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The Stock MarketPinterest, PayPal, Tesla and more

Pinterest, PayPal, Tesla and more

Take a have a look at among the greatest movers within the premarket:

Pinterest (PINS) – Pinterest shares tumbled 13.2% in premarket buying and selling after PayPal (PYPL) stated it was not pursuing an acquisition of the social media firm right now. Its assertion got here in response to stories that it was pursuing an acquisition of Pinterest for as a lot as $45 billion. PayPal shares jumped 6.1%.

Tesla (TSLA) – Tesla raised costs on sure variations of its Model X and Model S vehicles, in line with the corporate’s web site. Additionally, automobile rental large Hertz has reportedly ordered 100,000 Tesla autos for its fleet. Tesla shares rallied 4.3% within the premarket.

Kimberly-Clark (KMB) – The client merchandise firm’s inventory slid 3% in premarket buying and selling after quarterly earnings got here in 3 cents a share under estimates at $1.62 per share. Revenue was barely above forecasts, however Kimberly-Clark’s outcomes have been hit by increased inflation and provide chain points.

Restaurant Brands International (QSR) – The restaurant operator reported quarterly revenue of $1.52 per share, 2 cents a share above estimates. Revenue was barely under Wall Street forecasts, with Covid-19 contributing to provide chain and labor pressures for the mother or father of Tim Hortons, Burger King and Popeyes. The inventory added 1.2% within the premarket.

Otis Worldwide (OTIS) – Otis got here in 4 cents a share above estimates, with quarterly earnings of 77 cents per share. Revenue additionally topped analysts’ projections. The firm greatest identified for its flagship elevators additionally raised its full-year outlook.

Facebook (FB) – Facebook continues to be embroiled in controversy, with a Wall Street Journal story this morning detailing inside arguments over the dealing with of right-leaning content material. The inventory fell 5% Friday, breaking a four-session win streak. Its shares dropped one other 1.5% within the premarket.

Knight-Swift Transportation (KNX) – The trucking and logistics firm’s inventory rose 1.5% within the premarket after UBS upgraded the inventory to “buy” from “neutral.” The agency stated Knight-Swift’s non-trucking enterprise is increasing quicker than it had anticipated.

HSBC (HSBC) – HSBC reported better-than-expected quarterly revenue, with a 74% rise from a yr earlier, and the financial institution additionally introduced a $2 billion share buyback.

Southwest Gas (SWX) – Investor Carl Icahn is asking on Southwest Gas to first provide shares to present shareholders, amid the vitality producer’s plans to promote as much as $1 billion in fairness as a part of financing to purchase pipeline firm Questar. Icahn – who holds a big stake within the firm – is in opposition to the deal, and is shifting forward with a young provide to purchase the shares he would not already personal for $75 per share.

Whirlpool (WHR) – Whirlpool was downgraded to “underperform” from “sector perform” at RBC Capital, which cites numerous elements together with the equipment maker’s lack of market share in North America. The inventory slid 1.4% in premarket buying and selling.

Pfizer (PFE), BioNTech (BNTX) – The Covid-19 vaccine made by Pfizer and BioNTech confirmed 90.7% effectiveness in kids aged 5-11. Health officers say a rollout of the vaccine for teenagers might come as quickly as early November.

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