Check out some of the biggest pre-sales drivers:
Palantir Technologies (PLTR) – Shares of software analytics firm fell 15.1% in pre-market trading after the mixed quarter. Palantir reported earnings of 2 cents per share, compared to a consensus estimate of 4 cents per share. However, revenues were higher than expected, despite the slowdown in government growth. Palantir also released a softer revenue forecast for the current quarter than expected.
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. The move comes after the internal lockout period for the sale of shares expires. Riviana shares fell 15.6% in pre-sale.
Uber Technologies (UBER) – Uber plans to reduce spending on marketing and incentives and be intent on adding workers, according to a staff email received by CNBC. CEO Dara Khosrowshahi said the food transport and delivery company said Uber needed to become a leaner business to address the “seismic change” in investor sentiment. Uber fell 3% in presale.
Coty (COTY) – Coty reported quarterly earnings of 3 cents per share, beating the consensus estimate of a penny per share. Revenues also exceeded forecasts, and the cosmetics company boosted its year-round forecasts of high demand for its products. Shares rose 1.7% in presale.
Energizer (ENR) – Battery maker exceeded estimates by 9 cents per share, with quarterly earnings of 47 cents per share. Revenue exceeded Street’s forecasts as Energizer raised prices. Its shares rose 2.3% in presale.
Elanco Animal Health (ELAN) – Elanco fell 4.3% in pre-sales action after the veterinary company lowered its year-round outlook, reflecting the impact of a stronger US dollar. Elanco reported slightly better-than-expected profit and revenue for the last quarter.
Tyson Foods (TSN) – Shares rose 1% in pre-sales after the beef and poultry producer surpassed earnings and revenue estimates for the last quarter. Tyson earned $ 2.29 per share, compared to a consensus estimate of $ 1.91 per share.
BioNTech (BNTX) – BioNTech surpassed Wall Street estimates of profit and revenue in the last quarter, and also supported its previous outlook for 2022 including projections of Covid-19 vaccine sales.
Twitter (TWTR) – Elon Musk described in detail his financial goals for Twitter in a presentation to investors given to the New York Times. Among those targets: fivefold revenue by 2028, reduce Twitter’s reliance on advertising and reach 931 million users by 2028, compared to 217 million at the end of 2021. Twitter fell 1.3% in pre-market trading.
Shell (SHEL) – Daniel Loeb of Third Point told investors he had added his stake in energy giant Shell, according to a letter seen by Reuters. Loeb said in the letter that he had “constructive” talks with management, board and shareholders about his call for the company to split. Shell shares fell 2.6% in pre-sale.
Southwest Gas (SWX) – Southwest Gas has reached an agreement with investor Carl Icahn, according to which the utility company will replace its CEO and give Icahn as many as four seats on the board. Southwest Gas rose 1% in presale.