LB Premarket | China e-commerce stocks soared！Tesla's shareholder meeting is about to open

News

1. Eli Lilly's second-quarter revenue was $6.49 billion, and the market estimate was $6.82 billion. Adjusted earnings per share for the second quarter were $1.25, and the market estimated $1.69. Adjusted earnings per share for the fiscal year are expected to be $7.90 to $8.05, compared with a previous forecast of $8.15 to $8.30.

2. Tencent Holdings plans to increase its stake in Ubisoft Entertainment. (Reuters)

3, Toyota: 2023 fiscal year is expected to net sales 34.5 trillion yen, previously expected 33 trillion yen, the market estimate 35.26 trillion yen; net profit 2.36 trillion yen, previously expected 2.26 trillion yen, the market estimate 3 trillion yen; operating profit 2.4 trillion yen, the market estimate 3.31 trillion yen.

4. [ SoftBank has been revealed to have "sold" about 30% of its Alibaba holdings this year, cashing out $22 billion SoftBank Group, led by billionaire founder Masayoshi Son, sold about a third of its Alibaba stake this year through prepaid forward contracts, a derivative, raising $22 billion, the Financial Times reported on August 3. The deals will slash its stake in Alibaba over the next few years, bringing it to the Chinese e-commerce giant. The shareholding ratio fell below the threshold to retain board seats and blocked the Japanese group SoftBank is increasingly using this derivative to raise cash immediately, while retaining the possibility of continuing to hold a stake. If SoftBank chooses not to buy back Alibaba shares, it will mark the end of an era.

5. Alibaba's revenue in the second quarter was 205.56 billion yuan, the market expected 203.231 billion yuan, and 205.74 billion yuan in the same period last year. Net profit attributable to common shareholders was RMB 22.739 billion (USD 3.395 billion) and net profit was RMB 20.298 billion (USD 3.03 billion). Total cloud business revenue was approximately RMB 17.685 billion (USD 2.64 billion), an increase of 10 % year over year.

6, BeiGene second quarter revenue of $341 million, net loss of $571 million.

7. eBay's revenue in the second quarter was $2.422 billion, and the net loss was $531 million.

8. Lucid Group: The production target for 2022 is revised to 6,000 to 7,000 units. Production in the first half of the year was 1,405 units.

9, ConocoPhillips second quarter revenue of $21.989 billion, net profit of $5.145 billion.

Movement

U.S. stocks premarket, Dow futures rose 0.12%, Nasdaq futures rose 0.21%, S & P 500 futures rose 0.15%.

Alibaba rose more than 5%, JD.com rose 4% and Pinduoduo rose nearly 5%. Beke rose nearly 3%, Tencent Music and Bilibili rose nearly 2%, iQIYI and Baidu rose more than 2%. BeiGene Shenzhou rose 3%.

KaiXin Auto rose more than 6% after announcing that it had received a special project investment intention of a total of $700 million from a number of investment institutions.

MF rose more than 130% and DDL rose more than 10 %.

Fastly fell more than 6%, and the company expected a loss of $0.15 to $0.18 per share in Q3, which was less than expected.

Lucid Group fell more than 13 percent after second-quarter revenue missed expectations and slashed its full-year production target to 6,000 to 7,000 vehicles from 12,000 to 14,000.

Tesla rose more than 1%, shareholders meeting is about to open, is developing a new version of the solar roof.