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NIO Reports Q3 Results, Joins Hovnanian Enterprises, Signet Jewelers And Other Big Stocks Moving Higher On Tuesday

Published 05/12/2023, 15:04
Updated 05/12/2023, 16:10
© Reuters. NIO Reports Q3 Results, Joins Hovnanian Enterprises, Signet Jewelers And Other Big Stocks Moving Higher On Tuesday

Benzinga - by Lisa Levin, Benzinga Editor.

U.S. stocks traded mostly lower, with the Dow Jones index falling more than 100 points on Tuesday.

Shares of NIO Inc. (NYSE: NIO) moved higher during Tuesday’s session after the company reported third-quarter financial results and issued guidance.

Nio reported third-quarter revenue of 19.07 billion yuan ($2.61 billion), up by 46.6% year-over-year and 117.4% from the previous quarter. Analysts, on average, estimated revenue of $2.63 billion for the quarter.

Excluding share-based compensation expenses, the company reported a non-GAAP loss of 2.28 yuan ($0.31) compared to 2.11 yuan in the year-ago quarter and 3.28 yuan in the second quarter of 2023. Analysts had called for a loss of $0.43 per share.

NIO shares gained 6.2% to $7.78 on Tuesday.

Here are some other big stocks recording gains in today’s session.

  • XBP Europe Holdings, Inc. (NASDAQ: XBP) shares gained 24.7% to $47.40.
  • Travere Therapeutics, Inc. (NASDAQ: TVTX) jumped 24% to $7.80. Travere completes successful pre-NDA meeting for FILSPARI in IgAN. Citigroup upgraded Travere Therapeutics from Neutral to Buy and raised the price target from $7 to $10.
  • Gyre Therapeutics, Inc. (NASDAQ: GYRE) surged 15.5% to $18.56.
  • TeraWulf Inc. (NASDAQ: WULF) jumped 11% to $1.71 after the company announced November 2023 production and operations updates.
  • EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT) climbed 8.3% to $19.86.
  • Adecoagro S.A. (NYSE: AGRO) rose 7.7% to $11.88. B of A Securities upgraded Adecoagro from Neutral to Buy and raised the price target from $12.5 to $14.
  • Cerevel Therapeutics Holdings, Inc. (NASDAQ: CERE) gained 7.2% to $34.08.
  • GitLab Inc. (NASDAQ: GTLB) gained 6.8% to $56.55 after the company posted better-than-expected results for its third quarter and issued a strong forecast for FY24.
  • Hovnanian Enterprises, Inc. (NYSE: HOV) climbed 6.4% to $105.29 following fourth-quarter results.
  • XP Inc. (NASDAQ: XP) climbed 5.5% to $23.93 after JP Morgan upgraded the stock from Neutral to Overweight and raised its price target from $27 to $30.
  • Signet Jewelers Limited (NYSE: SIG) gained 4% to $88.06 following upbeat quarterly results.
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Now Read This: Block To Rally Around 54%? Here Are 10 Top Analyst Forecasts For Tuesday

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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