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Palantir, Rivian, Uber and extra

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

Kiyoshi Ota | Bloomberg | Getty Photographs

Take a look at the businesses making headlines in noon buying and selling Monday.

Palantir – Shares of the software program firm dropped greater than 18% after Palantir’s first-quarter earnings got here in beneath expectations. The corporate 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 steering for income and adjusted working margin was additionally beneath expectations, in keeping with StreetAccount.

Rivian – Shares of the electrical car maker fell greater than 17% following a CNBC report that Ford Motor will sell 8 million shares because the insider lockup for the inventory is ready to run out. Ford at the moment 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 marketing and incentives spending and deal with hiring as a “privilege,” in keeping with an electronic mail to staff obtained by CNBC. “It is clear that the market is experiencing a seismic shift and we have 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 shopper 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, lower Twitter’s reliance on promoting and attain 931 million customers by 2028, amongst different targets set out within the presentation.

Dish Network – Shares dipped 1.3% after JPMorgan downgraded Dish to impartial from chubby, citing “weaker than anticipated PayTV and wi-fi outcomes.” In the meantime, Credit score Suisse upgraded Dish to outperform from impartial, saying it sees “ample upside” for the corporate.

Match – Shares of the web 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 house journey firm to carry from purchase amid issues over further flight delays.

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

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