Tencent Music, the Chinese music streaming giant, has gained 7.7% to $14, on its first day trading on Wall Street. The Group’s IPO was priced at $13 per ADS (American Depositary Receipt), raising nearly $1.1 billion.
American Eagle Outfitters (+2.9%) published its third quarter accounts. Earnings were $85.5 million ($0.48 per share), compared with $63.7 million ($0.36 per share) a year earlier. Revenues amounted to $1 billion, compared with $960.4 million a year earlier. Analysts on average expected a quarterly EPS of $0.48, for revenues of $1 billion. In the fourth quarter, the group targets a EPS between $0.40 and $0.42.
Pivotal Software (+2.5%) presented its third quarter results. The net loss amounted to $34.9 million ($0.13 per share), compared with a loss of $39.3 million ($0.57 per share) a year earlier. On an adjusted basis, the loss per share is $0.05. Revenues totaled $168 million, compared with $129 million a year earlier. Analysts expected on average a quarterly loss per share of $0.08, for revenues of $164 million. For the current quarter, the company expects a loss per share of between $0.10 and $0.09, for revenues between $169 and $171 million.
Baidu.com (+3%) was up after Binnie Wong of HSBC Securities, in first analysis of the stock suggests a “buy” recommendation and a target price of $213.
Intercept Pharma (+ 5%). B. Riley FBR analyst Mayank Mamtani launched coverage of the stock with a “buy” recommendation and a target price of $155.
Under Armor suffered a decline of more than 10 percent. The sportswear brand spoke with investors and did not know how to convince with its financial goals.
Logistics service provider XPO Logistics plunged 9.6 percent after adjusting the expectations.
Softbank is reportedly planning to sell its stake in the chip maker, Nvidia. The trade is expected to bring about $3 billion in profit.