Why These 5 Stocks Are Moving on Friday

In this article we take a look at five stocks that are moving on Friday. If you want to read our detailed analysis of these stocks, go to read Why These 10 Stocks Are Moving on Friday.

5. Pinduoduo Inc. (NASDAQ:PDD) is off 3.7% due to continued caution around the Chinese tech sector and the weakness in Alibaba. Given Alibaba and Pinduoduo Inc. (NASDAQ:PDD) are in the same sector, Pinduoduo Inc. (NASDAQ:PDD) is affected by many of the same factors as Alibaba with government regulation remaining a headwind.
Of the around 873 elite funds in our database, 49 were long Pinduoduo Inc. (NASDAQ:PDD) at the end of Q2.


4. Baidu, Inc. (NASDAQ:BIDU) is down around 2.4% due to the weakness in Chinese tech stocks on Friday. Also in the news is a Reuters report indicating that China’s antitrust regulator is unlikely to approve Baidu, Inc. (NASDAQ:BIDU)’s acquisition of Joyy’s YY Live. Baidu, Inc. (NASDAQ:BIDU) shares are down around 27.7% year to date. D E Shaw was long 2.26 million shares of Baidu, Inc. (NASDAQ:BIDU) at the end of June.


3. Roku, Inc. (NASDAQ:ROKU) shares have fallen 3.78% after Steven Cahall of Wells Fargo downgraded Roku, Inc. (NASDAQ:ROKU) to ‘Equal Weight’ from ‘Overweight’. Cahall downgraded the stock due to valuation. The number of elite funds in our database that were long Roku, Inc. (NASDAQ:ROKU) fell to 61 in the second quarter from 63 in the first quarter.


2. Aehr Test Systems (NASDAQ:AEHR) has surged 34% after Aehr Test Systems (NASDAQ:AEHR) reported net revenue of $5.6 million and an adjusted loss per share of $0.02 for Q1. The company previously lost $0.09 per share on sales of $2 million in the same quarter of last year. Of the around 873 elite funds in our database, 2 were long Aehr Test Systems (NASDAQ:AEHR) at the end of Q2.


1. Progress Software Corporation (NASDAQ:PRGS) shares have risen 14.9% after the company reported adjusted revenue of $152.6 million and adjusted earnings per share of $1.18 for Q3. Both the top and bottom line were better than market estimates. Renaissance Technologies was long 1.72 million shares in Progress Software Corporation (NASDAQ:PRGS) at the end of June.

Disclosure: None.