Alibaba, Exxon Mobil lead market cap stock movers on Wednesday

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Huntington Ingalls Industries

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Summary:

Wednesday's market has seen significant movements among various stocks, with notable activity in both the mega-cap and large-cap categories. Some stocks are experiencing sharp...

Wednesday’s market has seen significant movements among various stocks, with notable activity in both the mega-cap and large-cap categories. Some stocks are experiencing sharp increases, while others face declines, reflecting the dynamic nature of the stock market. Here’s a look at some of the major stock movers of the day, spanning from the largest companies by market capitalization to smaller firms.

Mega-Cap Movers:

Alibaba-exch (BABA): +8.29%; Alibaba-exch’s strong intra-day performance stands out among mega-caps.
Exxon Mobil (NYSE:XOM): -2.43%; Despite today’s dip, Exxon Mobil remains a key player in the energy sector.
General Electric (NYSE:GE): +2.05%; General Electric continues to show resilience with today’s positive movement.

Large-Cap Stock Movers:

Full Truck Alliance Co ADR (YMM): +12.9%; Full Truck Alliance Co. Ltd. Announces Fourth Quarter and Fiscal Year 2024 Unaudited Financial Results.
Futu Holdings (NASDAQ:FUTU): +9.76%; The brokerage firm’s shares climb following a positive market response.
Ke Holdings Inc (BEKE): +8.87%; Ke Holdings Inc rides the wave of today’s bullish sentiment.
Freeport Mcm (NYSE:FCX): +8.48%; Freeport Mcm capitalizes on market trends with a strong intra-day rise.
Sea Limited (NYSE:SE): +9.1%; Sea Limited’s shares surge, reflecting investor confidence.
Tencent Music Entertainment Group (NYSE:TME): +7.75%; Tencent Music Entertainment Group enjoys a lift in today’s trading.
Crowdstrike Holdings Inc (NASDAQ:CRWD): -6.41%; CrowdStrike Named Optiv 2024 Partner of the Year.
Ctrip.com International (NASDAQ:TCOM): +7.06%; Ctrip.com International sees a rebound in today’s session.
Xpeng Inc (NYSE:XPEV): +6.87%; Xpeng Inc’s stock accelerates following recent trends.

Mid-Cap Stock Movers:

Knightsbridge Tankers Ltd (NASDAQ:GOGL): -15.71%; The shipping company’s stock faces headwinds today.
21Vianet Group (NASDAQ:VNET): +15.22%; 21Vianet Group’s shares soar amidst market volatility.
Thor Industries (NYSE:THO): -15.82%; Thor Industries reports Q2 earnings miss, revenue beat; shares fall nearly 9%.
Credo Technology Holding (CRDO): -14.65%; Credo Technology stock gains 8% as Q3 earnings, revenue top estimates.
New Providence Acquisition Corp N (ASTS): +16.04%; The company’s shares jump following positive market activity.
Sitime Corporation (NASDAQ:SITM): +14.54%; Sitime Corporation’s stock ticks upward in today’s trading.
Huntington Ingalls Industries Inc (NYSE:HII): +12.1%; The defense contractor’s shares make notable gains.
Aberc Fitch A (NYSE:ANF): -10.69%; Abercrombie & Fitch Co. Reports Fourth Quarter and Full Year Results.
Fortress Value Acquisition Corp (NYSE:MP): +10.47%; The company’s shares advance on market optimism.
360 Finance Inc (NASDAQ:QFIN): +8.47%; 360 Finance Inc experiences a boost amid today’s market movements.

