Take a look at some of the most important engines in the pre-market stage:
Palantir Technologies (PLTR): Shares of the data analytics software company plunged 15.1% in premarket trading after posting a mixed quarter. Palantir reported earnings of 2 cents per share, compared with a consensus estimate of 4 cents per share. However, revenue was higher than expected, despite slower growth in its government business. Palantir also issued a softer-than-expected current quarter revenue forecast.
Rivian (RIVN) – Ford Motor (F) is selling $8 million of its $102 million equity stake in the electric vehicle maker, according to sources who spoke with CNBC’s David Faber. The move comes as the blackout period for insiders to sell the shares expires. Rivian shares plunged 15.6% before trading.
Uber Technologies (UBER) – Uber plans to cut spending on marketing and incentives and be deliberate about onboarding workers, according to a staff email obtained by CNBC. Chief Executive Officer Dara Khosrowshahi said the food delivery and transportation company said Uber needs to become a more efficient business to address a “seismic shift” in investor sentiment. Uber fell 3% in the premarket.
Coty (COTY) – Coty reported quarterly earnings of 3 cents per share, beating the consensus consensus estimate. Revenue also beat forecasts and the cosmetics company raised its outlook for the full year due to strong demand for its products. The stock was up 1.7% before trading.
Energizer (ENR): The battery maker beat estimates by 9 cents a share, posting a quarterly profit of 47 cents a share. Revenue beat Street’s forecast as Energizer raised prices. Its shares gained 2.3% before trading.
Elanco Animal Health (ELAN): Elanco fell 4.3% in premarket action after the animal health products company lowered its outlook for the full year, reflecting the impact of a stronger US dollar . Elanco reported slightly better-than-expected earnings and revenue for its most recent quarter.
Tyson Foods (TSN) – Shares rose 1% premarket after the beef and poultry producer beat earnings and revenue estimates for its latest quarter. Tyson earned $2.29 per share, compared to a consensus estimate of $1.91 per share.
BioNTech (BNTX) – BioNTech beat Wall Street earnings and revenue estimates in its latest quarter, and also backed its previous outlook for 2022, including projections for Covid-19 vaccine sales.
Twitter (TWTR) – Elon Musk detailed his financial goals for Twitter in an investor presentation obtained by the New York Times. Among those goals: quintupling revenue by 2028, reducing Twitter’s reliance on advertising, and reaching 931 million users by 2028 compared with 217 million at the end of 2021. Twitter fell 1.3% in pre-trading operations. the marketing.
Shell (SHEL) – Third Point’s Daniel Loeb told investors he has increased his stake in energy giant Shell, according to a letter seen by Reuters. Loeb said in the letter that he had had “constructive” discussions with management, the board and shareholders about his request that the company be broken up. Shell shares fell 2.6% in premarket action.
Southwest Gas (SWX): Southwest Gas has reached an agreement with investor Carl Icahn that will see the utility replace its CEO and give Icahn up to four board seats. Southwest Gas rose 1% before trading.
Reference-www.cnbc.com