By Ben Glickman

Micron Technology issued a better-than-expected outlook for the current quarter, forecasting a sharp rise in revenue. The memory-chip maker said strong pricing and demand for chips to support artificial intelligence boosted results in the fiscal first quarter, with the company reporting a narrower-than-expected loss. Shares rose 4.3%, to $82.11, after-hours.

Warner Bros. Discovery Chief Executive David Zaslav met with Paramount CEO Bob Bakish this week and discussed a possible merger, though no formal talks between the companies are under way. Warner Bros. Discovery shares fell 1.6% after-hours, while Paramount shares sank 1.7%.

Calliditas Therapeutics received full approval from the U.S. Food and Drug Adminstration for Tarpeyo as a treatment for patients with primary immunoglobulin A nephropathy. The treatment is the first fully FDA-approved treatment for IgAN, a disease in the kidneys, based on a measure of kidney function, the company said. Shares rose 25%, to $28, after-hours.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

December 20, 2023 18:45 ET (23:45 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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