Premarket Movers: Mag 7 stocks are mostly higher (Nvidia +0.4%, Amazon +0.6%, Meta +1.1%, Alphabet +0.6%, Tesla +0.6%, Apple -0.4%, Microsoft -0.3%). Chipmakers, opticals and storage firms rise, on track to extend gains, as the group rebounds in the wake of Friday’s sharp selloff. Lithium stocks rise as Citi remains bullish on the metal, seeing a recovery in prices after the recent selloff. Applied Digital (APLD) is up 11% after the neocloud company said it signed a 15-year take-or-pay lease with a US-based artificial intelligence hyperscaler, for 210 megawatts of critical IT load at its Delta Forge 2 campus. CECO Environmental Corp. (CECO) gains 13% as the manufacturer of water treatment equipment updated its full year outlook after closing Thermon Group Holdings acquisition. GDS Holdings ADRS (GDS) rise along with other Chinese cloud providers as people familiar with the matter said that China is preparing to spend around $295 billion over the next five years to build data centers across the country. Mission Produce (AVO) falls 2% after the avocado supplier reported adjusted earnings per share for the second quarter that missed the average analyst estimate. Nuvalent (NUVL) is up 39% after GSK agreed to acquire the company for $10.6 billion. The transaction will accelerate GSK’s entry into the lung cancer space and could help offset the looming patent expiry of its HIV drug dolutegravir, Barclays analyst James Gordon wrote in a note. Perrigo (PRGO) slips 1% after the company’s CEO Patrick Lockwood-Taylor resigned from both roles and from the board, following a determination that certain personal conduct was inconsistent with the company’s code of conduct and core values. SailPoint (SAIL) falls 13% after the software company’s quarterly results and outlook isn’t enough to extend recent strength in the stock, which is up nearly 70% off an April low as of last close. Vail Resorts (MTN) is down 4% after the ski resort operator cut its net income guidance for the full year, attributing the reduction to “historically challenging” weather conditions in the western US.