Vipshop Holdings (NYSE:VIPS) Stock, Quote.Headers.trade-ideas

Vipshop Holdings

Vipshop is a Leading Chinese online discount retailer offering branded products at attractive discounts ranging from 10%-90% off their original price through daily flash sales. It operates warehousing, retailing, product procurements, software development, and information technology support in-house while outsourcing to third-party logistics providers for distribution and shipments. Branded products on Vipshop's platform are sourced mostly through a consignment model with over 29,000 global partners as of Dec. 31, 2023. As of March 31, 2024, Eric Ya Shen, chairman and CEO, has 63.1% voting rights and a 30.9% stake while Arthur Xiaobo Hong, vice chairman and COO, has a 17.6% stake. Leading Chinese social media firm and strategic shareholder Tencent also holds an 11.8% interest.

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Vipshop Holdings Limited American Depositary Shares, each representing two ordinary shares

Vipshop Holdings Ltd

VIPSHOP HOLDGS SPON ADS REP 0.20 ORD

U.S. stocks were higher, with the Nasdaq Composite gaining around 50 points on Wednesday.
Shares of Toll Brothers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) rose sharply during Wednesday's session after the company reported better-than-expected third-quarter financial results and issued FY24 EPS<a href="https://www.benzinga.com/news/earnings/24/08/40474111/toll-brothers-q3-earnings-revenue-beat-eps-beat-homes-delivered-up-11-backlog-down-10-momentum-into"> guidance above estimates.</a>
The company reported adjusted EPS of $3.60, beating analysts estimate of $3.31 and sales of $2.73 billion, beating analysts estimate of $2.71 billion.
Toll Brothers shares climbed 6.5% to $142.27 on Wednesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>) shares gained 30.1% to $1.7312 after the company received an award as a subcontractor to Concept Solutions.</li>
<li>PROCEPT BioRobotics Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRCT#NASDAQ">PRCT</a>) jumped 26% to $81.89 after the company announced FDA 510(k) clearance of its HYDROS Robotic system.</li>
<li>Tempus AI, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>) gained 17.6% to $69.09.</li>
<li>GDS Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GDS#NASDAQ">GDS</a>) jumped 16.6% to $14.70 after its second-quarter FY24 results.</li>
<li>Eos Energy Enterprises, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EOSE#NASDAQ">EOSE</a>) climbed 14.4% to $2.1650 after Stifel maintained a Buy rating on the stock and announced a price target of $6.</li>
<li>UTime Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WTO#NASDAQ">WTO</a>) gained 14.4% to $1.6478 after the company announced a collaboration with Dr. Ehud Baron.</li>
<li>Kyverna Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KYTX#NASDAQ">KYTX</a>) jumped 13.6% to $8.42.</li>
<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) gained 13.4% to $24.28 amid a possible rebound due to President Trump&#8217;s first outdoor rally since the attempted assassination and campaign attention during the ongoing Democratic National Convention. Robert F. Kennedy Jr&#8217;s running mate, Nicole Shanahan, mentioned in a podcast yesterday that the third party&#8217;s campaign is weighing options that include joining forces with Donald Trump.</li>
<li>Keysight Technologies, Inc. (NYSE KEYS) rose 12.6% to $156.13 following better-than-expected third-quarter financial results.</li>
<li>Globalstar, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSAT#NYSE">GSAT</a>) gained 12.6% to $1.4350.</li>
<li>Target Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) climbed 12.2% to $160.79 following upbeat quarterly earnings.</li>
<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) rose 11.8% to $13.87.</li>
<li>Credo Technology Group Holding Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRDO#NASDAQ">CRDO</a>) climbed 10.7% to $35.44.</li>
<li>Vipshop Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>) gained 9.3% to $12.64. CLSA analyst Leo You downgraded Vipshop from Outperform to Hold and lowered the price target from $15.8 to $12.</li>
<li>AST SpaceMobile, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) rose 8.3% to $37.17.</li>
<li>Coty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COTY#NYSE">COTY</a>) gained 6.4% to $10.14 following fourth-quarter results.</li>
<li>The TJX Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>) rose 6% to $120.04 following strong quarterly earnings.</li>
</ul>
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Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page.</a>
<ul>
<li>Jefferies raised the price target for BrightView Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BV#NYSE">BV</a>) from $13 to $17. Jefferies analyst Stephanie Moore upgraded the stock from Hold to Buy. BrightView shares fell 2.9% to close at $14.54 on Tuesday. <a href="https://www.benzinga.com/quote/BV/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Wells Fargo cut the price target for Sonoco Products Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SON#NYSE">SON</a>) from $54 to $52. Wells Fargo analyst Gabe Hajde downgraded the stock from Equal-Weight to Underweight. Sonoco shares fell 0.5% to close at $50.57 on Tuesday. <a href="https://www.benzinga.com/quote/SON/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Citigroup raised Texas Instruments Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) price target from $200 to $235. Citigroup analyst Christopher Danely upgraded the stock from Neutral to Buy. Texas Instruments shares gained 0.9% to close at $202.54 on Tuesday. <a href="https://www.benzinga.com/quote/TXN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird boosted the price target for Medtronic plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) from $82 to $90. Baird analyst David Rescott maintained a Neutral rating. Medtronic shares gained 0.7% to close at $85.38 on Tuesday. <a href="https://www.benzinga.com/quote/MDT/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Morgan Stanley raised Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) price target from $98 to $100. Morgan Stanley analyst Andrew Percoco maintained an Equal-Weight rating. Enphase Energy shares fell 2.3% to close at $116.98 on Tuesday. <a href="https://www.benzinga.com/quote/ENPH/analyst-ratings">See how other analysts view this stock.</a></li>
<li>B of A Securities slashed Cogent Communications Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCOI#NASDAQ">CCOI</a>) price target from $75 to $65. B of A Securities analyst David Barden downgraded the stock from Neutral to Underperform. Cogent Communications shares fell 1.4% to close at $74.73 on Tuesday. <a href="https://www.benzinga.com/quote/CCOI/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Mizuho increased the price target for Corning Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>) from $44 to $47. Mizuho analyst John Roberts upgraded the stock from Neutral to Outperform. Corning shares gained 0.3% to close at $40.73 on Tuesday. <a href="https://www.benzinga.com/quote/GLW/analyst-ratings">See how other analysts view this stock.</a></li>
<li>CLSA cut Vipshop Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>) price target from $15.8 to $12. CLSA analyst Leo You downgraded the stock from Outperform to Hold. Vipshop shares dipped 17.6% to close at $11.56 on Tuesday. <a href="https://www.benzinga.com/quote/VIPS/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Raymond James boosted Agree Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADC#NYSE">ADC</a>) price target from $70 to $81. Raymond James analyst RJ Milligan maintained a Strong Buy rating. Agree Realty shares fell 0.2% to close at $72.17 on Tuesday. <a href="https://www.benzinga.com/quote/ADC/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Maxim Group slashed Dermata Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRMA#NASDAQ">DRMA</a>) price target from $10 to $6. Maxim Group analyst Anthony Vendetti maintained a Buy rating. Dermata Therapeutics shares fell 6.1% to close at $2.02 on Tuesday. <a href="https://www.benzinga.com/quote/DRMA/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
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<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="514" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21085756/image-182-1024x514.png" alt="" class="wp-image-506185" style="width:542px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21085756/image-182-1024x514.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21085756/image-182-300x151.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21085756/image-182-768x386.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21085756/image-182.png 1346w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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CLSA analyst Leo You downgrades Vipshop Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>) from Outperform to Hold and lowers the price target from $15.8 to $12.

