After Hours Summary: ABVX +460%, VICR +31.6%, USNA +15.4%, MANH +8.5% higher on earnings; TXN -11.2%, ENPH -7.4%, PEGA -6%, SAP -2.1% lower on earnings
After Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: VICR +31.6%, USNA +15.4%, MANH +8.5% (also increases share repurchase authorization to $100 mln), CALM +4.7%, WFRD +3.1%, RRC +2.9%, COF +2% (also reports June card metrics), KARO +1.8%, BKR +1.5%, CSGP +1%, EQT +0.3%, ORRF +0.2% (also increases dividend)
Companies trading higher in after hours in reaction to news: ABVX +460% on Phase 3, TLN +9.2% (reports PJM auction results) BRCC +4.4% (Engaged Capital purchases 400K shares), QGEN +0.8% (expands NGS portfolio with launch of QIAseq xHYB), NOC +0.4% (does not believe tariffs will have amaterial imapct on its business), NOC +0.4% (awarded a $140.8 mln modification to previously awarded U.S. Navy contract)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: TXN -11.2%, ENPH -7.4%, PFSI -7%, RNST -6.5%, PEGA -6%, MTDR -3.2%, SAP -2.1%, CATY -1.9%, CNI -1.3%, ISRG -0.8%, CB -0.5%
Companies trading lower in after hours in reaction to news: CYH -1.6% (LH to acquire CYH outreach lab assets), REXR -0.5% (files for $1.25 bln common stock offering)
BYD has a new ultra-luxury EV brand headed for Europe
Ferrari and Porsche will soon have company. BYD just confirmed plans to launch Yangwang, its ultra-luxury EV brand, in Europe. It will be the first Chinese brand to enter Europe’s most elite segment.
BYD preps new ultra-luxury EV brand for Europe
After launching Denza earlier this year, BYD is set to introduce another luxury brand to Europe. Yangwang is BYD’s most exclusive lineup of new energy vehicles, featuring its advanced technology and performance.
The brand has been on sale in China for about two and a half years, and now, it’s preparing to launch in Europe. BYD’s vice president Stella Li told Autocar that “our plan is that we will bring Yangwang into Europe,” after Denza earlier next year.
BYD launched its ultra-luxury EV brand in January 2023, with the first vehicle, the Yangwang U8, going on sale in September of the same year.
The Yangwang U8 is a Range Rover-like extended range electric SUV (EREV), packing over 1,100 hp (880 kW). It also comes loaded with features like float mode, which allows it to literally float on water, tank turns, and the U8 can even plow through more water than a Defender.
A few months later, BYD launched the second vehicle, the Yangwang U9, in February 2024. The Yangwang U9 is an electric supercar that can jump and dance thanks to BYD’s DiSus-X body control system.
It’s faster than a Ferrari, with four electric motors delivering nearly 1,300 hp, enabling a 0 to 62 mph (0 to 100 km/h) sprint in just 2.36 seconds.
The Yangwang U8 and U9 start at 1,098,000 RMB ($150,000) and 1,680,000 RMB ($230,000) in China, respectively. Both will be sold in Europe.
Li said that “more cars are coming,” including the Yangwang U7, an electric ultra-luxury sedan. BYD delivered the first U7 models in China last month, starting at 628,000 RMB ($87,000).
With Yangwang set to arrive in Europe, BYD will be the first Chinese automaker to enter Europe’s top luxury auto segment.
With an additional 17% tariff, export costs, and other factors, prices in Europe are expected to be notably higher. We will learn more as we get closer to launch.
Snow Lake acquires strategic stakes in multiple U.S. critical minerals projects (4.22)
- Uranium - Equity investment in GTi Energy, which has recently announced a positive scoping study and updated resource estimate on its Lo Herma uranium project, located immediately to the south of Snow Lake's Pine Ridge uranium project in the Powder River Basin in Wyoming.
