Micron, RIM, Amazon: Tech Premarket
NEW YORK (TheStreet) -- Micron (MU) shares surged 5.39% to $6.31 in premarket trading on Monday after the semiconductor specialist became a major Apple (AAPL) supplier thanks to a $2.5 billion deal for bankrupt Japanese chip maker Elpida.
The Boise, Idaho-based company also announced that it would buy a 24% stake in Taiwanese chipmaker Rexchip Electronics. Thanks to the deals, Micron will roughly double its capacity to make DRAM chips and strengthen its relationship with Apple.
Research In Motion (RIMM) was another gainer on Monday, climbing 1.35% to $7.49 before market open.
The embattled Canadian handset maker, which saw its shares tank on weaker-than-anticipated first-quarter results last week, was also one of the most active premarket Nasdaq stocks on share volume of 330,267.
Amazon (AMZN) shares crept up 0.2% to $228.8 before market open on Monday. The Internet giant's Web Services division suffered an outage over the weekend when an East Coast storm knocked out servers for hours. Amazon Web Services customers Netflix (NFLX), Instagram and Pinterest used Twitter and Facebook (FB) to update subscribers on the outage, according to The Associated Press, with Netflix and Pinterest restoring service by Saturday afternoon. The Associated Press reported on Saturday that Instagram engineers were working to restore the service, but that no data was lost. By Sunday, some Instagram customers in the Washington area could share photos on the Web via their cellphones before their electricity and water was restored, according to The New York Times. Instagram has not yet responded to TheStreet's request for information on this story. --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: tips@thestreet.com. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.Select the service that is right for you!
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