Small-Cap Stock Movers:

Chimerix Inc (NASDAQ:CMRX): +70.36%; Jazz Pharmaceuticals (NASDAQ:JAZZ) to acquire Chimerix for $935 million.
Chromadex Corp (NASDAQ:CDXC): +59.93%; ChromaDex shares rise as Q4 results top estimates.
Latham Group (SWIM): +34.07%; Latham Group shares surge 14.5% as Q4 revenue tops estimates.
Exodus Movement (EXOD): -30.92%; The company’s shares take a significant hit in today’s session.
Tremor International ADR (NEXN): +25.61%; Nexxen Reports Fourth Quarter and Full Year 2024 Financial Results.
Astronics Corp (NASDAQ:ATRO): +22.44%; Astronics stock soars 10% on strong Q4 earnings beat, upbeat 2025 outlook.
MSTU (MSTU): +15.14%; MSTU’s stock moves upward, catching the attention of investors.
B Riley Principal Merger Ii (EOSE): +17.39%; Eos Energy Enterprises reports Q4 revenue miss, reiterates 2025 guidance.
LZ Tech Holdings (LZMH): +17.68%; LZ Tech Holdings’ shares climb as investors show interest.
Avista Healthcare Public Acquisit (NASDAQ:ORGO): +16.37%; The company’s stock rallies following positive market sentiment.

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This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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Abercrombie & Fitch Co Reports Results For The Quarter Ended January 31 - Earnings Summary

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Sector Update: Consumer Stocks Advance Wednesday Afternoon

MT Newswires

Thor Industries

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Campbell Soup Company Common Stock

Consumer stocks were rising Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.3% and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 0.5%.

In sector news, the Trump Administration is considering suspending its 25% tariffs on the automotive sector following pressure from auto manufacturers, Bloomberg reported.

In corporate news, Thor Industries shares fell nearly 16%. The company swung to an unexpected fiscal Q2 loss amid a challenging market environment, while the recreational vehicle maker lowered its full-year earnings outlook.

Campbell's shares dropped 2.3%. The company on Wednesday reported fiscal Q2 revenue that fell short of analysts' expectations, and it cut its 2025 outlook.

Brown-Forman's fiscal Q3 earnings topped market estimates but revenue unexpectedly declined year over year, while the wine and spirits maker reiterated its full-year outlook. Its shares jumped past 9%.

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Shareholder Investigation: Halper Sadeh Llc Investigates Cmrx, Ivac, Brdg On Behalf Of Shareholders

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Fitch assigns 'A' rating to Baidu's proposed offshore Chinese yuan notes

Investing.com

Investing.com -- Fitch Ratings has given an ’A’ rating to the proposed offshore Chinese yuan senior unsecured notes of China-based tech giant Baidu (NASDAQ:BIDU), Inc. This rating aligns with Baidu’s senior unsecured rating of ’A’, as the proposed notes will be on par with its existing and potential future senior unsecured debt. The company plans to utilize the funds from these notes to repay some of its existing debt, cover interest payments, and for other corporate purposes.

The ratings are supported by Baidu’s commanding position in China’s search engine market and its leadership in artificial intelligence (AI) technologies. Baidu’s search engine is a top choice for advertisers to promote their products and services in China. It is also making significant strides in the AI market, particularly with its widely adopted foundation model ERNIE.

Baidu is currently facing some challenges in its advertising sector due to China’s demanding macroeconomic environment. This has put pressure on Baidu Core’s online marketing revenue. The company is working on enhancing its search product by integrating more generative AI content into search results, but has yet to monetize this content.

Despite these challenges, Baidu’s AI cloud services are expected to offset the pressure on Baidu Core’s online marketing revenue. The company predicts that AI cloud services will make up 71% of Baidu Core’s non-marketing revenue in 2025, an increase from 69% in 2024. This growth has been driven by wider enterprise adoption and increased market recognition of Baidu’s technical capabilities and AI expertise.

Baidu’s profitability at its partly-owned online video service, iQIYI, Inc., has been affected by intense competition for premium content. However, a hit drama series in January 2025 has given the company a strong start, and iQIYI plans to further improve content quality and operational efficiency.

Baidu’s strategic focus on cost efficiency is expected to support profitability amid economic pressure and rising AI investment. Despite a 4% drop in reported adjusted EBITDA from Baidu Core in 2024, the company expects operational efficiency to improve in the medium term.

