Walmart, XPeng, Coty, Bilibili, Instacart: Stocks Making The Biggest Moves Today

U.S. equities dipped in Thursday’s midday trade as investor sentiment declined after jobless claims came in hotter than expected, while Wall Street turned its focus to the Jackson Hole summit.

The SPDR S&P 500 ETF (SPY), which mirrors the S&P 500 index, was down 0.44% at the time of writing, while the Invesco QQQ Trust (QQQ), which mirrors the Nasdaq, fell 0.56%.

Here are the top stocks making the biggest moves in Thursday’s midday trade:

Walmart Inc. (WMT)

Walmart shares plunged 5% after the retail giant’s second-quarter (Q2) earnings came in below Wall Street expectations. Walmart reported earnings per share (EPS) of $0.68 in Q2 on revenue of $177.4 billion, while analysts expected EPS of $0.73 on revenue of $175.9 billion, according to Stocktwits data.

WMT stock is up 8% year-to-date.

XPeng Inc. (XPEV)

XPeng’s American Depository Receipts (ADR) climbed more than 13% in Thursday’s midday trade after CEO Xiaopeng He increased his stake in the company, purchasing 3.1 million shares, according to a Hong Kong Stock Exchange announcement on Thursday.

XPeng also received multiple price target hikes following its Q2 results, according to The Fly. Bank of America hiked its price target for XPeng to $26 from $25, while Citi upped the target to $29.4 from $29.

XPEV’s ADR is up 94% year-to-date.

Coty Inc. (COTY)

Coty shares tumbled 21% on Thursday after the company reported a surprise loss of $0.05 per share in the fourth quarter (Q4), while Wall Street expected it to post an EPS of $0.01, according to Stocktwits data. The company forecast like-for-like sales to decline 6% to 8% in its fiscal first quarter, and 3% to 5% in the second quarter.

COTY stock is down 44% year-to-date.

Bilibili Inc. (BILI)

Bilibili shares declined nearly 7% even though the China-based company’s Q2 earnings surpassed Wall Street expectations. Bilibili reported EPS of $0.18, beating analyst estimates of an EPS of $0.16, while revenue of $1.02 billion was in line with expectations, according to Stocktwits data.

BILI stock is up 28% year-to-date.

Instacart (CART)

Instacart shares fell nearly 4% after Wedbush downgraded the stock to ‘Underperform’ from ‘Neutral’, citing concerns due to intensifying competition, after Amazon.com Inc. (AMZN) launched a same-day perishable grocery delivery service. The firm trimmed its price target for Instacart to $42 from $55.

CART stock is up 6% year-to-date.

Also See: OpenAI CFO Sarah Friar Clarifies Sam Altman’s ‘AI Bubble’ Remarks: ‘The AI Era Is Upon Us, And We’re Leading The Path’

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