Stocks making the biggest moves midday: Uber, Pinterest, Caterpillar and more

cnbc.com:

In this article

Check out the companies making headlines in midday trading Tuesday.

Uber Technologies — Uber shares popped 17.6% after the ride-hailing giant reported a quarterly revenue that beat analyst expectations. The company's revenue came in at $8.07 billion, topping a Refinitiv consensus forecast of $7.39 billion. Still, Uber also reported a big loss per share.

Pinterest — Shares of the image-sharing company surged 12% on the back of better-than-expected user numbers. Activist investor Elliott Management also confirmed separately that it's Pinterest's top investor and said it has «conviction in the value-creation opportunity» at the company. All that said, Pinterest's earnings and revenue missed estimates for the second quarter, and the company gave weak guidance for the third quarter.

Marathon Petroleum — Shares advanced 4% after the refining company reported second-quarter earnings that exceeded profit and revenue estimates, boosted by the surge in oil prices.

Gartner — Shares of the research and consulting company gained 6.9% after Gartner topped earnings and revenue estimates for the previous quarter. Wells Fargo also initiated coverage of Gartner with an overweight rating.

Caterpillar — Caterpillar shares slipped 3.5% after the company missed revenue expectations in the second quarter. The industrial giant said its top line was hurt by its exit from Russia and supply chain issues.

Cowen — The brokerage's stock jumped 8% after TD Bank announced a deal to buy Cowen for $39 per share, or roughly $1.3 billion. TD said the all-cash deal should close in the first quarter of 2023. The U.S.-traded shares of TD dipped by less than 1%.

Molson Coors — Shares of the beverage company slid nearly 10% after Molson Coors