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The Stock MarketPalantir, Rivian, Uber and more

Palantir, Rivian, Uber and more

Peter Thiel, co-founder and chairman of Palantir Technologies Inc., pauses throughout a information convention in Tokyo, Japan, on Monday, Nov. 18, 2019.

Kiyoshi Ota | Bloomberg | Getty Images

Check out the businesses making headlines in noon buying and selling Monday.

Palantir – Shares of the software program firm dropped more than 18% after Palantir’s first-quarter earnings got here in beneath expectations. The firm reported 2 cents of adjusted earnings per share on $446 million of income. Analysts surveyed by Refinitiv anticipated 4 cents of earnings per share on $443 million of income. Palantir’s second-quarter steerage for income and adjusted working margin was additionally beneath expectations, in keeping with StreetAccount.

Rivian – Shares of the electrical car maker fell more than 17% following a CNBC report that Ford Motor will promote 8 million shares because the insider lockup for the inventory is about to run out. Ford presently owns 102 million shares of Rivian. Ford shares fell 4%.

Uber – The ride-sharing firm’s inventory dropped 6.4% after CEO Dara Khosrowshahi revealed plans to slash advertising and incentives spending and deal with hiring as a “privilege,” in keeping with an electronic mail to staff obtained by CNBC. “It’s clear that the market is experiencing a seismic shift and we need to react accordingly,” he stated.

Coty — Shares tumbled 5.7% regardless of an earnings beat from the cosmetics firm. Coty earned 3 cents per share on revenues of $1.19 billion in its most up-to-date quarter. Analysts polled by Refinitiv had been anticipating earnings of 1 cent per share on revenues of $1.15 billion. Coty additionally raised its full-year outlook primarily based on robust client demand.

Tyson Foods – Shares of the meat and poultry producer gained 1.7% on the again of better-than-expected quarterly outcomes. Tyson reported earnings of $2.29 per share on income of $13.12 billion. Analysts had anticipated a revenue of $1.91 per share on income of $12.85 billion, in keeping with Refinitiv.

BioNTech – The inventory rose about 5.9% after BioNTech posted a better-than-expected first-quarter report. BioNTech earned $14.24 per share on income of $6.37 billion. Analysts polled by Refinitiv anticipated a revenue of $9.16 per share on income of $4.34 billion.

Twitter – Shares of the social media firm fell 1.9% after The New York Times reported on Elon Musk’s monetary objectives for Twitter, citing an investor presentation. The billionaire — who’s buying Twitter for $44 billion — goals to quintuple income by 2028, minimize Twitter’s reliance on promoting and attain 931 million customers by 2028, amongst different aims set out within the presentation.

Dish Network – Shares dipped 1.3% after JPMorgan downgraded Dish to impartial from chubby, citing “weaker than expected PayTV and wireless results.” Meanwhile, Credit Suisse upgraded Dish to outperform from impartial, saying it sees “sufficient upside” for the corporate.

Match – Shares of the net courting firm slid 2.3% after Wells Fargo upgraded the inventory to chubby from equal weight. Wells stated shares are “compelling” at present ranges.

Virgin Galactic – Shares of Virgin Galactic pulled again by 6.6% as Truist downgraded the area journey firm to carry from purchase amid considerations over further flight delays.

— CNBC’s Jesse Pound, Tanaya Macheel, Samantha Subin and Sarah Min contributed reporting

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