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Dow Jones Futures Signal Modest Market Rally; CrowdStrike Leads Earnings Movers, Tesla Rivals Report Sales

Posted Date: September 01 2021
Dow Jones futures rose modestly early Wednesday, along with S&P 500 futures and Nasdaq futures. The stock market rally paused Tuesday while Zoom Video Communications (ZM) plunged. CrowdStrike stock headlined earnings movers overnight. Nio (NIO) and other China EV makers reported monthly sales with Tesla stock just above an aggressive entry.
CrowdStrike (CRWD), Anaplan (PLAN) and Ambarella (AMBA) reported earnings late Tuesday.
All three topped estimates. CRWD stock fell overnight while PLAN stock surged and AMBA stock popped.

Nio Sales

Nio reported August deliveries of 5,880, up 48% vs. a year earlier but down 26% from 7,931 in July. Nio cited record new orders but blamed supply-chain issues, almost certainly including chips, for hampering production.  It cut its Q3 delivery target to 22,500-23,500 from 23,000-25,000. Fellow EV startup Xpeng (XPEV) delivered 7,214 EVs, mostly its P7 sedan, up 172% vs. a year earlier. That's down 10% from 8,040 in July. Xpeng will begin deliveries of its smaller P5 sedan, first production car with Lidar, in October. Li Auto (LI) sold 9,433 Li One SUVs, which have a small gas engine as a range extender. That's 248% above a year earlier and up 9.8% from 8,589 in July.
China EV giant BYD Co. (BYDDF) will likely follow in a couple days. Li Auto and BYD recently reported earnings, following Nio and Xpeng earlier last month.
Nio stock fell 5% Wednesday morning, near multi-month lows. Xpeng stock retreated 3% after reclaiming its 50-day line Tuesday. Li Auto stock was little changed after rallying Tuesday to just below its 50-day. BYD stock, not yet active, is in a handle, near a buy point and all-time highs.

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