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Weibo

Weibo Corp is a China-based company mainly engaged in the social media advertising business for people to create, discover and distribute content. The Company's activities include Advertising and Marketing, which mainly provides a full range of advertising customization and marketing solutions. The Value-added Services mainly provide services such as membership services on social platforms, online games, live broadcasts, social e-commerce, and others. The Company's main product is the social platform Weibo.

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Chinese e-commerce company Alibaba Group Holding Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) has invested $71.4 million or 100 billion Korean won in the South Korean apparel brand Ably Corp.
What Happened: Ably is now South Korea&#8217;s first unicorn of 2024, with the deal valuing the company at over $1 billion, as per a <a href="https://www.kedglobal.com/e-commerce/newsView/ked202412020004">report</a> by The Korean Economic Daily.
Following the investment, Ably&#8217;s valuation has soared to around 3 trillion won (approx. $2.1 billion), a significant increase from its 900 billion won valuation during its 67 billion won pre-Series C fundraising round in January 2022.
Why It Matters: This deal marks the first equity investment by China-based Alibaba in any Korean shopping app.
Ably is the first Korean startup to reach a valuation of over $1 billion this year, following Naver Corp.&#8217;s Kream Corp., which achieved a 1 trillion won valuation in December 2023 after completing a bridge round financing.
As per its 13F filings for the third quarter, Alibaba holds stakes in XPeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>), Weibo Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WB#NASDAQ">WB</a>), Perfect Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PERF#NYSE">PERF</a>), and Best Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEST#NYSE">BEST</a>) in the U.S.
Alibaba increased its stake in XPeng by 371% in the September 2024 quarter compared to the June 2024 quarter. During the same period, it reduced its stake in Perfect by 2%, while its Weibo and Best stakes remained unchanged.
See Also: <a href="https://www.benzinga.com/24/11/42245036/alibaba-co-founder-makes-rare-appearance-at-company-campus">Alibaba Co-Founder Jack Ma Makes Rare Appearance At Company Campus</a>
Price Action: Shares of Alibaba Group Holdings&#8217; ADR closed 0.90% higher at $87.37 per share on Friday as compared to a 0.31% advance in the NYSE Composite Index.
According to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>, Alibaba has a consensus price target of $119.82 apiece based on the ratings of 23 analysts, but a consensus rating of &#8220;Buy.&#8221; The highest price target among all the <a href="https://www.benzinga.com/quote/BABA/analyst-ratings">analysts tracked by Benzinga</a> is $155 per share issued by Deutsche Bank on Jan. 13, 2023, whereas the lowest price target is $85 apiece issued by Bernstein on Aug. 16.
The average price target of $122 per share between Barclays, Benchmark, and Mizuho implies a 39.64% upside for Alibaba.
<figure class="wp-block-image size-large"><a href=" https://www.benzinga.com/quote/BABA/analyst-ratings"><img loading="lazy" decoding="async" width="1024" height="384" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/02024049/Alibaba-ANR-1024x384.png" alt="" class="wp-image-671793" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/02024049/Alibaba-ANR-1024x384.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/02024049/Alibaba-ANR-300x112.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/02024049/Alibaba-ANR-768x288.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/02024049/Alibaba-ANR.png 1059w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
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Alibaba's $71M Bet On Ably Corp Turns It Into South Korea's First Unicorn of 2024

Benchmark analyst Fawne Jiang reiterates Weibo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WB#NASDAQ">WB</a>) with a Hold.

Reiteration

Analyst Ratings

Benchmark Reiterates Hold on Weibo

WIIM

Weibo shares are trading higher after the company reported better-than-expected Q3 financial results.

