adminShares of Chinese EV Maker Nio Rise as Vehicle Deliveries Jump
1 hr 13 min ago
U.S.-traded shares of Nio (NIO) advanced in early trading Thursday as the Chinese electric vehicle maker boosted its outlook following record deliveries.
Nio posted a second-quarter loss of 5.05 billion yuan ($694.4 million), 16.7% smaller than a year ago. Revenue soared 99% to 17.45 billion yuan, which was in line with analysts' expectations
Vehicle deliveries jumped 144% to 57,373 units in the second quarter, and the company expects a number of between 61,000 and 63,000 in the current quarter. In addition, Nio sees revenue in a range of 19.11 billion yuan and 19.67 billion yuan, better than analysts' estimates.
American Depositary Receipts in Nio were up 6% in recent trading.
–Bill McColl
Stock Futures Point to Lower Open for Major Indexes
2 hr 50 min ago
Futures tied to the Dow Jones Industrial Average were down fractionally.
S&P 500 futures were down 0.1%.
Nasdaq 100 futures were down about 0.3%.
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