Stocks making the biggest premarket moves: Micron, Paramount, Boeing, CarMax and more

Published Thu, Dec 21 20238:23 AM ESTUpdated Thu, Dec 21 202310:20 AM EST

Check out the companies making the biggest moves in premarket trading. Micron Technology — The chip stock jumped nearly 6% after the company beat earnings and revenue estimates postmarket Wednesday. Micron also gave strong guidance for its second quarter that beat analysts' expectations. Paramount Global — Shares shed 1.3% after CNBC, citing sources, reported the company is in early talks with Warner Bros. Discovery about a possible merger . Warner Bros was up less than 1%. Boeing — Shares added 1.7% following a report from trade publication The Air Current that said China's aviation regulator granted clearance to Boeing to resume deliveries of its 737 Max aircraft to the country. Separately, Reuters reported Boeing is ready to restart deliveries of its 737 Dreamliner to a privately owned Chinese carrier within days, citing sources. Salesforce — Shares added 1.5% after being upgraded by Morgan Stanley to overweight from equal weight. The bank said it sees a "bridge to better growth" in 2024, with data cloud a "key foundational layer" for generative artificial intelligence-related apps. Spotify — Shares of the streaming music company ticked up more than 2% after Pivotal Research upgraded Spotify to buy from hold. The investment firm said Spotify's recently announced change of chief financial officer could be a sign the company will focus more on generating free cash flow in the future. CarMax — The used car retailer popped about 7% after reporting an earnings beat before the bell. Earnings per share came in at 52 cents, versus the 42 cents expected from analysts polled by StreetAccount. CarMax also announced it would resume its share repurchase program. BlackBerry — The cybersecurity stock dropped more than 4% after BlackBerry gave fourth-quarter revenue guidance that came in lower than expected. However, it beat on both revenue and earnings for the third quarter. Cava — The Mediterranean restaurant chain added 2.6% following an upgrade by Wedbush to outperform from neutral. The firm said it expects another quarter of upside and believes Cava is positioned to overcome incremental headwinds from lower grocery inflation. The Cheesecake Factory — The restaurant chain rose 2.3% after it was upgraded by Wedbush to outperform from neutral. Wedbush cited The Cheesecake Factory's consistent transaction growth outperformance versus its peers as among the reasons for its call. — CNBC's Jesse Pound contributed reporting.