U.S. stock futures were painting a mixed picture Monday morning, with Dow futures edging down around 0.1% as several notable names struggled in pre-market action.
The biggest headline belonged to Xpeng Inc. (XPEV), which saw its shares tumble despite what looked like a decent earnings report. The Chinese EV maker delivered 20.38 billion Chinese yuan ($2.86 billion) in quarterly revenue, representing a massive 101.8% year-over-year jump. The catch? That figure landed just shy of the $2.87 billion consensus forecast. On the bottom line, Xpeng actually beat expectations with an adjusted net loss per ADS of 0.16 Chinese yuan versus the analyst consensus loss estimate of 0.47 Chinese yuan. In dollar terms, that translated to an adjusted loss of 2 cents per ADS.
Still, the market wasn't impressed. Xpeng shares dipped 3.6% to $24.11 in pre-market trading.
Here's a look at other stocks moving lower before the opening bell:
- Plug Power Inc. (PLUG) shares dipped 6.1% to $2.11 in pre-market trading after declining 10% on Friday.
- Lexicon Pharmaceuticals Inc. (LXRX) fell 6% to $1.40 in pre-market trading.
- WEYCO Group Inc. (WEYS) declined 5.2% to $32.95 in pre-market trading. Weyco Group recently declared a special cash dividend of $2.00 per share.
- Nomura Holdings Inc. (NMR) fell 5% to $7.02 in pre-market trading.
- Dell Technologies Inc. (DELL) declined 4.7% to $127.50 in pre-market trading. Morgan Stanley analyst Erik Woodring downgraded Dell from Overweight to Underweight and lowered the price target from $144 to $110.
- Solid Biosciences Inc. (SLDB) fell 4.5% to $4.05 in pre-market trading.
- Yueda Digital Holding (YDKG) fell 3.5% to $1.64 in pre-market trading after dipping 15% on Friday.
