Check out the companies making headlines in midday trading: Berkshire Hathaway — Class A shares added 0.6% following the release of first-quarter results and the annual shareholders meeting on Saturday. Berkshire posted a 39% yearly jump in operating profit, while cash holdings are approaching $200 billion. Micron Technology — The Boise, Idaho-based semiconductor company jumped 4.5% following an upgrade from Baird to outperform from neutral.
The discount carrier slid 9% after posting a $1.46 cent per share loss in the first quarter, wider than a FactSet consensus estimate from analysts of a $1.45 per share loss. Revenue matched expectations. Spirit also forecast second-quarter revenue between $1.2 billion and $1.34 billion, below a FactSet estimate of $1.46 billion.The Pittsburgh-based steelmaker saw its shares rise more than 2% after Morgan Stanley upgraded it to overweight from equal weight. U.S.
Shares dropped nearly 7% after a major tenant of the company's, the physician-owned hospital operator Steward Health care, filed for Chapter 11 bankruptcy.The food processor saw its shares drop 6% after posting revenue of $13.07 billion in its fiscal second-quarter, short of the $13.15 billion expected by analysts polled by StreetAccount. Tyson also reported earnings of 62 cents per share, beating estimates of 39 cents per share.
Shares of the eye health stock popped 4.4% on the back of a Morgan Stanley upgrade to overweight from equal weight. Morgan Stanley said the market is likely overlooking the Canadian-based company's progress on improving core profit margins.The Chinese electric vehicle maker gained 2.3% after reporting strong orders for its L6 vehicles. In the April 18 to to May 5 period, orders for L6 vehicles exceeded 41,000, according to a Weibo post.
Shares of Victoria's Secret was almost 2% higher after opening about 0.4% lower. Morgan Stanley downgraded the intimate apparel maker to underweight due to expectations for negative EPS revisions. The Wall Street bank also trimmed its price target.
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