Premarket movers: Mag 7 stocks are mixed (Tesla +1%, Nvidia +0.9%, Meta little changed, Microsoft -0.1%, Alphabet -0.07%, Amazon -0.3%, Apple -0.5%). MP Materials (MP) soars 42% after the company struck a multi-billion dollar public-private deal with the US Department of Defense to build a new magnet plant and expand rare earth capabilities, backed by $400m in equity and a $1b loan commitment. Conagra Brands (CAG) falls 4% after the packaged food manufacturer posted 4Q sales that disappointed. Delta Air Lines Inc. (DAL) rises 12% after the carrier issued a new profit target for this year after pulling the goal three months ago. Embraer (ERJ) ADRs fall 6% after President Donald Trump said he will impose 50% tariffs on goods from Brazil. Mach Natural Resources (MNR) shares are halted for news pending. Mereo BioPharma Group (MREO) US-traded shares slide 34% and partner Ultragenyx Pharmaceuticals (RARE) drops 22% following a disappointing trial update for an experimental drug aimed at treating a bone disorder called osteogenesis imperfecta. WK Kellogg (KLG) rises 51%, with Ferrero International SA said to be nearing a deal to acquire it for about 3 billion. Shares first jumped after the WSJ reported Wednesday that the two companies are nearing a deal.