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Let's take a look at some stocks on the move today.
I'm Nathan Hager, joined by Bloomberg's Critty GOUPDA on a down Tuesday morning, and a lot of the negativity. It seems. Critty is driven by Palenteered despite their earnings beat. Good morning, Good morning, Nathan.
Yeah, a fascinating one here, because this really proves the idea that sometimes being an A plus plus student just isn't enough.
And that's the story with Palenteer this morning.
Strong booking, strong profit, strong guidance going into the next year, and yet the stock is quite literally driving down not only the games you're seeing the futures picture, but kind of bleeding into some of the sentiment across the board when it comes to those heavyweight tech stocks. So Palenteer shares down seven point four percent this morning, one hundred and ninety one dollars a share.
We'll call it one hundred and ninety two just to round up. PLR is your ticker.
You're starting to see a lot of the street use that scary word valuation, this idea that you've just seen the stock rally, but one hundred and fifty percent year to date. So there's a big question here of whether this is just time to come back down to earth. And that's something that's bleeding into really the entire market
this morning. Let's talk about that tech story though, because we have another stock crossing the earnings I should say crossing the wire, Uber coming out you Ber is your ticker shares plummeting now five percent as we are speaking.
Again. This comes after their third quarter results where.
Their gross bookings actually seem to be coming in kind of in the range that was expected at least for the fourth quarter. The third quarter bookings came in higher than expected. The estimate was forty eight point ninety six billion. It came in at forty nine point seventy four billion. The fourth quarter gross bookings as well the range again coming in in line with estimates. So us unclear what's driving this stock lower at the moment, but it might
just be a sentiment thing. It feels like if you are a tech stock this morning, you are getting punished a good earnings or not.
The story with Palnenteer.
At least on the surface, that seems to be the story with Uber as well. There's a couple of other earnings crossing the wire as well.
Nathan. Let's talk about Pfizer if we can.
Sure PFE is your ticker for the pharmaceutical stock, vaccine maker, whatever you want to call it. Those shares hire by one point one percent, so it's not doom and gloom everywhere. Shares are at trading at about twenty five dollars a share approximately, give or take a couple of cents. Their earnings are coming in because they've boosted profit there are
looking for diversifying remember their portfolio of drugs. A big piece of that is their approach around Metsara, something that they're in a bidding war with the likes of Novo Nordisk on. So nevertheless, they are talking about boosting profit despite some of their COVID nineteen vaccines seeing less demand, and of course that is something that was largely expected in some of these earnings are fully your adjusted EPs also coming in hotter than what the street expected.
So some good news there.
I have to throw this one in, Nathan, just because I think it's a fascinating story. I heard media is having a massive day. This isn't a stockings cover in this in this segment, but it's worth hitting.
IHRT is your ticker. Hired by almost ten percent this morning, was hired by even more earlier in the sessions. Is the stock that's about three dollars and change. So again grain the salt there.
But they're in talks with Netflix to license video podcasts from their platform. So really taking Netflix's move into the podcasting arena more seriously because it's moving iHeart media shares in a very, very big way. I have to Now that I've talked about higheart Media, I have to talk about Denny's as well. Well.
Okay, I naturally d N is your ticker, the Denny's podcast.
I mean, I'm a waffle house kind of girl, but Denny's understood, is getting the credit this morning. Okay, here's are hire by forty nine percent because apparently it's going private for six hundred and twenty million dollars to get the folks who are really excited about Denny's.
Who got real excited about that?
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