Micron Technology’s 17% jump after strong earnings and guidance boosts premarket sentiment before key inflation figures.
U.S. stock futures rose slightly Thursday, driven by Micron Technology’s earnings beat and upbeat guidance, which sent its shares up 17%. Investors awaited May inflation data for clues on Federal Reserve rate cuts.
Micron’s results surpassed expectations, with improved demand for memory chips supporting revenue projections. Wendy’s shares climbed due to a retail-driven short squeeze, while Qualcomm gained on robust revenue targets in data center and automotive sectors.
ARS Pharmaceuticals fell after its nasal spray failed to secure new coverage, and Alibaba declined amid allegations of unauthorized AI model access.