A man passes a Hewlett-Packard display at a technology conference
Jim Young | Reuters
Check out the companies that made headlines in the midday transaction.
HP – Warren Buffett has become the largest shareholder in Berkshire Hathaway Computer Hardware Company, increasing its stake by 16.4%. Berkshire Hathaway bought about 121 million shares, or about 11% of the stock, valued at about $ 4.2 billion, based on Wednesday’s close.
Shares rose 6.2% after food processing company Lamb Weston Holdings reported quarterly earnings. Lamb Weston showed a profit of 73 cents per share, surpassing the consensus estimate of 44 cents. It reported revenue of $ 955 million, compared to analysts’ estimates of $ 969 million.
The stock jumped 4.3% after constellation brands – beer, wine and spirits reported an earnings beat. The constellation saw earnings per share of $ 2.37 and earnings of $ 2.1 billion. Analysts had expected আয় 2.10 earnings per share and $ 2.02 billion earnings.
JD.com – Shares fall 4% on news of founder Richard Liu’s resignation as CEO. Liu will be in the chair. Xu Lei, president of the company, will take over as CEO.
Levi Strauss – Shares are down nearly 5% despite better than expected Levi’s quarterly report. The jeans maker posted a quarterly profit of 46 cents per share on its 1.59 billion earnings. Analysts looked at earnings of 42 cents per share over 1.55 billion. Levy says supply chain constraints have hurt sales by about $ 60 million in recent times.
Costco – The Big-Box retail chain jumped 3.2% a day after reporting strong sales in the same store in March, up 17.2% in the last five weeks ending April 3.
Shares rose 11.4% after CDK Global – an automated retail technology provider – agreed to acquire Brookfield Business Partners on a 8.3 billion deal. CDK Global shareholders will receive $ 54.87 per share in cash, a premium of 12% of Wednesday’s closing price for CDK.
Ford – The automaker lost 5.2% after dropping the Barclays Ford from excess weight to equal weight. The ongoing semiconductor shortage will prevent Ford from re-launching after a fair start in 2022, Barclays said in a note addressed to clients.
– CNBC’s Hannah Miao and Jesse Pound contributed to the report.