Morning Movers: Trump Media surges following $6B merger agreement

Stock futures are pointing higher in early action as investors react to the release of the delayed November Consumer Price Index inflation report and other key economic data. Futures have been lifted in part by strong earnings and guidance from chipmaker Micron Technology, which helped ease some of the pressure tech shares have faced amid AI valuation concerns.

Traders are closely watching not only CPI but also jobless claims and regional manufacturing surveys, all of which could influence how the Federal Reserve views inflation and growth heading into 2026.

While Micron’s report has lifted sentiment in memory and chip stocks, other AI-linked names have struggled this week, contributing to volatility and sector rotation. 

In pre-market trading, S&P 500 futures rose 0.83%, Nasdaq futures rose 1.41% and Dow futures rose 0.53%.

Check out this morning’s top movers from around Wall Street, compiled by The Fly. 

HIGHER –

• Sable Offshore (SOC) up 49% after disclosing that the U.S. Department of Transportation confirmed the company’s November 26 determination that the company’s pipeline connecting the Santa Ynez Unit to the Pentland Station terminal in Kern County, California constitutes an interstate pipeline facility under the Pipeline Safety Act, pursuant to which PHMSA is vested with exclusive regulatory authority over interstate pipelines
• Trump Media (DJT) up 25% after the company and TAE Technologies announced the signing of a definitive merger agreement to combine in an all-stock transaction valued at more than $6B
• Lululemon (LULU) up 7% after The Wall Street Journal reported Elliott Investment Management has accumulated a stake of over $1B in the company

UP AFTER EARNINGS –

• FuelCell (FCEL) up 14%
• Micron (MU) up 14%
• Darden (DRI) up 5%

DOWN AFTER EARNINGS –

• CarMax (KMX) down 9%
• Birkenstock (BIRK) down 9%
• Accenture (ACN) down 4%
• FactSet (FDS) down 1%