PDD Holdings, Daqo New Energy And Other Big Stocks Moving Lower In Monday's Pre-Market Session

Author: Avi Kapoor | August 26, 2024 08:25am

U.S. stock futures were mixed this morning, with the Dow futures gaining around 0.1% on Monday.

Shares of PDD Holdings Inc – ADR (NASDAQ:PDD) fell sharply in today's pre-market trading after the company reported second-quarter revenue miss.

PDD reported fiscal second-quarter 2024 revenue growth of 86% year-on-year to $13.36 billion (97.06 billion Chinese yuan), missing the analyst consensus estimate of $14.02 billion. The Chinese online retailer's adjusted earnings per ADS of $3.20 (23.24 Chinese yuan) increased from 10.47 Chinese yuan Y/Y, beating the analyst consensus estimate of $2.73.

PDD shares dipped 15.2% to $118.65 in pre-market trading.

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

SM Energy Co (NYSE:SM) fell 7.5% to $42.42 in pre-market trading after gaining over 3% on Friday.
Westlake Chemical Partners LP (NYSE:WLKP) shares dipped 5.4% to $21.50 in pre-market trading.
AngioDynamics, Inc. (NASDAQ:ANGO) shares fell 5.1% to $7.29 in pre-market trading.
Daqo New Energy Corp (NYSE:DQ) shares declined 5.1% to $14.43 in pre-market trading after reporting downbeat quarterly results.
Yiren Digital Ltd – ADR (NYSE:YRD) shares fell 4.6% to $4.63 in pre-market trading.
elf Beauty Inc (NYSE:ELF) shares declined 3.8% to $164.50 in pre-market trading.
Guardant Health Inc (NASDAQ:GH) shares fell 3% to $28.20 in pre-market trading after gaining 4% on Friday.