Today's Morning Movers and Top Ratings: AFRM, BA, PDD, GOOS and More
Morning Movers
Gapping up
$Affirm Holdings(AFRM.US$ stock rose 4.9% with the buy now, pay later company expected to benefit from strong Cyber Monday sales.
$PDD Holdings(PDD.US$ shares surged 14.6% in premarket U.S. trading on Tuesday after the group posted better than anticipated sales in the third quarter.
Revenue at the company came in at 68.84 billion yuan ($9.44B) in the three months ended Sept. 30, topping Bloomberg consensus estimates of 54.87 billion yuan.
The results come as PDD's Temu e-commerce app, which offers heavily discounted items that are shipped to customers directly from China, has seen a surge in popularity since it was launched in 2022.
$MercadoLibre(MELI.US$ shares rose by 0.42% in premarket trading. Bank of America analysts raised the recommendation on Mercadolibre stock to Buy from Neutral, citing great Black Friday performance. The price target has been raised by as much as $650 to $2000 per share.
Mercarolibre's early Black Friday data points to “strong momentum,” said the analysts. Moreover, MercadoLibre reported a robust 39% year-on-year growth in Brazilian GMV for the month of November to date. In Mexico, MELI disclosed a significant 40% GMV growth during its Buen Fin promotional event.
$Canada Goose(GOOS.US$ stock rose 2.9% after the company which makes primarily winter clothing acquired its first European manufacturing plant in Romania.
$General Motors(GM.US$ stock rose 0.3% after the Financial Times reported that the auto giant will scale back spending on its self-driving unit Cruise, after a pedestrian accident last month.
$Boeing(BA.US$ stock rose 1.6% after RBC Capital Markets upgraded the aerospace company to ‘outperform’ from ‘sector perform’, citing a “significant shift in sentiment”.
Gapping down
$Adobe(ADBE.US$ stock fell 0.8% after the U.K.'s competition regulator said the company's $20 billion Figma purchase raises competition concerns.
$Zscaler(ZS.US$ stock fell 6.6% after the cybersecurity company kept its full-year billings forecast unchanged even after it topped estimates with its results for the latest quarter.
Source: Investing.com
US Top Rating Updates on 11/28
Source: Dow Jones
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