Market movers: Coinbase, Hertz, Candel Therapeutics, JD Sports...
Published: 14:45 13 May 2025 EDT
Chinese eCommerce company JD.com Inc (NASDAQ:JD) has reported strong financial results for the first quarter, sending its US-listed shares higher.
Revenue for the quarter was RMB301.1 billion (US$141.5 billion), an increase of 15.8% compared to RMB260 billion in the same period of 2024.
Hertz (NYSE:HTZ) shares plunged more than 14% after the car rental agency reported a wider-than-expected loss for the first quarter.
The company posted an adjusted loss of $1.12 per share, compared to analysts' expectations of a $0.95 loss.
Shares of Coinbase Global Inc (NASDAQ:COIN) rose nearly 19% on Tuesday after S&P Dow Jones Indices announced the cryptocurrency exchange will join the S&P 500, marking a major milestone for the digital-asset sector.
The move makes it the first crypto-focused company to be added to the benchmark US stock index.
Candel Therapeutics Inc (NASDAQ:CADL) reported a quarterly profit and said it remains on track to submit a biologics license application (BLA) in late 2026 for its lead cancer therapy, CAN-2409, aimed at treating localized prostate cancer.
The clinical-stage biotech posted net income of $7.4 million for the first quarter ended March 31, compared with a net loss of $8.2 million a year earlier, helped by a $15.5 million gain linked to changes in the fair value of its warrant liability.
UnitedHealth Group Inc (NYSE:UNH, ETR:UNH) shares fell over 10% in premarket trading after the health insurance giant withdrew its guidance for the current year and announced the departure of its chief executive officer.
Stephen J. Hemsley, former CEO who led the company from 2006-2017, has taken the CEO role as well as remaining chairman of the board, effective immediately.
Eden Research PLC (AIM:EDEN, OTCQB:EDNSF) shares rose 20% on Tuesday after the company announced that its flagship biopesticide, Mevalone, has been approved for use against powdery mildew in Californian grape production.
The green light from US regulators expands the product’s existing authorisation in California, where it is already approved for use against Botrytis cinerea.