Downgrades

CLSA Downgrades Vipshop Holdings to Hold, Lowers Price Target to $12

U.S. stocks traded mostly lower toward the end of trading, with the S&amp;P 500 falling around 0.1% on Tuesday.
The Dow traded down 0.12% to 40,849.39 while the NASDAQ fell 0.11% to 17,856.43. The S&amp;P 500 also fell, dropping, 0.07% to 5,604.36.
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Leading and Lagging Sectors Health care shares climbed by 0.4% on Tuesday.
In trading on Tuesday, energy shares fell by 2.4%.
Top Headline
Shares of Palo Alto Networks, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) gained around 9% on Tuesday after the company reported better-than-expected results for its fourth quarter and issued strong guidance.
Palo Alto&#8217;s board authorized an additional $500 million for share repurchases, bringing the company&#8217;s remaining buyback authorization up to $1 billion.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>InMed Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INM#NASDAQ">INM</a>) shares shot up 194% to $0.4361 after the company announced that INM-901 will be used in its development programs for Alzheimer&#8217;s Disease.</li>
<li>Shares of Bit Digital, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTBT#NASDAQ">BTBT</a>) got a boost, surging 17% to $3.4850 after the company reported better-than-expected second-quarter sales results. Also, the company announced a binding term sheet with Boosteroid.</li>
<li>Titan Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTNP#NASDAQ">TTNP</a>) shares were also up, gaining 94% to $9.71. Titan Pharmaceuticals entered into merger and contribution and share exchange agreement regarding a business combination with KE Sdn. Bhd.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Mynaric AG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYNA#NASDAQ">MYNA</a>) shares dropped 54% to $1.92 after the company cut its FY24 revenue guidance.</li>
<li>Shares of ATRenew Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RERE#NASDAQ">RERE</a>) were down 13% to $2.46 following second-quarter results.</li>
<li>Vipshop Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>) was down, falling 17% to $11.60 after the company reported second-quarter results and guided third-quarter revenues down approximately 5-10%.</li>
</ul>
Commodities In commodity news, oil traded down 0.7% to $73.82 while gold traded up 0.5% at $2,553.30.
Silver traded up 0.5% to $29.46 on Tuesday, while copper fell 0.8% to $4.1490.
Euro zone
European shares closed lower today. The eurozone's STOXX 600 slipped 0.45%, Germany's DAX fell 0.35% and France's CAC 40 slipped 0.22%. Spain's IBEX 35 Index fell 0.13%, while London's FTSE 100 fell 1%.
The annual inflation rate in the Eurozone increased to 2.6% in July from 2.5% in the prior month, while current account surplus rose to €52.4 billion in June from €32.4 billion a year ago. Italy&#8217;s current account surplus widened to EUR 4,885 billion in June from EUR 1,248 billion in the year-ago period. Producer prices in Germany fell by 0.8% year-over-year in July.
Asia Pacific Markets
Asian markets closed mixed on Tuesday, with Japan's Nikkei 225 gaining 1.80%, Hong Kong's Hang Seng Index falling 0.33%, China's Shanghai Composite Index falling 0.93% and India's BSE Sensex rising 0.47%.
The annual inflation rate in Hong Kong increased to 2.5% in July from 1.5% in the prior month. The People&#8217;s Bank of China kept key lending rates unchanged at the recent fixing.
Economics
No major economic reports are scheduled for release today.
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Morgan Stanley analyst Eddy Wang maintains Vipshop Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>) with a Equal-Weight and lowers the price target from $16 to $14.