Weibo Corp&nbsp;(NASDAQ:&nbsp;WB) reported a&nbsp;fiscal third-quarter&nbsp;revenue growth of 5% year-on-year to $464.48 million, beating the&nbsp;analyst&nbsp;consensus estimate of $435.98 million.&nbsp;The&nbsp;Chinese microblogging social network company&#8217;s revenue grew by 3% year-on-year <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n42056242/weibo-announces-third-quarter-2024-unaudited-financial-results" rel="noreferrer noopener">on a constant basis</a>.
Adjusted EPS of 53 cents beat the&nbsp;analyst consensus estimate of 44 cents.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/11/42031958/niu-q3-earnings-scooter-volume-up-but-price-drops-and-margins-tighten-strong-q4-outlook-and-more" rel="noreferrer noopener">Niu Q3 Earnings: Scooter Volume Up, But Price Drops And Margins Tighten, Strong Q4 Outlook And More</a>
The&nbsp;stock price gained after the results.
Weibo&#8217;s&nbsp;advertising and marketing revenues increased by 2%&nbsp;Y/Y at $398.6&nbsp;million. Value-added service (VAS) revenues increased 25%&nbsp;Y/Y&nbsp;to $65.9 million.
Monthly active users (MAUs) were 587 million in September 2024 (<a target="_blank" href="https://www.benzinga.com/news/earnings/23/11/35693913/twitters-chinese-peer-weibos-q3-user-growth-strong-with-maus-topping-605m-but-revenue-falls" rel="noreferrer noopener">vs. 605&nbsp;million&nbsp;Y/Y</a>), while Average daily active users (DAUs) were 257 million (vs. 260 million Y/Y).&nbsp;
The adjusted operating margin declined by 200 bps to 35% as profits remained relatively flat Y/Y.&nbsp;
As&nbsp;of September 30, 2024, Weibo held $2.2 billion in cash and equivalents and generated $124.2 million in operating cash flow during the quarter.
Weibo CEO Gaofei Wang highlighted the company&#8217;s strong quarterly performance, emphasizing efforts to attract and engage high-quality users. The advertising business showed stabilization, with significant revenue growth in key sectors fueled by ad demand during the Summer Olympics.
The value-added services segment also performed well, driven by upgraded membership offerings that enhanced users&#8217; social interactions on the platform.
Weibo&nbsp;stock plunged over 19% year-to-date.
Price Action: WB stock is up 6.35% at $9.05 premarket at the last check on Tuesday.
Photo by Shutterstock
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<li><a href="https://www.benzinga.com/news/24/11/42016662/nvidia-reveals-3-6-stake-in-applied-digital-stock-soars" target="_blank" rel="noreferrer noopener">Nvidia Reveals 3.6% Stake In Applied Digital, Stock Soars</a></li>
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Earnings

Twitter's Chinese Peer Weibo Q3 Earnings: Beats Expectations, Advertising Stabilizes, VAS Growth Shines & More

<ul>
<li>Monthly active users ("MAUs") were 587 million in September 2024.</li>
<li>Average daily active users ("DAUs") were 257 million in September 2024.</li>
</ul>

Weibo's Q3 Monthly Active Users Were 587M And Average Daily Active Users Were 257M In September 2024

Weibo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WB#NASDAQ">WB</a>) reported quarterly earnings of $0.53 per share which beat the analyst consensus estimate of $0.44 by 20.45 percent. This is a 7.02 percent decrease over earnings of $0.57 per share from the same period last year. The company reported quarterly sales of $464.480 million which beat the analyst consensus estimate of $435.978 million by 6.54 percent. This is a 5.05 percent increase over sales of $442.151 million the same period last year.

Earnings Beats

Weibo Q3 2024 Adj. EPS $0.53 Beats $0.44 Estimate, Sales $464.480M Beat $435.978M Estimate