- Antimony - A strategic investment in Resolution Minerals Ltd., which holds the Horse Heaven antimony/tungsten/gold project in Idaho, immediately adjacent to Perpetua Resources Corp's (PPTA) Stibnite Gold Project. The USD$2.2 billion Stibnite Project is the only domestic U.S. source of antimony that can meet U.S. defense needs for many small arms, munitions, and missile types, and which is anticipated to provide ~35% of the U.S.'s antimony requirements.
- Rare Earths - An equity position in Commerce Resources Corp., which holds 100% of the Ashram rare earth elements ("REE") project in Northern Quebec, which is a globally significant REE deposit and one of the largest monazite-mineralized carbonatite REE deposits in the world.
Gapping down
In reaction to earnings/guidance:
In reaction to earnings/guidance:
- AGYS -11.9%, NXPI -6.2%, MMYT -3.8%, PM -3.8%, GM -3.6%, WRB -3.4%, GPC -3.1%, SHW -3%, RTX -2.4%, STLD -1.9%, PNR -1.8%, BOKF -1.5%, SYF -1.4%, DHR -1%, MSCI -0.9%
Other news:
- SFNC -5.4% (prices offering of 16.22 mln shares of common stock at $18.50 per share)
- KRMN -4.7% (files for 20 mln share offering by selling shareholders; also provides guidance)
- SSL -3.7% (reports FY25 sales and production)
- SRPT -2.9% (voluntarily pauses ELEVIDYS shipments in the US)
- ATGE -2.2% (CEO entered into a written trading plan to sell up to 108,000 shares of the Company's common stock)
- EW -1.4% (files mixed securities shelf offering)
- SAGE -1.3% (Biogen (BIIB) intends to tender all or a portion of SAGE common stock in the tender offer or to dispose of all or a portion of the common stock)
- AMPY -1.2% (announces an update on strategic initiatives and changes to the executive leadership team)
Analyst comments:
- BKSY -3.7% (downgraded to Hold from Buy at Clear Street)
- CRCL -2.7% (downgraded to Sell from Neutral at Compass Point)
- SHOP -2.4% (downgraded to Hold from Buy at Loop Capital)
- LULU -1.1% (downgraded to Neutral from Overweight at JPMorgan)
Gapping up
In reaction to earnings/guidance:
In reaction to earnings/guidance:
- MEDP +45.4%, IQV +10.5%, DHI +6.4%, CPAC +4.9%, FOR +4.2%, CALX +3.3%, DGX +3.1%, NOC +3%, ZION +2.9%, VLRS +2.7%, IPG +2.6%, HOPE +2.6%, THC +2.2%, OSCR +1.5%, VMI +1.5%, PHM +1.4%, WTFC +1.1%, RLI +1.1%
Other news:
- REPL +7.7% (FDA has issued a Complete Response Letter regarding the Biologics License Application for RP1 in combination with nivolumab for the treatment of advanced melanoma)
- CSX +4.4% (CP and CSX form new rail routing option called Southeast Mexico Express)
- NFGC +4.2% (assessment for Queensway gold project)
- ECX +4% (files for $255 mln mixed securities shelf offering)
- GILT +3.5% (awarded ~$60 million to provide digital inclusion solutions in Peru)
- BLDP +2.6% (receives order for 6.4 MW to eCap Marine for Samskip vessels)
- PARR +1.9% (establish joint venture for renewable fuels in Hawaii)
- ASH +1.8% (names new CFO)
- ERJ +1.7% (Q2 backlog)
- NA +1.2% (has significantly increased its holdings of BNB to 120,000.00, representing a total value of ~ $90 mln)
- PPBI +1% (COLB and PPBI shareholders approve merger)
Analyst comments:
- PAY +5.6% (upgraded to Outperform from Peer Perform at Wolfe Research)
- CLF +1.2% (upgraded to Overweight from Sector Weight at KeyBanc)
- UBS +1.1% (upgraded to Neutral from Underperform at BofA Securities)