Baidu’s capital structure is conservative, with a large net cash position. Although EBITDA gross leverage is likely to temporarily exceed 2.5x in 2025 due to short-term EBITDA pressure and new debt, Baidu’s net cash and robust free cash flow generation should be more than sufficient to fund shareholder returns. The company spent over $1.0 billion on share repurchases since 2024, with $3.3 billion remaining under its share repurchase program, which is effective until the end of 2025.

Baidu’s credit profile is stronger than that of internet peers like Meituan, Vipshop Holdings (NYSE:VIPS) Limited, and Expedia (NASDAQ:EXPE) Group, Inc., but weaker than that of Alibaba (NYSE:BABA) Group Holding Limited and Tencent Holdings (OTC:TCEHY) Limited, which are larger and have greater revenue diversification.

Fitch expects Baidu to maintain a large net cash balance. It had fully consolidated cash and short-term investments of about CNY127 billion at the end of 2024, with a significant portion invested in time deposits and wealth-management products from state-owned banks. Baidu also had CNY99 billion in long-term time deposits and held-to-maturity investments. This is against fully consolidated debt, including redeemable non-controlling interests, of about CNY81 billion.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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Thor Industries Inc Reports Results For The Quarter Ended January 31 - Earnings Summary

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Thor Industries

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Abercrombie & Fitch Forecasts Annual Sales Growth Slowdown; Shares Tumble

MT Newswires

Abercrombie & Fitch

-4.18%

Shares of Abercrombie & Fitch plunged intraday Wednesday after the apparel retailer guided for a slowdown in sales growth in fiscal 2025, while its first-quarter earnings outlook fell short of Wall Street estimates.

The company sees 2025 sales rising 3% to 5%, slowing from the 16% annual growth pace reported for the just-concluded year.

"Our outlook includes US tariffs on China, Canada, and Mexico currently in effect," Chief Financial Officer Robert Ball told analysts on a conference call, according to a FactSet transcript. "We expect a 2025 impact of around $5 million."

Abercrombie's stock tumbled nearly 12% in midday trade.

US President Donald Trump's recently announced 25% tariffs against Canada and Mexico went into effect Tuesday, while the US government doubled its levy on Chinese imports. Canada and China announced counter measures.

Earnings per share are expected to range between $10.40 and $11.40 in 2025 versus the Street's $11.30 view.

For the ongoing quarter, the company projects EPS in the $1.25-to-$1.45 range versus the Street's view for $1.89. The company's sales growth outlook is for 4% to 6% in the first quarter.

Its fourth-quarter sales rose 9% to $1.58 billion, topping the analysts' $1.57 billion estimate. Adjusted EPS advanced to $3.57 from $2.97 and was ahead of the $3.54 analyst view.

Comparable sales grew 14% for the three-month period ended Feb. 1. By region, net sales increased 11% in the Americas and 2% in Europe, the Middle East and Africa. They fell 4% in Asia-Pacific. By brand, Hollister sales jumped 16%, while Abercrombie posted a 2% gain.

"Across the business, we saw low single-digit (average unit retail) growth and mid-single-digit unit growth on increased traffic, net of the impact of the 53rd week," Ball said on the call.

The company's board approved a new $1.3 billion stock repurchase plan, replacing its prior program authorized in 2021.

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Alibaba, Exxon Mobil lead market cap stock movers on Wednesday

Abercrombie & Fitch Co Reports Results For The Quarter Ended January 31 - Earnings Summary

Sector Update: Consumer Stocks Advance Wednesday Afternoon

Shareholder Investigation: Halper Sadeh Llc Investigates Cmrx, Ivac, Brdg On Behalf Of Shareholders

Fitch assigns 'A' rating to Baidu's proposed offshore Chinese yuan notes

Thor Industries Inc Reports Results For The Quarter Ended January 31 - Earnings Summary

Abercrombie & Fitch Forecasts Annual Sales Growth Slowdown; Shares Tumble

Risk Disclosure