more for products. Fiscal second-quarter revenue will be $18.3 billion to $19.1 billion, the company said in a statement Wednesday. Analysts had estimated $14.4 billion on average for the period. Excluding some items, profit will be $8.22 to $8.62 a share, compared with a projection of $4.71. Micron is the largest US maker of computer memory chips.
- Shares of Lululemon Athletica (LULU) rallied after reports activist investor Elliott Investment Management has built a stake of more than $1 billion in the athleisure maker, according to people familiar. Elliott has been working for months with retail executive Jane Nielsen — a former chief financial officer and chief operating officer at Ralph Lauren — on Lululemon, said the person, who asked to remain unnamed as the matter is private.
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