Pinterest plunges as gloomy forecast dampens revenue rebound hopes

Pinterest shares tumbled more than 12% premarket on Wednesday after a muted third-quarter outlook dashed Wall Street's expectations for a stabilization in its revenues amid a rebound in the digital ad market.

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Pinterest plunges as gloomy forecast dampens revenue rebound hopes  Pinterest shares tumbled more than 12% premarket on Wednesday after a muted third-quarter outlook dashed Wall Street's expectations for a stabilization in its revenues amid a rebound in the digital ad market.

Altria posts lower-than-expected quarterly results on muted cigarette demand  Altria missed expectations for quarterly revenue and profit on Wednesday, as the tobacco giant contends with persistent weakness in demand for its cigarette brands.

Boeing names aerospace veteran Kelly Ortberg CEO to steer turnaround job  Boeing on Wednesday named aerospace industry veteran Kelly Ortberg as its new President and CEO after a months-long search, tasking the former Rockwell Collins executive with the monumental job of turning around the struggling planemaker.

Johnson Controls CEO to retire, names new director after talks with Elliott  Johnson Controls said on Wednesday that CEO George Oliver will retire and the building solutions provider appointed Patrick Decker as a director to its board following talks with activist investor Elliott Investment.

Boeing posts bigger loss as defense business struggles to turn around  Boeing posted a bigger quarterly loss, as its troubled defense and space business exacerbated the financial strain on the U.S. planemaker that has already scaled back commercial aircraft production to tackle a quality crisis.

Delta Air Lines CEO says CrowdStrike outage to cost carrier $500 mln, CNBC reports  Delta Air Lines CEO Ed Bastian said the carrier would take a $500 million hit related to the CrowdStrike outage, CNBC reported on Wednesday.

Adidas sees soccer trend lasting into 2025  Adidas expects soccer's increasing appeal among consumers globally to be a trend that lasts into 2025, after sales of its jerseys in connection to this year's soccer tournaments surpassed its expectations.

Apple likely to post higher revenue as discounts aid iPhone demand in China  Apple will likely report on Thursday that it returned to revenue growth in its fiscal third quarter as it won back some customers in China with big iPhone discounts and sold more high-margin iPads thanks to a refreshed design.

Marriott cuts 2024 sales view on China drag, slower North American demand  Hotel operator Marriott International lowered its forecast for 2024 room revenue growth on Wednesday, citing a weaker operating environment in China and expectations of softer demand in North America.

Bunge shares slide after quarterly profit miss  Bunge missed Wall Street expectations for second-quarter profit on Wednesday, sending shares down nearly 6% before the opening bell, as narrower processing margins hurt the grain trader.

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