Peter Thiel, co-founder and chairman of Palantir Technologies Inc., pauses during a news conference in Tokyo, Japan, on Monday, November 18, 2019.
Kiyoshi Ota | Mayor Bloomberg | fake images
Take a look at the companies that make the headlines in midday trading on Monday.
Palantir – Shares of the software company fell more than 18% after Palantir’s first-quarter earnings came in below expectations. The company reported 2 cents of adjusted earnings per share on $446 million of revenue. Analysts polled by Refinitiv had expected 4 cents of earnings per share on $443 million of revenue. Palantir’s second-quarter guidance for revenue and adjusted operating margin also came in below expectations, according to StreetAccount.
Rivian – Shares of the electric vehicle manufacturer fell more than 17% after a CNBC report that Ford Motor will sell 8 million shares as the insider lockout for the stock is about to expire. Ford currently owns 102 million shares of Rivian. Ford shares fell 4%.
Uber – Shares of the ride-sharing company fell 6.4% after CEO Dara Khosrowshahi revealed plans to cut marketing spending and incentives and treat the hiring as a “privilege,” according to an email to employees obtained by CNBC. “It is clear that the market is undergoing a seismic shift and we must react accordingly,” he said.
Coti — Shares fell 5.7% despite rising profits at the cosmetics company. Coty earned 3 cents a share on revenue of $1.19 billion in its most recent quarter. Analysts polled by Refinitiv had expected earnings of 1 cent a share on revenue of $1.15 billion. Coty also raised its full-year outlook based 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. Analysts had expected a profit of $1.91 per share on revenue of $12.85 billion, according to Refinitiv.
BioNTech – Shares rose 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 had expected 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 on Elon Musk’s financial goals for Twitter, citing an investor presentation. The billionaire, who will acquire Twitter for $44 billion, aims to quintuple revenue by 2028, reduce Twitter’s reliance on advertising and reach 931 million users by 2028, among other goals set out in the filing.
dish net – Shares fell 1.3% after JPMorgan downgraded Dish to neutral from overweight, citing “weaker-than-expected wireless and pay-TV results.” Credit Suisse, meanwhile, raised Dish’s rating to outperformance from neutral, saying it sees “enough upside” for the company.
Game – Shares of the online dating company fell 2.3% after Wells Fargo upgraded the stock to overweight from the same weight. Wells said equities are “convincing” at current levels.
— CNBC’s Jesse Pound, Tanaya Macheel, Samantha Subin and Sarah Min contributed reporting