Activision Blizzard, Bilibili, Moody’s and more
Here are some top movers of the premarket.
Bilibili (BILI) – The China-based online gaming company’s stock slid 4.2% in the premarket after Jefferies cut its price target to $51.30 from $61.50 per share, citing Bilibili’s recent cut in its revenue outlook due to the resurgence of Covid cases in China.
Moody’s (MCO) – The credit ratings company missed estimates by a penny a share, with quarterly profit of $2.89 per share. The revenue was somewhat higher than analysts expected. Moody’s reduced its full-year revenue outlook in light of its expectations for market volatility. Stock fell 3.6% beforemarket.
Global Payments (GPN) – The payments technology company reported quarterly profit of $2.07 per share, beating estimates by 3 cents a share. The revenue also exceeded analysts’ expectations. It also stated that it was making significant progress in its strategic review of Netspend’s consumer business.
Berkshire Hathaway (BRK.B) – Berkshire posted a mixed quarterThe first quarter earnings exceeded Wall Street estimates. However, revenue was below Wall Street’s expectations. Due to the stock market turmoil and an increase of insurance claims, earnings were lower than a year earlier.
HSBC (HSBC) – HSBC is under pressure from its largest shareholder — China-based insurance company Ping An – to break itself up, according to a source familiar with the matter who spoke to Reuters. Ping An is believed to have submitted its plans for bankruptcy to the board.
Moderna (MRNA) – Moderna said its Covid-19 vaccine for children under 6 years oldWhen the panel meets in June, it will have all of its information ready to be reviewed by the Food and Drug Administration. Moderna filed for an emergency use authorization for this treatment last week.
China EV Makers – Li Auto(LI). NioBoth (NIO and Rival) reported that April delivery fell compared with a year earlier. This was due to the fact that production suffered from Covid’s resurgence in China. Rival XpengHowever, (XPEV) reported an increase of deliveries in April 2021. Li Auto declined 1.7% on the premarket, while Nio fell 2%.