Today's Morning Movers and Top Ratings: MU, AAPL, DRI, ACN and More

$Micron Technology(MU.US)$ stock soared 16%, on track for a record high, after the chipmaker posted a surprise profit and forecast strong current-quarter revenue on soaring demand for its memory chips used in AI computing.

$Guess(GES.US)$ stock rose 11% after the clothing retailer announced a profit for its fourth quarter that increased from last year and beat the Street estimates.

$Broadcom(AVGO.US)$ Before the opening bell, the shares surged by nearly 3% following an upgrade from TD Cowen to outperform early on Thursday. Analyst Matthew Ramsay accentuated the additional growth prospects stemming from the artificial intelligence sector as a key reason for the improved rating.

$Astera Labs(ALAB.US)$ Shares added nearly 2%, one day after debuting on the Nasdaq. Astera, which sells data center connectivity chips to cloud and artificial-intelligence infrastructure companies, surged 72% on its first day trading.

$NVIDIA(NVDA.US)$ 's shares experienced a 2% rise after TD Cowen reaffirmed its outperform rating on the leading producer of AI chips and raised its price target from $900 to $1,100. The firm cited Nvidia's unveiling of its newest Blackwell platform at the GTC conference as a reinforcement of the company's comprehensive compute leadership.

$Apple(AAPL.US)$ stock fell 1% after Bloomberg reported that the U.S. Department of Justice is preparing to sue the tech giant as soon as Thursday for allegedly violating antitrust laws by blocking rivals from accessing hardware and software features of its iPhone.

$Darden Restaurants(DRI.US)$ stock fell 4.4% after the group missed revenue expectations, as same-store sales shrank for the first time since the pandemic.

$Five Below(FIVE.US)$ stock fell 13% after the discount retailer missed quarterly expectations and posted weak guidance.

$Accenture(ACN.US)$ stock dropped 6.7% after the IT services provider cut its fiscal-year 2024 revenue forecast, as an uncertain economy prompts clients to cut spending on its consulting services.

$Designer Brands(DBI.US)$ stock fell 9.3% after the footwear and accessories discount retailer reported a fourth-quarter loss, even as the company's revenue slightly exceeded market estimates.

$Li Auto(LI.US)$ stock fell 8.7% after the China-based EV maker cut its first-quarter delivery outlook, citing “lower-than-expected order intake.”