Biggest stock movers today: LI, MMM, and more (NASDAQ:LI)

Stock futures showed a slight uptick in premarket trading on Monday, marking a positive start to April’s first trading day and the second quarter.

Here are some of Monday’s biggest stock movers:

Biggest stock gainers:

Shares of Li Auto (NASDAQ:LI) advanced 4% after exceeding Q1 delivery expectations. They achieved a record 700,000th cumulative delivery in March, becoming the first Chinese emerging new energy automaker to reach this milestone. March itself saw strong performance with 28,984 deliveries, a 39.2% Y/Y increase. Q1 deliveries totaled 80,400 vehicles, reflecting robust 52.9% Y/Y growth vs. the company’s revised guidance of 76,000–78,000 units.

Shares of CANOO (NASDAQ:GOEV) rose 5% ahead of its Q4 earnings report, scheduled to be released after market close. The market’s optimism likely stems from the anticipation surrounding the earnings announcement, with investors hopeful for positive results. Over the last year, GOEV has beaten EPS estimates 50% of the time and revenue estimates 0% of the time. Additionally, in the last three months, EPS estimates have seen 1 upward revision.

Biggest stock losers:

Shares of 3M (NYSE:MMM) plunged 13% as its faster-growing healthcare business, Solventum (SOLV), begins trading as a separate entity today. This spin-off separates Solventum’s promising $8.2B annual revenue stream (FY 2023) and ~$93 billion market opportunity from 3M’s industrial and consumer product segments, which are experiencing slower growth.