An Uber banner on the New York Stock Exchange on the day of Uber’s IPO, May 10, 2019.
Check out the companies making headlines during Tuesday afternoon trading.
Uber Technologies – Shares of Uber rose 17.6% after the ride-hailing giant reported quarterly revenue that exceeded analyst expectations. The company’s revenue was $8.07 billion, ahead of a Refinitiv consensus forecast of $7.39 billion. Yet Uber also reported a large loss per share.
Pinterest – Shares of the image-sharing company rose 12% thanks to better-than-expected user numbers. Activist investor Elliott Management also separately confirmed that it is Pinterest’s largest investor, saying it is “confident in the ability to create value” at the company. That said, Pinterest’s revenue and earnings missed its second-quarter estimates, and the company provided weak third-quarter forecasts.
Marathon Petroleum – Shares rose 4% after the refinery company reported second-quarter earnings that beat earnings and sales estimates, boosted by the surge in oil prices.
Gartner — Shares of the research and consulting firm rose 6.9% after Gartner beat earnings and revenue estimates for the previous quarter. Wells Fargo also started covering Gartner with an overweight rating.
Caterpillar — Shares of Caterpillar fell 3.5% after the company missed second-quarter revenue expectations. The industrial giant said its sales were hurt by its departure from Russia and supply chain problems.
Cowen – The brokerage’s shares are up 8% after TD Bank announced a deal to buy Cowen for $39 a share, or about $1.3 billion. TD said the cash deal should close in the first quarter of 2023. TD’s US-traded shares fell less than 1%.
Molson Coors — Shares of the beverage company fell nearly 10% after Molson Coors released its latest quarterly results. The company’s earnings were in line with analyst expectations, Refinitiv said, while earnings were roughly in line with estimates. Molson Coors said many beer-drinking customers are trading cheaper options.
Avis Budget — The car rental company’s inventory fell 6.1% despite a better-than-expected quarter. Avis Budget reported earnings of $15.94 per share excluding items on revenue of $3.24 billion. Analysts polled by Refinitiv expected a profit of $3.17 billion.
ZoomInfo Technologies — ZoomInfo rose 10.8% after reporting better-than-expected quarterly results. The company also raised its full-year guidance.
— CNBC’s Jesse Pound, Sarah Min and Yun Li contributed to the report