Buffett’s Stake Propels This Stock

Good morning Wake-Up Watchlisters! While you’re sipping that first cup of mezzo mezzo you’ll see stock futures rose Tuesday after risk appetite returned following weeks of uncertainty. Equities also got a boost after data showing the euro-area economy expanded more than estimated early in 2022.

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Here’s a look at the top-moving stocks this morning.

Paramount Global (Nasdaq: PARA)

Paramount Global is up 9.56% premarket after it was revealed Berkshire Hathaway CEO Warren Buffett acquired almost 69 million shares in the first quarter. Buffett bought after seeing subscriber gains from Paramount’s streaming service, Paramount+. Keep an eye on Paramount Global going forward.

Take-Two Interactive (Nasdaq: TTWO)

Take-Two Interactive is up 6.95% premarket after the company came out with quarterly earnings of $1.16 per share, beating the Zacks Consensus Estimate of $1.01 per share. The quarterly report represents an earnings surprise of 14.85%. A quarter ago, Take-Two delivered an earnings surprise of 29.20%. Take-Two is looking strong.

Pinterest (NYSE: PINS)

Pinterest is up 5.63% premarket as the stock appears to be bottoming out as its down 40% for the year overall. Pinterest’s monthly users declined 9% year over year to 433 million, but revenue is still on the rise as the company benefits from more advertiser activity. Keep an eye on Pinterest going forward.

Twitter (NYSE: TWTR)

Twitter is down 2.59% premarket after Elon Musk cast more doubt over finalizing a deal to buy the social media giant. Musk says Twitter must show proof that less than 5% of its users are bots, and wouldn’t do the deal until then. Since revealing a 9.2% stake in the company, Musk has shown typical erratic behavior. With so much uncertainty, Twitter has given back all of the gains its made since Musk’s disclosure. Twitter is looking volatile going forward.

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Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team