Stocks making the biggest moves premarket: MU, SNDK, NEM
Check out the companies making the biggest moves in premarket trading: Memory stocks — Shares of memory chipmakers tumbled following the unveiling of Google’ s new AI model, which the company said could reduce the amount of memory required to run large language models. Sandisk dropped nearly 4%, Micron Technology , Western Digital and Seagate Technology each fell about 2%. Qualcomm — The chipmaker moved nearly 2% lower. Bernstein downgraded the stock to market perform from outperform, citing memory headwinds in the industry. Mining stocks — Shares of gold and silver miners fell alongside the drop in precious metal prices . First Majestic Silver shed about 5% and Coeur Mining and Hecla Mining both lost nearly 4%. Newmont and Freeport-McMoRan moved about 3% lower. Adobe — The software stock dipped 1.4% after William Blair downgraded Adobe to market perform from outperform, saying it’s unclear at this point whether the stock is an AI winner or loser. Navan — The travel tech firm soared 18% after guiding for strong revenue for 2027. Navan expects full-year revenue of between $866 million and $874 million, versus the FactSet consensus estimate of $840.8 million. The company’s fourth quarter adjusted earnings per share and revenue also topped Wall Street’s expectations. MillerKnoll — The furniture company plummeted 17.5% after posting fiscal third-quarter adjusted earnings of 43 cents on revenue of $926.6 million. That reflected a year-over-year decline of 2% for adjusted earnings and an increase of 6% for revenue. MillerKnoll warned of a roughly $8 million to $9 million impact in the fourth quarter tied to the Middle East conflict, stemming from minimal expected shipments to that part of the world as well as higher logistics costs. Snap — The stock slipped 1.3% after the European Union said it was investigating Snapchat for allegedly not doing enough to prevent child grooming and the sale of illegal goods. Worthington Steel — The steel processing company plunged nearly 13% in light trading after posting fiscal third-quarter adjusted earnings of 27 cents per share, marking a decline from the 35 cents per share earned in the year-ago period. — CNBC’s Sarah Min and Lisa Han contributed reporting.