Peter Thiel, co-founder and chairman of Palantir Applied sciences Inc., pauses all over 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 21.3% after Palantir’s first-quarter income got here in under expectancies. The corporate reported 2 cents of adjusted income in line with percentage on $446 million of income. Analysts surveyed by way of Refinitiv anticipated 4 cents of income in line with percentage on $443 million of income. Palantir’s second-quarter steerage for income and altered working margin used to be additionally under expectancies, in keeping with StreetAccount.
Rivian – Stocks of the electrical automobile maker fell 20.9% following a CNBC file that Ford Motor will promote 8 million stocks because the insider lockup for the inventory is about to run out. Ford lately owns 102 million stocks of Rivian. Ford stocks fell 4%.
Uber – The ride-sharing corporate’s inventory dropped 11.6% after CEO Dara Khosrowshahi printed plans to slash advertising and marketing and incentives spending and deal with hiring as a “privilege,” in keeping with an electronic mail to workers bought by way of CNBC. “It is transparent that the marketplace is experiencing a seismic shift and we want to react accordingly,” he stated.
Coty — Stocks tumbled 7.4% in spite of an income beat from the cosmetics corporate. Coty earned 3 cents in line with percentage on revenues of $1.19 billion in its most up-to-date quarter. Analysts polled by way of Refinitiv had been anticipating income of one cent in line with percentage on revenues of $1.15 billion. Coty additionally raised its full-year outlook in line with sturdy client call for.
Tyson Meals – Stocks of the meat and poultry manufacturer received 2.2% at the again of better-than-expected quarterly effects. Tyson reported income of $2.29 in line with percentage on income of $13.12 billion. Analysts had anticipated a benefit of $1.91 in line with percentage on income of $12.85 billion, in keeping with Refinitiv.
BioNTech – The inventory rose 3.1% after BioNTech posted a better-than-expected first-quarter file. BioNTech earned $14.24 in line with percentage on income of $6.37 billion. Analysts polled by way of Refinitiv anticipated a benefit of $9.16 in line with percentage on income of $4.34 billion.
Twitter – Stocks of the social media corporate fell 3.7% 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 — goals to quintuple income by way of 2028, reduce Twitter’s reliance on promoting and achieve 931 million customers by way of 2028, amongst different targets set out within the presentation.
Dish Community – Stocks dipped 4.5% 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, pronouncing it sees “enough upside” for the corporate.
Fit – Stocks of the net relationship corporate slid 4.5% 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 way of 10.7% 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.