logo-loader

PRE-MARKET MOVERS: Teva Pharmaceutical boosted as Buffett's Berkshire Hathaway buys in again; Verastem down

Retailer Macy's Inc and Micron Technology Inc are also in focus before the New York bell

1526471791_WarrenBuffet_353934110.jpg
Pictured is the Sage of Omaha, Warren Buffett

US futures are now pointing higher and before the bell, Israel-based pharma giant Teva Pharmaceutical  Industries Ltd (NASDAQ:TEVA) is up 4.68% to US$21.25.

It comes after a regulatory filing from Warren Buffett's Berkshire Hathaway (NYSE:BRK) revealed the latter had nearly doubled its stake in the company during the first quarter.

Berkshire has added 21.6mln more shares of Teva, bringing its entire stake to 40.54mln shares. It also boosted its stake in Apple (NASDAQ:AAPL) and agri-giant Monsanto Company (NYSE:MON).

Elsewhere, Macy's Inc (NYSE:M) shares are up 0.23% to US$30 ahead of the bell and ahead of quarterly earnings, in which analysts expect to see US$0.35 per share on revenue of US$5.39bn before the opening bell.

Micron Technology Inc (NASDAQ:MU) shares are up 1.5% to US$54.82 in pre-market deals after RBC Capital started the stock with an 'outperform' rating.

Yesterday, Stifel analyst Kevin Cassidy raised his price target on the stock to US$101 from US$95. The new target is reportedly the highest on Wall Street, and represents more than 90% upside from current levels.

Meanwhile, Verastem Inc (NASDAQ:VSTM) shares plunged 9.73% to US$4.73 before the bell. It came as the firm unveiled a US$35mln stock offering.

Arbor Realty Trust (NYSE:ABR), the real estate investor, saw shares plunge over 4% to US$8.93 after-hours after the mortgage lender also announced a public offering of shares.

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Weekend Unlimited expects to grow their business "organically"

Weekend Unlimited (CSE: POT) CEO  Chris Backus sat down with Steve Darling from Proactive Vancouver to bring news the company is going full steam ahead with their hemp asset Northern Lights. Backus talks about what is happening to ensure they become leaders in the sector. Backus also...

49 minutes ago

2 min read