These stocks were poised to make moves Wednesday:

Chinese ADRs continued to jump in premarket trading on Wednesday. Tiger Brokers rose 20%; KE Holdings rose 14%; Bilibili rose over 12%; JD.com, XPeng rose over 10%; Li Auto rose over 9%; NIO, Baidu rose about 7%.

The extended rally is driven by optimism about China’s economy and risk assets after the authorities unveiled a range of stimulus measures last week that included interest-rate cuts, freeing-up of cash for banks, and liquidity support for stocks. Four major cities also eased home-buying curbs and the central bank moved to lower mortgage rates.

Nike was down 5.7% after the athletic apparel and gear maker said it was withdrawing guidance for fiscal 2025 and postponing its first investor day in seven years to give recently appointed CEO Elliott Hill time to evaluate the company’s strategies. Nike reported fiscal first-quarter earnings of 70 cents a share, beating analysts’ estimates of 52 cents. Revenue of $11.6 billion fell 10% from a year earlier and was roughly in line with expectations. Sales in North America dropped 11% as footwear sales sank 14%.

Tesla was falling 1% ahead of the release of the electric-vehicle maker’s third-quarter deliveries. Wall Street estimates deliveries of about 462,000 in the period, up roughly 6% from a year earlier. Tesla sold about 831,000 vehicles in the first half of the year, down about 7% from the first six months of 2023. The stock declined 1.4% on Tuesday and has risen 3.8% in 2024.

Lamb Weston, the frozen potatoes supplier, posted fiscal first-quarter profit of $127 million, down 46% from a year earlier, and announced a restructuring plan, saying that restaurant traffic and frozen potato demand, relative to supply, “continue to be soft, and we believe it will
remain soft through the remainder of fiscal 2025.” The restructuring includes, among other actions, reducing the company’s global workforce by about 4%, and closing a processing facility. Shares declined 4.5%.

Cal-Maine Foods was flat in premarket trading after the egg producer’s fiscal first-quarter earnings and revenue handily topped Wall Street estimates on the back of higher egg prices. Revenue in the period jumped 71% to $785.9 million. The company also raised its quarterly dividend by 32% to $1.02 a share.

LPL Financial fired Chief Executive and President Dan Arnold for making statements to employees that violated the company’s code of conduct. The company said its board terminated Arnold for cause on the recommendation of a special committee of directors in the course of an investigation by an outside law firm. The board appointed Rich Steinmeier, chief growth officer, as interim CEO, effective immediately. The stock was falling 2.9%.