24H | Micron Surges 9%; SanDisk Jumps 4%; Cannabis Stocks Shine; Coinbase Rises 1%; Instacart Sinks 6%; Insmed Tumbles 22%

Micron Technology forecast second-quarter adjusted profit at nearly double what Wall Street analysts expected, buoyed by soaring prices for memory chips spurred by tight supplies and booming demand from artificial intelligence data centers. The shares jumped 9% in overnight trading.

Other Memory-chip peers also gained in overnight trading. SanDisk rose 4.4%; Western Digital rose 2.7%.

U.S. President Donald Trump is expected to sign an executive order on Thursday reclassifying marijuana to ease federal restrictions, according to CNN, which cited a source familiar with the planning and a senior White House official. Cannabis stocks and ETFs jumped in overnight trading. Canopy Growth rose 13%; Village Farms rose 10%; Cronos and AdvisorShares Pure US Cannabis ETF rose 6%; Tilray rose 5%; SNDL rose 3%; Amplify Alternative Harvest ETF rose 2%.

Coinbase said it will start letting users trade stocks and event contracts tied to real-world outcomes, as the exchange expands beyond its crypto roots to compete more directly with rivals. The shares rose 1.4% in overnight trading.

The U.S. Federal Trade Commission is probing Instacart, two sources familiar with the matter told Reuters, as the retail platform faces criticism over its artificial intelligence-driven pricing tool. The shares dropped 6% in overnight trading.

Insmed said it had discontinued the development of its experimental anti-inflammatory drug to treat a chronic sinus condition after it failed to show benefit in a mid-stage study, sending its shares down 21.9% in overnight trading.