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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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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>
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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>
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Intraday Update

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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

Analyst Ratings

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

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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

Earnings

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

Equities

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>
Image via Shutterstock

Futures

Previews

Economics

Federal Reserve

$BTC

INTU

NVDA

NWSA

ROST

SCVL

SNOW

WDAY

Wall Street Braces For Strong Open On Nvidia Cheer, But Traders Wary Of Key Data: Why This Analyst Sees More Market Bullishness Near-Term

Weibo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WB#NASDAQ">WB</a>) reported quarterly earnings of $0.41 per share which beat the analyst consensus estimate of $0.36 by 13.89 percent. This is a 12.77 percent decrease over earnings of $0.47 per share from the same period last year. The company reported quarterly sales of $395.497 million which beat the analyst consensus estimate of $392.547 million by 0.75 percent. This is a 4.42 percent decrease over sales of $413.778 million the same period last year.

Earnings Beats

Weibo Q1 2024 Adj EPS $0.41 Beats $0.36 Estimate, Sales $395.497M Beat $392.547M Estimate

Ratings for Weibo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WB#NASDAQ">WB</a>) were provided by 4 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $10.47, a high estimate of $11.50, and a low estimate of $9.80. This current average has decreased by 16.24% from the previous average price target of $12.50. 
<img src="https://www.benzinga.com/files/images/story/2024/1715968888_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
A clear picture of Weibo's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Alex Poon</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Underweight</td>
<td>$10.00</td>
<td>$11.00</td>
</tr>
<tr>
<td>Timothy Zhao</td>
<td>Goldman Sachs</td>
<td>Announces</td>
<td>Neutral</td>
<td>$10.60</td>
<td>-</td>
</tr>
<tr>
<td>Zhijing Liu</td>
<td>UBS</td>
<td>Lowers</td>
<td>Buy</td>
<td>$11.50</td>
<td>$12.90</td>
</tr>
<tr>
<td>Charlene Liu</td>
<td>HSBC</td>
<td>Lowers</td>
<td>Hold</td>
<td>$9.80</td>
<td>$13.60</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Weibo. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Weibo compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Weibo's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Weibo's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/WB/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Weibo analyst ratings.</a>
<h2>Get to Know Weibo Better</h2>
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: Financial Performance Dissected</h3>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Revenue Growth: Weibo's remarkable performance in 3 months is evident. As of 31 December, 2023, the company achieved an impressive revenue growth rate of 3.5%. This signifies a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Communication Services sector.
Net Margin: Weibo's net margin excels beyond industry benchmarks, reaching 17.95%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Weibo's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 2.52% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 1.19%, the company showcases effective utilization of assets.
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.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Forecasting The Future: 4 Analyst Projections For Weibo

