An Uber banner on the New York Stock Exchange on the day of Uber’s IPO, May 10, 2019.
Check out the businesses making headlines in noon buying and selling Tuesday.
Uber Technologies — Uber shares popped 17.6% after the ride-hailing large reported a quarterly income that beat analyst expectations. The firm’s income got here in at $8.07 billion, topping a Refinitiv consensus forecast of $7.39 billion. Still, Uber additionally reported an enormous loss per share.
Pinterest — Shares of the image-sharing firm surged 12% on the again of better-than-expected person numbers. Activist investor Elliott Management additionally confirmed individually that it is Pinterest’s high investor and stated it has “conviction in the value-creation opportunity” on the firm. All that stated, Pinterest’s earnings and income missed estimates for the second quarter, and the corporate gave weak steering for the third quarter.
Marathon Petroleum — Shares superior 4% after the refining firm reported second-quarter earnings that exceeded revenue and income estimates, boosted by the surge in oil costs.
Gartner — Shares of the analysis and consulting firm gained 6.9% after Gartner topped earnings and income estimates for the earlier quarter. Wells Fargo additionally initiated protection of Gartner with an obese score.
Caterpillar — Caterpillar shares slipped 3.5% after the corporate missed income expectations within the second quarter. The industrial large stated its high line was damage by its exit from Russia and provide chain points.
Cowen – The brokerage’s inventory jumped 8% after TD Bank introduced a deal to purchase Cowen for $39 per share, or roughly $1.3 billion. TD stated the all-cash deal ought to shut within the first quarter of 2023. The U.S.-traded shares of TD dipped by lower than 1%.
Molson Coors — Shares of the beverage firm slid almost 10% after Molson Coors launched its newest quarterly outcomes. The firm’s earnings have been according to analyst expectations, based on Refinitiv, whereas earnings have been roughly according to estimates. Molson Coors stated that many beer-drinking prospects are buying and selling all the way down to cheaper choices.
Avis Budget — The car rental firm’s inventory slipped 6.1% regardless of a better-than-anticipated quarter. Avis Budget reported earnings of $15.94 per share excluding gadgets on revenues of $3.24 billion. Analysts polled by Refinitiv anticipated a revenue of $3.17 billion.
ZoomInfo Technologies — ZoomInfo jumped 10.8% after reporting better-than-expected quarterly outcomes. The firm additionally raised its steering for the complete yr.
— CNBC’s Jesse Pound, Sarah Min and Yun Li contributed reporting