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The lights are flashing green for long-term growth opportunities for these two tech stocks.
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 The U.S. listed shares of Pinduoduo Inc. charged 9.5% higher in premarket trading Friday, after the China-based mobile marketplace reported first-quarter profit and revenue that rose well above expectations, as gross margin improved sharply with costs falling. The company swung to net income of RMB2.60 billion ($410.1 million), or RMB1.84 a share, from a net loss of RMB2.91 billion, or RMB2.33 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per American depositary share of RMB2.95 beat the FactSet consensus of RMB1.83. Revenue grew 7.3% to RMB23.79 billion ($3.75 billion), above the FactSet consensus of RMB20.45 billion, while costs of revenue fell 33.4% improved to 69.9% from 51.5%. Average monthly active users rose 4% to 751.3 million and active buyers in the 12 months to March 31 increased 7% to 881.9 million. The stock has tumbled 28.1% year to date through Thursday, while the iShares MSCI China ETF has dropped 20.4% and the S&P 500 has shed 14.9%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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This company has made some great investments but is not getting rewarded by the market at the moment.
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The industry stalwarts can combat inflation and reward investors over time.
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Americans will commemorate its fallen military personnel, and mark the unofficial start of summer, this Memorial Day, Monday, May 30. And the stock market will indeed be closed for Memorial Day, ensuring that investors can focus on the events of the day rather than watching the stock market continue its roller-coaster ways.
In many ways, 2022's day of commemoration is sure to feel more normal than the past two years. The COVID-19 pandemic largely clamped down on celebrations in 2020 and still cast a pall over 2021. And while the disease is far from contained, Americans clearly plan to travel.
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AAA estimates that 39.2 million travelers will fly or drive this Memorial Day weekend ... still down from 2019's 42.8 million people who either booked flights or drove at least 50 miles to a destination, but up from last year's 36.2 million. That's naturally expected to keep upward pressure on gas prices, which have shot 40% higher from the start of 2022 alone.
But one thing that stays the same, year after year? Investors are getting a long weekend. Both the stock market and the bond market will be closed on May 30 in observation of Memorial Day. Also, the bond market will close early May 27, the Friday before Memorial Day.
Regular trading in stocks and bonds resumes on Tuesday, May 31.
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Here, we provide a schedule of stock market holidays and bond market holidays for 2022. Please note tha
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