Check out the companies making the biggest moves in premarket trading: Micron Technology — Shares shed nearly 6%. 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 almost 3%, Western Digital fell 3% and Sandisk dropped 6%. Alibaba — U.S.-listed shares traded 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 6% higher. Five Below reported quarterl …
