Premarket movers: Mag 7 names are all higher: Meta rises 2% after Reuters reported that the social media giant is planning layoffs that could affect 20% or more of the company (Nvidia +1%, Tesla +0.9%, Apple +0.3%, Microsoft +0.6%, Amazon +0.5%, Alphabet +0.1%). Micron Technology (MU) climbs 4% — lifting other memory and storage companies — as analyst optimism grows ahead of the chipmaker’s results later this week. Nebius shares jumped 15% in premarket trading after Meta said it will pay as much as $27 billion over the next five years for access to artificial intelligence infrastructure from the cloud provider National Storage Affiliates Trust (NSA) rises 25% after agreeing to be purchased by Public Storage Operating Co. Sable Offshore Group (SOC) rises 6% after the energy company said it restarted oil transportation at its California pipeline after the Trump administration invoked the Defense Production Act.(zerohedge)