Premarket: Chip weakness follows China competition headlines; company updates include financing, closures and trial

WDC, MU, SNDK, SKHY, STX, DRAM and CIFR are cited amid chip-sector weakness following China competition headlines. FUN plans to close nine rides after a fatal incident in Georgia; S proposed a $1.25 billion convertible-note private placement. CIFR proposed $850 million of 0.00% convertible senior notes due 2032 and a concurrent exchange of notes due 2030. BNTX updated its Phase 2/3 trial of BNT113. DPZ, WFC and JNJ reported earnings, and Piper downgraded ASTS to Neutral.