Premarket Stock Movements: Micron, Forte Biosciences, ExxonMobil, Baker Hughes Among Top Movers
Memory stocks saw significant gains in premarket trading as Chinese chipmaker CXMT surged over 466% on its Shanghai debut. This momentum extended to U.S.-listed memory names like SK Hynix (+4.7%) and SanDisk (+3.6%), with Micron Technology rising by 2.5%. Energy stocks declined following a drop in oil prices after the U.S. and Iran agreed to pause attacks, dragging down Chevron (-2.7%) and ExxonMobil (-3.2%). Forte Biosciences surged over 39% as it announced an acquisition deal with Argenx for $2.2 billion or $77 per share, a premium of about 40%. Baker Hughes shares rose nearly 2.2% after reporting better-than-expected Q2 earnings and revenue. CEO Lorenzo Simonelli noted favorable fundamentals despite Middle East uncertainties.
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Topics: acquisition_announcement earnings_report stock_moves