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Joby Aviation & Pinterest shares jump, General Mills stock slides: Trending tickers

Stocks close the day mixed, with the Dow and S&P 500 closing in the red and Nasdaq closing in the green. Pinterest shares rise as the stock receives an upgrade from Wells Fargo following the company's deal with Amazon. General Mills stock slides as the company reported a revenue miss. Joby Aviation shares jump as the company received regulator approval for test flights. Yahoo Finance Live breaks down some of the trending tickers of the day.

Video Transcript


SEANA SMITH: That's the closing bell on Wall Street. The NASDAQ just eking out gains getting a little boost here in the final minute or so of trading, closing up just about 2/10 of a percent. S&P and NASDAQ though closing just below the flat line, off the lows of the day, with the Dow off just about 72 points.

Let's take a look at some of the top movers. And one of those top movers is Pinterest. The stock jumping on an upgrade from Wells Fargo to overweight from equal weight. The analyst there citing Pinterest ad partnership with Amazon. We're looking at a gain of just about 6 and 1/2%. Wells Fargo saying that the Amazon deal is going to be a strong catalyst here for the company. They expect it to launch in the fourth quarter, just in time for the holiday season.

JARED BLIKRE: Well, how about that? I want to go to the YFi Interactive because I'm going to chart some of these social media, I guess, our heatmap here. What you notice, these are year-to-date returns. So Microsoft, Google, Meta, those are the three big ones. Everybody else is just tiny. You got to kind of squint to see Pinterest down here. But that is quite the interesting chart.

Very volatile for this smaller member. They really haven't scaled up their monetization yet. And they're also, I would say, not in the same camp as some of the Meta offerings. They don't have to suffer some of the blowback that they do from social media. And they're not developing the metaverse.

So having said that, I'm going to switch gears here. You got to talk about General Mills sliding-- share sliding on a revenue miss. Retailers are reducing inventory. But there are some good news for investors. The board did approve a dividend increase. And just thinking about the stock price and also in relation to their margins, that's been a huge one. They've affected a number of price hikes over the last year in response to rising inflation.

They do think most of those have finally abated-- or they might be a few more, but they think most of that is in the rearview mirror. The labor shortage, that's probably in the rearview mirror. So it just kind of shows you that the economy is slowly recovering from some of the displacements of the past.

SEANA SMITH: Yeah. And I think this also just really points to the spending trends or lack thereof that we're seeing from consumers and how consumers are prioritizing what they are spending on and how much they are spending, because you take into account what we heard from General Mills, the slowdown in the year ahead, a cautious consumer. They're all about food choices here. Price hikes no longer making up for the slowdown that they're seeing in sales. Certainly, worrisome signs here for the company, at least in the short term. The volumes were down in all categories, except for North America Food Service.

So seeing some pressure on the stock today, again the slowdown here, the question is, how long consumers will continue to pull back on some of their spending habits?

All right. Let's also take a look at one of the top trends on Yahoo Finance, the top trender today. And that's Joby Aviation, shares popping 40%. The maker of electric air taxis getting another step closer to commercial flights as it gets regulator approval to test flights here. We're certainly are seeing the excitement, the reaction in shares today, a massive move to the upside, Jared.

JARED BLIKRE: Yeah. I got to tell you, though, something about an electric aircraft, I don't care if it's a helicopter or if it's fixed wing, that just kind of gives me the heebie jeebies.

SEANA SMITH: You're doing pretty good risk today.


SEANA SMITH: I'm the one that's on the sideline for this.

JARED BLIKRE: I don't know why I don't trust it. I know I should. It's the batteries now. I think, yeah, I take that back. It's not the batteries.