Pinterest, Uber, Cowen Rise Premarket; Caterpillar, DuPont Fall
2022.08.02 16:22
By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Tuesday, August 2nd. Please refresh for updates.
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Pinterest (NYSE:PINS) stock soared 18.2% after activist investor Elliott Investment Management disclosed Monday it had become the largest shareholder in the image sharing service, saying it had “significant potential for growth”.
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Uber (NYSE:UBER) stock rose 13.6% after the ride-hailing company reported positive quarterly cash flow for the first time ever and forecast third-quarter operating profit above estimates.
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Caterpillar (NYSE:CAT) stock fell 3.7% after the construction equipment maker disappointed with its second-quarter revenue, even as higher equipment prices helped soften the blow from elevated freight and raw material costs.
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DuPont (NYSE:DD) stock fell 2% after the industrial materials maker said net sales and operating core earnings in the current quarter would be slightly weaker than second quarter, citing currency headwinds.
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Cowen (NASDAQ:COWN) stock rose 7.6% with Toronto Dominion Bank set to buy the New York-based investment bank in a $1.3 billion all-cash deal to boost its presence in the high-growth U.S market.
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KKR (NYSE:KKR) stock fell 0.04% after the global investment company said its second-quarter after-tax distributable earnings fell 9% year-on-year, citing a slowdown in dealmaking amid the market downturn.
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Marathon Petroleum (NYSE:MPC) stock rose 3.2% after the refiner reported a jump in quarterly adjusted profit, helped by demand for fuel and refined products amid tight supplies.
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BP (NYSE:BP) ADRs rose 2.8% after the British energy giant reported a surge in second-quarter earnings to a 14-year high and increased its dividend.
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Innoviz Technologies (NASDAQ:INVZ) stock soared 22% after the manufacturer of high-performance lidar sensors won a $4 billion eight-year deal to supply a unit of Volkswagen.