<h3>Companies Reporting Before The Bell</h3>
• Star Equity Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STRR#NASDAQ">STRR</a>) is likely to report quarterly loss at $0.32 per share on revenue of $13.15 million. 
• EuroDry (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EDRY#NASDAQ">EDRY</a>) is projected to report quarterly loss at $0.23 per share on revenue of $19.14 million. 
• S&amp;W Seed (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SANW#NASDAQ">SANW</a>) is expected to report quarterly loss at $1.40 per share on revenue of $17.00 million. 
• GDS Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GDS#NASDAQ">GDS</a>) is likely to report quarterly loss at $0.21 per share on revenue of $415.42 million. 
• Valvoline (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VVV#NYSE">VVV</a>) is expected to report quarterly earnings at $0.42 per share on revenue of $432.47 million. 
• Energizer Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENR#NYSE">ENR</a>) is likely to report quarterly earnings at $1.17 per share on revenue of $805.43 million. 
• Jacobs Solutions (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/J#NYSE">J</a>) is likely to report quarterly earnings at $1.37 per share on revenue of $3.01 billion. 
• Kingsoft Cloud Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KC#NASDAQ">KC</a>) is likely to report quarterly loss at $0.14 per share on revenue of $247.64 million. 
• Atour Lifestyle Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATAT#NASDAQ">ATAT</a>) is expected to report quarterly earnings at $0.36 per share on revenue of $264.74 million. 
• MYT Netherlands Parent (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MYTE#NYSE">MYTE</a>) is estimated to report quarterly loss at $0.06 per share on revenue of $203.93 million. 
• Lowe's Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) is expected to report quarterly earnings at $2.82 per share on revenue of $19.94 billion. 
• Vipshop Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>) is projected to report quarterly earnings at $0.33 per share on revenue of $2.91 billion. 
• Weibo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WB#NASDAQ">WB</a>) is expected to report quarterly earnings at $0.44 per share on revenue of $435.98 million. 
• Walmart (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) is estimated to report quarterly earnings at $0.53 per share on revenue of $167.72 billion. 
• Viking Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIK#NYSE">VIK</a>) is expected to report quarterly earnings at $0.85 per share on revenue of $1.66 billion. 
• Danimer Scientific (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DNMR#NYSE">DNMR</a>) is likely to report quarterly loss at $0.20 per share on revenue of $8.57 million. 
• Northern Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTIC#NASDAQ">NTIC</a>) is likely to report quarterly earnings at $0.19 per share on revenue of $22.50 million. 
• Eltek (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ELTK#NASDAQ">ELTK</a>) is likely to report quarterly earnings at $0.31 per share on revenue of $12.40 million. 
• Futu Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FUTU#NASDAQ">FUTU</a>) is expected to report quarterly earnings at $0.97 per share on revenue of $347.63 million. 
• Allot (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALLT#NASDAQ">ALLT</a>) is estimated to report quarterly loss at $0.03 per share on revenue of $22.80 million. 
• Elbit Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESLT#NASDAQ">ESLT</a>) is likely to report quarterly earnings at $1.86 per share on revenue of $1.61 billion. 
• XPeng (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) is estimated to report quarterly loss at $0.27 per share on revenue of $1.38 billion. 
• Amer Sports (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AS#NYSE">AS</a>) is projected to report quarterly earnings at $0.10 per share on revenue of $1.30 billion. 
• Medtronic (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) is projected to report quarterly earnings at $1.25 per share on revenue of $8.27 billion. 
• Oaktree Specialty Lending (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCSL#NASDAQ">OCSL</a>) is estimated to report quarterly earnings at $0.56 per share on revenue of $96.90 million. 
<h3>Companies Reporting After The Bell</h3>
• Workhorse Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKHS#NASDAQ">WKHS</a>) is projected to report quarterly loss at $0.82 per share on revenue of $4.68 million. 
• XP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XP#NASDAQ">XP</a>) is likely to report quarterly earnings at $0.40 per share on revenue of $772.20 million. 
• AZEK Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZEK#NYSE">AZEK</a>) is likely to report quarterly earnings at $0.27 per share on revenue of $339.99 million. 
• Algorhythm Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIME#NASDAQ">RIME</a>) is estimated to report earnings for its third quarter. 
• Sociedad Quimica Y Minera (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQM#NYSE">SQM</a>) is likely to report quarterly earnings at $0.66 per share on revenue of $1.09 billion. 
• StoneX Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNEX#NASDAQ">SNEX</a>) is estimated to report quarterly earnings at $2.05 per share on revenue of $462.98 million. 
• Kore Group Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KORE#NYSE">KORE</a>) is estimated to report quarterly loss at $0.63 per share on revenue of $67.90 million. 
• ReNew Energy Glb (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RNW#NASDAQ">RNW</a>) is expected to report quarterly earnings at $0.12 per share on revenue of $313.59 million. 
• Qifu Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QFIN#NASDAQ">QFIN</a>) is likely to report quarterly earnings at $1.42 per share on revenue of $588.49 million. 
• Star Bulk Carriers (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBLK#NASDAQ">SBLK</a>) is expected to report quarterly earnings at $0.99 per share on revenue of $305.05 million. 
• Powell Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POWL#NASDAQ">POWL</a>) is likely to report quarterly earnings at $3.55 per share on revenue of $286.49 million. 
• La-Z-Boy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LZB#NYSE">LZB</a>) is estimated to report quarterly earnings at $0.64 per share on revenue of $505.98 million. 
• Auna (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AUNA#NYSE">AUNA</a>) is projected to report quarterly earnings at $0.21 per share on revenue of $297.67 million. 
• Varex Imaging (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VREX#NASDAQ">VREX</a>) is expected to report quarterly earnings at $0.09 per share on revenue of $200.54 million. 
• Keysight Techs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEYS#NYSE">KEYS</a>) is likely to report quarterly earnings at $1.57 per share on revenue of $1.26 billion. 
• ZTO Express (Cayman) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTO#NYSE">ZTO</a>) is estimated to report quarterly earnings at $0.41 per share on revenue of $1.48 billion. 
• Dolby Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DLB#NYSE">DLB</a>) is estimated to report quarterly earnings at $0.70 per share on revenue of $307.94 million. 
• Golub Capital BDC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GBDC#NASDAQ">GBDC</a>) is expected to report quarterly earnings at $0.44 per share on revenue of $234.39 million. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Earnings Scheduled For November 19, 2024