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-ratings/">analyst ratings page</a>.
<ul>
<li>Piper Sandler cut the price target for Globant S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLOB#NYSE">GLOB</a>) from $290 to $238. Piper Sandler analyst Arvind Ramnani reiterated an Overweight rating. Globant shares fell 0.3% to close at $177.73 on Thursday. <a href="https://www.benzinga.com/quote/GLOB/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird slashed the price target for BioMarin Pharmaceutical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMRN#NASDAQ">BMRN</a>) from $104 to $72. Baird analyst Joel Beatty downgraded the stock from Outperform to Neutral. BioMarin Pharmaceutical shares fell 4.3% to close at $76.97 on Thursday. <a href="https://www.benzinga.com/quote/BMRN/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Morgan Stanley cut Weibo Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WB#NASDAQ">WB</a>) price target from $11 to $10. Morgan Stanley analyst Alex Poon downgraded the stock from Equal-Weight to Underweight. Weibo shares rose 4.4% to close at $10.04 on Thursday. <a href="https://www.benzinga.com/quote/WB/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Needham raised the price target for Rush Street Interactive, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSI#NYSE">RSI</a>) from $9 to $10. Needham analyst Bernie McTernan maintained a Buy rating. Rush Street Interactive shares fell 1.1% to close at $8.64 on Thursday. <a href="https://www.benzinga.com/quote/RSI/analyst-ratings">See how other analysts view this stock.</a></li>
<li>B of A Securities cut Take-Two Interactive Software, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTWO#NASDAQ">TTWO</a>) price target from $170 to $160. B of A Securities analyst Omar Dessouky maintained a Neutral rating. Take-Two Interactive shares fell 1.4% to close at $146.08 on Thursday. <a href="https://www.benzinga.com/quote/TTWO/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Bernstein boosted JD.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) price target from $28 to $35. Bernstein analyst Robin Zhu maintained a Market Perform rating. JD.com shares rose 1.9% to close at $34.27 on Thursday. <a href="https://www.benzinga.com/quote/JD/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Keybanc raised the price target for Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) from $63 to $75. Keybanc analyst Bradley Thomas maintained an Overweight rating. Walmart shares rose 7% to close at $64.01 on Thursday. <a href="https://www.benzinga.com/quote/WMT/analyst-ratings">See how other analysts view this stock.</a></li>
<li>JMP Securities cut NICE Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NICE#NASDAQ">NICE</a>) price target from $343 to $300. JMP Securities analyst Patrick Walravens maintained a Market Outperform rating. NICE shares fell 12.9% to close at $198.60 on Thursday. <a href="https://www.benzinga.com/quote/NICE/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Stephens &amp; Co. raised Advanced Drainage Systems, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMS#NYSE">WMS</a>) price target from $182 to $193. Stephens &amp; Co. analyst Trey Grooms maintained an Overweight rating. Advanced Drainage Systems shares fell 2.1% to close at $172.44 on Thursday. <a href="https://www.benzinga.com/quote/WMS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>B of A Securities boosted Applied Materials, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>) price target from $222 to $250. B of A Securities analyst Vivek Arya maintained a Buy rating. Applied Materials shares fell 1.6% to close at $214.03 on Thursday. <a href="https://www.benzinga.com/quote/AMAT/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/05/38888984/applied-materials-rbc-bearings-and-3-stocks-to-watch-heading-into-friday">Applied Materials, RBC Bearings And 3 Stocks To Watch Heading Into Friday</a>

AMAT

BMRN

GLOB

NICE

TTWO

Walmart To Rally Over 17%? Here Are 10 Top Analyst Forecasts For Friday

Morgan Stanley analyst Alex Poon downgrades Weibo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WB#NASDAQ">WB</a>) from Equal-Weight to Underweight and lowers the price target from $11 to $10.

Downgrades

Morgan Stanley Downgrades Weibo to Underweight, Lowers Price Target to $10

Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) and Warner Bros. Discovery (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) are joining forces to introduce a new streaming bundle that will include Disney+, Hulu, and Max. The bundle is set to be available in the U.S. this summer.
What Happened: The new bundle will offer both ad-supported and ad-free options, but the pricing details are yet to be disclosed, <a href="https://www.theverge.com/2024/5/8/24152397/disney-plus-hulu-max-streaming-bundle">reported</a> The Verge on Thursday. The companies have promised to share more information about the bundle in the coming months. 
The bundle will be available for purchase from the respective websites of Disney+, Hulu, and Max.
See Also: <a href="https://www.benzinga.com/news/24/05/38614138/have-you-used-siri-lately-elon-musk-answers-mkbhd-after-tim-cook-teases-exciting-ai-developments-fro?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Have You Used Siri Lately?&#8217; Elon Musk Answers MKBHD After Tim Cook Teases &#8216;Exciting&#8217; AI Developments From Apple This Year</a>
Disney&#8217;s president of direct-to-consumer, Joe Earley, stated, &#8220;On the heels of the very successful launch of Hulu on Disney+, this new bundle with Max will offer subscribers even more choice and value.&#8221;
Additionally, ESPN, which is also owned by Disney, will launch a live sports streaming service in the fall, in collaboration with Warner Bros. Discovery and Fox.
This move comes at a crucial time for the streaming industry, as companies are shifting their focus from subscriber numbers to revenue. Disney on Tuesday announced that <a href="https://www.benzinga.com/news/earnings/24/05/38669929/walt-disney-q2-earnings-profit-beat-moderating-parks-growth-password-sharing-crackdown-and-more">Disney+ and Hulu have generated a profit</a> of $47 million for the first time. Warner Bros. Discovery plans to <a href="https://www.benzinga.com/news/earnings/24/05/38722511/warner-bros-discovery-likely-to-report-narrower-q1-loss-here-are-the-recent-forecast-changes-from-w">report its earnings outcomes</a> before the opening bell on May 9.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: The streaming industry is witnessing a shift in focus from subscriber numbers to revenue, as companies are now turning their attention to revenue instead of subscriber numbers when evaluating how well their services are doing, the report noted. 
This move by Disney and Warner Bros. Discovery comes at a time when the industry is grappling with the issue of rising costs for streaming services. This has led to an increase in the <a href="https://www.benzinga.com/news/23/12/36106204/verizons-new-bundle-gets-you-netflix-and-max-for-10-a-month-but-theres-a-catch">popularity of bundle offers</a>, with companies like Max and Netflix also teaming up to offer a cheaper bundle through Verizon.
Moreover, Disney&#8217;s move to introduce a new streaming bundle comes on the heels of a <a href="https://www.benzinga.com/general/entertainment/24/05/38689906/bob-iger-says-this-streaming-platform-is-the-gold-standard-praises-rival-for-cracking-down-">global crackdown on password-sharing</a>, a policy that Disney plans to implement in select markets starting next month. The global rollout is scheduled for September. 
Disney and Comcast are also reportedly <a href="https://www.benzinga.com/general/entertainment/24/05/38659352/disney-comcast-seek-advisor-to-figure-out-how-much-hulu-is-really-worth-report">seeking a financial advisor</a> to resolve a dispute over the valuation of Disney&#8217;s 33% stake in the streaming platform Hulu. 
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/government/24/05/38698335/joe-biden-set-to-unveil-microsofts-3b-ai-data-center-plan-on-same-wisconsin-land-where-trump-tried-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Joe Biden Set To Unveil Microsoft&#8217;s $3B AI Data Center Plan On Same Wisconsin Land Where Trump Tried To Execute His Mega Foxconn Fantasy</a>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Entertainment