Morgan Stanley Maintains Equal-Weight on Vipshop Holdings, Lowers Price Target to $14

U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling around 50 points on Tuesday.
The Dow traded down 0.10% to 40,854.31 while the NASDAQ fell 0.15% to 17,850.34. The S&amp;P 500 also fell, dropping, 0.06% to 5,604.70.
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Leading and Lagging Sectors Health care shares climbed by 0.5% on Tuesday.
In trading on Tuesday, energy shares fell by 1%.
Top Headline
Medtronic Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) reported better-than-expected results for its first quarter on Tuesday.
The company posted first-quarter 2025 sales of $7.92 billion, beating the consensus of $7.89 billion. The medical device maker reported adjusted EPS of $1.23, beating the consensus of $1.20. Revenue increased 2.8% year over year, as reported, and 5.3% organic.
Medtronic revised its fiscal year 2025 adjusted EPS guidance to $5.42 – $5.50, compared to prior guidance of $5.40 – $5.50 and consensus of $5.44. The company sees fiscal year 2025 organic revenue growth of 4.5% – 5% compared to prior guidance of 4% – 5%.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>InMed Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INM#NASDAQ">INM</a>) shares shot up 250% to $0.5075 after the company announced that INM-901 will be used in its development programs for Alzheimer&#8217;s Disease.</li>
<li>Shares of Bit Digital, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTBT#NASDAQ">BTBT</a>) got a boost, surging 16% to $3.47 after the company reported better-than-expected second-quarter sales results. Also, the company announced a binding term sheet with Boosteroid.</li>
<li>Titan Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTNP#NASDAQ">TTNP</a>) shares were also up, gaining 108% to $10.37. Titan Pharmaceuticals entered into merger and contribution and share exchange agreement regarding a business combination with KE Sdn. Bhd.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Mynaric AG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYNA#NASDAQ">MYNA</a>) shares dropped 54% to $1.93 after the company cut its FY24 revenue guidance.</li>
<li>Shares of ATRenew Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RERE#NASDAQ">RERE</a>) were down 12% to $2.5066 following second-quarter results.</li>
<li>Vipshop Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>) was down, falling 10% to $12.57 after the company reported second-quarter results and guided third-quarter revenues down approximately 5-10%.</li>
</ul>
Commodities In commodity news, oil traded up 0.8% to $74.96 while gold traded up 1.1% at $2,568.90.
Silver traded up 2% to $29.875 on Tuesday, while copper rose 0.2% to $4.1875.
Euro zone
European shares were mostly lower today. The eurozone's STOXX 600 slipped 0.22%, Germany's DAX fell 0.09% and France's CAC 40 slipped 0.01%. Spain's IBEX 35 Index fell 0.32%, while London's FTSE 100 fell 0.85%.
The annual inflation rate in the Eurozone increased to 2.6% in July from 2.5% in the prior month, while current account surplus rose to €52.4 billion in June from €32.4 billion a year ago. Italy&#8217;s current account surplus widened to EUR 4,885 billion in June from EUR 1,248 billion in the year-ago period. Producer prices in Germany fell by 0.8% year-over-year in July.
Asia Pacific Markets
Asian markets closed mixed on Tuesday, with Japan's Nikkei 225 gaining 1.80%, Hong Kong's Hang Seng Index falling 0.33%, China's Shanghai Composite Index falling 0.93% and India's BSE Sensex rising 0.47%.
The annual inflation rate in Hong Kong increased to 2.5% in July from 1.5% in the prior month. The People&#8217;s Bank of China kept key lending rates unchanged at the recent fixing.
Economics
No major economic reports are scheduled for release today.
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Nasdaq Moves Lower; Medtronic Posts Upbeat Earnings

U.S. stock futures were mixed this morning, with the S&amp;P 500 futures gaining around 0.1% on Tuesday.
Shares of Vipshop Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>) fell sharply in today's pre-market trading after reporting <a href="https://www.benzinga.com/news/earnings/24/08/40457669/chinese-discount-retailer-vipshop-posts-4-topline-decline-as-economy-hurts-sweetens-deal-with-1b-bu">second-quarter results.</a>
Vipshop reported second-quarter sales of $3.7 billion, down by 3.6% year-on-year, which topped the Wall Street view of $3.66 billion. Vipshop Holdings registered adjusted earnings per ADS of 54 cents, which aligns with the analyst consensus.
For the third quarter of 2024, the company expects its total net revenues to be between RMB20.5 billion-RMB21.6 billion, representing a year-over-year decrease of approximately 10%-5% versus consensus of RMB22.9 billion.
Vipshop shares dipped 7.2% to $13.00 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Jiayin Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JFIN#NASDAQ">JFIN</a>) shares declined 6.9% to $5.65 in pre-market trading.</li>
<li>ATRenew Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RERE#NYSE">RERE</a>) shares fell 6.7% to $2.65 in pre-market trading following second-quarter results.</li>
<li>Sasol Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSL#NYSE">SSL</a>) shares fell 4.8% to $7.20 in pre-market trading after the company reported financial results for the year ended 30 June, 2024.</li>
<li>ExlService Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXLS#NASDAQ">EXLS</a>) shares fell 4% to $34.04 in pre-market trading.</li>
<li>Hesai Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSAI#NASDAQ">HSAI</a>) shares slipped 3.8% to $4.36 in pre-market trading following second-quarter results.</li>
<li>Alvotech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALVO#NASDAQ">ALVO</a>) shares declined 3.4% to $12.55 in pre-market trading. Alvotech, last week, reported a year-over-year increase in H1 financial results.</li>
<li>Rezolve AI Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RZLV#NASDAQ">RZLV</a>) declined 2.4% to $8.00 in pre-market trading after dipping over 18% on Monday.</li>
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ALVO

EXLS

HSAI

JFIN

RZLV

Vipshop, Hesai Group And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

WIIM

Vipshop shares are trading lower after the company guided Q3 revenues down approximately 5-10%.

