Pinterest, PayPal, Tesla, etc.

Texas News Today

Let’s take a look at some of the biggest premarket movers:

Pinterest (PINS) – After PayPal (PYPL) said it was not pursuing an acquisition of a social media company at this time, Pinterest’s share price fell 13.2% in a pre-market transaction. The statement came in response to reports that it was acquiring Pinterest for $45 billion. PayPal’s share price rose 6.1%.

Tesla (TSLA) – According to the company’s website, Tesla has increased the price of some versions of Model X and Model S cars. In addition, car rental company Hertz reportedly ordered 100,000 Tesla cars for its fleet. Tesla shares rose 4.3% in front of the market.

Kimberly-Clark (KMB) — Shares of the consumer commodity company fell 3% in premarket trading after quarterly earnings fell 3 cents below estimates of $1.62 per share. Revenue was slightly higher than expected, but Kimberly-Clark’s performance was dented by rising inflation and supply chain problems.

Restaurant Brands International (QSR) — Restaurant operators reported quarterly profit of $1.52 per share. This is two cents more than expected. Revenue fell slightly below Wall Street’s expectations, and Covid-19 contributed to the core supply chain and labor pressures of Tim Hortons, Burger King and Popeyes. Inventory was added 1.2% before marketing.

Otis Worldwide (OTIS) — Otis was 4 cents per share and quarterly earnings were 77 cents per share. Revenue also exceeded analysts’ expectations. The company, known for its flagship lifts, has also raised its full-year outlook.

Facebook (FB) — Facebook is involved in controversy, and this morning a Wall Street Journal article details an internal debate about its handling of right-wing content. Friday’s stock price fell 5%, beating four consecutive wins. Its share in the premarket fell another 1.5%.

Knight-Swift Transportation (KNX) — Shares of the truck and logistics company rose 1.5% in front of the market after UBS upgraded its shares from “neutral” to “buy.” According to the company, NightSwift’s non-truck business is growing faster than expected.

HSBC – HSBC reported higher-than-expected quarterly profit, up 74% year-over-year. The bank also announced a $2 billion share buyback.

Southwest Gas (SWX) – Investor Carl Icahn is the first existing energy producer to sell up to $1 billion in shares as part of financing to acquire pipeline company Quasar. We are calling on Southwest Gas to make the shares available to our shareholders. Icahn, who holds significant shares in the company, opposes the deal and is pursuing a tender offer to buy the shares that are not yet available for $75 per share.

Whirlpool (WHR) – Whirlpool has been downgraded from “sector performance” to “underperform” by RBC Capital. It cites a number of factors, including the loss of market share of equipment manufacturers in North America. Shares fell 1.4% in pre-market trading.

Pfizer (PFE), BioNTech (BNTX) – The Covid-19 vaccine manufactured by Pfizer and BioNTech has been shown to be 90.7% effective in children aged 5-11 years. Health officials say the deployment of vaccines for children could come as early as November.

Pinterest, PayPal, Tesla, etc.

Source Link Pinterest, PayPal, Tesla, etc.

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