Pinterest Saw an Acquisition Rumor and ASML ADR Reported Quarterly Earnings
Pinterest is a social media company located in San Francisco, California. It allows users to find inspiration for things like DIYs and home decoration. Although it seems a bit insignificant, the company is valued at $40.41 billion.
On Wednesday, there were rumors that Pinterest would be acquired by tech giant PayPal. This news shook the markets as it makes no sense, but some realizations came. Pinterest’s likelihood to be acquired seems to be higher than normal now, and PayPal is trying to become a super app like WeChat in China. Pinterest investors were encouraged that the acquisition would be at a premium, so the stock rose to $62.68, up 12.77%.
ASML is a technology company that manufactures semiconductors and chips. They are a foreign company located in the Netherlands, and they have a market cap of $317.313 billion, making them a very large player in the industry.
ASML reported their third quarter earnings on Wednesday, and there were ups and downs. They had earnings of $4.97 per share, which beat expectations by a sizable amount, but sales fell short. Revenue slightly beat expectations, with the company receiving $6.1 billion, which fell short of the $6.17 billion expectation. The chip shortage is heavily affecting the company, and it was shown with the sales, which disappointed investors. Due to this, ASML closed the day at $767.70, down 4.15%
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.