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Investing.com - U.S. stock futures were mixed on Monday, with technology stocks pointing to a firmer open, as investors scaled back bets on an impending Federal Reserve rate hike and looked ahead to a fresh batch of retail-sector earnings this week.
Pinterest stock fell late Tuesday, despite reporting second-quarter results that topped expectations. Pinterest's in-line third-quarter guidance may have been a disappointment after rival digital ad platforms Reddit and Snap offered stronger forecasts. The San Francisco-based Pinterest earned an adjusted 43 cents per share for the June-ended quarter, up 30% from a year earlier and ahead of the 36 cents per share that analysts polled by FactSet were forecasting.
Snap reported Q2 revenue of $1.6 billion, up 19% year over year, with daily active users reaching 493 million
Snap Inc (SNAP) delivers strong Q2 with record free cash flow, but faces a Q3 slowdown as World Cup tailwinds fade and infrastructure costs rise.
Earnings continue to be the market's engine, and a series of results this week from Palantir, SpaceX, and AMD are set to rev up stocks again.
Snap stock was tumbling after earnings. The cancellation of a deal with AI start-up Perplexity is likely to fuel an activist campaign.
Reddit shares jumped over 12% on Friday after an upbeat quarterly revenue forecast underscored growing returns from the social media company's AI-driven advertising tools. If current gains hold, Reddit is on track to add about $3.4 billion in market value. The company's AI-optimized ad platform enables advertisers to place targeted ads directly within relevant discussion threads across its interest-based communities called subreddits.
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