XPEV - 5 stocks to watch on Monday: M&T Bank Xpeng and more
2023-04-17 08:18:57 ET
The futures are pointing to a mild advance at the start of Monday's trading, following a modest decline to close out last week. Earnings news, especially from financial firms, will provide a key catalyst. Here are some stocks to watch on Monday:
- M&T Bank ( NYSE: MTB ) advanced in premarket trading after the company released its quarterly results , with shares rising by 4%. The bank beat expectations for both its earnings and revenue. "These results reflect loan growth, steady credit quality, a strong liquidity position and, as in past years, seasonally higher salaries and employee benefits expense," the company's CFO said.
- Xpeng ( XPEV ) announced that it will implement a new manufacturing platform that will cut costs in China. The new system will be built out by 2025. Shares of Chinese electric vehicle maker climbed almost 12% before the opening bell.
- Ollie's Bargain Outlet ( OLLI ) rose more than 3% in premarket trading after receiving an upgrade from JPMorgan , which raised its rating on the low-cost retailer to Neutral from Underweight. The upgrade came as analyst Matthew Boss expressed greater confidence in same-store sales and a strong closeout deal flow.
- An analyst comment sparked selling in Teradyne ( TER ), with the stock slumping 4% before the opening bell. JP Morgan downgraded the semiconductor equipment company to Underweight from Neutral . This came as analyst Samik Chatterjee pointed to an "overestimated" rebound.
- J.B. Hunt Transport Services ( JBHT ) is scheduled to report its quarterly results after the closing bell. The trucking firm is projected to earn $2.02 per share, with revenue predicted to slip to $3.42B.
Looking at the early earnings season, Seeking Alpha contributor Mott Capital Management argued that "better-than-feared results" from banks have "caused the market to start repricing the path of monetary policy ."
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5 stocks to watch on Monday: M&T Bank, Xpeng and more