Shares in Chinese e-commerce titan Alibaba Group Holding Ltd (NYSE:BABA) surged nearly 4% in pre-market New York deals to $156.47.
It came as third-quarter earnings came in better than scribes on Wall Street had expected.
Earnings per share (EPS) for the three months was $1.40, which was $0.34 better than the $1.06 expected.
Alibaba's cloud computing doubled, youku users and international retail business showed pretty healthy growth. Adjusted income also beat estimates at 23.5 billion yuan, possibly bolstering a 3.9% rise in pre-market share price pic.twitter.com/quxBByWlxF— Lulu Yilun Chen (@luluyilun) 2 November 2018
Meanwhile revenue for the China-focused firm was $12.4 billion versus the consensus estimate of $12.49 billion.
Excluding non-recurring items, earnings per share (EPS) came to $0.81, smashing consensus of $0.65.
Sales fell 10.9% to $2.28 billion, which was below the $2.35 billion analysts had penciled in.
But Newell raised its 2018 adjusted EPS guidance range to between $2.55 and $2.75 from $2.45 to $2.65, and repeated sales outlook of between $8.7 billion and $9.0 billion.
Shares are at $20.24 at the time of writing.
Adjusted earnings for the second quarter were $0.42 while revenue slipped to $1.18 billion from $1.24 billion in the year-ago period.
Analysts had forecast earnings of $0.33 on revenue of $1.15 billion.
Going the other way in pre-market, Universal Display Corp (NASDAQ:OLED) shares tanked over 26% to $95.40 after the display and lighting company's results fell below estimates.
Third quarter net income was $0.48 versus $0.28 in the year-ago period.
Revenue rose to $77.6 million from $61.7 million a year ago. Analysts had had forecast earnings of $0.66 on revenue of $91.4 million.
Shares have plunged over 60% since the beginning of the year
The company posted a quarterly loss of $0.37 per share versus consensus of a loss of $1.07.
That compared to a loss $1.36 per share a year ago.