Stocks declined on the first trading day of August, snapping a three-day rally. US Treasuries gained with the 10-year yield falling to its lowest level since April.
Here are top trending after-hours tickers on Yahoo Finance:
Activision Blizzard (THAT WE): The gaming giant beat Wall Street’s revenue expectations despite a slowdown in the sector. Activision reported revenue of $1.64 billion on earnings per share of $0.47. Microsoft’s $68.7 billion planned acquisition of Activision Blizzard will be a focus for investors on the earnings call. CFRA analyst John Freeman told Yahoo Finance that Microsoft “might have to make some concessions” in order to get the deal approved by the Federal Trade Commission (FTC).
Pinterest (PINS): Pinterest shares soared in after-hours trading after Elliott Management disclosed in a statement that it is the largest shareholder and thinks new CEO Bill Ready “is the right leader to oversee Pinterest’s next phase of growth.” Revenue for the quarter jumped 9% to $666 million, but fell short of analyst expectations. Global monthly active users fell 5% to 433 million. DA Davidson Senior Research Analyst Tom Forte told Yahoo Finance that the timing of Elliott’s involvement stood out to him because it “chose to get involved in what is a very challenging macroeconomic environment for digital advertising.”
Avis Budget Group (CAR): The car-rental company reported second-quarter net income of $778 million and a 37% year-over-year jump in revenue to $3.2 billion. Avis attributed the results to strong demand and increased revenue per day. The company’s liquidity position at the end of the quarter was approximately $850 million, with $1.9 billion of fleet funding capacity.
ZoomInfo Technologies (ZI): ZoomInfo beat the street’s estimates on the top and bottom lines, posting earnings per share of $0.21 on revenue of $267.1 million. The company raised its full-year 2022 outlook, and now expects 2022 adjusted EPS of $0.78-$0.80 versus its previous outlook of $0.75-$0.77. ZoomInfo Founder and CEO Henry Schuck said in the earnings release, “Our platform strategy is resonating with customers, and we delivered another record quarter, combining strong revenue growth, profitability, and free cash flow.”