Hot Stocks: PDD pops on earnings, CTLT falls on mixed earnings, AMPY ticks lower, DAL slides as well
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Pinduoduo (NASDAQ:PDD) jumped out to the topside on Monday after the Chinese-based firm beat its Q2 earnings and revenue.
On the other end of the spectrum, shares of Amplify Energy (NYSE:AMPY) dipped as it pleaded guilty to an oil spill that occurred last year. Additionally, Catalent, Inc. (NYSE:CTLT) has fallen on a mixed earnings report. Also in the red are shares of Delta Air Lines (NYSE:DAL) as flight bookings show signs of concern.
Gainer
Pinduoduo (PDD) shares moved higher on Monday morning by 12.5% as the stock outdid its second quarter Non-GAAP EPADS and revenue. PDD reported Q2 Non-GAAP EPADS of $1.13, which topped estimates by $0.72. At the same time, the firm also beat its forecasted revenue by $1.25B as it posted revenue of $4.69B (+36% Y/Y).
Decliners
Catalent, Inc. (CTLT) is -7.7% and trades in negative territory on Monday as the stock delivered Wall Street with a mixed earnings bag. CTLT beat on Non-GAAP EPS but missed on revenue. The stock posted FQ4 Non-GAAP EPS of $1.19 which topped estimates by $0.04 but missed on revenue by $20M.
Amplify Energy (AMPY) ticked lower by 0.3% as it agreed to plead guilty to the misdemeanor negligent discharge of oil in violation of the Clean Water Act and pay nearly $13M in fines for a crude oil spill last year off the southern California coast.
Delta Air Lines (DAL) is -1.8% in premarket trading as it along with many other airline carriers are in the red as flight bookings show signs of concern. U.S. airline sales took a sizable step back during the last week as bookings were down -23.6% vs. the level seen in 2019 for the week ending August 21 compared to the prior week's level of -9.3%.
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