{"id":45397,"date":"2023-08-07T09:27:19","date_gmt":"2023-08-07T13:27:19","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/berkshire-hathaway-sage-tyson-foods-sovos-lucid-and-more-market-movers\/"},"modified":"2023-08-07T09:27:21","modified_gmt":"2023-08-07T13:27:21","slug":"berkshire-hathaway-sage-tyson-foods-sovos-lucid-and-more-market-movers","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=45397","title":{"rendered":"Berkshire Hathaway, Sage, Tyson Foods, Sovos, Lucid, and More Market Movers"},"content":{"rendered":"
\n
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Stock futures traded higher Monday as Wall Street comes off a losing week and turns its attention to U.S. inflation and how the data will influence the Federal Reserve\u2019s path on interest rates.<\/p>\n

These stocks were poised to make moves Monday:\u00a0<\/p>\n

\n

Warren Buffett\u2019s
\n Berkshire Hathaway
\n (ticker: BRK.A, BRK.B) reported second-quarter after-tax operating earnings of $10 billion, a quarterly record, up from $9.4 billion a year earlier on strength in insurance underwriting and higher investment income. Net income was $35.9 billion, swinging from a year-earlier loss of $43.6 billion. Stock repurchases in the second quarter were $1.4 billion, compared with $4.4 billion in the first quarter and $1 billion a year earlier.
\n Berkshire Hathaway
\n \u2018s class B shares rose 1.3% in premarket trading to $354.50.<\/p>\n

\n Sage Therapeutics
\n (SAGE) tumbled 49% after the biopharmaceutical company and partner
\n Biogen
\n (BIIB) failed to receive Food and Drug Administration approval for a treatment of major depressive disorder.
\n Biogen
\n shares fell 2.4%. <\/p>\n

\n Tyson Foods
\n (TSN) declined 8.5% after the meat company reported fiscal third-quarter earnings and revenue below Wall Street\u2019s expectations, and the company recorded a significant quarterly impairment charge on the closure of chicken facilities.<\/p>\n

Shares of
\n Yellow
\n (YELL) were falling 30% to $2.51 after the trucking company filed for bankruptcy and said it would be closing the business. The stock soared more than 400% last week even as Yellow\u2014one of the country\u2019s largest and oldest trucking companies\u2014 was expected to file for bankruptcy. <\/p>\n

\n Sovos Brands
\n (SOVO), the seller of sauces and soups, was rising 25% to $22.51 after announcing it has agreed to be acquired by
\n Campbell Soup
\n (CPB) for $23 a share, or a total enterprise value of about $2.7 billion. Sovos also posted better-than-expected second-quarter earnings.<\/p>\n

Shares of electric heavy-duty truck maker
\n Nikola
\n (NKLA) were rising 8.4% on Monday.
\n Nikola
\n stock dropped 26.4% on Friday following the surprise resignation of its CEO and after the company slashed its outlook.<\/p>\n

American depositary receipts of
\n BioNTech
\n (BNTX) the German company that developed a Covid-19 vaccine with
\n Pfizer
\n (PFE), were falling 6.1% after second-quarter revenue missed expectations. <\/p>\n

\n DraftKings
\n (DKNG) rose 3% after shares of the sports-betting company were upgraded to Overweight from Equal Weight at
\n Wells Fargo
\n and the stock received a number of price target hikes from Wall Street. Last week, the company beat revenue expectations for its second quarter and hiked its full-year guidance. <\/p>\n

\n Wayfair
\n (W) was rising 2.5% in premarket trading to $85.20 after shares of the online home-furnishings retailer were upgraded to Buy from Neutral at
\n UBS
\n \u00a0and the price target was raised to $110 from $72.<\/p>\n

\n Fortinet
\n (FTNT) was upgraded to Buy from Neutral with a $70 price target at Guggenheim. The stock was rising 1.9% to $57.82 in premarket trading after falling 25% on Friday following second-quarter billings that missed expectations and after the cybersecurity company said it saw an \u201cunusually large volume of deals\u201d pushed out beyond the second quarter.\u00a0<\/p>\n

\n Lucid
\n (LCID) reduced prices on most of its lineup of Air luxury sedans, and shares of the electric-vehicle maker were rising 0.9% in premarket trading.
\n Lucid
\n is scheduled to report earnings after the closing bell Monday.<\/p>\n

Write to Joe Woelfel at\u00a0joseph.woelfel@barrons.com\u00a0<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Stock futures traded higher Monday as Wall Street comes off a losing week and turns its attention to U.S. inflation and how the data will influence the Federal Reserve\u2019s path on interest rates. These stocks were poised to make moves Monday:\u00a0 Warren Buffett\u2019s Berkshire Hathaway (ticker: BRK.A, BRK.B) reported second-quarter after-tax operating earnings of $10 […]<\/p>\n","protected":false},"author":1,"featured_media":31607,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-45397","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nBerkshire Hathaway, Sage, Tyson Foods, Sovos, Lucid, and More Market Movers | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Stock futures traded higher Monday as Wall Street comes off a losing week and turns its attention to U.S. inflation and how the data will influence the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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