Pinterest, PayPal, Tesla and more

Check out a number of the greatest movers within the premarket:

Pinterest (PINS) – Pinterest shares tumbled 13.2% in premarket buying and selling after PayPal (PYPL) stated it was not pursuing an acquisition of the social media firm presently. Its assertion got here in response to studies that it was pursuing an acquisition of Pinterest for as a lot as $45 billion. PayPal shares jumped 6.1%.

Tesla (TSLA) – Tesla raised costs on sure variations of its Mannequin X and Mannequin S vehicles, in line with the corporate’s web site. Moreover, automotive rental big Hertz has reportedly ordered 100,000 Tesla automobiles for its fleet. Tesla shares rallied 4.3% within the premarket.

Kimberly-Clark (KMB) – The buyer merchandise firm’s inventory slid 3% in premarket buying and selling after quarterly earnings got here in 3 cents a share beneath estimates at $1.62 per share. Income was barely above forecasts, however Kimberly-Clark’s outcomes have been hit by larger inflation and provide chain points.

Restaurant Brands International (QSR) – The restaurant operator reported quarterly profit of $1.52 per share, 2 cents a share above estimates. Income was barely beneath Wall Road forecasts, with Covid-19 contributing to provide chain and labor pressures for the mum or dad of Tim Hortons, Burger King and Popeyes. The inventory added 1.2% within the premarket.

Otis Worldwide (OTIS) – Otis got here in 4 cents a share above estimates, with quarterly earnings of 77 cents per share. Income additionally topped analysts’ projections. The corporate greatest recognized for its flagship elevators additionally raised its full-year outlook.

Facebook (FB) – Fb continues to be embroiled in controversy, with a Wall Road Journal story this morning detailing inside arguments over the dealing with of right-leaning content material. The inventory fell 5% Friday, breaking a four-session win streak. Its shares dropped one other 1.5% within the premarket.

Knight-Swift Transportation (KNX) – The trucking and logistics firm’s inventory rose 1.5% within the premarket after UBS upgraded the inventory to “purchase” from “impartial.” The agency stated Knight-Swift’s non-trucking enterprise is increasing sooner than it had anticipated.

HSBC (HSBC) – HSBC reported better-than-expected quarterly profit, with a 74% rise from a yr earlier, and the financial institution additionally introduced a $2 billion share buyback.

Southwest Gas (SWX) – Investor Carl Icahn is looking on Southwest Fuel to first offer shares to existing shareholders, amid the vitality producer’s plans to promote as much as $1 billion in fairness as a part of financing to purchase pipeline firm Questar. Icahn – who holds a big stake within the firm – is towards the deal, and is shifting forward with a young provide to purchase the shares he would not already personal for $75 per share.

Whirlpool (WHR) – Whirlpool was downgraded to “underperform” from “sector carry out” at RBC Capital, which cites a variety of components together with the equipment maker’s lack of market share in North America. The inventory slid 1.4% in premarket buying and selling.

Pfizer (PFE), BioNTech (BNTX) – The Covid-19 vaccine made by Pfizer and BioNTech confirmed 90.7% effectiveness in kids aged 5-11. Well being officers say a rollout of the vaccine for teenagers might come as quickly as early November.