Lyft Surges, Pinterest Rises, 1800 Flowers Plunges After Withdrawing Guidance
On this episode of Stock Movers:
- Lyft shares surge on results after the bell on Thursday; better-than-expected gross bookings in the first quarter, a sharp contrast with disappointing results from Uber. It also announced an accelerated and expanded share buyback program. Some areas key to its positive results include Indianapolis, where it saw a 37% gain in rides; and Canada, where rides are up 50%.
- Pinterest shares rise after 2Q revenue guidance beat estimates. CEO Bill Ready cited the company's ability to leverage AI to personalize the user experience is their "key differentiator." Tech allows them to provide advertisers early signs on trends before they show up in purchasing data.
- 1800 Flowers shares plunge after it withdrew its near-term guidance and shuffled its management team, including naming a new CEO.That's after reporting 3Q results that showed a bigger-than est loss per share -- $2 80c vs 26c estimate; net revenue also disappointed and down 13% from a year earlier.
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