Applied Digital — Shares surged 30% after the datacenter builder reported an impressive 84% increase in revenue for its fiscal first quarter compared to the same period last year. This remarkable growth highlights the company’s strong performance in a competitive market.
Stellantis — The French-Italian-American automaker announced a 13% rise in third-quarter shipments, leading to a 1.3% gain in shares during premarket trading. The increase in shipments was primarily driven by new model releases and robust demand in North America, signaling a potential recovery in business after several quarters of declining sales.
Synchrony Financial — The financial services stock saw a 1% increase following HSBC’s upgrade from hold to buy. HSBC identified Synchrony as a preferred choice within the consumer finance sector, which has bolstered investor confidence.
Alibaba — The Chinese e-commerce giant experienced a nearly 2% drop in stock value amid a broader sell-off in China overnight. This decline marks the company’s sixth consecutive negative session, raising concerns among investors about its future performance.
Doximity — Shares of the medical digital platform fell nearly 5% after JPMorgan downgraded the stock from neutral to underweight. The Wall Street firm cited valuation concerns, a competitive landscape, and risks associated with advertising spending on digital pharmaceutical products as reasons for the downgrade.
Mosaic — The chemical stock plummeted more than 9% after the company reported disappointing preliminary third-quarter volumes. Mosaic attributed the decline to unexpected mechanical issues at its Riverview sulfuric acid plant and utility interruptions at Bartow in mid-September, which significantly impacted overall production for the remainder of the month.
Levi Strauss — The denim apparel maker saw its shares fall more than 7% after issuing weaker-than-expected earnings guidance for the fourth quarter. Levi Strauss anticipates Q4 earnings to be between 36 cents and 38 cents per share, while analysts polled by FactSet had projected earnings of 41 cents per share.
— CNBC’s Fred Imbert, Alex Harring, and Sarah Min contributed reporting.
