Premarket Gainers: Micron (MU), HIVE Digital, and Alibaba (BABA) Rally on Monday

Key Highlights

Table of Contents

Micron shares advanced more than 3% following comments from a Trump administration official discouraging Apple from purchasing memory chips manufactured in China
HIVE Digital soared 8% on news of a $350 million GPU cloud services agreement with BUZZ HPC involving Nvidia Blackwell Ultra processors
Diana Shipping rallied as much as 10% after abandoning its acquisition proposal for Genco Shipping
Alibaba gained ground after announcing plans to divest its gaming division for a minimum of $1.5 billion to support artificial intelligence investments
L3Harris declined 2% following the immediate dismissal of its chairman and CEO over Code of Conduct violations

Stock index futures posted modest gains during Monday’s premarket session as market participants gravitated toward artificial intelligence sector equities ahead of what analysts anticipate will be a relatively calm trading week.

Micron advanced 3.4% before the opening bell after Commerce Secretary Howard Lutnick revealed to The Wall Street Journal that the administration opposes Apple sourcing memory components from Chinese manufacturers.

Micron Technology, Inc., MU

The statement provided momentum across the memory semiconductor industry. Sandisk jumped nearly 5%, while Seagate and Western Digital registered increases of approximately 2.6% and 3.7% respectively.

Additional semiconductor manufacturers experienced upward movement. Advanced Micro Devices, Intel, Marvell, Corning, Coherent, and Lumentum all traded higher during early action on artificial intelligence-driven enthusiasm.

Software Sector Retreats as Semiconductors Advance

Software companies headed in the opposite trajectory, following their typical inverse relationship with chip manufacturer performance. Oracle declined 1.3%, ServiceNow retreated 1.4%, Trade Desk lost 2.3%, and Workday dropped 2.8%.

Alibaba increased approximately 1% following the Chinese technology conglomerate’s announcement to divest its gaming operations for no less than $1.5 billion. The proceeds will be allocated toward expanding artificial intelligence capabilities.

Shipping Sector Activity

Diana Shipping surged up to 10% after officially withdrawing its proposal to purchase the outstanding shares of Genco Shipping and Trading. The parties were unable to reach mutually acceptable terms despite negotiations extending nearly twelve months.

Diana’s proposal consisted of $24.80 cash combined with one Diana share for each Genco share. Genco’s board had demanded $27.50 cash, additional dividends exceeding $2, and three Diana shares, valuing each Genco share at approximately $36.91.

Diana’s chief executive indicated the organization maintains its belief in the strategic rationale for merging with Genco and will continue monitoring the situation as the largest shareholder. Genco established an August 24 deadline for Diana’s response.

Genco stock declined 3.6% following the announcement.

HIVE Digital Technologies jumped 8% after its BUZZ HPC subsidiary executed a five-year GPU cloud computing agreement valued at approximately $350 million. The arrangement encompasses 2,016 Nvidia Blackwell Ultra GPUs and is projected to commence operations during Q4 2026 at HIVE’s Bell AI Fabric data center in British Columbia.

The agreement contributes roughly $70 million in annual revenue and elevates BUZZ HPC’s total yearly revenue to approximately $180 million. HIVE projects daily HPC and AI-related revenue will approach $500,000 following complete deployment.

Etsy rose about 2% after Goldman Sachs initiated research coverage with a Neutral rating and set an $89 price objective. Goldman referenced strengthening customer acquisition patterns expected in early 2026 after Etsy’s divestiture of Depop.

L3Harris fell 2% following the company’s unexpected replacement of chairman and CEO Christopher Kubasik with Sam Mehta. The board attributed the decision to behavior incompatible with corporate Code of Conduct standards, emphasizing the matter was unrelated to financial performance or operational matters. L3Harris maintained its full-year 2026 financial guidance.

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