Vipshop, Hesai Group And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

Author: Avi Kapoor | August 20, 2024 08:16am

U.S. stock futures were mixed this morning, with the S&P 500 futures gaining around 0.1% on Tuesday.

Shares of Vipshop Holdings Limited (NYSE:VIPS) fell sharply in today's pre-market trading after reporting second-quarter results.

Vipshop reported second-quarter sales of $3.7 billion, down by 3.6% year-on-year, which topped the Wall Street view of $3.66 billion. Vipshop Holdings registered adjusted earnings per ADS of 54 cents, which aligns with the analyst consensus.

For the third quarter of 2024, the company expects its total net revenues to be between RMB20.5 billion-RMB21.6 billion, representing a year-over-year decrease of approximately 10%-5% versus consensus of RMB22.9 billion.

Vipshop shares dipped 7.2% to $13.00 in pre-market trading.

Here are some big stocks recording losses in today's pre-market trading session.

Jiayin Group Inc. (NASDAQ:JFIN) shares declined 6.9% to $5.65 in pre-market trading.
ATRenew Inc. (NYSE:RERE) shares fell 6.7% to $2.65 in pre-market trading following second-quarter results.
Sasol Limited (NYSE:SSL) shares fell 4.8% to $7.20 in pre-market trading after the company reported financial results for the year ended 30 June, 2024.
ExlService Holdings, Inc. (NASDAQ:EXLS) shares fell 4% to $34.04 in pre-market trading.
Hesai Group (NASDAQ:HSAI) shares slipped 3.8% to $4.36 in pre-market trading following second-quarter results.
Alvotech (NASDAQ:ALVO) shares declined 3.4% to $12.55 in pre-market trading. Alvotech, last week, reported a year-over-year increase in H1 financial results.
Rezolve AI Limited (NASDAQ:RZLV) declined 2.4% to $8.00 in pre-market trading after dipping over 18% on Monday.