Weibo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WB#NASDAQ">WB</a>) is set to give its latest quarterly earnings report on Tuesday, 2024-11-19. Here's what investors need to know before the announcement.
Analysts estimate that Weibo will report an earnings per share (EPS) of $0.44. 
The market awaits Weibo's announcement, with hopes high for news of surpassing estimates and providing upbeat guidance for the next quarter.
It's important for new investors to understand that guidance can be a significant driver of stock prices.
<h3>Earnings Track Record</h3>
Last quarter the company beat EPS by $0.02, which was followed by a 0.0% drop in the share price the next day.
Here's a look at Weibo's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.46</td>
<td>0.36</td>
<td>0.49</td>
<td>0.56</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.48</td>
<td>0.41</td>
<td>0.31</td>
<td>0.57</td>
</tr>
<tr>
<td>Price Change %</td>
<td>0.0%</td>
<td>-0.0%</td>
<td>4.0%</td>
<td>-1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1731938528_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Weibo were trading at $8.35 as of November 15. Over the last 52-week period, shares are down 29.77%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release. 
<h3>Analysts' Take on Weibo</h3>
For investors, staying informed about market sentiments and expectations in the industry is paramount. This analysis provides an exploration of the latest insights on Weibo.
Weibo has received a total of 2 ratings from analysts, with the consensus rating as Buy. With an average one-year price target of $9.75, the consensus suggests a potential 16.77% upside.
<h3>Analyzing Analyst Ratings Among Peers</h3>
In this analysis, we delve into the analyst ratings and average 1-year price targets of and Tripadvisor, three key industry players, offering insights into their relative performance expectations and market positioning.
<h3>Analysis Summary for Peers</h3>
The peer analysis summary presents essential metrics for and Tripadvisor, unveiling their respective standings within the industry and providing valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Tripadvisor</td>
<td>Neutral</td>
<td>-0.19%</td>
<td>$485M</td>
<td>4.33%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Weibo is positioned in the middle among its peers for consensus rating. It ranks at the bottom for revenue growth, with a negative percentage. In terms of gross profit, Weibo is ahead of its peers with a higher amount. However, its return on equity is lower compared to its peers.
<h3>Discovering Weibo: A Closer Look</h3>
Weibo Corp is a China-based company mainly engaged in the social media advertising business for people to create, discover and distribute content. The Company's activities include Advertising and Marketing, which mainly provides a full range of advertising customization and marketing solutions. The Value-added Services mainly provide services such as membership services on social platforms, online games, live broadcasts, social e-commerce, and others. The Company's main product is the social platform Weibo.
<h3>Weibo's Financial Performance</h3>
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
Revenue Challenges: Weibo's revenue growth over 3 months faced difficulties. As of 30 June, 2024, the company experienced a decline of approximately -0.54%. This indicates a decrease in top-line earnings. When compared to others in the Communication Services sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 25.56%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Weibo's ROE stands out, surpassing industry averages. With an impressive ROE of 3.43%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Weibo's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 1.56%, the company showcases efficient use of assets and strong financial health.
Debt Management: Weibo's debt-to-equity ratio surpasses industry norms, standing at 0.8. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<a href="https://www.benzinga.com/quote/WB/earnings">To track all earnings releases for Weibo visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Preview: Weibo's Earnings

U.S. stock futures were higher this morning, with the Dow futures gaining around 50 points on Tuesday.
Shares of Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) fell sharply in today's <a href="https://www.benzinga.com/quote/BABA">pre-market trading</a>.
The Chinese government&#8217;s announcement of a 200 billion yuan ($28 billion) stimulus aimed at local investment projects fell short of market expectations, triggering a sharp sell-off in major tech stocks.
Alibaba Group shares dipped 6.6% to $109.78 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>ZJK Industrial Co., Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZJK#NASDAQ">ZJK</a>) shares dipped 23.5% to $5.20 in pre-market trading after gaining 35% on Monday.</li>
<li>LexinFintech Holdings Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LX#NASDAQ">LX</a>) shares declined 19.2% to $2.98.</li>
<li>Futu Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FUTU#NASDAQ">FUTU</a>) shares fell 18.6% to $104.90 in pre-market trading.</li>
<li>Torrid Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CURV#NYSE">CURV</a>) shares declined 18.2% to $2.60 in pre-market trading.</li>
<li>UP Fintech Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TIGR#NASDAQ">TIGR</a>) shares declined 18.1% to $9.39 in pre-market trading after declining around 8% on Monday.</li>
<li>Kingsoft Cloud Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KC#NASDAQ">KC</a>) shares fell 15.4% to $3.52 in pre-market trading after gaining around 7% on Monday.</li>
<li>BingEx Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLX#NASDAQ">FLX</a>) shares fell 15.2% to $13.99 in pre-market trading.</li>
<li>Weibo Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WB#NASDAQ">WB</a>) shares fell 12% to $10.31 in pre-market trading.</li>
<li>Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) shares declined 10.6% to $27.28 in pre-market trading.</li>
<li>iQIYI, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IQ#NASDAQ">IQ</a>) shares fell 10% to $2.70 in pre-market trading.</li>
<li>NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) shares fell 9.4% to $6.15 in pre-market trading.</li>
<li>Baidu, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) shares fell 8% to $105.30 in pre-market trading.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/10/41221716/dow-dips-around-400-points-as-treasury-yields-top-4-investor-optimism-declines-but-fear-index-remai">Dow Dips Around 400 Points As Treasury Yields Top 4%: Investor Optimism Declines, But Fear Index Remains In &#8216;Greed&#8217; Zone</a></li>
</ul>

