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 analyst cited valuation, incrementally positive trends in dynamic random-access memory, or DRAM, pricing and growing demand for high-bandwidth memory. Spirit Airlines — The discount carrier slid 9% after posting a loss of $1.46 per share in the first quarter, wider than a FactSet consensus estimate from analysts of a $1.45 loss per share. 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. Paramount — Shares popped 3.3% following a report that the owner of Paramount Pictures and CBS Entertainment Group began formal acquisition negotiations with a group led by Sony Pictures Entertainment and Apollo . Elsewhere, Warren Buffett said over the weekend that he sold the entire Berkshire stake in Paramount at a loss. United States Steel — The Pittsburgh-based steelmaker saw its shares rise more than 2% after Morgan Stanley upgraded it to overweight from equal weight. U.S. Steel shares have room to rise …
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[mwai_chat context=”Let’s have a discussion about this article:nnCheck 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 analyst cited valuation, incrementally positive trends in dynamic random-access memory, or DRAM, pricing and growing demand for high-bandwidth memory. Spirit Airlines — The discount carrier slid 9% after posting a loss of $1.46 per share in the first quarter, wider than a FactSet consensus estimate from analysts of a $1.45 loss per share. 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. Paramount — Shares popped 3.3% following a report that the owner of Paramount Pictures and CBS Entertainment Group began formal acquisition negotiations with a group led by Sony Pictures Entertainment and Apollo . Elsewhere, Warren Buffett said over the weekend that he sold the entire Berkshire stake in Paramount at a loss. United States Steel — The Pittsburgh-based steelmaker saw its shares rise more than 2% after Morgan Stanley upgraded it to overweight from equal weight. U.S. Steel shares have room to rise …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
