These stocks were poised to make moves Tuesday:
PDD Holdings shares rebounded 1.7% in premarket trading Tuesday after plunging 28.5% on Monday. China's PDD Holdings missed market estimates for quarterly revenue on Monday. The nearly 30% drop in shares of Chinese online retailer PDD Holdings is “too much of a correction,” according to Shaun Rein, founder and managing director of the China Market Research Group.
Trinity Biotech stock rose 93% to $3.86 in premarket trading Tuesday. The Dublin-based biotechnology company raised by 25% its full-year sales for TrinScreen HIV, its rapid HIV test, on a substantial increase in orders. The company now expects sales of $10 million, up from a prior projection of $8 million.
Trip.com Group shares surged 11% in premarket trading after the Chinese travel company posted robust second-quarter earnings. The online travel company said Tuesday before market open that second-quarter net profit rose to 3.83 billion yuan (US$538.2 million), compared with CNY631 million a year ago. Revenue rose 14%, lifted by accommodation reservations and packaged tours.
Paramount Global shares dropped 4.7% in premarket trading. Edgar Bronfman Jr. has dropped out of bidding for Paramount Global after submitting a $6 billion proposal in an effort to challenge Skydance Media's deal.
Cava Group shares tumbled 6.7% in premarket trading after CEO Brent Schulman and several key executives and directors disclosed stock sales of Cava stock in the wake of the Mediterranean-themed restaurant chain's post-earnings spike to record highs.