Pre-Market Outlook

Movers

Trading Ideas

BIDU

CURV

TIGR

Alibaba, Baidu, Weibo And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

U.S. stocks were mostly lower, with the Dow Jones index falling around 300 points on Thursday.
Shares of AngioDynamics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANGO#NASDAQ">ANGO</a>) fell sharply during Thursday's session following <a href="https://www.benzinga.com/quote/ANGO/earnings">first-quarter results</a>.
AngioDynamics posted first-quarter adjusted loss of 11 cents per share, compared to market estimates of a loss of 15 cents per share. The company's quarterly sales came in at $67.491 million versus expectations of $67.933 million.
AngioDynamics shares dipped 15.6% to $6.45 on Thursday.
Here are some other big stocks recording losses in today's session.
<ul>
<li>Youdao, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAO#NYSE">DAO</a>) shares dipped 14.6% to $5.08.</li>
<li>Ingevity Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGVT#NYSE">NGVT</a>) shares declined 12.6% to $32.74 as the company said John Fortson has departed as president and CEO and from the board of directors of the company, effective as of Oct. 2.</li>
<li>Hims &amp; Hers Health, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NASDAQ">HIMS</a>) fell 11.1% to $16.85 in possible sympathy with Eli Lilly after the FDA announced their weight-loss drug shortage has ended.</li>
<li>Levi Strauss &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEVI#NYSE">LEVI</a>) declined 9.1% to $19.14 after the company reported worse-than-expected third-quarter sales results and issued its FY24 adjusted EPS guidance with its midpoint below estimates. The company began a strategic review for its Dockers brand and is exploring a potential sale or other strategic transactions.</li>
<li>Joby Aviation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JOBY#NYSE">JOBY</a>) dipped 8.8% to $5.59. Toyota announced plans to invest $500 million in Joby Aviation.</li>
<li>Bilibili Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BILI#NASDAQ">BILI</a>) shares fell 8.2% to $27.23. Shares of US-listed Chinese stocks traded lower as the sector pulled back from recent strength. These companies rallied after the People&#8217;s Bank of China announced a new stimulus package ahead of the Golden Week holidays.</li>
<li>Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) dipped 7.5% to $8.45 after Mizuho downgraded the stock from Neutral to Underperform and cut its price target from $17 to $8.</li>
<li>GDS Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GDS#NASDAQ">GDS</a>) fell 6.4% to $21.51.</li>
<li>Weibo Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WB#NASDAQ">WB</a>) dipped 5% to $10.65. Shares of US-listed Chinese stocks traded lower as the sector pulled back from recent strength.</li>
<li>Baidu, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) fell 4% to $110.49. Shares of US-listed Chinese stocks traded lower as the sector pulled back from recent strength.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/news/24/10/41162047/top-2-tech-and-telecom-stocks-that-are-ticking-portfolio-bombs">Top 2 Tech And Telecom Stocks That Are Ticking Portfolio Bombs</a></li>
</ul>

Intraday Update

ANGO

BILI

Hims & Hers Health, Inc. Class A Common Stock

HIMS

JOBY

LEVI

NGVT

WOLF

AngioDynamics, Ingevity, Levi Strauss And Other Big Stocks Moving Lower On Thursday

Citigroup analyst Alicia Yap maintains Weibo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WB#NASDAQ">WB</a>) with a Buy and raises the price target from $11 to $12.

