Uber Technologies, Inc. ( NYSE: UBER ) moved higher by more than 10% as the firm turned cash flow positive for the first time in its history. Also on the rise are shares Simon Property Group ( NYSE: SPG ) as the organization delivered a strong Q2 and guidance report.
On the other side of the coin, Caterpillar Inc. ( NYSE: CAT ) shares have drifted lower on a mixed Q2 earnings report. QuantumScape Corporation ( NYSE: QS ) also has found itself in negative trading territory in early market action.
Gainers
Uber Technologies, Inc. ( UBER ) popped 13.7% despite a Q2 GAAP EPS miss. UBER tracked higher on Tuesday morning as the company turned cash flow positive for the first time and the ride hailing firm forecasted third-quarter operating profit above estimates. In its Q2 report, the stock posted Q2 GAAP EPS of -$1.33, which missed estimates by $1.06; the company did however beat on revenue by $700M.
Simon Property Group ( SPG ) shares are in the green by 1.4% as the real estate investment trust raised its 2022 guidance after a Q2 earnings beat. Supporting SPG were increased occupancy at stores in malls along with a continued rise in rent per square foot.
Decliners
Caterpillar Inc. ( CAT ) had found itself lower in premarket trading by 3.5% after posting a mixed Q2 report . CAT produced Q2 Non-GAAP EPS of $3.18 which beat estimates by $0.16 but missed on revenue by $190M.
QuantumScape Corporation ( QS ) slipped 2% as the solid-state lithium metal batteries firm announced that it had filed late on Friday for $1B mixed securities shelf offering . QS said it will retain broad discretion on the use of the proceeds, but that it could go towards acquiring, licensing or investing in complementary products, technologies or businesses.
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Hot Stocks: UBER popped over 10%, SPG rises on guidance, while CAT falls on earnings, QS also slides