Vipshop Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>)&nbsp;reported second-quarter sales of $3.7 billion,&nbsp;down by 3.6% year-on-year, which topped the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/n40455792/vipshop-reports-unaudited-second-quarter-2024-financial-results" rel="noreferrer noopener">Wall Street view of $3.66 billion</a>.
Vipshop Holdings&nbsp;registered&nbsp;adjusted earnings per ADS of 54 cents, which aligns with <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">the analyst consensus</a>.&nbsp;The stock price slid after the print.
Total orders for the quarter were 197.8 million,&nbsp;compared with 213.8 million in the prior year period.
Gross margin for the quarter increased to 23.6% from 22.2% in the prior year period. Gross profit jumped 2.2%&nbsp;year over year&nbsp;to&nbsp;RMB6.3 billion&nbsp;($872.6 million).
GMV&nbsp;for the quarter remained flat year over year at&nbsp;RMB50.6 billion.
As of&nbsp;June 30, 2024, the company had cash and cash equivalents, restricted&nbsp;cash&nbsp;of&nbsp;$3.0 billion, and&nbsp;short-term&nbsp;investments of&nbsp;$264.3 million.
Share Repurchase Program: During the quarter, the company repurchased&nbsp;$205.9 million&nbsp;of its ADSs under its current&nbsp;$1 billion&nbsp;share repurchase program,&nbsp;&nbsp;which is effective through&nbsp;March 2025.&nbsp;
The board has authorized a new share repurchase program under which the company may repurchase up to&nbsp;$1 billion&nbsp;for 24 months.
Outlook:&nbsp;For the third quarter of 2024, the company expects its total net revenues to be between&nbsp;RMB20.5 billion-RMB21.6 billion, representing a year-over-year decrease of approximately 10%-5% versus <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus of RMB22.9 billion</a>.&nbsp;
The discount retailer lost over 11% in the last 12 months as it battles a weak domestic economy.
Price Action: VIPS shares are trading lower by 7% to $13.04 premarket at last check Tuesday.&nbsp;

Guidance

Buybacks

Chinese Discount Retailer Vipshop Posts 4% Topline Decline As Economy Hurts, Sweetens Deal With $1B Buyback Plan

The gravity-defying climb faces risk, as the index futures trade narrowly mixed in early trading on Tuesday. That said, <a href="https://www.benzinga.com/markets/equities/24/08/40450395/s-p-500-nasdaq-100-extend-8-session-winning-streak-as-wall-street-jitters-go-poof-mondays-key-st">the recent gains </a>could keep traders wary of a potential pullback. A couple of speeches by Federal Reserve officials are the lone Main Street catalysts for the day even as the market has set its eyes on Fed Chair Jerome Powell&#8217;s Jackson Hole Symposium address due Friday. Until such time, the market may remain in a wait-and-watch mode.
Given the bounce in cryptocurrencies, stocks exposed to these digital assets could gain some ground and tech stocks appear on track to preserve their upward momentum. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.12%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.04%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.05%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.06%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Tuesday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) edged up 0.04% to $559.82, and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) gained 0.10% to $481.76, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session: 
Stocks climbed solidly on Monday as the multi-session run-up continued, with support coming from weak economic data and a Fed speech that perked up hopes of an incoming Fed rate cut. Minneapolis Fed President Neel Kashkari, who is considered more of a hawk, said in an exclusive interview with the Wall Street Journal, &#8220;The balance of risks has shifted, so the debate about potentially cutting rates in September is an appropriate one to have.&#8221;
 The major averages opened higher and moved roughly sideways in early trading before climbing steadily through much of the remainder of the session. The buying interest accelerated in the final few minutes of trading. 
The tech-heavy Nasdaq Composite index and the broader S&amp;P 500 index extended their winning streak to eight, and in the process, these averages settled at their highest closing levels since July 23 and July 16, respectively. The S&amp;P 500 is now just under 60 points away from its all-time highs. 
The 30-stock Dow Jones Industrial Average is on a five-session winning run, with Monday&#8217;s gains coming on the back of the rally in the shares of McDonald&#8217;s Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), Amgen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) and Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>). The blue-chip is now at the highest level since July 17.
The gains were across the board, with all 11 S&amp;P 500 sector classes gaining ground. Communication services, IT and consumer discretionary stocks found notable buying interest.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+1.39%</td>
<td>17,876.77</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.97%</td>
<td>5,608.25</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.58%</td>
<td>40,896.53</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+1.19%</td>
<td>2,167.50</td>
</tr>
</tbody>
</table>
</figure>
The Nasdaq Composite, which fell into correction territory -defined as a pullback of over 10% from recent highs, on Aug. 5 amid the market collapse set in by yen carry trade unwinding, has quickly sprung back up. The intraday low hit on Aug. 5 (15,708.54) marked a roughly 16% pullback from the July 11 intraday high of 18,671.07. The index exited correction territory in merely 11 sessions, the fastest recovery since Oct. 2011, Barron&#8217;s <a href="https://www.barrons.com/livecoverage/stock-market-today-081924">reported</a>.
Insights From Analysts:
The stock market is entering a &#8220;very positive four-week equity trading window,&#8221; Goldman Sachs Trading Desk&#8217;s Managing Director Scott Rubner said in a note to clients on Monday, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-08-19/goldman-s-rubner-says-the-pain-trade-for-us-stocks-is-higher">reported.</a> The strength could come from the following:
<ul>
<li>inflows from trend-following systemic funds that are re-leveraging after cutting their total long exposure from $450 billion in July to $250 billion currently.</li>
<li>Commodity trading advisers are likely to buy stocks irrespective of the market trend</li>
<li>Buying by volatility-control funds as the CBOE volatility index posted the biggest nine-day drop in history following the Aug. 5 market collapse</li>
<li>traders going against the prevailing trend, aka long gamma positioning, which could serve as a buffer in the eventuality of a sell-off</li>
<li>Corporate demand rising until the corporate blackout window closes for about 50% of the companies on Sept. 13; Goldman estimated that corporate buybacks will likely total $1.15 trillion worth of authorizations and $960 billion worth of executions in 2024.</li>
<li>Money market investment in equities</li>
</ul>
That said, the strategist flagged pain ahead for the market. &#8220;The pain trade for equities is higher and the bar for being bearish at the beach into a Labor Day barbecue party is high,&#8221; he reportedly said. He sees the stock market turning negative after Sept. 16, given the second half of the month has historically been the worst two-week trading period of the year.
Previewing the Jackson Hole Symposium that kickstarts Thursday, WisdomTree Senior Economist and Wharton Professor Emeritus Jeremy Siegel said, Powell&#8217;s speech at 10 a.m. on Friday is the big event. &#8220;I expect him to clear the path for a rate cut in September, but not divulge the size,&#8221; the economist said.
Powell will likely say that the central bank is becoming more confident that inflation is moving towards its target and that it can afford to loosen the degree of monetary restrictiveness, Siegel said, while also cautioning that there is still much data to come, including August inflation and payrolls as well as four more jobless claims.
Upcoming Economic Data
<ul>
<li>Atlanta Fed President Raphael Bostic is scheduled to speak at 1:35 a.m. EDT.</li>
<li>Fed Vice Chair for Supervision Michael Barr&nbsp;will make a public appearance at 2:45 p.m. EDT.</li>
</ul>
See Also:<a href="https://www.benzinga.com/money/how-to-trade-futures"> How To Trade Futures</a>
Stocks In Focus:
<ul>
<li>Palo Alto Networks, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) rose over 2.4% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following its quarterly results announcement.</li>
<li>Lowe&#8217;s Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>), Medtronic plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) and Vipshop Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">notable companies due to release their quarterly results</a> before the market opens.</li>
<li>Those reporting after the close include Toll Brothers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>), Coty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COTY#NYSE">COTY</a>), La-Z-Boy Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LZB#NYSE">LZB</a>) and ZTO Express (Cayman) Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTO#NYSE">ZTO</a>).</li>
<li>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rally has propped up MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) and Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>).</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures fell yet again and traded around the $73.5 level, while gold futures climbed past the $2,560 mark. Bitcoin gained ground over the past 24 hours and approached the $61K mark.
The Asian markets ended Tuesday&#8217;s session on a mixed note, with the Japanese Nikkei 225 average rising sharply, while the Hong Kong, Chinese, Malaysia and Indonesian markets retreated.
The sentiment is fluid in Europe, with the Euro STOXX Index rising slightly in early trading, while the U.K.&#8217;s FTSE Index is pulling back sharply.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/08/40454745/palantir-co-founder-peter-thiel-says-ai-is-really-a-big-deal-but-could-take-15-20-years-to-become-su">Palantir Co-founder Peter Thiel Says AI &#8216;Really A Big Deal&#8217; But Could Take 15-20 Years To Become &#8216;Super Dominant,&#8217; — Calls This The &#8216;Holy Grail&#8217; Of AI Research</a></li>
</ul>
Image Via Shutterstock

