Stocks were falling Thursday amid a resurgence of coronavirus cases that had investors concerned that new restrictions intended to curb the disease could shut down any economic recovery.
Here are some of the big movers in the stock market on Thursday:
1. Jaws Acquisition | Percentage Increase 16%
Jaws Acquisition (JWS) - Get Report was rising after health-care provider Cano Health said that it would go public by merging with the special purpose acquisition company backed by real estate investor Barry Sternlicht, in a deal valued at $4.4 billion, including debt.
2. Pinduoduo | Percentage Increase 20%
Pinduoduo (PDD) - Get Report jumped after the Shanghai e-commerce platform beat Wall Street's third-quarter earnings expectations. Revenue surged 89%. The number of average monthly active users on the platform rose 50% to 643.4 million during the quarter, while active buyers rose 36% to 731.3 million.
3. Fossil Group | Percentage Increase 24%
Fossil Group (FOSL) - Get Report leaped after the watchmaker reported revenue that beat its own expectations in the third quarter. Net income was $16 million, or 31 cents a share, swinging from a loss of $25.9 million, or 51 cents a share, a year earlier. Gross margin widened 1.2 percentage points to 52.8%.
4. Celsius Holdings | Percentage Increase 29%
Celsius Holdings (CELH) - Get Report climbed after the fitness beverage maker beat Wall Street's third-quarter earnings estimates. Revenue increased 80% to $36.8 million due to continued growth in North America, reflecting double-digit growth from existing accounts, new distribution and expanded distribution to major retailers.
5. Li Auto | Percentage Increase 27%
Chinese electric vehicle Li Auto LI surged as encouraging data about Chinese EV sales came out ahead of the company's quarterly report, which is scheduled for Friday. Sales of new-energy vehicles are expected to rise to about 1.1 million units this year. Rival EV maker XPeng said third-quarter revenue rose fourfold.