Take a look at some of the biggest drivers in the crypto market:
Activision Blizzard (ATVI) – Activision stock jumps 2.7% in pre-market trading after Warren Buffett says Berkshire annual meeting that the company has increase its shares in the video game maker.
Bilibili (BILI) – Shares of the China-based online gaming company fell 4.2% in money markets after Jefferies cut its price target to $51.30 from $61.50 per share shares, citing Bilibili’s recent cut in its revenue outlook due to the resurgence of Covid cases in China.
Moody’s (MCO) – The credit rating company missed estimates by one cent a share, with quarterly earnings of $2.89 per share. Revenue was slightly higher than analysts had predicted. Moody’s also cut its full-year revenue outlook on expectations the market will continue to be volatile and the stock fell 3.6% in money markets.
Global payments (GPN) – The payments technology company reported quarterly profit of $2.07 per share, beating estimates by 3 cents per share. Revenue also topped analyst forecasts. The company also said it is making progress with a strategic review of its Netspend consumer business.
Berkshire Hathaway (BRK.B) – Berkshire posted a mixed quarter, with first-quarter earnings beating estimates as revenue fell short of Wall Street forecasts. Earnings were down from a year ago due to stock market turmoil and a surge in insurance claims.
HSBC Bank (CNN) – HSBC is under pressure from its largest shareholder – China-based insurer Ping An – to break up on its own, according to a source close to Reuters. Ping An is said to have presented the breakup plan to the bank’s board of directors.
Moderna (MRNA) – Moderna says its Covid-19 Vaccines for children under 6 years old will be available for review by the Food and Drug Administration committee when it meets in June. Moderna applied for an emergency use authorization for the treatment last week.
Electric vehicle manufacturers in China – Li Auto (LI) and Nio (NIO) all reported a drop in shipments in April from a year ago, saying manufacturing activity had been affected by the Covid resurgence in China. Competitor Xpeng (XPEV), however, reported increased deliveries compared to April 2021. Li Auto fell 1.7% in the money market while Nio lost 2%.
