A number of stocks fell in the afternoon session after the Federal Reserve held its benchmark rate at 3.5%–3.75%, unchanged since late 2025's rate cuts, while its dot plot raised the median year-end rate estimate from 3.4% to 3.8%, signaling the easing cycle that had been lifting high-multiple valuations could go into reverse.
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Shares of social commerce platform Pinterest (NYSE: PINS) fell 6.6% in the afternoon session after investors grew increasingly concerned about persistent inflation and rising bond yields, raising worries about future Federal Reserve policy.
Pinterest, Inc. reported first-quarter 2026 revenue of US$1,007.51 million, up from US$854.99 million a year earlier, but swung to a net loss of US$73.59 million and a diluted loss per share of US$0.12; the company also issued second-quarter revenue guidance of US$1,133 million to US$1,153 million and announced its Chief Accounting Officer’s resignation. Alongside these operating updates, a series of securities fraud class action lawsuits alleging misleading disclosures on tariffs,...
Multiple federal securities class action lawsuits have been filed against Pinterest (NYSE:PINS), alleging material misstatements related to advertising revenue and restructuring plans. The lawsuits coincide with Pinterest reporting stronger than expected first quarter results, supported by growth in AI powered ad capabilities. The company has also been active in share repurchases, which is now part of the backdrop for the legal challenges. Pinterest runs a visual discovery and shopping...
Pinterest forecast second-quarter revenue above analysts' estimates on Monday, helped by steady spending from advertisers as the image-sharing platform sharpens its ad offerings with deeper artificial intelligence integration. Shares of the California-based company jumped 16% in extended trading. The company has been stepping up investments in AI, rolling out enhancements to its Performance+ ad suite to automate ad creation and improve personalized targeting, which have started to bear fruit.
ON Semiconductor, Pfizer, Uber, McDonald’s, and many more will report earnings this week. Economic releases will include the April jobs report and purchasing managers index.