Price Target

Citigroup Maintains Buy on Weibo, Raises Price Target to $12

U.S. stocks were slightly lower, with the Dow Jones index falling around 0.1% on Monday.
Shares of Prime Medicine, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRME#NASDAQ">PRME</a>) rose sharply during Monday's session after the company announced a strategic research collaboration and license agreement with Bristol Myers Squibb to develop reagents for the next generation of ex vivo T-cell therapies. Also, it announced that it is focusing its pipeline on a set of <a href="https://www.benzinga.com/quote/PRME/news">high value programs</a>. 
Prime Medicine shares jumped 39.6% to $4.8317 on Monday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Uxin Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UXIN#NASDAQ">UXIN</a>) gained 28% to $6.68.</li>
<li>UP Fintech Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TIGR#NASDAQ">TIGR</a>) gained 26% to $5.80.</li>
<li>Capricor Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAPR#NASDAQ">CAPR</a>) shares jumped 25% to $12.43.</li>
<li>LexinFintech Holdings Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LX#NASDAQ">LX</a>) rose 20% to $2.8750.</li>
<li>Futu Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FUTU#NASDAQ">FUTU</a>) gained 18% to $101.15.</li>
<li>iQIYI, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IQ#NASDAQ">IQ</a>) gained 14% to $3.2250.</li>
<li>NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) rose 13.8% to $7.42 after investors agreed to invest an aggregate of 3.3 billion yuan in its Nio China subsidiary while the company agreed to invest 10 billion yuan.</li>
<li>ZEEKR Intelligent Technology Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZK#NYSE">ZK</a>) gained 12.4% to $23.71. Shares of US-listed Chinese companies traded higher on continued strength amid stimulus efforts. September PMI data beat estimates but factory activity fell, which may raise stimulus hopes.</li>
<li>MINISO Group Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNSO#NASDAQ">MNSO</a>) climbed 9.5% to $18.76. Shares of US-listed Chinese companies traded higher on continued strength amid stimulus efforts. September PMI data beat estimates but factory activity fell, which may raise stimulus hopes.</li>
<li>RLX Technology Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RLX#NYSE">RLX</a>) gained 8.6% to $1.8250.</li>
<li>New Oriental Education &amp; Technology Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDU#NYSE">EDU</a>) gained 7.8% to $79.24.</li>
<li>Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) gained 7.4% to $27.69. Shares of US-listed Chinese companies traded higher on continued strength amid stimulus efforts. September PMI data beat estimates but factory activity fell, which may raise stimulus hopes.</li>
<li>Structure Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GPCR#NASDAQ">GPCR</a>) gained 6.5% to $44.45.</li>
<li>Weibo Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WB#NASDAQ">WB</a>) gained 6.2% to $10.52.</li>
</ul>
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</ul>

CAPR

New Oriental Education & Technology Group

GPCR

MNSO

PRME

UXIN

Prime Medicine, MINISO Group, Li Auto, Weibo And Other Big Stocks Moving Higher On Monday

NTES

TUYA

Shares of US-listed Chinese stocks are trading higher after China's Central Bank announced a new stimulus package.

Morgan Stanley analyst Alex Poon maintains Weibo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WB#NASDAQ">WB</a>) with a Underweight and lowers the price target from $8 to $7.5.

Morgan Stanley Maintains Underweight on Weibo, Lowers Price Target to $7.5

Weibo Corp&nbsp;(NASDAQ:&nbsp;WB) reported a <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/n40501567/weibo-announces-second-quarter-2024-unaudited-financial-results" rel="noreferrer noopener">fiscal second-quarter</a> revenue decline of 1% year-on-year to $437.87 million, beating the&nbsp;analyst&nbsp;consensus estimate of $436.95 million.&nbsp;The&nbsp;Chinese microblogging social network company&#8217;s revenue grew by 1% year-on-year on a constant basis.
Adjusted EPS of $0.48 beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate of $0.41</a>. The&nbsp;stock price gained after the results.
Weibo's&nbsp;advertising and marketing revenues declined by 3%&nbsp;Y/Y at $375.3&nbsp;million. Value-added service (VAS) revenues increased 15%&nbsp;Y/Y&nbsp;to $62.6 million.
Monthly active users (MAUs) were 583 million in June 2024 (<a target="_blank" href="https://www.benzinga.com/news/earnings/23/08/34019455/chinese-twitter-peer-weibo-boasts-stronger-user-base-and-welcomes-alibaba-executive-to-board" rel="noreferrer noopener">vs 599&nbsp; million</a> Y/Y), while Average daily active users (DAUs) was 256 million (vs 258 million Y/Y).&nbsp;
The adjusted operating margin improved by 100 bps to 36% as profits rose by 2.5% Y/Y.&nbsp;
Weibo held $2.8 billion in cash and equivalents as&nbsp;of June 30, 2024, and generated $132.1 million in operating cash flow during the quarter.
"Our user engagement and operating efficiency have further improved this quarter," said Gaofei Wang, CEO of Weibo. "On the user front, we emphasized on the acquisition and engagement of high quality users and saw improved user engagement this quarter. On the content front, we further optimized our content ecosystem through reinforcement of our core strength and solid execution of our vertical content strategy. On the monetization front, we are encouraged to see Weibo's strength in hot trends and vertical content ecosystem has become the key driver of topline recovery."
Weibo stock has plunged over 40% in the last 12 months as it battled a weak domestic economy.
Price Action: WB shares traded higher by 2.28% at $8.07 premarket at the last check on Thursday.
Photo by Shutterstock

Emerging Markets

Tech

China's Micro-blogging Platform Weibo Q2 Earnings: Revenue And Profit Beat, Ad Revenue Drops, Daily Active Users Fall Marginally

General

Weibo Reported Second Quarter Monthly Active Users Of 583M, With Average Daily Active Users Of 256M In June 2024

Weibo Q2 2024 Adj. EPS $0.48 Beats $0.41 Estimate, Sales $437.873M Beat $436.954M Estimate

