New York stocks declined on August 1st, marking the end of a three-day rally. In contrast, U.S. Treasuries gained, resulting in the 10-year yield dropping to its lowest level since April. While the NYSE may have slipped, several trending stocks have emerged, each of which has reported promising financial results.
Gaming giant Activision Blizzard is among the day’s big after-hours performers, overcoming the gaming sector slowdown to beat Wall Street revenue estimates. The company reported a revenue of $1.64 billion and $0.47 earnings per share. Aside from its strong financial performance, Activision Blizzard is also being closely monitored by investors due to Microsoft’s planned acquisition of the company for $68.7 billion. Currently, Microsoft is seeking the Federal Trade Commission’s approval in order to get the deal done.
Pinterest reported a respectable revenue increase of 9% to $666 million. Despite falling short of analysts’ expectations, the company has done well to cope with what has been a challenging climate for digital advertisers as of late. Pinterest’s global monthly active users decreased by 5% to 433 million during the same period.
Other strong performers include Avis Budget Group and ZoomInfo Technologies, reporting revenues of $778 million and $267.1 million respectively. Avis achieved a 37% year-on-year rise in revenue, while ZoomInfo beat analysts’ estimates with its earnings per share of $0.21.