U.S. stocks fell on Friday on weak labor data. The U.S. economy added 164,000 jobs in July, which was lower than expected. Further, the unemployment rate was 3.7%. The Dow Jones Industrial Average fell 0.91% to 26,338, the S&P 500 index slid 1.12% to 2,920 and the Nasdaq Composite Index tumbled 1.75% to 7,696.
Shares of Pinterest Inc. (NYSE:PINS) jumped more than 18% after it announced second-quarter results after the closing bell on Thursday. The company posted a loss of 6 cents per share on $261.36 million in revenue, reflecting 62.1% growth from the prior-year quarter. The company beat earnings estimates by 3 cents and revenue expectations by $24.02 million.
"The momentum we have seen over the past several quarters continued as more advertisers recognize the power of our platform to reach consumers," Chief Financial Officer Todd Morgenfeld said.
For the quarter, the adjusted earnings before interest, taxes, depreciation and amortization was -$26 million, and the Ebitda margin expanded 10 percentage points year over year.
Further, the number of monthly active users reached 300 million.
Looking ahead to full-year 2019, the company expects revenue between $1.09 billion and $1.11 billion. Adjusted Ebitda is projected to range from -$(50) million to -$(25) million.
- Newell Brands Inc. (NASDAQ:NWL) +16.3%
- Noble Energy Inc. (NYSE:NBL) +7.9%
- Sealed Air Corp. (NYSE:SEE) +7.5%
- Kroger Co. (NYSE:KR) +3.7%
- Western Union Co. (NYSE:WU) +3.4%
- NetApp Inc. (NASDAQ:NTAP) -21.3%
- Hewlett Packard Enterprise Co. (NYSE:HPE) -7.7%
- IPG Photonics Corp. (NASDAQ:IPGP) -5.2%
- HP Inc. (NYSE:HPQ) -4.8%
The main European stock markets traded in the red. The U.K.'s FTSE 100 retreated 2.34%, France's CAC 40 plummeted 3.57%, Germany's Dax declined 3.11% and Spain's Ibex 35 tumbled 1.56%.
In Asia, Japan's Nikkei 225 fell 2.11%, India's BSE Sensex gained 0.27%, Hong Kong's Hang Seng lost 2.35% and China's Shanghai Composite dipped 1.41%.
Disclosure: The author holds no positions in any stocks mentioned.
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This article first appeared on GuruFocus.
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