Investors who are news-driven in their stock-buying decisions have four stocks to consider.
Pinterest (PINS) will open down by around 12% - 15% today after it reported a non-GAAP EPS of $0.29. Revenue grew by 20.5% Y/Y to $853.68 million. However, the social media site issued Q3 revenue of $885 million to $900 million. 16%-18% revenue growth Y/Y is too low to justify the company’s $25.52 billion market capitalization.
Tinder owner Match (MTCH) reported revenue growing by 4.2% Y/Y to $864.1 million. Although payers fell by 5% to 14.8% Y/Y, the stock should open up by over 7%. It needs positive buying momentum over the next few days to break out to the $40.00 range.
In China, EV maker BYD (BYDDF) plans to enter the Canadian automotive market. That is highly disruptive since the firm has low production costs and overhead. It would increase heightened competition for firms like Ford Motor (F). Canada is reviewing the need to apply tariffs against China’s EV suppliers.
In the social networking sector, trade Meta Platforms (META). The firm agreed to pay Texas a $1.4 billion fine. The firm illegally used facial recognition technology, collecting biometric data from millions of Texans.
Meta will report quarterly earnings after the market closes today.
