Midday movers: PDD Holdings, NVIDIA fall; Xpeng gains

(Updated - August 26, 2024 11:50 AM EDT)

Investing.com -- U.S. stock futures were mixed Monday, with strength in the Dow and weakness in the Nasdaq and S&P 500, ahead of results from AI bellwether NVIDIA (NASDAQ:NVDA) later this week.

Here are some of the biggest U.S. stock movers today:

Daqo New Energy (NYSE:DQ) shares were down around 1% after the polysilicon maker reported a loss in its second quarter, compared to prior year's profit, on sharply lower revenues.

Guardant Health (NASDAQ:GH) (GH) shares were down approximately 10% after filing an open-market agreement to sell as much as $400 million in shares via Jefferies.

PDD Holdings (PDD) shares dropped as much as 39% after reporting weaker-than-expected sales, indicating that Temu’s growth is falling short of investors lofty expectations.

SolarEdge Technologies (NASDAQ:SEDG) saw shares fall 9% after CEO Zvi Lando announced that he is stepping down.

Xpeng (NYSE:XPEV) shares were up 9% after the Chinese electric-car maker said chairman and CEO He Xiaopeng had purchased one million Class A shares of the company in the open market at an average of HK$27.13 each, according to a Hong Kong stock exchange announcement Monday.

NVIDIA (NVDA) declined 2% ahead of its second results on Wednesday. Shares of AMD (NASDAQ:AMD), Broadcom (NASDAQ:AVGO) and Super Micro Computer (NASDAQ:SMCI) were also lower.

CAVA Group (CAVA) rose 4%, adding to last weeks gain following strong results and guidance, as more analysts raised their price target on the stock.

Additional reporting by Louis Juricic