Stocks making the biggest moves premarket: Alibaba, EchoStar, Micron & more

Check out the companies making the biggest moves premarket: EchoStar — Shares rose nearly 4.5% after the Federal Communications Commission approved the company's $40 billion sale of wireless spectrum to AT & T and SpaceX. The company is selling 50 megahertz of its spectrum to AT & T and 65 megahertz to SpaceX. Alibaba — U.S.-listed shares of the Chinese e-commerce giant fell 3% after the company posted an 84% plunge in Q1 profit. Alibaba also reported heavy investments in AI. Nextpower — The energy stock surged 14% after Nextpower raised its full-year revenue guidance to a range of $3.8 billion to $4.1 billion, while previously it had estimated a range of between $3.6 billion to $3.8 billion. The company also posted a fiscal fourth-quarter adjusted earnings and revenue beat versus analysts' expectations, per FactSet. Birkenstock — The shoe designer and manufacturer fell more than 5.5% after it missed estimates on both earnings and revenue in its fiscal second-quarter financial report. War in the Middle East weighed on growth in the Europe, Middle East and Africa region, the company said. Karman — Shares fell nearly 8% after the aerospace and defense company posted fiscal first-quarter adjusted earnings of 11 cents per share, while analysts polled by FactSet were expecting 12 cents. On the other hand, Karman's revenue and adjusted EBITDA for the last quarter came in above forecasts. …