Check out some of the biggest manufacturers in the pre-market:
Palantir Technologies (PLTR) – Shares of the data analysis software company fell 15.1% in pre-market trading after a mixed quarter. Palantir reported earnings of 2 cents per share, compared to the consensus estimate of 4 cents per share. However, revenues were higher than expected, despite the slowdown in government business growth. Palantir also issued a softer-than-expected revenue forecast for the current quarter.
Rivian (RIVN) – Ford Motor (F) is selling 8 million of its 102 million stake in the electric vehicle maker, according to sources interviewed by David Faber of CNBC. This move comes with the expiration of the period of internal blocking for the sale of shares. Rivian shares fell 15.6% on the preliminary market.
Uber Technologies (UBER) – Uber plans to reduce marketing and incentive costs and be aware of the addition of workers, according to an email from CNBC staff. CEO Dara Khosrovshahi said the food transport and delivery company said Uber needed to become a more cost-effective business to deal with the “seismic change” in investor sentiment. Uber fell 3% in overmarkets.
Coty (COTY) – Coty reported quarterly earnings of 3 cents per share, exceeding the consensus estimate of pennies per share. Revenues also exceeded forecasts and the cosmetics company raised its full-year forecast for strong demand for its products. Shares rose 1.7% in premarkets.
Energizer (ENR) – The battery maker surpassed estimates by 9 cents a share, with a quarterly profit of 47 cents a share. Revenues exceeded Street forecasts as Energizer raised prices. Its shares rose 2.3% in the pre-market.
Elanco Animal Health (ELAN) – Elanco fell 4.3% before market action after the veterinary company lowered its forecasts for the whole year, reflecting the impact of the stronger US dollar. Elanco reported slightly better-than-expected earnings and revenue for the last quarter.
Tyson Foods (TSN) – Shares rose 1% on the pre-market after the beef and poultry producer surpassed earnings and revenue forecasts for its most recent quarter. Tyson earned $ 2.29 per share, compared to the consensus estimate of $ 1.91 per share.
BioNTech (BNTX) – BioNTech surpassed Wall Street’s profit and revenue forecasts for the last quarter, and also supported its previous outlook for 2022, including forecasts for Covid-19 vaccine sales.
Twitter (TWTR) – Elon Musk described in detail his financial goals for Twitter in a presentation to investors received from the New York Times. Among those goals: five-fold revenue by 2028, reducing Twitter’s dependence on advertising and reaching 931 million users by 2028, compared to 217 million at the end of 2021. Twitter fell 1.3% in pre-market trade .
Shell (SHEL) – Daniel Loeb of Third Point told investors he had added to his stake in energy giant Shell, according to a letter seen by Reuters. Loeb said in the letter that he had held “constructive” talks with management, the board and shareholders about his call for the company to split. Shares of Shall fell 2.6% in pre-market action.
Southwest Gas (SWX) – Southwest Gas has reached an agreement with investor Carl Icahn, in which the utility will replace its CEO and give Icahn up to four seats on the board. Southwest Gas rose 1% in the premarket.
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