Business

Palantir, Rivian, Uber and others

Peter Thiel, co-founder and chairman of Palantir Technologies Inc., pauses during a press conference in Tokyo, Japan on Monday, November 18, 2019.

Kiyoshi Ota | Bloomberg | Getty Images

See which companies made the headlines on Monday afternoon.

Palantir – The software company’s shares fell more than 18% after Palantir’s first-quarter earnings fell short of expectations. The company reported 2 cents of adjusted earnings per share on revenue of $446 million. Analysts polled by Refinitiv had expected earnings per share of 4 cents on revenue of $443 million. According to StreetAccount, Palantir’s second-quarter revenue and adjusted operating margin guidance also came in below expectations.

Rivian – Shares in the electric car maker fell more than 17% after CNBC reported that Ford Motor will sell 8 million shares as an insider lock on shares expires. Ford currently owns 102 million shares of Rivian. Ford shares fell 4%.

Uber. The ride-sharing company’s shares fell 6.4% after CEO Dara Khosrowshahi revealed plans to cut marketing and incentive spending and treat hiring as a “perk”, according to an email to employees obtained by CNBC. “It is clear that the market is going through a seismic shift and we need to respond accordingly,” he said.

Coty – Shares fell 5.7% despite the cosmetics company’s higher earnings. Coty earned 3 cents per share on $1.19 billion in revenue in the most recent quarter. Analysts polled by Refinitiv had expected earnings of 1 cent per share on $1.15 billion in revenue. Coty also raised its full-year guidance based on strong consumer demand.

Tyson Foods – Shares of the beef and poultry maker rose 1.7% on better-than-expected quarterly results. Tyson reported earnings of $2.29 per share on revenue of $13.12 billion. Analysts were expecting earnings of $1.91 per share on revenue of $12.85 billion, according to Refinitiv.

BioNTech – Shares rose about 5.9% after BioNTech released a better-than-expected first-quarter report. BioNTech earned $14.24 per share on $6.37 billion in revenue. Analysts polled by Refinitiv had expected earnings of $9.16 per share on revenue of $4.34 billion.

Twitter – The social networking site’s shares fell 1.9% after It is reported by The New York Times. on Elon Musk’s financial goals for Twitter, with a link to an investor presentation. The billionaire, who is acquiring Twitter for $44 billion, aims to quintuple revenue by 2028, reduce Twitter’s reliance on ads and reach 931 million users by 2028, among other goals outlined in the presentation.

Dish Network – Shares fell 1.3% after JPMorgan downgraded Dish from overweight to neutral, citing “weaker-than-expected pay-TV and wireless results.” Meanwhile, Credit Suisse upgraded Dish’s rating from neutral, saying it sees “sufficient upside potential” for the company.

Coincidence – Shares of the online dating company fell 2.3% after Wells Fargo upgraded the stock to overweight from equal weight. Wells said the stock is “attractive” at current levels.

Virgin Galactic. Shares of Virgin Galactic fell 6.6% after Truist downgraded the space company to refrain from buying amid fears of additional flight delays.

– CNBC’s Jesse Pound, Tanaya Macheel, Samantha Subin, and Sarah Min provided reporting.


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