XPeng Climbs, but This Much-Watched Stock Is Plunging
After substantial gains in the past couple of months, the stock market is once again becoming turbulent. Investors are trying to figure out the future direction of the global economy in the near term, and unfortunately, they're getting a lot of mixed messages about what the future could hold. That showed up in premarket moves on Tuesday morning. Futures for the Dow Jones Industrial Average (DJINDICES: ^DJI) were up 23 points to 35,594, but S&P 500 (SNPINDEX: ^GSPC) futures were down 3 points to 4,677, and Nasdaq Composite (NASDAQINDEX: ^IXIC) futures were down another 44 points to 16,338.
Earnings results are contributing to the mixed views on Wall Street, as companies in different industries face very different conditions. Chinese electric vehicle star XPeng (NYSE: XPEV) was on the rise in premarket trading Tuesday after reporting solid earnings. However, another company wasn't as lucky, suffering a huge double-digit percentage drop following its quarterly financial report. Below, we'll give the details on both companies.
Shares of XPeng were on the move Tuesday morning, rising more than 4% in premarket trading before the opening bell. The Chinese EV company's third-quarter financial results were strong, and investors took heart in comments that pointed to further success in the year ahead.
Source Fool.com
