NIO Reports Q3 Results, Joins Hovnanian Enterprises, Signet Jewelers And Other Big Stocks Moving Higher On Tuesday

U.S. stocks traded mostly lower, with the Dow Jones index falling more than 100 points on Tuesday.

Shares of NIO Inc. NIO moved higher during Tuesday’s session after the company reported third-quarter financial results and issued guidance.

Nio reported third-quarter revenue of 19.07 billion yuan ($2.61 billion), up by 46.6% year-over-year and 117.4% from the previous quarter. Analysts, on average, estimated revenue of $2.63 billion for the quarter.

Excluding share-based compensation expenses, the company reported a non-GAAP loss of 2.28 yuan ($0.31) compared to 2.11 yuan in the year-ago quarter and 3.28 yuan in the second quarter of 2023. Analysts had called for a loss of $0.43 per share.

NIO shares gained 6.2% to $7.78 on Tuesday.

Here are some other big stocks recording gains in today’s session.

• XBP Europe Holdings, Inc. XBP shares gained 24.7% to $47.40.
• Travere Therapeutics, Inc. TVTX jumped 24% to $7.80. Travere completes successful pre-NDA meeting for FILSPARI in IgAN. Citigroup upgraded Travere Therapeutics from Neutral to Buy and raised the price target from $7 to $10.
• Gyre Therapeutics, Inc. GYRE surged 15.5% to $18.56.
• TeraWulf Inc. WULF jumped 11% to $1.71 after the company announced November 2023 production and operations updates.
• EyePoint Pharmaceuticals, Inc. EYPT climbed 8.3% to $19.86.
• Adecoagro S.A. AGRO rose 7.7% to $11.88. B of A Securities upgraded Adecoagro from Neutral to Buy and raised the price target from $12.5 to $14.
• Cerevel Therapeutics Holdings, Inc. CERE gained 7.2% to $34.08.
• GitLab Inc. GTLB gained 6.8% to $56.55 after the company posted better-than-expected results for its third quarter and issued a strong forecast for FY24.
• Hovnanian Enterprises, Inc. HOV climbed 6.4% to $105.29 following fourth-quarter results.
• XP Inc. XP climbed 5.5% to $23.93 after JP Morgan upgraded the stock from Neutral to Overweight and raised its price target from $27 to $30.
• Signet Jewelers Limited SIG gained 4% to $88.06 following upbeat quarterly results.

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