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Pinterest Tanks Despite a Strong Quarter. What Wall Street Is Saying.

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Pinterest’s outlook for second-quarter growth was below Wall Street’s expectations.


Gabby Jones/Bloomberg


Pinterest

stock shed much of its 2021 gains Wednesday after the social media firm reported first-quarter results the evening before. Though the company’s earnings and revenue figures beat expectations, Wall Street honed in on disappointing user growth.

Shares of

Pinterest

(ticker: PINS) were down 13% to $67.49 in mid-day trading, while the S&P 500 index was flat. The drop cut the stock’s year-to-date gains to 2.5% and one-year gains to 223%.

Citi Research analyst
Jason Bazinet
noted that the company’s adjusted earnings and revenues were all

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Major Wall Street analysts on Apple’s second quarter earnings

Apple CEO Tim Cook delivers the keynote address during the 2020 Apple Worldwide Developers Conference (WWDC) at Steve Jobs Theater in Cupertino, California, June 22, 2020.

Brooks Kraft | Apple, Inc. | via Reuters

Wall Street analysts are largely focusing on the iPhone ahead of Apple’s second quarter earnings report on Wednesday after the bell.

The tech giant has largely done well during the pandemic driven by high demand of products like the Mac and iPad. In addition, the company debuted several updated products last week.

But now supply chain questions are emerging over the iPhone as well as sales

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