Xpeng, Dell, and Other Major Stocks Decline in Pre-Market Trading on Monday
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 17 2025
0mins
Source: Benzinga
U.S. Stock Futures: U.S. stock futures showed mixed results, with Dow futures down approximately 0.1% on Monday morning.
Xpeng Inc Financial Results: Xpeng Inc reported a quarterly revenue of 20.38 billion Chinese yuan ($2.86 billion), a 101.8% increase year-over-year, but fell short of the $2.87 billion forecast, leading to a 3.6% drop in pre-market trading.
Other Stocks Declining: Several stocks experienced declines in pre-market trading, including Plug Power Inc (-6.1%), Lexicon Pharmaceuticals Inc (-6%), and Dell Technologies Inc (-4.7%) after a downgrade by Morgan Stanley.
Market Overview: The overall market sentiment appears cautious, with various companies reporting losses and analysts adjusting their ratings, indicating potential challenges ahead.
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Analyst Views on NMR
About NMR
Nomura Holdings Inc is a Japan-based company mainly engaged in the securities, investment, and other financial services business across the world. The Company has three business segments. The Sales segment provides investment consultation services to individual clients in Japan. The Investment Management segment provides investment management services and investment solutions, including the establishment and management of investment trusts, discretionary investment services for domestic and foreign investors, fund management and administration for investment corporations and institutional investors, and silent partnership management. The Wholesale segment is engaged in the sale and trading of bonds, equity securities, derivatives, and foreign exchange, as well as investment banking services such as the bonds and securities underwriting business, merger and acquisition (M&A) business and financial advisory services. The Company operates in Japan, the Americas, Europe, Asia and Oceania.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Government Intervention Preparedness: Japan's Finance Minister Satsuki Katayama stated that the government is ready to take appropriate action against excessive currency fluctuations, emphasizing the importance of coordination with the U.S. to address market instability.
- Short-lived Market Reaction: Nomura's North Asia Chief Investment Officer Julia Wang noted that while yen depreciation could trigger intervention, its impact on broader markets is expected to be short-lived, reflecting a cautious market attitude towards the effectiveness of such interventions.
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- Structural Factors at Play: Despite the BOJ raising rates to a three-decade high, U.S. Treasury yields remain high at 4.451%, making carry trades attractive and exacerbating downward pressure on the yen.
- Political Factors Interfering: The Japanese government's preference for easy monetary policy to stimulate growth limits capital inflows, and the dovish stance of newly appointed BOJ board members may influence future monetary policy directions.
See More
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- Continued Import Surge: Imports increased by 27.4% in May, up from 25.3% in April, primarily driven by specific categories like semiconductors and gold, suggesting strong import demand despite high cost pressures.
- Weak Domestic Consumption: Despite strong exports, domestic consumption remains weak, with retail sales growth expected to fall to zero in May, reflecting the fading impact of trade-in subsidies and increasing risks of economic slowdown.
- Rising Producer Prices: Producer Price Index is expected to accelerate to 3.8% in May, the highest level in nearly four years, indicating manufacturers are absorbing higher input costs, while consumer inflation is projected to be modest at 1.3%.
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- Structural Market Dynamics: Analysts from Goldman Sachs noted that the selling was primarily driven by outflows from the Kospi Tech and Auto sectors, reflecting forced selling due to the market's success, as foreign investors adjust their portfolios.
- Domestic Investor Resilience: Despite the foreign selling, domestic investors have countered this trend with an estimated $70 billion in retail inflows, demonstrating strong confidence in the Korean stock market.
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See More
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- Structural Market Pressures: The rapid rise of the Korean stock market has significantly increased foreign investors' weightings in global and emerging market benchmarks, forcing many active fund managers to trim their positions to adhere to portfolio and risk limits.
- Domestic Investor Inflows: Despite ongoing foreign selling, a wave of domestic buying has compensated for the outflows, with retail inflows estimated at $70 billion this year, demonstrating the market's resilience.
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