LexinFintech Holdings (LX) shares fell 17% in Tuesday trading after Citigroup downgraded the stock to neutral from buy and lowered its price target to $1.20 from $4.38.
Intraday volume topped 22.5 million shares, compared with the daily average of 2.4 million.
Price: $0.88, Change: $-0.19, Percent Change: -17.48%
Sono Group (SSM) and Sports One signed a nonbinding letter of intent to combine, aiming to create a publicly traded company that would acquire minority stakes in NFL, NBA, MLB and NHL franchises alongside a sports intelligence business.The proposed company would be renamed Sports One and led by Sports One's management team, the companies said Monday in a statement.Concurrently with the signing of the letter of intent, a group of investors, including Sports One affiliates, purchased 283,500 Sono shares in a registered direct offering, representing 19.9% of the outstanding shares, according to the statement.Sono shares jumped 62% in after-hours trading.
Cango (CANG) reported a Q2 loss from continuing operations late Monday of $1.99 per diluted share, narrowing from the loss of $15.67 a year earlier.One analyst polled by FactSet expected a loss of $0.91.Revenue in the three months ended June 30 fell to $50.8 million from $139.8 million a year earlier.Two analysts projected $60.7 million.Cango shares fell 9.6% in after-hours trading.
Meta Platforms (META) said Monday it is bringing Muse Code out of beta, with new features and additions.Muse Code now offers inter-session messaging, workflow, and rewind in the command-line interface, a developer preview of the software development kit, and subscription plans, the company said.Muse can handle even more complex multi-session and multi-agent engineering tasks and support a wider range of ways to build, the company added.Price: $572.47, Change: $-5.55, Percent Change: -0.96%