Stock Movers

On this episode of Stock Movers:
- Amer Sports (AS) shares rise. The maker of Wilson tennis rackets and Salomon ski boots boosted its guidance for revenue growth and adjusted earnings per share for the full year.
- Amylyx (AMLX) shares climb as much as 43%, the most intraday since September 2022, after the drug developer said a late-stage trial of its experimental drug met its primary endpoint as a treatment for patients who experience dangerously low blood sugar levels following bariatric surgery. Stifel views the results as a “best-case scenario.”
- Klarna (KLAR) shares fell around after the payments company reported full year revenue and gross merchandise value guidance that missed expectations. Active consumers for the second quarter also missed expectations.
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On this episode of Stock Movers:
- Fabrinet (FN) shares fell. The process engineering and manufacturing services firm’s Datacom sales disappointed investors. The company also reported fourth-quarter results that beat expectations.
- Baidu (BIDU) ADRs fall. The Chinese search-engine operator reported its fifth quarter of free cash outflow in the past six, thanks to soaring capital expenditures. It also reported AI-powered revenue that was weaker than analysts expected.
- Klarna (KLAR) shares sink. The payments company slashed its full year revenue and gross merchandise value guidance, missing expectations. Active consumers for the second quarter also missed expectations. KBW said the key issue is the weaker second half outlook.
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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Shares of Klarna (KLAR) plunged in premarket trading after the payments company reported full year revenue and gross merchandise value guidance that missed expectations. The company cited foreign exchange pressures and volumes in Germany, even as it reported a profit beat for the second straight quarter. The payments firm said in a statement that it expects between $4.08 billion and $4.16 billion of revenue this year, down from about $4.3 billion previously. Klarna said it had taken a “more measured view” of activity in Germany, its largest market by volumes. Active consumers for the second quarter also missed expectations.
- Shares of Amylyx Pharmaceuticals (AMLX) extended its rally in the early session to as much as 54%, after the drug developer said a late-stage trial of its experimental drug met its primary endpoint as a treatment for patients who experience low blood sugar levels following bariatric surgery. Amylyx plans to submit a new drug application to the US Food & Drug Adminstration by end of 2026, targeting a potential commercial launch in 2027.
- Shares of Bath & Body Works (BBWI) surged ahead of the opening bell after Citi raised its recommendation on the stock to buy from neutral. Analyst Paul Lejuez cited a favorable risk/reward outlook in his note. The company is slated to release earnings next week.
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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Shares of Home Depot (HD) moved higher in the premarket session after posting an earnings beat in the latest quarter. Comparable sales, which measure results at stores open for at least a year, rose 1.7% during the period ended August 2nd, better than the average of analyst estimates and the highest since late 2022. Adjusted earnings also surpassed expectations. The stronger-than-expected report shows the company’s moves have helped to blunt the impact of a housing market that’s weighed down by high home prices and interest rates.
- US-listed shares of Baidu (BIDU) declined in early trading after the Chinese search-engine operator reported its fifth quarter of free cash outflow in the past six, thanks to soaring capital expenditures. Its revenue was shy of analyst estimates, dragged by underperformance at its subsidiary iQiyi. Advertising is still the company's profit engine but has been shrinking for two years, but it now accounts for less than half of sales compared with the peak of about 90%.
- US-listed shares of Alibaba (BABA) rallied ahead of Tuesday's opening bell after the launch of a new ecommerce platform boosted optimism toward the company before its June quarter earnings this week. Subsidiary Alipay rolled out a new “all-in-one” platform for businesses aimed at using AI agents to automate tasks. Alibaba shares have now rallied more than 40% from a low in June, rebounding from a selloff earlier this year.
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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Frasers Group lifted its stake in Germany’s Hugo Boss to nearly 48%, falling short of taking full control, after only 17.6% of investors accepted its takeover offer.
- Royal Unibrew reported EPS below estimates and sales in line with estimates. Trading volume was 376 times the average for this time of day.
- OXB drops as much as 1.3% after Deutsche Bank downgraded the stock to hold from buy, saying the “burden of proof has shifted firmly towards execution” following the “disappointing” 1H trading update.
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