Peter Thiel, co-founder and chairman of Palantir Technologies Inc., took a break during a press conference in Tokyo, Japan, on Monday, November 18, 2019.
Kiyoshi Ota | Bloomberg | Getty Images
Check out the leading companies in Monday’s lunch business.
Palantir – Shares of the software company fell more than 18% after Palantir’s earnings for the first quarter fell below expectations. The company reported 2 cents adjusted earnings per share on revenue of $ 446 million. Analysts polled by Refinitiv expected 4 cents earnings per share on $ 443 million in revenue. Palantir’s second-quarter revenue and adjusted operating margin guidelines were also below expectations, according to StreetAccount.
Rivian – Electric vehicle maker’s shares fell more than 17% after a CNBC report said Ford Motor would sell 8 million shares as the internal stock block expires. Ford currently owns 102 million shares of Rivian. Shares of Ford fell 4%.
Uber – Travel Shares fall 6.4% after CEO Dara Khosrowsahi unveils plans to cut marketing costs and incentives and treat hiring as a “privilege”, according to an email to CNBC employees . “It is clear that the market is undergoing seismic change and we need to react accordingly,” he said.
Coty – Shares fell 5.7% despite falling profits from the cosmetics company. Coty earned 3 cents a share on revenue of $ 1.19 billion in the last quarter. Analysts polled by Refinitiv expected earnings of 1 cent per share on revenue of $ 1.15 billion. Coty also raised its year-round outlook based on strong consumer demand.
Tyson Foods – Shares of beef and poultry producers rose 1.7% amid better-than-expected quarterly results. Tyson reported earnings of $ 2.29 per share on revenue of $ 13.12 billion. Analysts had expected earnings of $ 1.91 per share on revenue of $ 12.85 billion, according to Refinitiv.
BioNTech – Shares rose about 5.9% after BioNTech published a better-than-expected report for the first quarter. BioNTech earned $ 14.24 per share on revenue of $ 6.37 billion. Analysts polled by Refinitiv expected earnings 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 the financial goals of Elon Musk on Twitter, citing a presentation by the investor. The billionaire – who is acquiring Twitter for $ 44 billion – aims to double his revenue by 2028, reduce Twitter’s dependence on advertising and reach 931 million users by 2028, among other goals set out in the presentation.
Dish Network – Shares fell 1.3% after JPMorgan downgraded Dish to neutral from overweight, citing “weaker-than-expected results for PayTV and wireless.” Credit Suisse, meanwhile, is modernizing Dish to outperform neutrals, saying it sees “enough growth” for the company.
Coincidence – Shares of the online dating company fell 2.3% after Wells Fargo improved its shares to an overweight of the same weight. Wales said the shares were “captivating” at current levels.
Virgin Galactic – Shares of Virgin Galactic fell 6.6% as Truist downgraded the space travel company’s rating to abandon the purchase amid fears of additional flight delays.
– CNBC’s Jesse Pound, Tanaya Machil, Samantha Subin and Sarah Min contributed to the report
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