Midday movers: PDD Holdings, NVIDIA fall; Xpeng gains
Investing.com -- U.S. stock futures were mixed Monday, with strength in the Dow and weakness in the Nasdaq and S&P 500, ahead of results from AI bellwether NVIDIA (NASDAQ: NVDA) later this week.
Here are some of the biggest U.S. stock movers today:
Daqo New Energy (NYSE: DQ) shares were down around 1% after the polysilicon maker reported a loss in its second quarter, compared to prior year's profit, on sharply lower revenues.
Guardant Health (NASDAQ: GH) shares were down approximately 10% after filing an open-market agreement to sell as much as $400 million in shares via Jefferies.
PDD Holdings (NASDAQ: PDD) shares dropped as much as 39% after reporting weaker-than-expected sales, indicating that Temu’s growth is falling short of investors lofty expectations.
SolarEdge Technologies (NASDAQ: SEDG) saw shares fall 9% after CEO Zvi Lando announced that he is stepping down.
Xpeng (NYSE: XPEV) shares were up 9% after the Chinese electric-car maker said chairman and CEO He Xiaopeng had purchased one million Class A shares of the company in the open market at an average of HK$27.13 each, according to a Hong Kong stock exchange announcement Monday.
NVIDIA (NASDAQ: NVDA) declined 2% ahead of its second results on Wednesday. Shares of AMD (NASDAQ: AMD), Broadcom (NASDAQ: AVGO) and Super Micro Computer (NASDAQ: SMCI) were also lower.
CAVA Group (NYSE: CAVA) rose 4%, adding to last weeks gain following strong results and guidance, as more analysts raised their price target on the stock.
Additional reporting by Louis Juricic