Walmart, Citigroup, Paramount and more

Exterior view of a Walmart store on August 23, 2020 in North Bergen, New Jersey

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Check out the companies that own the noon trade.

Walmart – Shares fell about 10.5% after big boxer retailers lost significant expectations on Wall Street after reporting quarterly earnings. Walmart posted first-quarter earnings of $ 1.30 per share with revenue of $ 141.57 billion. Analysts had expected a profit of $ 1.48 per share with revenue of $ 138.94 billion, according to Refinitiv’s consensus estimates. Walmart cited cost pressures as a result of rising fuel prices, higher inventory levels and overstaffing.

Citigroup – Bank shares rose roughly 8.2% in a regulatory filing with Warren Buffett’s Berkshire Hathaway adding more than 55 million shares in the first quarter to build a $ 2.95 billion stake. Citi’s shares have performed poorly in the financial sector over the past 12 months and are still down 15% this year.

Paramount Global – Paramount shares rose nearly 14% after Berkshire Hathaway unveiled a $ 2.6 billion stake in the media company. By the end of the quarter, the media company was Berkshire’s 18th largest stake.

Shares of United Airlines – Aircraft carriers rose more than 7% after the Federal Aviation Administration allowed 52 Boeing 777s to fly again after landing due to engine failure. Aircraft represent 10% of United’s capacity. United has said it plans to return the aircraft gradually this month.

Take-Two Interactive Software – Shares rose 12.3%, despite a clear guide to the video game company’s reserve measure. Analysts expect a better forecast after the company closes pending a Zynga acquisition. – China’s e-commerce giant’s shares gained about 2% after the company surpassed its revenue estimates for its last quarter, despite seeing slowing growth as the Covid-19 blockchain weighed on consumer spending. Revenue was 239.7 billion Chinese yuan, up 18% from the previous year, compared to expectations of 236.6 billion yuan, according to Refinitiv.

Tencent Music Entertainment – US online entertainment platform shares fell more than 3%. Tencent Music had quarterly revenue of 6.64 billion yuan, down 15% on the previous year.

AMD – Semiconductor shares rose 8.7% after Piper Sandler upgraded its Advanced Micro Devices from neutral overweight and said shares could rise nearly 50% after plunging this year.

Business Day – Shares fell 1.8% after UBS downgraded its stock of HR software to a neutral valuation of the purchase. The company said Workday could hit hard in an economic downturn.

Maxar Technologies – Space shares fell nearly 2% after Bank of America downgraded Maxar from neutral to neutral. The bank said it expects revenue and lower margins from the satellite imagery company to move forward.

Molson Coors – Beverage stock fell more than 2% after Bernstein downgraded. The investment firm said Molson Coors ’recovery business has made its way through and has outperformed its rating in market performance.

– CNBC’s Yun Li, Jesse Pound, Sarah Min, Samantha Subin and Tanaya Macheel contributed to the report.

Walmart, Citigroup, Paramount and more

Source link Walmart, Citigroup, Paramount and more

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