Stock Market News
Midday Movers: Pinterest, Uber Technologies, JetBlue and More
2022.08.02 21:29
By Liz Moyer
Investing.com — U.S. stocks wobbled on Tuesday, but tech stocks tried to stage a rally midday. Here are the midday movers for Aug. 2:
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Pinterest Inc (NYSE:PINS) shares jumped after hours on Monday and continued to climb Tuesday, up 11% after activist investor Elliott Management said it was the social media company’s biggest shareholder.
- Uber Technologies Inc (NYSE:UBER) stock rose 16% after stronger than expected revenue for the last quarter and a 33% surge in bookings. A loss per share was attributed to declines in the value of investments such as Aurora, Grab and Zomato.
- JetBlue Airways Corp (NASDAQ:JBLU) shares fell more than 6% after a disappointing second quarter as higher fuel costs and labor shortages weighed on results. The carrier, which recently won its battle to buy Spirit Airlines (NYSE:SAVE), still said it’s on track to be profitable for the second half of this year.
- BP PLC ADR (NYSE:BP) shares rose 1.7% after the major oil producer reported record second quarter profits that beat expectations amid soaring fuel prices.
- Molson Coors Brewing Co (NYSE:TAP) shares fell nearly 10% after the brewer reported softening beer sales as some inflation-pinched consumers are trading higher-priced brands for cheaper labels.