Futures

Previews

Economics

Federal Reserve

$BTC

AMGN

COIN

INTC

MSTR

US Stocks May Take A Breather After S&P 500's Impressive 8-Session Winning Streak: Strategist Says Market Will Hit Fresh Highs In Next 4 Weeks, But Warns Investors Of Potential Risks

Shares of Bit Digital, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTBT#NASDAQ">BTBT</a>) rose sharply in today's pre-market trading after the company reported better-than-expected second-quarter sales results. Also, the company announced a binding <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40450880/bit-digital-reports-mixed-q2-results-eps-miss-revenue-up-80">term sheet with Boosteroid.</a>
Bit Digital reported quarterly losses of nine cents per share, which missed the analyst consensus estimate of losses of three cents per share. Quarterly revenue came in at $29 million, beating the analyst consensus estimate of $26.09 million by 11.16% and representing a 220.87% increase year-over-year.
Bit Digital shares jumped 11% to $3.32 in pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Treasure Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TGL#NASDAQ">TGL</a>) rose 122.4% to $1.29 in today's pre-market trading. Treasure Global recently submitted request to withdraw S-1 registration statement.</li>
<li>Heramba Electric plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PITA#NASDAQ">PITA</a>) gained 127% to $4.76 in pre-market trading after jumping around 10% on Monday.</li>
<li>Titan Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTNP#NASDAQ">TTNP</a>) gained 105.6% to $10.25 in pre-market trading. Titan Pharmaceuticals entered into merger and contribution and share exchange agreement regarding a business combination with KE Sdn. Bhd.</li>
<li>Tantech Holdings Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TANH#NASDAQ">TANH</a>) shares rose 60.1% to $0.2036 in pre-market trading.</li>
<li>MicroAlgo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLGO#NASDAQ">MLGO</a>) gained 30.5% to $0.7180 in pre-market trading after gaining around 12% on Monday.</li>
<li>MicroCloud Hologram Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLO#NASDAQ">HOLO</a>) gained 28.1% to $0.5340 in pre-market trading after climbing 43% on Monday.</li>
<li>Actelis Networks, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASNS#NASDAQ">ASNS</a>) gained 22.3% to $1.59 in pre-market trading after the company announced a strategic partnership with an advanced cybersecurity provider to develop and deliver a novel, AI-Powered SaaS offering, under Actelis&#8217; &#8216;Cyber Aware Networking&#8217; initiative.</li>
<li>Golden Sun Health Technology Group Limited  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSUN#NASDAQ">GSUN</a>) gained 19.1% to $6.62 in pre-market trading after dipping 25% on Monday.</li>
<li>Hawaiian Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HA#NASDAQ">HA</a>) shares gained 10.1% to $17.48 in pre-market trading. The proposed $1.9 billion merger between Alaska Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) and Hawaiian Airlines by Hawaiian Holdings has received clearance from the U.S. Justice Department, marking a significant step forward in the deal announced eight months ago. The merger is now pending approval from the U.S. Transportation Department.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Alzamend Neuro, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALZN#NASDAQ">ALZN</a>) shares fell 29.1% to $4.15 in pre-market trading. Alzamend Neuro shares jumped 188% on Monday after the company announced that it is partnering with Massachusetts General Hospital as its contract research organization to conduct first of its kind Phase II clinical study of AL001 for treatment of patients with PTSD.</li>
<li>Cingulate Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CING#NASDAQ">CING</a>) shares declined 25.6% to $9.52 in pre-market trading. Cingulate shares dipped 28% on Monday after the company increased the maximum offering price for common stock under its sales agreement from $8.47 million to $11.33 million.</li>
<li>Sidus Space, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIDU#NASDAQ">SIDU</a>) declined 22.1% to $2.97 in pre-market trading. Sidus Space reported quarterly losses of 99 cents per share and $927,570 in revenue for the second quarter.</li>
<li>NuCana plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCNA#NASDAQ">NCNA</a>) shares fell 20.5% to $7.69 in pre-market trading. NuCana shares surged 181% on Monday after Oppenheimer reiterated an outperform rating on the stock and maintained a $150 price target, citing the company&#8217;s randomized Phase 2 trial in metastatic colorectal cancer as a key catalyst.</li>
<li>GeoVax Labs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOVX#NASDAQ">GOVX</a>) fell 18.8% to $5.80 in today's pre-market trading. On Monday, Noble Capital Markets maintained an Outperform rating on the stock and raised its price target from $6 to $10.</li>
<li>Sonder Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOND#NASDAQ">SOND</a>) fell 16.6% to $5.04 in pre-market trading. Sonder shares surged over 130% on Monday after the company announced a long-term licensing agreement with Marriott. Additionally, the company secured $146 million in additional liquidity.</li>
<li>Fluent Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLNT#NASDAQ">FLNT</a>) fell 16.3% to $2.51 in pre-market trading as the company reported worse-than-expected second-quarter financial results on Monday.</li>
<li>Electra Battery Materials Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ELBM#NASDAQ">ELBM</a>) shares dipped 14.2% to $0.4797 in pre-market trading. Electra Battery Materials shares surged 50% on Monday after the Department of Defense announced it awarded the company a $20 million contract to complete an industrial scale hydrometallurgical plant and establish production of cobalt sulfate.</li>
<li>Vipshop Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>) shares declined 7.2% to $13.00 in pre-market trading after reporting second-quarter results.</li>
<li>ATRenew Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RERE#NYSE">RERE</a>) shares fell 6.7% to $2.65 in pre-market trading following second-quarter results.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/news/24/08/40454461/s-p-500-nasdaq-extend-gains-for-8th-consecutive-session-investor-sentiment-improves-but-greed-index">S&amp;P 500, Nasdaq Extend Gains For 8th Consecutive Session: Investor Sentiment Improves, But Greed Index Remains In &#8216;Fear&#8217; Zone</a></li>
</ul>