Weibo Corp&nbsp;(NASDAQ:&nbsp;WB) reported a fiscal first-quarter 2024 revenue decline of 4% year-on-year to $395.5 million, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/n38980236/weibo-announces-first-quarter-2024-unaudited-financial-results" rel="noreferrer noopener">analyst&nbsp;consensus estimate of $392.5 million</a>.&nbsp;Revenue of the&nbsp;Chinese social network company was flat Y/Y on a CC basis.
Adjusted EPS of $0.41 beat the&nbsp;analyst consensus estimate of $0.36. The&nbsp;stock price gained after the results.
Weibo&#8217;s&nbsp;advertising and marketing revenues declined by 5%&nbsp;Y/Y at $339.0&nbsp;million. Value-added service (VAS) revenues decreased 3%&nbsp;Y/Y&nbsp;to $56.5 million.
Monthly active users (MAUs) were 588 million in March 2024 (<a target="_blank" href="https://www.benzinga.com/news/earnings/23/05/32568465/weibo-stock-gains-after-special-dividend-approval-marginally-misses-q1-topline-as-business-graduall" rel="noreferrer noopener">vs 593 million Y/Y</a>), while Average daily active users (DAUs) rose by 5 million Y/Y to 255 million (vs 255 million Y/Y).&nbsp;
The adjusted operating margin improved by 100 bps to 32% as profits declined by 2.2% Y/Y.&nbsp;
Weibo held $3.3 billion in cash and equivalents as&nbsp;of March-end and generated $139.6 million in operating cash flow during the quarter.
CEO Gaofei Wang said,&nbsp;&#8220;On the user front, we focused on the acquisition and engagement of&nbsp;high quality&nbsp;users and improving ROI of our channel investments. On the content front, we also made progress in optimizing traffic structure through&nbsp;continuous&nbsp;execution of vertical content strategy. On the monetization front,&nbsp;Weibo&#8217;s&nbsp;business demonstrated&nbsp;stabilized&nbsp;trend, with enhanced operating efficiency this quarter.&#8221;
Weibo stock lost 46% in the last 12 months.&nbsp;Investors can gain exposure to the stock via&nbsp;IShares MSCI&nbsp;China Small-Cap ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECNS#NYSE">ECNS</a>) and&nbsp;Fidelity Metaverse&nbsp;ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FMET#NASDAQ">FMET</a>).
Price Action: WB shares traded higher by 2.71% at $9.10 premarket at the last check Thursday.
Photo by Shutterstock

ECNS

FMET

Weibo Beats Q1 Revenue And EPS Estimates Despite Yearly Decline - What's On The Cards?

