Today's Pre-Market Stock Movers: PDD, WYNN, BIIB, AAPL and More

Movers and Shakers wrote a column · Nov 28, 2022 21:20

Gapping up

$PDD Holdings (PDD.US)$ +14.2% (The China-based e-commerce platform beat top and bottom line estimates for its latest quarter, as more consumers to shop online. )

$Wynn Resorts (WYNN.US)$ +5.9%, $MGM Resorts International (MGM.US)$ +2.2%, $Melco Resorts and Entertainment (MLCO.US)$ +8%, $Las Vegas Sands (LVS.US)$ +3.2% (Casino stocks rallied in off-hours trading after the Chinese government granted the companies provisional licenses to continue operating in Macau. )

$Anheuser-Busch Inbev (BUD.US)$ +4.2% (Anheuser-Busch InBev received a double upgrade from J.P. Morgan Securities, which raised the beer brewer's stock to "overweight" from "underweight." The firm now sees the potential for earnings outperformance while also noting a rapidly improving balance sheet.)

$First Solar (FSLR.US)$ -2.6% (The solar company’s received a downgrade by J.P. Morgan to “neutral” from "overweight." J.P. Morgan's call notes the stock's outperformance since the announcement of the Inflation Reduction Act, which provided additional incentives for alternative energy.)

$Taboola Com (TBLA.US)$ +65.2% (The software company announced a 30-year agreement with Yahoo, under which Taboola will power native advertising on all Yahoo platforms.)

Gapping down

$Apple (AAPL.US)$ -1.7% (Apple could reportedly see a production shortfall of close to 6 million iPhone Pro models. A person familiar with assembly operations told Bloomberg that Apple and Foxconn do expect to be able to make up that shortfall in 2023.)

$Biogen (BIIB.US)$ -5.5% (Online publication Science.org reported that a woman participating in a trial of the experimental Alzheimer’s treatment lecanemab had recently died from a brain hemorrhage. The publication said the trial was sponsored by Biogen and Japanese pharmaceutical company Esai.)

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