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Pre-Open Movers: Pinterest Ramps on Confirmed Large Elliott Stake, Uber Gains Following Results

August 2, 2022 8:42 AM EDT

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Pre-Open Stock Movers:

Pinterest (NYSE: PINS) 13% HIGHER; reported Q2 results and Elliott Management confirmed a stake in the company, announcing they are now the largest shareholder.

Uber (NYSE: UBER) 12% HIGHER; reported Q2 EPS of ($1.33), $1.06 worse than the analyst estimate of ($0.27). Revenue for the quarter came in at $8.1 billion versus the consensus estimate of $7.36 billion.

ZoomInfo Technologies Inc. (NASDAQ: ZI) 12% HIGHER; reported Q2 EPS of $0.21, $0.03 better than the analyst estimate of $0.18. Revenue for the quarter came in at $267.1 million versus the consensus estimate of $254.63 million. ZoomInfo Technologies Inc. sees Q3 2022 EPS of $0.19-$0.22, versus the consensus of $0.19. ZoomInfo Technologies Inc. sees Q3 2022 revenue of $277-279 million, versus the consensus of $270.21 million. ZoomInfo Technologies Inc. sees FY2022 EPS of $0.78-$0.80, versus the consensus of $0.76. ZoomInfo Technologies Inc. sees FY2022 revenue of $1.08-1.09 billion, versus the consensus of $1.06 billion.

Cowen Inc. (NASDAQ: COWN) 8% HIGHER; TD Bank Group (NYSE: TD) and Cowen Inc. (NASDAQ: COWN) today announced a definitive agreement for TD to acquire Cowen in an all-cash transaction valued at US$1.3 billion, or US$39 for each share of Cowen common stock. Through this transaction, TD Securities will accelerate its long-term growth strategy in the United States by acquiring a high-quality and rapidly growing investment bank with outstanding talent and highly complementary products and services.

Lyft, Inc. (NASDAQ: LYFT) 6% HIGHER; gains on Uber's results.

Consolidated Communications Holdings, Inc. (NASDAQ: CNSL) 6% HIGHER; announced today that Clio Subsidiary, LLC, a subsidiary of the Company, has entered into an agreement to sell its limited partnership interests in five wireless partnerships managed by Cellco Partnership, d/b/a Verizon Wireless (NYSE: VZ), to Cellco for an aggregate purchase price of $490 million. The net proceeds of the sales will be invested in the business and used to support the Companys Fiber to the Premises (FttP) build plan. The sales are expected to close by the end of 2022, subject to certain closing conditions and third-party purchase rights available to other partners in the partnerships.

Avis Budget Group (NASDAQ: CAR) 6% HIGHER; reported Q2 EPS of $15.94, $4.35 better than the analyst estimate of $11.59. Revenue for the quarter came in at $3.24 billion versus the consensus estimate of $3.19 billion.

Arista Networks (NYSE: ANET) 5% HIGHER; reported Q2 EPS of $1.08, $0.16 better than the analyst estimate of $0.92. Revenue for the quarter came in at $1.05 billion versus the consensus estimate of $978.95 million. Arista Networks sees Q3 2022 revenue of $1.025-1.075 billion, versus the consensus of $0.96 billion.

Caterpillar (NYSE: CAT) 4% LOWER; reported Q2 EPS of $3.18, $0.17 better than the analyst estimate of $3.01. Revenue for the quarter came in at $14.2 billion versus the consensus estimate of $14.28 billion.

DoorDash, Inc. (NYSE: DASH) 2% HIGHER; gains on Uber's results.



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