Pre-market US stocks | JD.com and Alibaba rise more than 2%, LI AUTO-W continues to rise 4%, Disney falls 6%! JD.com CFO Xu Ran promoted to CEO

US Stock News

1. S&P Global Market Intelligence: The US five-year credit default swap (CDS) rose from 73 basis points at yesterday's close to 74 basis points, the highest level since March 2009.

2. China's M2 money supply growth rate in April was 12.4%, expected to be 12.50%, and the previous value was 12.70%. The incremental social financing scale in April was 1.22 trillion yuan, 272.9 billion yuan more than the same period last year.

3. Honda Motor: Revenue for the fiscal year 2023 is expected to be 16.9 trillion yen, a year-on-year increase of 16%, and the market expects 17 trillion yen; operating profit is expected to be 839 billion yen, and the market expects 892.5 billion yen. The company plans to buy back stocks worth up to 200 billion yen.

4. On May 11th, Wang Wentao, Minister of Commerce, met with US Ambassador to China Burns as scheduled, and exchanged views on China-US economic and trade relations and issues of mutual concern. (Ministry of Commerce)

5. Microsoft bets on startups: Helion, supported by OpenAI founder Sam Altman, promises to start generating electricity through nuclear fusion by 2028 and provide Microsoft with a target of at least 50 megawatts of electricity one year later, otherwise it will pay a fine.

6. Disney's second-quarter revenue was US$21.8 billion, a year-on-year increase of 13%, in line with market expectations; adjusted earnings per share were US$0.93, in line with market expectations, and US$1.08 in the same period last year. Divided by business, Disney's park, experience, and product revenue was US$7.78 billion, a year-on-year increase of 17%. The operating profit of this business was US$2.166 billion, a year-on-year increase of 23%.

7. Beyond Meat: Net revenue for the first quarter was US$92.2 million, and the market expected US$90.7 million. The company reiterated its outlook.

JD.com's first-quarter revenue was 243 billion yuan, a year-on-year increase of 1.4%; net profit was 6.3 billion yuan, compared with a loss of 3 billion yuan in the same period last year; both were better than market expectations. Xu Lei will step down as JD.com CEO.

Pre-market Movement

In pre-market trading, Dow Jones futures fell slightly, Nasdaq futures rose, and S&P 500 futures rose 0.2%.

Disney fell nearly 6%, with 157.8 million Disney+ subscribers in Q2 of fiscal year 2023, a 2% decrease from the previous quarter.

Alibaba and JD.com rose more than 2%, Pinduoduo rose 1.6%, and Baidu rose more than 1%. LI AUTO-W rose nearly 4%, while Xiaopeng and NIO rose nearly 1%.

Alphabet-C rose 1.4%, Robinhood rose nearly 4%, and Beyond Meat fell more than 2%. The output is omitted as the input text contains sensitive financial information.