Peter Thiel, co-founder and president of Palantir Technologies Inc., pauses during a news conference in Tokyo, Japan, on Monday, November 18, 2019.
Kiyoshi Ota | Bloomberg | beautiful pictures
Check out the companies that make headlines in Monday midday trading.
Palantir The software company’s stock fell more than 18 percent after Palantir’s first-quarter earnings fell short of expectations. The company reported 2 cents of adjusted earnings per share on $446 million in revenue. Analysts surveyed by Refinitiv expect earnings per share of 4 cents on $443 million in revenue. According to StreetAccount, Palantir’s second-quarter guidance for revenue and adjusted operating margin was also below expectations.
Rivian – Electric vehicle maker shares fall more than 17% after CNBC report that Ford Motor will sell 8 million shares because the internal key for the stock is set to expire. Ford currently owns 102 million shares of Rivian stock. Ford shares fell 4%.
Uber – Shares of the car-sharing company fell 6.4% after CEO Dara Khosrowshahi revealed plans to cut marketing spending and incentivize and considers hiring a “privilege,” according to an email to employees obtained by CNBC. “Clearly the market is going through an earthquake and we need to react,” he said.
Coty – Shares fell 5.7% despite profits from the cosmetics company. Coty earned 3 cents per share on revenue of $1.19 billion in its most recent quarter. Analysts polled by Refinitiv were expecting 1% earnings per share on revenue of $1.15 billion. Coty also raised its full-year outlook on strong consumer demand.
Tyson Foods – Shares of the beef and poultry producer rose 1.7% on better-than-expected quarterly results. Tyson reported earnings of $2.29 per share on revenue of $13.12 billion. According to Refinitiv, analysts had expected a profit of $1.91 per share on revenue of $12.85 billion.
BioNTech – Shares rallied around 5.9% after BioNTech released a better-than-expected first-quarter report. BioNTech earned $14.24 per share on revenue of $6.37 billion. Analysts polled by Refinitiv expect a profit of $9.16 per share on revenue of $4.34 billion.
Twitter – Shares of the social media company fell 1.9% after The New York Times reported about Elon Musk’s financial goals for Twitter, citing an investor presentation. The billionaire — who is acquiring Twitter for $44 billion — aims to reach five times revenue by 2028, cut Twitter’s reliance on ads, and reach 931 million users by 2028, out of a total of 931 million users by 2028. Other goals set forth in the presentation.
Food network – Shares fell 1.3% after JPMorgan downgraded Dish to neutral due to overweight, citing “weaker wireless and PayTV results than expected.” Meanwhile, Credit Suisse has upgraded Dish to above neutral, saying it sees “enough upside” for the company.
Match – Shares of the online dating company fell 2.3% after Wells Fargo upgraded the stock to overweight from the equivalent. Wells said the stock is “attractive” at current levels.
Virgin galaxy – Shares of Virgin Galactic fell 6.6% when Truist was downgraded space travel companies do not buy amid concerns about further flight delays.
– CNBC’s Jesse Pound, Tanaya Macheel, Samantha Subin and Sarah Min contributed reporting
