Pinterest Stock Crashes 18% on Earnings Miss (And Denny’s Gets Bought for $620 Million)
Pinterest shares tanked 18% after missing both revenue and earnings estimates, as investors lose patience with its slow monetization. McDonald’s posted mixed results, beating on same-store sales but narrowly missing earnings forecasts. U.S. companies have announced nearly 950,000 layoffs through September — the highest since 2020 — signaling cracks in the labor market. Nintendo stock climbed 2.5% after raising sales projections for the Switch 2, which analysts say could see the strongest console debut in history. Starbucks sold a majority stake in its China operations to Boyu Capital, valuing the deal at $4 billion. Hertz shares soared 36% after a major earnings beat signaled its turnaround may finally be working. Denny’s is being taken private in a $620 million deal by TriArtisan Capital, the firm behind TGI Fridays and P.F. Chang’s. And Lyft struck a new partnership with United Airlines, giving riders the ability to earn or redeem MileagePlus miles on trips.
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