U.S. stock market opening: Micron Technology rises about 5%, Pinduoduo falls about 9%, Tesla rises about 2%
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The semiconductor stocks rose broadly, with TSMC up about 3% and Super Micro Computer up about 3%. Oil stocks mostly declined, with Occidental Petroleum, BP, and Total all down about 3%. Pinduoduo fell by about 9% as its first-quarter revenue and adjusted earnings per ADS were both below expectations. Tesla rose about 2%, with reports stating that Musk had discussed a merger between SpaceX and Tesla with colleagues.
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