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Today at a glance:
📦 PDD Holdings: Temu Expansion Slows
⚙️ Micron: AI Fuels Growth
🚚 FedEx: Third Guidance Cut
🍪 General Mills: Snacking Slowdown
🛳️ Carnival: Full Steam Ahead
🧑🍳 Darden: Expansion Ahead
⚡️ NIO: Growing Pains
🏥 HealthEquity: Fraud Costs Weigh
📝 Asana: Moskovitz Steps Down
💳 StoneCo: Banking Scale Up
1. 📦 PDD Holdings: Temu Expansion Slows
Pinduoduo’s parent PDD Holdings reported Q4 revenue growth of 24% year-over-year to $15.2 billion ($0.9 billion miss), marking its second consecutive top-line miss as domestic competition and global challenges intensified. Net income rose 18% to $3.8 billion, with EPS of $2.76 ($0.04 beat). Online marketing services grew 17%, while Transaction services revenue increased 33%, but both came in below expectations. Management has implemented a fee reduction program, waiving $1.4 billion in transaction fees to attract high-quality merchants, expanding logistics support in rural areas, and adding merchant protection initiatives to drive long-term platform sustainability.
Despite strong profitability, growth is moderating, and the e-commerce giant faces rising competitive pressure from Alibaba and JD.com, as well as US trade policy risks affecting Temu. PDD acknowledged slowing expansion in its global business, emphasizing supply chain investments and compliance efforts as it navigates regulatory scrutiny. While margins remain solid, the stock remains under pressure after the revenue miss and recent concerns over intensifying competition and geopolitical headwinds.