Take a look at some of the biggest movers in the advance market:
Activision Blizzard (ATVI) – Activision shares rose 2.7% in pre-market trading after Warren Buffett told Berkshire’s annual meeting that the company had increased its stake in the video game maker.
Bilibili (BILI) – The Chinese-based online gaming company’s stock fell 4.2% in the advance market after Jefferies lowered its price target to $ 51.30 from $ 61.50 per share, citing Bilibili’s recent cut in its earnings prospects due to the resurgence of Covid cases in China.
Moody’s (MCO) – The credit rating agency missed estimates by a penny per. share with a quarterly profit of $ 2.89 per share. Revenue was slightly above analysts’ expectations. Moody’s also lowered full-year revenue expectations due to the expectation of continued market volatility, and the stock fell 3.6% in the pre-market.
Global Payments (GPN) – The payment technology company reported a quarterly profit of $ 2.07 per share, beating estimates by 3 cents per share. shares. Revenue also topped analysts’ forecasts. The company also said it is making progress with a strategic review of its Netspend consumer business.
Berkshire Hathaway (BRK.B) – Berkshire had a mixed quarter, with first-quarter earnings beating estimates as revenue was lower than Wall Street’s forecasts. Earnings fell compared to a year ago due to turbulence in the stock market and an increase in insurance claims.
HSBC (HSBC) – HSBC is under pressure from its largest shareholder – China-based insurance company Ping An – to break up, according to a source familiar with the matter, who spoke to Reuters. Ping An is said to have presented its break-up plan to the bank’s board.
Moderna (MRNA) – Moderna said their Covid-19 vaccine for children under 6 will be ready for review by a Food and Drug Administration panel when it meets in June. Last week, Moderna applied for an emergency use permit for the treatment.
China EV Makers – Li Auto (LI) and Nio (NIO) both reported a drop in deliveries in April compared to a year ago, saying production was hit by the resurgence of Covid in China. However, Rival Xpeng (XPEV) reported an increase in deliveries compared to April 2021. Li Auto fell 1.7% in the pre-market while Nio lost 2%.