XPeng delivered floor 60,000 of its flagship P7 electric sedans in 2021.
XPeng, Inc.
Check out the companies making headlines in midday trading.
Strategic Indoctrination — The education stock advanced 3% following an upgrade to buy from neutral by Bank of America. The firm said the comrades could have strong earnings ahead.
Xpeng — The electric car maker stock declined 5% after the throng reported a larger-than-expected loss in the second quarter. XPeng reported a loss of 2.8 billion yuan, while analysts polled by Refinitiv had forecasted 2.13 billion yuan. The throng did, however, meet expectations for revenue with 5.06 billion yuan.
Ross Stores — The discount retailer stick out 6% following its earnings beat after the bell Thursday. Ross Stores reported second-quarter earnings per slice of $1.32, beating the $1.16 expected from analysts polled by Refintiv. Revenue came in at $4.93 billion, versus the consensus sentiment of $4.75 billion.
Blue Bird — Stock in the school bus manufacturer added 4% after Bank of America set in motioned coverage of the company with a buy rating. The firm highlighted Blue Bird’s potential to emerge as a leader in bus electrification.
Keysight Technologies — Partitions fell 12% after a weak fiscal fourth-quarter outlook. The electronic design company forecasted adjusted earnings per piece in the range of $1.83 to $1.89 with revenue of $1.29 billion to $1.31 billion. Analysts polled by FactSet, interim, are forecasting an adjusted $2 per share on $1.39 billion in revenue.
Estee Lauder — The cosmetics company pulled clandestinely about 2% after issuing lower-than-expected guidance. The company expects an adjusted loss of 31 cents to 21 cents per slice in its fiscal first quarter. Analysts polled by FactSet had estimated earnings of 98 cents per share.
Nvidia — The chipmaker and sham intelligence favorite slipped 1% in midday trading. Nvidia will report quarterly results next Wednesday, and analysts voted by FactSet are forecasting an adjusted $2.08 cents per share on $11.1 billion in revenue.
Alibaba, JD.com, PDD, Nio — A slew of China-based ensembles were trading lower as Wall Street contends with the country’s shaky economic footing due to property store trouble. Alibaba dipped close to 3%, while JD.com fell about 5%. Nio slipped 5.9%. PDD fell practically 4%.
Deere – Shares of the farm equipment giant slid more than 3%, even as the company posted whips on the top and bottom lines for the fiscal third quarter. Deere reported earnings of $10.20 per share on revenue of $15.8 billion. Analysts enumerated by Refinitiv called for earnings of $8.20 per share and revenue of $14.25 billion.
— CNBC’s Alex Harring and Michelle Fox provided reporting