ALZN

ASNS

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FLNT

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HOLO

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Why Bit Digital Shares Are Trading Higher By Around 11%; Here Are 20 Stocks Moving Premarket

Second Quarter 2024 Highlights
<ul>
<li>Total net revenues&nbsp;for the second quarter of 2024 were RMB26.9 billion (US$3.7 billion), compared with RMB27.9 billion in the prior year period.</li>
<li>GMV[1] for the second quarter of 2024 was RMB50.6 billion, which largely stayed flat compared with that in the prior year period.</li>
<li>Gross profit&nbsp;for the second&nbsp;quarter of 2024 increased by 2.2% year over year to RMB6.3 billion (US$872.6 million) from RMB6.2 billion in the prior year period.&nbsp;</li>
<li>Net income attributable to Vipshop's shareholders&nbsp;for the second&nbsp;quarter of 2024 was RMB1.9 billion (US$265.7 million), compared with RMB2.1 billion in the prior year period.</li>
<li>Non-GAAP net income attributable to Vipshop's shareholders[2]&nbsp;for the second quarter of 2024 was&nbsp;RMB2.2 billion (US$298.0 million), compared with RMB2.4 billion in the prior year period.</li>
<li>The number of active customers[3]&nbsp;for the second&nbsp;quarter of 2024 was 44.3 million, compared with 45.6 million in the prior year period.</li>
<li>Total orders[4]&nbsp;for the second quarter of 2024 were 197.8 million, compared with 213.8 million in the prior year period.</li>
</ul>

Vipshop Holdings Reported Q2 GMV of RMB50.6B, No of Active Customers Was 44.3M Vs 45.6M YoY, Total Orders Were 197.8M Vs 213.8M YoY

Business Outlook
For the third quarter of 2024, the Company expects its total net revenues to be between RMB20.5 billion and RMB21.6 billion, representing a year-over-year decrease of approximately 10% to 5%. These forecasts reflect the Company's current and preliminary view on the market and operational conditions, which is subject to change.

Vipshop Holdings Expects Q3 Revenue Of RMB20.5B-RMB21.6B Vs RMB22.86B Est

Vipshop Holdings Q2 Adj EPADS $0.54, Inline, Sales $3.70B Beat $3.66B Estimate

Citigroup analyst Alicia Yap maintains Vipshop Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>) with a Buy and lowers the price target from $25 to $20.

Citigroup Maintains Buy on Vipshop Holdings, Lowers Price Target to $20

Benchmark analyst Fawne Jiang downgrades Vipshop Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>) from Buy to Hold.

Benchmark Downgrades Vipshop Holdings to Hold

Vishop Holdings shares are trading higher after the company reported better-than-expected Q1 adjusted EPADS results.

