Stock Movers

On this episode of Stock Movers:
- Unitree Robotics shares opened 629% higher in their Shanghai trading debut after raising 6.1 billion yuan ($904 million) in an initial public offering that will make it the first publicly traded humanoid robot maker in mainland China.
- Baidu shares slumped as much as 14.4% in Hong Kong, putting it on track for its worst day since 2022, after the Chinese search-engine operator’s revenue missed estimates and AI capex soared.
- Xiaomi shares rise as much as 5% in Hong Kong after it reported smartphone revenue that was better than feared despite a global industry downturn. Its EV unit came under pressure from intense competition in China with Bernstein analysts saying management has lowered its full year EV sales target to 450,000 units.

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On this episode of Stock Movers:

- Targa Resources (TRGP) shares rose as much as 9.8% to a record high after the energy company signed new 20-year, fee-based integrated midstream agreements with ExxonMobil subsidiaries covering gathering, processing, NGL transportation, and fractionation across the Permian Basin through 2046. Targa also announced a new 70-mile expansion of its planned Bull Run natural gas pipeline network in the Permian Basin region.

- Meta Platforms (META) is being sued by 29 states for allegedly deceiving the public by targeting children on Facebook and Instagram with technology designed to turn them into compulsive users and drive up advertising revenue. The states allege that Meta knowingly designed features that encouraged compulsive and prolonged use of its platforms by young people, while simultaneously misleading consumers about safety features on its platforms.

- Duolingo (DUOL) shares are up after D.A. Davidson upgraded the language learning platform to buy from neutral citing a “turning point” in acceleration of daily active user metrics.

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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:

Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Scarlet Fu, Isabelle Lee, Carol Massar and Joe Deaux

- Amylyx Pharmaceuticals (AMLX) shares climb as much as 43%, the most intraday since September 2022, after the drug developer said a late-stage trial of its experimental drug met its primary endpoint as a treatment for patients who experience dangerously low blood sugar levels following bariatric surgery. Stifel views the results as a “best-case scenario.”

- Targa Resources (TRGP) shares rose 6.9% after the energy company signed new 20-year, fee-based integrated midstream agreements with ExxonMobil subsidiaries covering gathering, processing, NGL transportation, and fractionation across the Permian Basin through 2046.

- Klarna (KLAR) shares are down more than 20% after the payments company reported full year revenue and gross merchandise value guidance that missed expectations. Active consumers for the second quarter also missed expectations.

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Today's biggest winners and losers in the stock market, a look at the notable movers:
On this episode of Stock Movers:

- Klarna (KLAR) shares are down more than 20% after the payments company reported full year revenue and gross merchandise value guidance that missed expectations. Active consumers for the second quarter also missed expectations.

- Home Depot (HD) results beat estimates in the latest quarter, a sign that spending on improvement projects is holding up despite high borrowing and housing costs. The company’s strategy, which includes expanding its business serving professional contractors and building out its e-commerce offerings, has helped to blunt the impact of a housing market weighed down by high home prices and interest rates. Home Depot experienced healthy demand across the US and product departments during the quarter, with portable power tools, live plants, and patio products being especially popular.

- Duolingo (DUOL) shares are up after D.A. Davidson upgraded the language learning platform to buy from neutral citing a “turning point” in acceleration of daily active user metrics.

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On this episode of Stock Movers:
- Amer Sports (AS) shares rise. The maker of Wilson tennis rackets and Salomon ski boots boosted its guidance for revenue growth and adjusted earnings per share for the full year.
- Amylyx (AMLX) shares climb as much as 43%, the most intraday since September 2022, after the drug developer said a late-stage trial of its experimental drug met its primary endpoint as a treatment for patients who experience dangerously low blood sugar levels following bariatric surgery. Stifel views the results as a “best-case scenario.”
- Klarna (KLAR) shares fell around after the payments company reported full year revenue and gross merchandise value guidance that missed expectations. Active consumers for the second quarter also missed expectations.

