Asian markets fell after Moody’s astutely downgraded China. Japan, Hong Kong, and China stock exchanges fell.
China electric vehicle firm Nio (NIO) traded higher despite reporting non-GAAP and non-accounting standards. It lost 30 cents a share non-GAAP EPADS. Revenue increased by 46.6% Y/Y to $2.61 billion. For Q4, Nio expects an increase of 17.3% - 22.3% in vehicle delivery, or 47,000 to 49,000 units.
Five9 gained 7.4% on Dec. 4 on rumors that the call center software firm would explore a sale. FIVN stock traded flat in pre-market. Zoom (ZM), which has no growth catalysts, is a possible buyer.
Once a feature phone juggernaut, Nokia (NOK) lost 9.46% yesterday and lost another 7.28% this morning. AT&T T() picked Ericsson (ERIC) for an Open RAN contract worth $14 billion. ERIC stock gained 4.58% yesterday and another 2.9% in pre-market trade. Still, its investors lost 11.6% YTD.
Take-Two stock (TTWO) is -2.89% after its future blockbuster game trailer, Grand Theft Auto VI, leaked. Take-Two planned to release the trailer today December 5 at 9 a.m. The trailer leak was released on X (Twitter). The highly immersive story-driven open-world game will bring billions in revenue for Take-Two.
E-commerce firm Sea (SE) fought a downgrade by rising by 1.92% on Dec. 4. It is down 2.3% to $37.32 as selling pressure mounts.
