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Tesla, PayPal Rise Premarket; Facebook, Pinterest Fall

Stock MarketsOct 25, 2021 08:06AM ET
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© Reuters.

By Peter Nurse 

Investing.com -- Stocks in focus in premarket trade on Monday, October 25th. Please refresh for updates.

  • Tesla (NASDAQ:TSLA) stock rose 4.4% after Bloomberg reported that car rental firm Hertz has ordered 100,000 cars from the electric car manufacturer, which would mark the single-largest purchase ever for electric vehicles.

  • PayPal (NASDAQ:PYPL) stock rose 5.5% and Pinterest (NYSE:PINS) stock slumped 15% after the payments company ruled out pursuing an acquisition of the social media platform “at this time”.

  • Facebook (NASDAQ:FB) stock fell 0.5% ahead of the social media giant’s third-quarter earnings after Monday’s close at a time of heightened scrutiny from both markets and regulators.

  • HSBC (NYSE:HSBC) ADRs rose 0.9% after the U.K.-based banking giant reported a doubling of profits in the third quarter, helped by the release of reserves as the economy improved, while announcing an up to $2-billion share buyback. 

  • Restaurant Brands (NYSE:QSR) stock rose 1% after the restaurant group beat earnings expectations in the third quarter, with same-store sales at the Tim Hortons coffee chain, the biggest revenue maker for the group, jumping 8.9% in the third quarter, while those at Burger King rose 7.9%.

  • Carnival (NYSE:CUK) stock fell 1.3% after Citigroup (NYSE:C) downgraded its stance on the cruise operator's stock to ‘neutral’ from ‘buy’, seeing limited upside even if cruise line travel recovers by next summer.

  • Kimberly-Clark (NYSE:KMB) stock fell 2.4% after the personal care company’s quarterly earnings came in below expectations, hurt by supply chain issues.

  • Phunware (NASDAQ:PHUN) stock soared over 25% and Digital World Acquisition (NASDAQ:DWAC) stock climbed 9.2%, adding to recent gains, with investors continuing to bet on Donald Trump’s new social media companty. Phunware is rumored to be in line for an order to develop the platform's app.

 

Tesla, PayPal Rise Premarket; Facebook, Pinterest Fall
 

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