Stock futures inched upward early Friday, marking a positive start to 2026 trading after the holiday break.
Here are some of Friday’s biggest stock movers:
Biggest stock gainers
- Baidu (BIDU) +12% – Shares jumped after the company said it plans to spin off its AI chip unit Kunlunxin and pursue a Hong Kong listing, a move seen as unlocking value amid Beijing’s push for semiconductor self-sufficiency. Baidu has confidentially filed an application with the Hong Kong Exchange, though deal size and structure are yet to be finalized and regulatory approvals are still required; Kunlunxin, of which Baidu owns about 59%, is expected to remain a subsidiary post-listing. Analysts said the move highlights Kunlunxin’s standalone value and broadens funding options, with Jefferies raising its price target on Baidu to $181 from $159 while maintaining a Buy rating, citing upside from the proposed global offering despite recent revenue headwinds.
- NIO (NIO) +5% – Shares jumped after the EV maker reported record December deliveries of 48,135 vehicles, up 54.6% Y/Y, driven by strength across its brands with 31,897 NIO vehicles, 9,154 ONVO units, and 7,084 FIREFLY cars delivered. Q4 deliveries hit a new high of 124,807 vehicles, up 71.7% Y/Y, while FY2025 deliveries climbed 46.9% to 326,028 units, bringing cumulative deliveries to 997,592 as of December 31, 2025.
- Li Auto (LI) +3% – Shares soared after the company reported December 2025 deliveries of 44,246 vehicles, lifting Q4 deliveries to 109,194 and pushing cumulative deliveries past the 1.5M milestone to 1,540,215 units. While December deliveries rebounded 33.4% sequentially, they were down 24.4% Y/Y, marking the seventh straight month of annual decline, and FY2025 deliveries fell 18.8% Y/Y to 406,343 vehicles amid weaker demand and intensifying competition in China’s EV market. Still, Q4 deliveries improved 17.2% from Q3, signaling some stabilization, while the company expanded internationally into Central Asia, the Caucasus, and Africa, launching its Li AI glasses. The automaker is now preparing a product realignment to sharpen competitiveness and reduce internal cannibalization, as it looks to regain growth momentum in a tougher EV landscape.
- XPENG (XPEV) +2% – Shares rose after the EV maker reported December 2025 deliveries of 37,508 vehicles, up 2% Y/Y, while FY2025 deliveries surged 126% to 429,445 units. Overseas momentum remained strong, with 45,008 vehicles delivered internationally during the year, a 96% Y/Y increase, as XPENG expanded its global presence to 60 countries and regions by year-end, underscoring accelerating scale and international traction.