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Pre-Market Movers: Li Auto and Alibaba Lead the Pack, Nike Rallies

AInvestWednesday, Oct 2, 2024 8:16 am ET
1min read
The pre-market trading session is off to a robust start, with several stocks making significant moves. Li Auto (LI) and Alibaba (BABA) are leading the charge, while Nike (NKE) is also rallying. Let's delve into the key drivers behind these movements and what they mean for investors.

Li Auto (LI) is surging in the pre-market, up nearly 12% after reporting impressive delivery numbers for September and the third quarter. The company delivered 53,709 vehicles in September, marking a 48.9% year-over-year increase, and 152,831 vehicles in the third quarter, up 45.4% year over year. This strong performance can be attributed to Li Auto's focus on innovation and technology in its vehicles, as well as government initiatives and policies promoting new energy vehicles.

Government initiatives, such as subsidies and tax incentives, have played a significant role in driving demand for new energy vehicles. Additionally, Li Auto's expansion into new product lines and markets, such as the Li L series and Li MEGA, has contributed to its growth in vehicle deliveries. The company's robust retail and service network, including 479 retail stores and 894 supercharging stations across China, has also enhanced its customer experience and market position.

Alibaba (BABA) is another standout performer in the pre-market, up over 2% following its share repurchase update. The company repurchased a total of 414 million ordinary shares (equivalent to 52 million ADSs) for a total of US$4.1 billion during the quarter ended September 30, 2024. This move demonstrates Alibaba's commitment to returning capital to shareholders and confidence in its long-term prospects.

Nike (NKE) is also making waves in the pre-market, up over 1% following a strong earnings report. The company reported earnings per share (EPS) of $0.84, beating analysts' estimates of $0.78. Revenue also came in ahead of expectations, with the company posting $12.24 billion in sales versus the expected $11.87 billion. Nike's impressive results can be attributed to its strong brand, innovative products, and effective marketing strategies.

In conclusion, the pre-market is buzzing with activity, with Li Auto, Alibaba, and Nike leading the pack. Investors should pay close attention to these stocks, as they present compelling opportunities in the current market landscape. As always, it is essential to conduct thorough research and consider your risk tolerance before making any investment decisions.
Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.