XPeng achieved a remarkable milestone by delivering over 60,000 units of its flagship P7 electric sedans in 2021.
XPeng, Inc.
Take a look at the noteworthy stocks making waves in midday trading.
Strategic Education — The education company’s stock surged 3% after Bank of America upgraded it from neutral to buy. The firm expressed optimism about the company’s future earnings potential.
Xpeng — The electric car manufacturer’s stock dropped 5% following the announcement of a larger-than-expected loss in the second quarter. XPeng reported a loss of 2.8 billion yuan, surpassing analysts’ estimate of 2.13 billion yuan. Nevertheless, the company met revenue expectations with 5.06 billion yuan.
Ross Stores — The discount retailer saw a 6% surge in its stock price after surpassing earnings expectations in the second quarter. Ross Stores reported earnings per share of $1.32, exceeding analysts’ forecast of $1.16. Revenue also beat consensus estimates at $4.93 billion, compared to the expected $4.75 billion.
Blue Bird — The school bus manufacturer’s stock soared 4% as Bank of America initiated coverage of the company with a buy rating. The firm emphasized Blue Bird’s potential to lead the market in bus electrification.
Keysight Technologies — Shares of the electronic design company plummeted 12% due to a disappointing fiscal fourth-quarter outlook. The company forecasted adjusted earnings per share in the range of $1.83 to $1.89, along with revenue of $1.29 billion to $1.31 billion. The market was expecting an adjusted $2 per share on $1.39 billion in revenue.
Estee Lauder — The cosmetics company experienced a 2% decline in its stock price after providing lower-than-expected guidance for the fiscal first quarter. Estee Lauder anticipates an adjusted loss of 31 cents to 21 cents per share, while analysts estimated earnings of 98 cents per share.
Nvidia — The chipmaker and AI leader experienced a slight 1% decline in midday trading. Nvidia is set to report its quarterly results next Wednesday, with analysts predicting adjusted earnings of $2.08 per share on $11.1 billion in revenue.
Alibaba, JD.com, PDD, Nio — Several Chinese companies witnessed a decline in their stock prices as uncertainty around the country’s property market troubles impacted investor sentiment. Alibaba saw a drop of almost 3%, while JD.com fell approximately 5%. Nio slipped 5.9%, and PDD experienced a nearly 4% decrease.
Deere – Despite surpassing expectations for both revenue and earnings in the fiscal third quarter, shares of the farm equipment giant dropped more than 3%. Deere reported earnings of $10.20 per share on revenue of $15.8 billion, beating analysts’ estimates of $8.20 per share and $14.25 billion in revenue, respectively.
— CNBC’s Alex Harring and Michelle Fox contributed to this report.
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