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Pre-Open Movers: Pinduoduo Gains on EPS, Tech Stocks Lower Again

Stock Markets Aug 29, 2022 09:16
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Pre-Open Stock Movers:

Pinduoduo (NASDAQ:PDD) 12% HIGHER; reported Q2 non-GAAP EPS of RMB7.54 (U.S $1.13), versus RMB2.85 reported last year. Revenue for the quarter came in at RMB31.44 billion, versus RMB23.9 billion reported last year.

Astra Space, Inc. (Nasdaq: ASTR) 10% HIGHER; announced that it has been selected by Airbus OneWeb Satellites, LLC (“AOS”) to supply the Astra Spacecraft Engine for integration into the portfolio of Arrow commercial small satellites manufactured by AOS.

Bed Bath & Beyond Inc. (BBBY) 8% HIGHER; gains ahead of business update on 08/31.

Coinbase Global , Inc. (NASDAQ:COIN) 3% LOWER; Bitcoin trades below $20K

MicroStrategy Incorporated (MSTR) 3% LOWER; Bitcoin trades below $20K

Westlake Chemical (NYSE:WLK) (WLK) 3% LOWER; KeyBanc downgraded from Sector Weight to Underweight with a price target of $90.00.

LyondellBasell Industries (NYSE:LYB) (LYB) 2% LOWER; KeyBanc downgraded from Sector Weight to Underweight with a price target of $73.00.

Amazon.com, Inc. (NASDAQ:AMZN) 1% LOWER; tech stocks continue lower following Powell's Jackson Hole speech on Friday.

Alphabet Inc. (NASDAQ:GOOGL) 1% LOWER; tech stocks continue lower following Powell's Jackson Hole speech on Friday.

Microsoft Corporation (NASDAQ:MSFT) 1% LOWER; tech stocks continue lower following Powell's Jackson Hole speech on Friday

SelectQuote, Inc. (SLQT) 1% LOWER; reported Q2 EPS of ($0.64), $0.47 worse than the analyst estimate of ($0.17). Revenue for the quarter came in at $139.4 million versus the consensus estimate of $200.55 million. SelectQuote, Inc. sees FY2022 revenue of $850-950 million.

Pre-Open Movers: Pinduoduo Gains on EPS, Tech Stocks Lower Again
 

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