Stocks were rising Monday, extending last week gains, as a weaker-than-expected U.S. jobs report boosted prospects for an interest-rate cut from the Federal Reserve.
Warren Buffett’s
reported a 39% increase in first-quarter operating profit to a record $11.2 billion, boosted by strength in the company’s property and casualty insurance business and higher investment income. The conglomerate also reduced its massive stake in
by about 13% to 790 million shares, according to Barron’s calculations based on information in Berkshire’s 10-Q report released Saturday in conjunction with the earnings. Berkshire’s class B shares rose 0.3%.
rose 4.9% to $120.28. Analysts at Baird upgraded shares of the memory chip maker to Outperform from Neutral and raised their price target to $150 from $115.
was up 3.1% after the electric-vehicle maker added a long-range, rear-wheel drive Model Y to its website that gets about 320 miles of range per charge. The car starts at about $45,000. Before the update, the rear-wheel drive Model Y got about 260 miles per charge and started at about $43,000.
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was falling 0.7% to $182.16. Shares of the tech giant closed with a gain of 6% on Friday, the stock’s best post-earnings reaction since Oct. 28, 2022, when it rose 7.6%, according to Dow Jones Market Data. The iPhone maker on Thursday reported fiscal second-quarter earnings that were better than expected.
received a “Wells Notice” from the Securities and Exchange Commission which recommended enforcement action against the trading platform’s cryptocurrency unit. The stock was up 0.4% after falling in premarket trading.
fell 7.8% even after the meat producer posted better-than-expected fiscal second-quarter earnings as the company’s chicken segment pivoted to a profit of $158 million from a loss of $258 million a year earlier.
was rising 53% to $73.49 after the digital consultancy reached a deal to be acquired by Swedish private-equity firm
for about $3 billion including debt. EQT will pay $76 a share, a 58% premium to
Perficient
’s
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closing price of $48.11 on Friday.
U.S.-listed shares of
were up 4.7% after the Chinese electric-vehicle maker reported strong orders for its L6 Model, the first model priced under 300,000 yuan, or roughly $42,000.
Earnings reports are expected after the closing bell Monday from
and
was rising 5.7% ahead of its first-quarter earnings, scheduled for after stock markets close Monday. A focus for Wall Street will be the data analytics software company’s continued push into artificial intelligence. Palantir was rising 2.4% in premarket trading.
Earnings reports are expected later in the week from
BP
,
Ferrari
,
Datadog
,
Toyota
,
Uber
,
Airbnb
,
Shopify
,
Li Auto
,
Roblox
,
Enbridge
,
and
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Write to Joe Woelfel at joseph.woelfel@barrons.com