Wall Street Breakfast Podcast: Pinterest Pins Premarket Pop

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Pinterest (PINS) jumps on strong results, above-expectation Q2 sales forecast. (00:14) Palantir Technologies (PLTR) perks up as Q1 results, guidance top Wall Street’s forecast. (01:08) DOJ confirms antitrust investigation into meatpacking industry – reports. (02:26)

This is an abridged transcript.

Shares of Pinterest (PINS) are up over 16% premarket after the company posted first-quarter results above Wall Street estimates, coupled with an above-expectation sales forecast.

The company posted revenue of $1B, a growth of 17% Y/Y, compared to consensus of $968.12M. It earned an adjusted profit of $0.27 per share, beating consensus by $0.05.

Global Monthly Active Users increased 11% year over year to 631 million, representing its tenth consecutive quarter of double-digit user growth.

For Q2 2026, the company expects revenue to be in the range of $1.13B to $1.15B, representing 14% – 16% growth year over year. Consensus for Q2 revenue is $1.12B.

Palantir Technologies (PLTR) is down 3% premarket after rising more than 1% in extended trading on Monday.

The technology company reported first-quarter results that topped Wall Street’s estimates.

For the period ending March 31, Palantir said it earned an adjusted $0.33 per share as revenue surged 85% year-over-year to come in at $1.63B.

The company closed 206 deals worth at least $1M during the period, including 72 worth at least $5M and 47 worth at least $10M.

Analysts had expected the company to earn an adjusted $0.28 per share on $1.54B in revenue.

Looking ahead to the second-quarter of fiscal 2026, Palantir said it expects revenue to be between $1.797B and $1.801B, above the $1.68B estimate.

Julian Lin, Investing Group Leader for Best Of Breed Growth Stocks, said Palantir’s results, especially its revenue growth, continue to “defy gravity.”

“The recent volatility has allowed the stock time to grow more into its valuation—it is worth another look,” Lin said via email.

The U.S. Department of Justice confirmed that it’s probing potential antitrust violations in the meatpacking industry as domestic beef prices soar.

Bloomberg first reported late last month that the DOJ had opened a criminal probe into how meatpackers purchase cattle from ranchers. The inquiry came after President Donald Trump in November called for an investigation, accusing the industry of artificially driving up the price of beef.

Blanche said the industry is dominated by four major processors that control roughly 85% of the beef processing market. The investigation is centered on potential collusion, price fixing, and other anticompetitive conduct in the U.S. cattle and beef markets, according to Reuters report on the press conference.

Major meatpackers include Brazil’s JBS (JBS), Tyson (TSN), Cargill, and National Beef. Spokespersons for JBS, Tyson, Cargill, and National Beef didn’t immediately respond to requests for comment from Bloomberg.

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Catalyst watch:

• American Express (AXP) will hold its annual shareholder meeting.

• The three-day CoinDesk Consensus conference will begin. Notable speakers during the event include Binance founder Changpeng Zhao, Strategy (MSTR) Executive Chairman Michael Saylor, and Cloudflare (NET) Chief Strategy Officer Stephanie Cohen.

Stock index futures rise as investors look ahead to a batch of economic reports, including labor data.

Crude oil is down 2% at $104. Bitcoin is up 1% at $80,000. Gold is up 0.7% at $4,555.

The FTSE 100 is down 1% and the DAX is up 0.9%.

The biggest movers for the day premarket: Duolingo (DUOL) -13% – Shares dipped despite better-than-expected Q1 results, as a softer growth outlook and higher investments weighed on sentiment.

Economic calendar:

• 10:00 am New Home Sales

• 10:00 am JOLTS