Nuclear stocks rose in overnight trading. Uranium, NANO Nuclear Energy up 3%; NuScale Power up 1%.

Chinese ETFs and ADRs jumped in overnight trading. NIO rose 3%; Bilibili, CWEB, Li Auto rose 2%; Alibaba, XPeng, Baidu rose 1%; PDD rose 0.4%.

NIO Inc. announced a per-share loss of 45 cents from sales of $1.7 billion. Wall Street was looking for a loss of 35 cents from sales of $1.7 billion.

A year ago, NIO reported a per-share loss of 33 cents from sales of $1.3 billion. Earnings were lower as sales rose, due in part to greater competition, which has been pressuring prices for new EVs and profit margins for EV makers.

NIO delivered 42,094 vehicles in the quarter, up from 30,053 delivered a year earlier. Deliveries grew by about 40%, while sales increased by about 22%.

CFRA analyst Aaron Ho wrote that the company navigated a “challenging quarter with [the] focus on recovery and new [product] launches,” adding the quarter’s “mixed” performance reflects “competitive pressures in the premium EV segment.”

Looking ahead, NIO expects to deliver 72,000 to 75,000 cars in the second quarter. It delivered 47,131 vehicles in April and May, implying June deliveries of about 26,000 cars. NIO delivered 21,209 vehicles in June 2024 and 57,373 in the second quarter of 2024.

Second-quarter revenue is expected to be about $2.7 billion. Wall Street projects closer to $2.8 billion.