Major U.S. index futures jumped early Thursday as Nvidia Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) <a href="https://www.benzinga.com/news/earnings/24/05/38974130/nvidia-reports-beat-and-raise-q1-announces-150-dividend-hike-10-for-1-stock-split">earnings provided a shot in the arm for the market.</a> A couple of market-moving economic data on the job market and the manufacturing sector and a Federal Reserve official&#8217;s speech could also affect the day&#8217;s trading. Given the confounding rate outlook, the focus is likely to be squarely on these numbers to understand their implications for the Fed funds rate. A market strategist pointed to historical seasonal strength around May-end through early July.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.95%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.59%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.14%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.18%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Thursday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) climbed 0.56% to $532.82 and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) traded up 0.91% at $459.95 according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Previous Session
U.S. stocks ended Wednesday&#8217;s session weaker, dragged by the minutes of the May Federal Open Market Committee meeting that suggested the central bank is resigned to the idea of staying &#8220;higher for longer.&#8221; As rate-cut bets unraveled, bond yields nudged up, creating additional selling pressure. Investors also preferred to remain cautious ahead of Nvidia&#8217;s earnings.
The averages opened on a narrowly mixed note and hugged the unchanged line until the afternoon. After declining sharply following the release of the minutes, they made good some of their losses by late trading and yet ended lower for the day.
Barring healthcare, industrial, and IT stocks, all other S&amp;P 500 sector classes ended in the red.
The major indices all settled off their all-time highs, although the Nasdaq Composite managed to hit an intraday high.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.18%</td>
<td>16,801.54</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-0.27%</td>
<td> 5,307.01</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-0.51%</td>
<td>39,671.04</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.79%</td>
<td>2,081.71</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> Insights From Analysts:</figcaption></figure>
Carson Group&#8217;s Ryan Detrick on Wednesday shared a chart to suggest the market could go another leg up in the near term. Citing historical data, the strategist said, &#8220;The last week or so of May and early June tends to be a bullish time for stocks historically,&#8221; he said.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The last week or so of May and early June tends to be a bullish time for stocks historically. <a href="https://t.co/GSfxuyrEaV">pic.twitter.com/GSfxuyrEaV</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1793272553680638202?ref_src=twsrc%5Etfw">May 22, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">While the market is cheering each piece of weak data, in the hope that it would prompt the Fed to lean toward a rate cut, too much bad news will ultimately be bad for the market, said Morgan Stanley&#8217;s Lisa Shalett. &#8220;History suggests that too much bad news eventually becomes just that — bad news — and investors risk being caught unprepared when the tide turns,&#8221; she said.</figcaption></figure>
&#8220;Our current focus is on U.S. consumers, whose spending powers more than two-thirds of the national economy. Data here paints an increasingly fragile backdrop,&#8221; she said, citing the recent sub-par University of Michigan consumer sentiment reading and weak April retail sales data.
Shalett mentioned the following as better bets during the fluid environment:
<ul>
<li> Companies with high-quality cash flows and achievable earnings targets.</li>
<li> investment-grade credit and a form of &#8220;insurance&#8221; via options on the VIX or puts on the S&amp;P 500</li>
<li>international equities and real assets, such as gold, real estate investment trusts, master limited partnerships, and commodities</li>
</ul>
Upcoming Economic Data:
<ul>
<li>The Labor Department is due to release its customary weekly jobless claims data at 8:30 a.m. EDT. Economists, on average, expect the number of individuals claiming unemployment benefits to come in at 220,000 for the week ended May 18, down slightly from 222,000 in the previous week.</li>
<li>S&amp;P Global will release its flash U.S. manufacturing and services purchasing managers&#8217; indices for May at 9:45 a.m. EDT. The consensus estimates call for the flash manufacturing PMI to remain unchanged at 50, a level that demarcates expansion and contraction, and the services PMI to edge up from 51.3 in April to 51.6 in May.</li>
<li>A Commerce Department report due at 10 a.m. EDT is expected to show new home sales coming in at a seasonally adjusted annual rate of 675,000 in April, down from the March reading of 693,000.</li>
<li>The Treasury will auction four- and eight-week notes at 11:30 a.m. EDT and 10-year TIPS at 1 p.m. EDT.</li>
<li>Atlanta Fed President Raphael Bostic is scheduled to speak at 3 p.m. EDT.</li>
</ul>
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Stocks In Focus:
<ul>
<li>Nvidia rallied over 6.6% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following its beat-and-raise quarter and copious shareholder returns. </li>
<li>Other stocks moving on earnings are Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) (over 3%), V.F. Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VFC#NYSE">VFC</a>) (down over 14.50%) and Zuora, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZUO#NYSE">ZUO</a>) (up over 10%).</li>
<li>Bilibili Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BILI#NASDAQ">BILI</a>), BJ&#8217;s Wholesale Club Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BJ#NYSE">BJ</a>), Medtronic plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>), NetEase, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTES#NASDAQ">NTES</a>) and Weibo Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WB#NASDAQ">WB</a>), Ralph Lauren Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RL#NYSE">RL</a>), Shoe Carnival, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCVL#NASDAQ">SCVL</a>) are among the other <a href="https://www.benzinga.com/calendars/earnings">notable companies reporting before the market opens.</a></li>
<li>Those reporting after the close include Intuit Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>), Ross Stores, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROST#NASDAQ">ROST</a>), Workday, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>) and Lions Gate Entertainment Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LGF#NYSE">LGF</a>).</li>
<li>News Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWSA#NASDAQ">NWSA</a>) rallied over 7% on the news of an OpenAI partnership.</li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures snapped a three-session losing streak and rose solidly, while gold futures pulled further back below the $2,400 level. The U.S. 10-year note yield fell 1.2 basis points to 4.422% and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) retreated below the $70,000 mark.
In Asia, Chinese and Hong Kong stocks fell sharply following recent gains, orchestrated by hopes of stimulus measures. The Australian and South Korean markets experienced more modest weakness, while most other major markets rallied, led by Japan.
European stocks saw tentative gains in early trading following the sharp pullback in the previous two sessions.
Read Next: <a href="https://www.benzinga.com/government/24/05/38978431/most-americans-think-economy-is-in-recession-under-biden-despite-hard-data-telling-different-story-w">Most Americans Think Economy Is In Recession Under Biden Despite Hard Data Telling Different Story: &#8216;We&#8217;re Not Feeling It Where I Live&#8217;</a>
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Weibo (NASDAQ:<a href="https://investorplace.com/stock-quotes/wb-stock-quote/">WB</a>) just reported results for the second quarter of 2024.<ul><li>Weibo reported earnings per share of 48 cents. This was above the analyst estimate for EPS of 46 cents.</li><li>The company reported revenue of $437.87 million.</li><li>This was 1.90% worse than the analyst estimate for revenue of $446.34 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div>	
	The post <a href="https://investorplace.com/earning-results/2024/08/wb-stock-earnings-weibo-for-q2-of-2024/">WB Stock Earnings: Weibo Beats EPS, Misses Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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