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On this episode of Stock Movers:
- Fabrinet (FN) shares fell. The process engineering and manufacturing services firm’s Datacom sales disappointed investors. The company also reported fourth-quarter results that beat expectations.
- Baidu (BIDU) ADRs fall. The Chinese search-engine operator reported its fifth quarter of free cash outflow in the past six, thanks to soaring capital expenditures. It also reported AI-powered revenue that was weaker than analysts expected.
- Klarna (KLAR) shares sink. The payments company slashed its full year revenue and gross merchandise value guidance, missing expectations. Active consumers for the second quarter also missed expectations. KBW said the key issue is the weaker second half outlook.

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Today's biggest winners and losers in the stock market.

On this episode of Stock Movers:

- Shares of Klarna (KLAR) plunged in premarket trading after the payments company reported full year revenue and gross merchandise value guidance that missed expectations. The company cited foreign exchange pressures and volumes in Germany, even as it reported a profit beat for the second straight quarter. The payments firm said in a statement that it expects between $4.08 billion and $4.16 billion of revenue this year, down from about $4.3 billion previously. Klarna said it had taken a “more measured view” of activity in Germany, its largest market by volumes. Active consumers for the second quarter also missed expectations. 

- Shares of Amylyx Pharmaceuticals (AMLX) extended its rally in the early session to as much as 54%, after the drug developer said a late-stage trial of its experimental drug met its primary endpoint as a treatment for patients who experience low blood sugar levels following bariatric surgery. Amylyx plans to submit a new drug application to the US Food & Drug Adminstration by end of 2026, targeting a potential commercial launch in 2027.

- Shares of Bath & Body Works (BBWI) surged ahead of the opening bell after Citi raised its recommendation on the stock to buy from neutral. Analyst Paul Lejuez cited a favorable risk/reward outlook in his note. The company is slated to release earnings next week.

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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Shares of Home Depot (HD) moved higher in the premarket session after posting an earnings beat in the latest quarter. Comparable sales, which measure results at stores open for at least a year, rose 1.7% during the period ended August 2nd, better than the average of analyst estimates and the highest since late 2022. Adjusted earnings also surpassed expectations. The stronger-than-expected report shows the company’s moves have helped to blunt the impact of a housing market that’s weighed down by high home prices and interest rates.
- US-listed shares of Baidu (BIDU) declined in early trading after the Chinese search-engine operator reported its fifth quarter of free cash outflow in the past six, thanks to soaring capital expenditures. Its revenue was shy of analyst estimates, dragged by underperformance at its subsidiary iQiyi. Advertising is still the company's profit engine but has been shrinking for two years, but it now accounts for less than half of sales compared with the peak of about 90%.
- US-listed shares of Alibaba (BABA) rallied ahead of Tuesday's opening bell after the launch of a new ecommerce platform boosted optimism toward the company before its June quarter earnings this week. Subsidiary Alipay rolled out a new “all-in-one” platform for businesses aimed at using AI agents to automate tasks. Alibaba shares have now rallied more than 40% from a low in June, rebounding from a selloff earlier this year.

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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Frasers Group lifted its stake in Germany’s Hugo Boss to nearly 48%, falling short of taking full control, after only 17.6% of investors accepted its takeover offer.
- Royal Unibrew reported EPS below estimates and sales in line with estimates. Trading volume was 376 times the average for this time of day.
- OXB drops as much as 1.3% after Deutsche Bank downgraded the stock to hold from buy, saying the “burden of proof has shifted firmly towards execution” following the “disappointing” 1H trading update.

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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Whitbread was upgraded to market perform from underperform at Bernstein, which says it’s “time to adopt a more constructive stance.”
- Royal Unibrew reported EPS below estimates and sales in line with estimates. Trading volume was 376 times the average for this time of day.
- H&M is placed on a 90-day positive catalyst watch at Citi ahead of the Swedish fashion retailer’s third-quarter results, which are expected to show resilience.

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