Yahoo Finance Trending tickers: Barclays, Expedia, Pinterest, Cloudflare
Barclays (BARC.L) and Tesco Bank (TSCO.L)
Banking giant Barclays announced it had agreed a £700m deal to take over Tesco Bank on Friday, a move that will see some 2,800 banking staff transfer from the supermarket to the bank.
The deal means the supermarket will retain some of its services, including insurance, ATMs, travel money and gift cards.
There will also be an initial 10-year partnership between the pair, under which Barclays will market and distribute credit cards, unsecured personal loans and deposits using the Tesco brand.
Tesco is set to receive about £600m up front and a further £100m in cash after regulatory issues are ironed out.
Barclays' stock is down 0.4% this morning while Tesco is up around 1%.
Read more: Bank of England official issues warning over interest rate cuts
Expedia (EXPE)
Travel tech company Expedia's fourth quarter earnings painted a mixed picture on Thursday, as it reported its highest ever full-year and fourth quarter revenue, both of which grew 10%. However, gross bookings fell short of expectations at $21.67bn. Analysts had been expecting $22bn.
The company also announced a transition for its CEO position, Ariane Gorin, the president of Expedia for business, will succeed Peter Kern starting on 13 May.
Stock is now 14.4% lower in premarket trade having climbed for the last four consecutive days.
Pinterest (PINS)
Mood board platform Pinterest is also having a bad day in premarket, with shares set to wane more than 8% at the open after an earnings miss.
Pinterest's revenue for the fourth quarter came in at $981m with 12% year-on-year growth. Monthly active users jumped to 498 million with 11% year-on-year growth.
Following the results, the stock was trading almost 28% lower due to revenue sailing below expectations, but picked up after news of a partnership deal with Google announced on the company's earnings call. CEO Bill Ready told analysts the company had begun to roll out a new ad integration which will focus on monetising "under-monetised" markets.
"We went live a couple of weeks ago, and this is starting to ramp up. Third-party ad demand is scaling as we anticipated," said Ready.
Cloudflare (NET)
Cloud and software security services provider Cloudflare stock is on a tear today following Q4 earnings which outstripped expectations.
Revenue came in at $362.5m for the quarter, an increase of 32% year-over-year. Full-year 2023 revenue was $1.3bn. The company also released forecasts for its first quarter revenue at $372.5-$373.5m, beating Wall Street expectations.
The stock, which rose more than 8% on Thursday, is up around 25% in premarket trade in the US.
Watch: Tesco's first-half profit falls as Murphy era begins
