Palantir, Rivian, Uber and more

Take a look at some of the biggest pre-market movers:

Palantir Technologies (PLTR) – Shares of the data analytics software company plunged 15.1% in premarket trading after posting a mixed quarter. Palantir reported earnings of 2 cents per share, versus a consensus estimate of 4 cents per share. Revenues, however, were higher than expected, despite slowing growth in its government business. Palantir also released a lower-than-expected revenue guidance for the current quarter.

Rivian (RIVN) – Ford Motor (F) is selling 8 million of its 102 million shares in the electric vehicle maker, according to sources who spoke to CNBC’s David Faber. This decision comes at the expiration of the insider lock-in period for the sale of the shares. Rivian shares fell 15.6% premarket.

Uber Technologies (UBER) – Uber plans to cut spending on marketing and incentives and be deliberate about adding workers, according to an email from staff obtained by CNBC. CEO Dara Khosrowshahi said the transportation and food delivery company said Uber needed to become a leaner company to deal with a “seismic shift” in investor sentiment. Uber fell 3% in premarket.

Coty (COTY) – Coty reported quarterly earnings of 3 cents per share, beating the consensus estimate of a penny per share. Revenues also beat forecasts and the cosmetics company raised its full-year outlook due to strong demand for its products. The stock rose 1.7% pre-market.

Energizer (ENR) – The battery maker beat estimates by 9 cents per share, with quarterly earnings of 47 cents per share. Revenue beat Street’s forecast as Energizer raised prices. Its shares gained 2.3% in the pre-market.

Elanco Animal Health (ELAN) – Elanco fell 4.3% in premarket stock after the animal health products company lowered its full-year outlook, reflecting the impact of a stronger US dollar. strong. Elanco reported slightly better-than-expected earnings and revenue for its latest quarter.

Tyson Foods (TSN) – The stock rose 1% in premarket after the beef and poultry producer beat earnings and revenue estimates for its latest quarter. Tyson earned $2.29 per share, versus a consensus estimate of $1.91 per share.

BioNTech (BNTX) – BioNTech beat Wall Street estimates for earnings and revenue in its latest quarter, and also supported its earlier outlook for 2022, including Covid-19 vaccine sales projections.

Twitter (TWTR) – Elon Musk detailed his financial goals for Twitter in an investor presentation obtained by The New York Times. Among these goals: quintuple revenue by 2028, reduce Twitter’s reliance on advertising, and reach 931 million users by 2028 from 217 million at the end of 2021. Twitter fell 1.3% in the pre-market exchanges.

Shell (SHEL) – Third Point’s Daniel Loeb told investors he had increased 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, the board and shareholders about his call for a spin-off from the company. Shares of Shell fell 2.6% in premarket action.

Southwest Gas (SWX) – Southwest Gas has reached an agreement with investor Carl Icahn that will see the utility company replace its CEO and give Icahn up to four seats on the board. Southwest Gas rose 1% pre-market.

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