Media

Disney, Warner Bros. Discovery To Offer Streaming Bundle With Disney+, Hulu, Max This Summer: 'More Choice And Value'

<a href="https://asia.nikkei.com/Politics/China-enlists-Tencent-Weibo-and-Douyin-to-protect-state-secrets">https://asia.nikkei.com/Politics/China-enlists-Tencent-Weibo-and-Douyin-to-protect-state-secrets</a>
&nbsp;
BEIJING -- China on Wednesday implemented a revised State Secrets Law, requiring internet companies such as&nbsp;Tencent and Weibo to delete leaked information and cooperate with government investigations, further underscoring President Xi Jinping's focus on national security.
Protecting and curbing the spread of state secrets online, in an increasingly digitally focused society, is a central element of the extensive <a href="https://asia.nikkei.com/Politics/China-widens-scope-of-state-secrets-law">revisions to the law</a>, which has been updated for the first time since 2010. The changes add "internet information" to the list of distribution channels that must follow secrecy requirements, joining books, newspapers and television.
 &nbsp;

Legal

DOYU

"China Enlists Tencent, Weibo And Douyin To Protect State Secrets; Law Taking Effect Wednesday Seen Requiring Internet Companies To Help Curb Leaks; China Implemented Revised State Secrets Law, Requiring Tencent, Weibo To Delete Leaked Information, Cooperate With Government Investigations" - Nikkei Asia

Shares of Chinese tech stocks are trading higher following strong earnings from large-cap US tech names.

