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According to AXIOS: Israeli officials revealed that Trump has spoken with Israeli Prime Minister Netanyahu and discussed the Iran issue.On May 17, the Qatari Ministry of Foreign Affairs strongly condemned the drone attacks against the United Arab Emirates, including the attack near the Barakah nuclear power plant in the Al-Ahfra district of Abu Dhabi. The ministry stated that the attacks were a “blatant violation of international law” and a “serious threat to regional security and stability.” Such “reckless attacks” targeting critical infrastructure and civilian sites have crossed a red line, and the ministry urged all parties to work to prevent further escalation. Qatar also called for de-escalation, emphasizing the need to avoid the consequences of “unprovoked attacks” and to restore stability at the regional and international levels. The ministry reiterated Doha’s full solidarity with the UAE and its support for its measures to protect sovereignty, security, and vital facilities.On May 17, the Indian Embassy in Russia reported that a large-scale drone attack in the Moscow region resulted in the death of one Indian citizen and injuries to three others. The attack occurred on May 17 in the Moscow region of Russia, where a large-scale drone attack by Ukraine occurred. It is reported that approximately 130 Ukrainian drones were shot down in the past 24 hours as they approached Moscow. This is the largest drone attack to hit the region this year.The China Earthquake Networks Center officially determined that a magnitude 3.0 earthquake occurred in Liunan District, Liuzhou City, Guangxi Province at 22:54 on May 17, with a focal depth of 10 kilometers.According to the UAEs state news agency, the UAE minister spoke with the head of the International Atomic Energy Agency after drone attacks on a nuclear power plant in the Gulf state.

When Elliott announces that it is the largest investor in Pinterest, the stock price rises

Aria Thomas

Aug 02, 2022 10:19

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Monday, activist investor Elliott Investment Management revealed it had become the largest owner in Pinterest (NYSE:PINS) Inc, therefore backing the management of the digital pinboard firm and sending the stock 21 percent higher.


Elliott has become the largest owner in Pinterest because to the company's "strong growth potential," according to a statement from Elliott managing partner Jesse Cohn and senior portfolio manager Marc Steinberg.


Elliott did not disclose its status on Pinterest. The Wall Street Journal reported in July that the investment firm had amassed a holding of more than 9 percent.


Monday, the firm lauded newly-appointed Pinterest CEO Bill Ready and hailed co-founder Ben Silbermann for the leadership move.


Ready noted on a post-earnings conference call that Elliott and Pinterest's management engaged in "a very meaningful and involved conversation."


"As a visual search engine, Pinterest offers unique marketing opportunities to businesses. I think Elliott may have a point here "said Michael Schulman, chief investment officer at Running Point Capital.


According to Bloomberg News, Elliott has accumulated a stake in PayPal Holdings Inc (NASDAQ:PYPL) and has previously invested in eBay Inc (NASDAQ:EBAY), Twitter Inc (NYSE:TWTR), and AT&T Inc. (NYSE:T).


Monday after the closing bell, Pinterest's stock jumped to $24.36; nevertheless, it is still far behind its all-time high of $89.90, which was hit in February 2021, when individuals confined to their homes by an outbreak rushed to the company for project inspiration.


Elliott's remarks coincided with Pinterest's announcement of a lower-than-anticipated profit due to higher costs and less user engagement.


Similar to its competitors, Pinterest has experienced a decline in advertising spending due to growing costs and fears of a recession.


According to finance director Todd Morgenfeld, the company encountered problems from advertisers in the consumer packaged goods industry, big-box retailers, and mid-market marketers, and the digital advertising climate will stay competitive.


Due to the impact of a stronger currency, the company anticipated a mid-single-digit increase in quarterly revenues.