U.S. stocks were slightly lower, with the Dow Jones index falling around 10 points on Wednesday.
Shares of Analog Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADI#NASDAQ">ADI</a>) rose sharply during Wednesday's session following better-than-expected <a href="https://www.benzinga.com/quote/ADI/earnings">second-quarter financial results</a>.
Analog Devices posted adjusted earnings of $1.40 per share, beating market estimates of $1.26 per share. The company's quarterly sales came in at $2.160 billion versus expectations of $2.106 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Analog Devices shares surged 6% to $229.69 on Wednesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>IGM Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IGMS#NASDAQ">IGMS</a>) jumped 24% to $10.44.</li>
<li>Petco Health and Wellness Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WOOF#NASDAQ">WOOF</a>) gained 23% to $3.0201 following better-than-expected quarterly financial results.</li>
<li>CureVac N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVAC#NASDAQ">CVAC</a>) shares surged 20.3% to $3.9604.</li>
<li>Daqo New Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DQ#NYSE">DQ</a>) shares rose 12.1% to $21.43.</li>
<li>Bloom Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BE#NYSE">BE</a>) jumped 10.7% to $16.76.</li>
<li>SunPower Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPWR#NASDAQ">SPWR</a>) gained 10.5% to $3.0294 after the company announced it will now offer Tesla Powerwall 3 as part of its portfolio.</li>
<li>Novavax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>) gained 9.5% to $16.33. Shah Capital recently withdrew its proxy campaign against the re-election of directors at Novavax&#8217;s 2024 Annual Meeting.</li>
<li>Canadian Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>) climbed 9.2% to $17.28. Roth MKM analyst Philip Shen maintained Canadian Solar with a Buy and maintained a $25 price target.</li>
<li>Brady Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRC#NYSE">BRC</a>) rose 8.6% to $65.48 after the company posted upbeat quarterly earnings and raised earnings guidance for FY24.</li>
<li>Loar Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOAR#NYSE">LOAR</a>) gained 7.8% to $60.31.</li>
<li>First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) climbed 7.3% to $227.62.</li>
<li>Fluence Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLNC#NASDAQ">FLNC</a>) gained 7.1% to $20.18.</li>
<li>The TJX Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>) rose 6.8% to $104.32 following upbeat earnings.</li>
<li>BioNTech SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>) gained 6.4% to $98.00.</li>
<li>Vipshop Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>) rose 5.7% to $17.38 following upbeat quarterly earnings.</li>
<li>Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) gained 5.6% to $151.80.</li>
<li>Crinetics Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRNX#NASDAQ">CRNX</a>) shares gained 5.5% to $52.22 after the company announced the early release of ENDO 2024 late-breaking abstracts..</li>
<li>Williams-Sonoma, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>) rose 4.7% to $329.05 after the company reported first-quarter financial results.</li>
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Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/05/38962846/jim-cramer-this-industrial-stock-is-doing-very-well-heres-his-take-on-palantir">Jim Cramer: This Industrial Stock Is Doing &#8216;Very Well&#8217;; Here&#8217;s His Take On Palantir</a>

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Analog Devices Posts Strong Earnings, Joins TJX, Williams-Sonoma And Other Big Stocks Moving Higher On Wednesday

Vipshop Holdings Limited&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>) reported first-quarter sales of $3.83 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/n38957983/vipshop-reports-unaudited-first-quarter-2024-financial-results" rel="noreferrer noopener">which missed the Wall Street view of $3.93 billion</a>.
Total orders for the quarter were 178.5 million,&nbsp;<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">compared with 184.4 million in the prior year period.</a>
Gross margin for the first quarter increased to 23.7% from 21.4% in the prior year period. Gross profit jumped 10.9%&nbsp;year over year&nbsp;to&nbsp;RMB6.5 billion&nbsp;($906.5 million).
GMV&nbsp;for the first quarter increased by 8% year over year to&nbsp;RMB52.4 billion&nbsp;from&nbsp;RMB48.5 billion&nbsp;in the prior year&nbsp;period.
Vipshop Holdings&nbsp;registered&nbsp;adjusted earnings per ADS of 65 cents, which beat the analyst consensus of 39 cents.&nbsp;
As of&nbsp;March-end, the company had cash and cash equivalents&nbsp;and&nbsp;restricted&nbsp;cash&nbsp;of&nbsp;$3.4 billion, and&nbsp;short term&nbsp;investments of&nbsp;$402.9 million.
Share Repurchase Program: During the quarter, the company repurchased&nbsp;$11.9 million&nbsp;of its ADSs under its current&nbsp;$1 billion&nbsp;share repurchase program,&nbsp;which is&nbsp;effective through&nbsp;March 2025.&nbsp;
The company is committed to repurchasing approximately&nbsp;$500 million&nbsp;of its ADSs by&nbsp;December 2024-end.
Outlook:&nbsp;For the second quarter of 2024, the company expects its total net revenues to be between&nbsp;RMB26.5 billion&nbsp;and&nbsp;RMB27.9 billion, representing a year-over-year decrease of approximately 5% to 0%&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">(estimate: RMB29.3 billion).&nbsp;</a>
Price Action:&nbsp;VIPS shares are trading higher by 4.5% to $17.19 at last check Wednesday.&nbsp;

General

Vipshop Holdings Q1 Revenue Misses Estimate; Plans To Repurchase Stock Worth $500M By Year-end

