Caterpillar, Uber, Pinterest and more

Check out some of the top engines on the premarket:

Caterpillar (CAT) – Shares of the heavy equipment maker fell 3.7% in premarket after its quarterly earnings beat forecasts, but revenue was slightly below consensus. Caterpillar’s sales were hit by its exit from Russia, as well as supply chain issues, and it also experienced high costs during the quarter.

Uber Technologies (UBER): Uber reported a quarterly loss of $1.33 per share, including the impact of a $1.7 billion headwind from a decline in the value of its investments. The transit company’s revenue came in better than expected and turned cash flow positive for the first time. Its shares rallied 10.8% in pre-market action.

Pinterest ( PINS ) – Shares of Pinterest rose 18.6% in premarket trading following its quarterly results and news that activist investor Elliott Management is now the largest shareholder in the sharing site images Pinterest reported lower-than-expected earnings, but revenue was only slightly below forecasts and user numbers were slightly better than expected.

Royal Caribbean (RCL) – Royal Caribbean fell 1.2% in premarket action after announcing the price of a $1 billion debt offering. The cruise line operator will use the proceeds to refinance existing convertible notes.

Simon Property Group ( SPG ) — The mall operator reported better-than-expected quarterly earnings, though its revenue was slightly below Street forecasts. Simon CEO David Simon said mall sales are going well despite inflation concerns and the company is positioned to do well in a potential recession. Simon shares rose 2.2% in premarket.

Cowen Group ( COWN ) — Shares of the financial services firm rose 7.5% on news that it agreed to be acquired by TD Bank ( TD ) for $39 per share, or $1.3 billion in cash.

Avis Budget ( CAR ) — Shares of the car rental company rose 4% in premarket trading after reporting better-than-expected quarterly results. Avis Budget said it benefited from strong demand and “tight” cost controls.

Arista Networks ( ANET ) — The cybersecurity company reported better-than-expected profit and revenue in the most recent quarter and offered upbeat revenue guidance for the current period. Arista’s results were boosted by strong demand from cloud and data center customers, and its shares gained 5.4% in premarket action.

ZoomInfo Technologies ( ZI ) — Shares of the business software company jumped 11.3% in premarket trading after reporting better-than-expected quarterly results and raising its full-year guidance.


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About the Author: Chaz Cutler

My name is Chasity. I love to follow the stock market and financial news!