Stocks making the biggest moves premarket: Micron, Alibaba, Five Blow, Newmont and more

Check out the companies making the biggest moves in premarket trading: Micron Technology — Shares shed nearly 7%. Micron reported a blowout quarter , with its adjusted earnings of $12.20 per share handily topping the $9.31 consensus estimate, per LSEG. Its revenue was $23.86 billion, compared to the $20.07 billion expected from analysts. Investors may have focused on comments about increased spending to ramp up output. The stock is up more than 350% in the past 12 months. Memory stocks — Several memory companies fell following Micron’s earnings. Seagate Technology slipped 2.6%, Western Digital fell 3.5% and Sandisk dropped 6%. Alibaba — U.S.-listed shares traded 4.5% lower in the premarket after the company reported weaker-than-expected fourth-quarter results . The e-commerce giant’s top line came in at 284.8 billion yuan, below an LSEG estimate of 290.7 billion yuan. Net income, meanwhile, tumbled 66% year on year to 15.6 billion yuan. Align Technology — The maker of Invisalign products jumped 7% following a report that Elliott Investment Management built a significant stake in the company. The activist wants to look for ways to boost the stock price, Bloomberg said, citing people familiar with the matter. Five Below — The retailer’s fourth-quarter results and first-quarter guidance beat Wall Street’s expectations, sending shares 7% higher. Five Below reported quarterly adjusted earnings of $4.31 per share on revenue of $1.73 billion. Analysts polled by LSEG had expected EPS of $4 on revenue of $1.71 billion. The company guided for adjusted EPS for the first quarter to come between $1.57 and $1.69 per share, versus the 96 cents per share consensus estimate. Mining stocks — Silver and gold miners tumbled alongside the selloff in the precious metals. Newmont , First Majestic Silver , Kinross Gold and Coeur Mining all dropped nearly 8%. Anglogold Ashanti sank 10.5%. — CNBC’s Fred Imbert contributed reporting.