Take a look at some of the biggest incentives in the premarket:
Caterpillar (CAT) – Shares of the heavy equipment maker fell 3.7% in the premarket after its quarterly profit beat estimates 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 saw increased 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 the decline in the value of its investments. The company’s revenue did perform better than expected and turned cash flow positive for the first time. Its shares rallied 10.8% in premarket action.
Pinterest ( PINS ) – Shares of Pinterest rose 18.6% in premarket trading following quarterly results and news that activist investor Elliott Management is now the image-sharing site’s largest shareholder. Pinterest reported lower-than-expected earnings, but revenue was slightly below forecasts and user numbers were somewhat better than expected.
Royal Caribbean ( RCL ) – Royal Caribbean fell 1.2% in premarket action after announcing the pricing of a raised $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, although its revenue was slightly below Street forecasts. Simon CEO David Simon said mall sales are doing well despite concerns about inflation and that the company is positioned to do well in a possible downturn. Simon shares added 2.2% in premarket.
Cowen Group ( COWN ) – Shares of the financial services firm rose 7.5% after news that it agreed to be acquired by TD Bank ( TD ) for $39 per share, or $1.3 billion in cash.
Avis Budget ( CAR ) – The car rental company’s stock jumped 4% in premarket trading after it reported better-than-expected quarterly results. Avis Budget said it benefited from strong demand and “strict” cost controls.
Arista Networks (ANET) – The cybersecurity company reported better-than-expected earnings and revenue for its most recent quarter and gave upbeat revenue guidance for the current period. Arista’s results were boosted by strong demand from cloud and data center customers, and its stock gained 5.4% in premarket action.
Zoominfo Technologies ( ZOOM ) – Shares of the business software company rose 11.3% in the premarket after it reported better-than-expected quarterly results and raised its full-year guidance.