These are the stocks posting the largest moves before the bell.
– The auto retailer's stock slumped 12.7% in the premarket after its quarterly profit and revenue fell well short of estimates. CarMax earned 24 cents per share, compared with a consensus estimate of 70 cents, and its comparable used-vehicle sales were down 22.4% versus FactSet's consensus forecast of a 16.
9% slide. – Micron shares fell 2.9% in premarket trading after the chip maker reported a wider-than-expected quarterly loss and revenue that fell short of Wall Street forecasts. Micron's results were impacted by declining demand for electronics, and the company announced it will cut about 10% of its workforce.
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Micron earnings: Memory-chip slowdown appears to be far from overMicron Technology Inc. shares have fallen more than 45% this year, but the memory-chip specialist is not out of the woods yet as demand continues to be weak.
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Micron sales dive nearly 50%, and decline is expected to get worse as layoffs plannedMicron reported a loss of $195 million, or 18 cents a share, versus net income of $2.31 billion, or $2.04 a share, in the year-ago period. $MU held steady in the extended session after the chip maker’s earnings fell short of Wall Street estimates:
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Micron sets 10% job cuts in 2023 due to 'supply-demand mismatch'Chipmaker Micron Technology Inc on Wednesday said it will lay off 10% of its workforce next year as it continues to cope with a glut in the semiconductor market.
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Semiconductor maker Micron announces 10% staff reduction, suspends bonusesMicron said that it would hit its reduction target through voluntary departures as well as layoffs.
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Stocks making the biggest moves midday: Gilead Sciences, Moderna, Tesla and moreThese are the stocks posting the largest moves midday.
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