Alibaba Group (NYSE:BABA)’s US-listed stock took off on Thursday after the Chinese eCommerce company’s quarterly earnings impressed.
Revenue of 280.15 billion yuan (US$38.38 billion), marked an 8% year-over-year increase and was ahead of Wall Street estimates of 279.34 billion yuan.
Carvana Co's (NYSE:CVNA) stock tumbled after hours, wiping out $6 billion in market value, as investors reacted to falling profit margins and weaker-than-expected wholesale sales.
The used-car retailer beat forecasts, posting $359 million in adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) for the fourth quarter—well above analyst expectations of $330 million and a significant jump from $60 million a year ago.
Shares of Palantir Technologies Inc (NYSE:PLTR) were down 12.2% in Thursday morning trading, extending losses after a Wednedsay evening report suggested potential US defense budget cuts and disclosures that CEO Alex Karp is set to sell nearly 10 million shares.
The Washington Post reported that US defense spending could decline by 8% annually over the next five years, raising concerns about Palantir’s revenue prospects. The data analytics company provides software to US government agencies, including the Pentagon.
Walmart Inc (NYSE:WMT, ETR:WMT) shares fell in early trade after the retailer provided conservative sales and profit guidance for the full year.
For fiscal 2026, Walmart expects net sales growth in the range of 3% to 4%, below Wall Street estimates of 4.2%.
Immunic Inc (NASDAQ:IMUX) has released new data that supports the potential of its investigational therapeutic IMU-856 as an oral treatment for weight management.
IMU-856, a small molecule that targets SIRT6 - a protein that regulates many cellular processes, including metabolism - demonstrated a dose-dependent increase in endogenous glucagon-like peptide-1 (GLP-1) levels in a post hoc analysis of patients from a phase 1b clinical trial in celiac disease.
Genflow Biosciences PLC (LSE:GENF, OTCQB:GENFF) shares were up as much as 8% in morning trading after the company cleared a major hurdle in securing a European patent for its SIRT6 variant, a potential breakthrough in treating age-related diseases.
The European Patent Office completed its review with no further questions, allowing the application to advance.
Greatland Gold PLC's (AIM:GGP, OTC:GRLGF) stock surged 9% after what were described as “exceptional” drilling results from the company’s first underground exploration at West Dome, confirming the potential for high-grade gold and copper below the Telfer open pit.
Out of 19 drill holes, 16 hit strong mineralisation, with an average intercept of 23.2 metres grading 2.95 grams per tonne of gold and 1.07% copper.
Shares in Ceres Power Holdings PLC (LSE:CWR, OTC:CPWHF) fizzled 42% lower to 75.75p after major partner Robert Bosch pulled its partnership as part of a strategic realignment of its operations.
The German giant will sell off its 17.44% stake and its non-executive board representative is stepping down with immediate effect.