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Stock futures edged lower in early trading on Monday as market participants eagerly await upcoming economic data releases and a wave of corporate earnings reports.
Here are some of Monday’s biggest stock movers:
Biggest stock gainers
Shares of Li Auto (NASDAQ:LI) surged past 7% following its impressive Q4 report, which highlighted substantial growth in total revenues, which reached RMB41.73B (US$5.88B), marking a remarkable 136.4% increase Y/Y and a 20.3% increase Q/Q. The company also achieved a significant milestone in total deliveries, with 131,805 vehicles delivered in Q4 2023, reflecting an 184.6% Y/Y increase. Moreover, Li Auto’s gross margin expanded to 23.5% in the quarter, up from 20.2% in the previous year. Looking ahead to 1Q24, the company anticipates delivering between 100,000 and 103,000 vehicles, representing a substantial increase of 90.2% to 95.9% Y/Y and total revenues to range between RMB31.25B (US$4.40B) and RMB32.19B (US$4.53B), reflecting a robust growth rate of 66.3% to 71.3% from Q1 2023. Teva Pharmaceutical’s (NYSE:TEVA) stock price increased by 5% following a joint announcement from Alvotech and Teva Pharmaceuticals, the U.S. affiliate of Teva Pharmaceutical Industries Ltd., that the FDA approved SIMLANDI injection as an interchangeable biosimilar to Humira, targeting various conditions like rheumatoid arthritis, juvenile idiopathic arthritis, psoriatic arthritis, ankylosing spondylitis, Crohn’s disease, ulcerative colitis, plaque psoriasis, hidradenitis suppurativa, and uveitis. Humira, one of the world’s top-selling pharmaceutical products, had sales in the U.S. of nearly $12.2B in 2023. Teva, in its role as Alvotech’s strategic partner, holds exclusive rights for SIMLANDI’s commercialization in the United States. This collaboration and the FDA approval of SIMLANDI had a positive impact on TEVA’s stock. Domino’s Pizza (NYSE:DPZ) shares rose more than 5% after Q4 comparable sales exceeded analysts’ expectations. The pizza chain operator revealed that total domestic store comparable sales grew by 2.8% in Q4, surpassing the consensus estimate of 2.2%. Comparable sales for company-owned stores were up 5.9%, beating the 2.6% consensus, while franchised locations saw a 2.6% increase, compared to the 2.1% consensus. Additionally, Domino’s announced a 24.8% dividend raise to $1.51 and launched a new $1B share buyback program.
Biggest stock losers
Intuitive Machines’ (NASDAQ:LUNR) shares plunged more than 30% after its spacecraft tipped over on the moon despite a successful landing. The Texas-based company had seen its stock nearly double to $9.59 following the historic landing, but a late-day sell-off occurred after news of the tip-over emerged. Intuitive Machines stated that the spacecraft Odysseus remained operational, with engineers actively sending commands.