Peter Thiel, Co-Founder and Chairman of Palantir Technologies Inc. pauses during a press conference in Tokyo, Japan on Monday, November 18, 2019.
Kiyoshi Ota | Bloomberg | Getty Images
Check out the companies making headlines on Monday lunchtime.
Palantir — Shares of the software company fell more than 18% after Palantir’s first-quarter earnings fell short of expectations. The company reported 2 cents of adjusted earnings per share on sales of $446 million. Analysts polled by Refinitiv were expecting earnings per share of 4 cents on sales of $443 million. Palantir’s second-quarter guidance for revenue and adjusted operating margin also fell short of expectations, according to StreetAccount.
Rivian – Shares of the electric vehicle maker fell more than 17% after a CNBC report that Ford Motor will sell 8 million shares as the stock’s insider trading ban expires. Ford currently owns 102 million shares of Rivian. Ford shares fell 4%.
Uber — Shares of the ride-sharing company fell 6.4% after CEO Dara Khosrowshahi revealed plans to cut marketing and incentives spending and treat the hiring as a “privilege,” according to an email to employees obtained by CNBC . “It’s clear the market is going through a seismic shift and we need to respond accordingly,” he said.
Coty – Shares fell 5.7% despite a profit decline at the cosmetics company. Coty earned 3 cents a share on sales of $1.19 billion last quarter. Analysts polled by Refinitiv were expecting earnings of 1 cent per share on sales of $1.15 billion. Coty also raised its full-year outlook on strong consumer demand.
Tyson Foods – Shares of the beef and poultry maker rose 1.7% on 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 sales of $12.85 billion, according to Refinitiv.
BioNTech — Stock rose about 5.9% after BioNTech released a better-than-expected first-quarter report. BioNTech earned $14.24 per share on revenue of $6.37 billion. Analysts polled by Refinitiv were expecting earnings of $9.16 per share on sales of $4.34 billion.
Twitter – Shares of the social media company fell 1.9% after The New York Times reported on Elon Musk’s financial goals for Twitter, citing an investor presentation. The billionaire, who is acquiring Twitter for $44 billion, aims to quintuple revenue by 2028, reduce Twitter’s reliance on advertising, and reach 931 million users by 2028, among other goals outlined in the presentation.
Dish Network – Shares fell 1.3% after JPMorgan downgraded Dish to neutral from overweight, citing “weaker-than-expected pay-TV and wireless results.” Meanwhile, Credit Suisse upgraded Dish to above average from neutral and said it saw “enough upside potential” for the company.
Match – Shares of the online dating company fell 2.3% after Wells Fargo upgraded the stock from equal weight to overweight. Wells said shares are “tempting” at current levels.
Virgin Galactic – Virgin Galactic shares fell 6.6% as Truist downgraded the space company to hold amid concerns about additional flight delays.
– CNBC’s Jesse Pound, Tanaya Macheel, Samantha Subin and Sarah Min contributed coverage