These are the stocks moving in after hours on Monday, May 15th, 2023.
Berkshire Hathaway released its 13F filing showing the conglomerate bought shares of financial firm Capital One (COF) in the first quarter, buying up 9,922,000 shares. COF is up more than 5% in after hours.
As regional bank stocks have been volatile amid recent banking turmoil, Berkshire’s Warren Buffett continues to prefer major lender, Bank of America.
“We’re very cautious… about ownership of banks and we do remain with one bank… I like Bank of America and I like the management,” Buffett said at the shareholder gathering in Omaha, Nebraska.
Beam Global shares jumped 11% after first quarter revenue jumped 245% to $13 million, beating consensus estimates of $8.34 million.
The revenue jump resulted primarily from growth in deliveries to federal agencies. The provider of products and technologies for electric vehicle (EV) charging also generated $1.8 million from its energy storage sales.
Beam CEO Desmond Wheatley said, “the first quarter wasn’t just the best quarter in our history, it was better than any full year except 2022.”
Beam posted a loss per share of 38 cents, narrower than the 45 cent loss expected by Wall Street.
Tesla will hold its annual shareholder meeting on Tuesday at its Austin, Texas, gigafactory. Shareholders will be voting on five proposals, including executive pay.
Investors expect Tesla CEO Elon Musk to dedicate more time to the EV giant now that he has announced Linda Yaccarinoa as the new chief executive officer for Twitter, the social media company he bought last year for $44 billion.
Musk recently tweeted, “Bringing on Linda allows me to devote more time to Tesla, which is exactly what I will be doing!”
Ines is a senior business reporter for Yahoo Finance. Follow her on Twitter at @ines_ferre