<h3>Gainers</h3>
<ul>
<li>Motorsport Games (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSGM#NASDAQ">MSGM</a>) shares rose 14.4% to $3.34 during Thursday's regular session. The company's market cap stands at $9.0 million. </li>
<li>Chicken Soup for the Soul (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSSEP#NASDAQ">CSSEP</a>) stock rose 14.09% to $0.51. </li>
<li>Hanryu Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HRYU#NASDAQ">HRYU</a>) stock rose 12.15% to $0.37. The market value of their outstanding shares is at $19.4 million. </li>
<li>Paltalk (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PALT#NASDAQ">PALT</a>) shares moved upwards by 11.81% to $3.88. The company's market cap stands at $35.7 million. </li>
<li>Reddit (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) shares increased by 8.81% to $45.8. The market value of their outstanding shares is at $7.4 billion. </li>
<li>Kuke Music Hldg (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KUKE#NYSE">KUKE</a>) stock moved upwards by 8.59% to $2.71. The company's market cap stands at $90.2 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>CuriosityStream (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CURI#NASDAQ">CURI</a>) shares declined by 18.6% to $1.18 during Thursday's regular session. The company's market cap stands at $62.8 million. </li>
<li>9F (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JFU#NASDAQ">JFU</a>) shares decreased by 13.04% to $2.7. The company's market cap stands at $31.8 million. </li>
<li>Hello Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOMO#NASDAQ">MOMO</a>) shares fell 9.38% to $5.51. The market value of their outstanding shares is at $1.0 billion. </li>
<li>HWH International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HWH#NASDAQ">HWH</a>) shares decreased by 9.38% to $1.16. The company's market cap stands at $18.8 million. </li>
<li>Weibo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WB#NASDAQ">WB</a>) shares declined by 9.34% to $8.11. The company's market cap stands at $1.9 billion. </li>
<li>Anghami (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANGH#NASDAQ">ANGH</a>) stock decreased by 8.47% to $1.19. The company's market cap stands at $79.3 million. 
See Also: <a href="http://www.benzinga.com/money/best-communication-services-stocks/" title="www.benzinga.com/money/best-communication-services-stocks/">www.benzinga.com/money/best-communication-services-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ANGH

CSSEP

CURI

HRYU

KUKE

MOMO

MSGM

PALT

RDDT

12 Communication Services Stocks Moving In Thursday's Intraday Session

<h3>Gainers</h3>
<ul>
<li>So-Young Intl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SY#NASDAQ">SY</a>) stock moved upwards by 8.8% to $1.24 during Thursday's pre-market session. The market value of their outstanding shares is at $127.3 million. </li>
<li>Travelzoo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TZOO#NASDAQ">TZOO</a>) stock moved upwards by 7.34% to $10.23. The company's market cap stands at $135.0 million. </li>
<li>FingerMotion (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FNGR#NASDAQ">FNGR</a>) stock increased by 6.26% to $3.39. The company's market cap stands at $178.6 million. </li>
<li>Mobile Global Esports (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGAM#NASDAQ">MGAM</a>) stock moved upwards by 5.94% to $0.18. The company's market cap stands at $3.8 million. </li>
<li>HWH International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HWH#NASDAQ">HWH</a>) stock rose 5.46% to $1.35. The company's market cap stands at $21.9 million. </li>
<li>MediaCo Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDIA#NASDAQ">MDIA</a>) stock rose 5.03% to $4.38. The market value of their outstanding shares is at $113.9 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Weibo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WB#NASDAQ">WB</a>) stock declined by 6.5% to $8.36 during Thursday's pre-market session. The market value of their outstanding shares is at $2.0 billion. </li>
<li>Gaxos.AI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GXAI#NASDAQ">GXAI</a>) stock fell 5.8% to $6.5. The market value of their outstanding shares is at $7.1 million. </li>
<li>Gamer Pakistan (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GPAK#NASDAQ">GPAK</a>) stock decreased by 5.56% to $0.2. The market value of their outstanding shares is at $5.0 million. </li>
<li>Outbrain (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OB#NASDAQ">OB</a>) shares fell 4.98% to $3.82. The company's market cap stands at $187.3 million. </li>
<li>Hello Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOMO#NASDAQ">MOMO</a>) shares fell 4.12% to $5.83. The market value of their outstanding shares is at $1.0 billion. </li>
<li>Global Mofy Metaverse (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GMM#NASDAQ">GMM</a>) shares declined by 3.88% to $0.95. The company's market cap stands at $27.1 million. 
See Also: <a href="http://www.benzinga.com/money/best-communication-services-stocks/" title="www.benzinga.com/money/best-communication-services-stocks/">www.benzinga.com/money/best-communication-services-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

FNGR

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GXAI

MDIA

MGAM

TZOO

12 Communication Services Stocks Moving In Thursday's Pre-Market Session

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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
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>.

WB Stock Earnings: Weibo Beats EPS, Misses Revenue for Q2 2024

Post Election Volatility And Great Rotation

Bullish option flow detected in Weibo (WB) with 7,297 calls trading, 4x expected, and implied vol increasing over 6 points to 65.25%. Jan-26 24.2 c...

Weibo call volume above normal and directionally bullish

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
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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