Index futures are trading uniformly lower early Wednesday after the market&#8217;s resilient upward move in the previous session. The sentiment is likely to remain guarded ahead of Nvidia Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38958935/can-nvidia-live-up-to-the-hype-analyst-says-q1-earnings-anticipation-like-that-of-a">quarterly report due after the market opens.</a> Traders may also pore over the May Federal Open Market Committee meeting minutes to glean cues that can clarify the near-term rate trajectory.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.01%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.07%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.08%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.22%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Wednesday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.11% to $530.80, while the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) traded up 0.01% at $455.86 according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Last Session
The major averages closed modestly higher on Tuesday, as traders pondered over the Fed speeches and showed caution ahead of Nvidia&#8217;s earnings. The indices opened lower but made good their losses in early trading and spent the better part of the session above the unchanged line.
The Nasdaq Composite and the S&amp;P 500 Index ended at fresh closing records, while the Dow Jones Industrial Average closed just shy of its record under the 40,000 mark. Most sectors saw either muted gains or were flattish, while energy and industrials ended firmly in the red.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+0.22%</td>
<td>16,832.62</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.25%</td>
<td> 5,321.41</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.17%</td>
<td>39,872.99</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.20%</td>
<td>2,098.36</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> Insights From Analysts:</figcaption></figure>
Nvidia&#8217;s earnings will put a bookend on the earnings season, and the market will likely move sideways until we hear the results and outlook, said fund manager Louis Navellier. &#8220;The option market is priced for an 8% swing in both directions, down from the last 4 quarters&#8217; average of a 13% swing, a positive&nbsp;sign.,&#8221; he said.
Amid the buoyancy, Comerica Chief Investment Officer John Lynch sounded a note of caution. &#8220;While the fresh records for equity indexes suggest a positive commentary on risk appetite, the reemergence of &#8216;meme stocks&#8217; requires us to be on guard against over-exuberance,&#8221; he said.
&#8220;Extraordinary monetary and fiscal policy stimulus has been a tailwind for asset prices, but at some point, earnings must substantiate these price levels.&#8221;
Upcoming Economic Data:
<ul>
<li>The National Association of Realtors will release the existing home sales report for April at 10 a.m. EDT. Economists, on average, expect existing home sales to come in at a seasonally adjusted annual rate of 4.21 million units, slightly up from 4.19 million units in March.</li>
<li>The Energy Information Administration will release its weekly petroleum status report at 10:30 a.m. EDT.</li>
<li>The Treasury will auction 20-year bonds at 1 p.m. EDT.</li>
<li>The Fed will release the minutes of June 30-May 1 FOMC meeting at 2 p.m. EDT. At the meeting, the Fed announced a pause decision but the post-meeting policy statement and Chair Jerome Powell&#8217;s comments at the press conference bordered along dovishness and perked up rate-cut hopes.</li>
</ul>
See Also: <a href="https://www.benzinga.com/money/best-futures-brokers">Best Futures Brokers</a>
Stocks In Focus:
<ul>
<li>Viasat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSAT#NASDAQ">VSAT</a>) fell about 11% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following its quarterly results announcement while Urban Outfitters, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/URBN#NASDAQ">URBN</a>) gained about 6.50% on earnings.</li>
<li>Analog Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADI#NASDAQ">ADI</a>), PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>), TJX Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>), Williams-Sonoma, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>), Target Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) and Vipshop Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>) are among the other <a href="https://www.benzinga.com/calendars/earnings">notable companies reporting before the market opens.</a></li>
<li>Those reporting after the close include Nvidia, Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>), Synopsys, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>), V.F. Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VFC#NYSE">VFC</a>) and Zuora, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZUO#NYSE">ZUO</a>).</li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures were weaker yet again and gold futures also pulled back. The U.S. 10-year note yield fell 2.9 basis points to 4.443% and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) traded just above the $70,000 level.
The major Asian markets ended mixed amid caution, with Japan retreating on weak domestic data. While some of the other markets in the region witnessed modest losses, the Chinese market ended marginally higher. The New Zealand, Indonesian, Indian and Taiwanese markets gained some ground. The Reserve Bank of New Zealand kept its official cash rate unchanged but hinted sticky inflation could keep rates steady for longer.
European stocks also started on a lackluster note.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38944384/3-stocks-to-watch-as-copper-surges-to-record-highs-something-is-cooking-in-china">3 Stocks To Watch As Copper Surges To Record Highs: &#8216;Something Is Cooking In China&#8217;</a>
Photo via Shutterstock

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Wall Street Braces For Subdued Start Ahead Of Nvidia Earnings, Fed Minutes: Analyst Cautions About Guarding Against 'Over-Exuberance'

Vipshop shares pressured by soft Q3 guidance, declining Q2 orders

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Vipshop Holdings (NYSE:<a href="https://investorplace.com/stock-quotes/vips-stock-quote/">VIPS</a>) just reported results for the second quarter of 2024.<ul><li>Vipshop Holdings reported earnings per share of 54 cents. This met the analyst estimate for EPS of 54 cents.</li><li>The company reported revenue of $3.70 billion.</li><li>This was 1.04% better than the analyst estimate for revenue of $3.66 billion.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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						<a href="https://investorplace.com/2024/04/legendary-investor-predicts-forget-a-i-this-technology-is-the-future/?cid=MKT794457&amp;eid=MKT802109">Legendary Investor Predicts: &ldquo;Forget AI... THIS Technology Is the Future&rdquo;</a>
					</li>
									</ul>The post <a href="https://investorplace.com/earning-results/2024/08/vips-stock-earnings-vipshop-holdings-for-q2-of-2024/">VIPS Stock Earnings: Vipshop Holdings Meets EPS, Beats Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

VIPS Stock Earnings: Vipshop Holdings Meets EPS, Beats Revenue for Q2 2024

Vipshop Holdings Limited (VIPS) Q2 2024 Earnings Call Transcript

In a report released today, Eddy Wang from Morgan Stanley maintained a Hold rating on Vipshop (VIPS – Research Report), with a price target of $14....

Maintaining Hold on Vipshop Amidst Revenue Decline and Challenging Market Conditions

Benchmark Co. analyst Fawne Jiang maintained a Hold rating on Vipshop (VIPS – Research Report) today. The company's shares closed yesterday at $11....

Benchmark Co. Keeps Their Hold Rating on Vipshop (VIPS)

Vipshop rating cut by at least two Street analysts on softer outlook

Vipshop: The Struggle Continues

Vipshop: A Value Trap

Allspring Emerging Markets Equity Fund Q2 2024 Quarterly Review

Vipshop (VIPS) has released an update. Vipshop Holdings Limited announces the resignation of its Chief Technology Officer, Mr. Tao Feng, and the ap...

Vipshop Appoints New CTO Amidst Leadership Shift

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Press Releases

Vipshop Reports Unaudited Third Quarter 2023 Financial Results

Vipshop Releases the Carbon Reduction Goals and Action Report

Vipshop to Announce Fourth Quarter and Full Year 2023 Financial Results on February 28, 2024

Vipshop Reports Unaudited Fourth Quarter and Full Year 2023 Financial Results

Vipshop Filed 2023 Annual Report on Form 20-F

Vipshop to Announce First Quarter 2024 Financial Results on May 22, 2024

Vipshop Reports Unaudited First Quarter 2024 Financial Results

Vipshop Releases 2023 Environmental, Social and Governance (ESG) Report

Vipshop to Announce Second Quarter 2024 Financial Results on August 20, 2024

Vipshop Reports Unaudited Second Quarter 2024 Financial Results

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Vipshop Holdings

Vipshop Holdings (VIPS) Forecast

Vipshop Holdings (NYSE:VIPS) Stock, Quote.Headers.trade-ideas