Peter Thiel, co-founder and chairman of Palantir Applied sciences Inc., pauses right through a information convention in Tokyo, Japan, on Monday, Nov. 18, 2019.
Kiyoshi Ota | Bloomberg | Getty Pictures
Take a look at the firms making headlines in noon buying and selling Monday.
Palantir – Stocks of the device corporate dropped greater than 18% after Palantir’s first-quarter profits got here in beneath expectancies. The corporate reported 2 cents of adjusted profits in keeping with percentage on $446 million of earnings. Analysts surveyed by means of Refinitiv anticipated 4 cents of profits in keeping with percentage on $443 million of earnings. Palantir’s second-quarter steering for earnings and changed running margin used to be additionally beneath expectancies, in step with StreetAccount.
Rivian – Stocks of the electrical automobile maker fell greater than 17% following a CNBC file that Ford Motor will promote 8 million stocks because the insider lockup for the inventory is ready to run out. Ford these days owns 102 million stocks of Rivian. Ford stocks fell 4%.
Uber – The ride-sharing corporate’s inventory dropped 6.4% after CEO Dara Khosrowshahi published plans to slash advertising and marketing and incentives spending and deal with hiring as a “privilege,” in step with an e-mail to workers acquired by means of CNBC. “It is transparent that the marketplace is experiencing a seismic shift and we want to react accordingly,” he stated.
Coty — Stocks tumbled 5.7% in spite of an profits beat from the cosmetics corporate. Coty earned 3 cents in keeping with percentage on revenues of $1.19 billion in its most up-to-date quarter. Analysts polled by means of Refinitiv have been anticipating profits of one cent in keeping with percentage on revenues of $1.15 billion. Coty additionally raised its full-year outlook according to robust shopper call for.
Tyson Meals – Stocks of the meat and poultry manufacturer received 1.7% at the again of better-than-expected quarterly effects. Tyson reported profits of $2.29 in keeping with percentage on earnings of $13.12 billion. Analysts had anticipated a benefit of $1.91 in keeping with percentage on earnings of $12.85 billion, in step with Refinitiv.
BioNTech – The inventory rose about 5.9% after BioNTech posted a better-than-expected first-quarter file. BioNTech earned $14.24 in keeping with percentage on earnings of $6.37 billion. Analysts polled by means of Refinitiv anticipated a benefit of $9.16 in keeping with percentage on earnings of $4.34 billion.
Twitter – Stocks of the social media corporate fell 1.9% after The New York Instances reported on Elon Musk’s monetary targets for Twitter, bringing up an investor presentation. The billionaire — who’s obtaining Twitter for $44 billion — targets to quintuple earnings by means of 2028, reduce Twitter’s reliance on promoting and succeed in 931 million customers by means of 2028, amongst different goals set out within the presentation.
Dish Community – Stocks dipped 1.3% after JPMorgan downgraded Dish to impartial from obese, bringing up “weaker than anticipated PayTV and wi-fi effects.” In the meantime, Credit score Suisse upgraded Dish to outperform from impartial, announcing it sees “enough upside” for the corporate.
Fit – Stocks of the net courting corporate slid 2.3% after Wells Fargo upgraded the inventory to obese from equivalent weight. Wells stated stocks are “compelling” at present ranges.
Virgin Galactic – Stocks of Virgin Galactic pulled again by means of 6.6% as Truist downgraded the distance shuttle corporate to carry from purchase amid issues over further flight delays.
— CNBC’s Jesse Pound, Tanaya Macheel, Samantha Subin and Sarah Min contributed reporting
