Stocks Making the Greatest Movements Premarket 05/08

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Last Updated on May 8, 2023 by Bitfinsider

PacWest — The regional bank gained 39% in premarket trade, adding to its Friday gain of over 82%. PacWest stated that its business is “fundamentally sound” and reduced its dividend by only one penny per share.

Occidental Petroleum — The energy stock fell less than 1% in premarket trading after Warren Buffett stated that Berkshire Hathaway did not intend to acquire complete control of the oil major. The “Oracle of Omaha” holds a 23.5% ownership in the company and has been granted permission to purchase up to 50% of it.

Berkshire Hathaway — The B shares of the conglomerate surged 1.4% in premarket trading after Buffett’s company announced a 12.6% increase in operational profitability in the first quarter. A resurgence in the conglomerate’s insurance division drove the good performance. Overall earnings increased significantly, owing in part to gains in its equities portfolio, headed by Apple.

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