Chevron, QuantumScape, Verizon & more
Check out the companies making headlines in retail out of business hours on Tuesday.
Verizon – The telecommunications giant’s shares rose 2% in after-hours trading after Warren Buffett’s Berkshire Hathaway announced a large stake in Verizon. As of December 31, 2020, Berkshire Hathaway owned 146,716,496 Verizon shares valued at $ 8.6 billion.
SolarEdge – Shares in the solar inverter maker rose more than 4% following the company’s fourth quarter earnings release. SolarEdge made 98 cents per share of closed items on sales of $ 358.1 million. Analysts polled by FactSet expected the company to make 66 cents per share on sales of $ 355.5 million.
Chevron – The oil giant’s shares rose 2% in expanded trading after Berkshire Hathaway also announced a stake in the energy company. The conglomerate bought more than 40 million Chevron shares in the fourth quarter.
QuantumScape – The battery company’s shares rose 5% after QuantumScape released its first quarterly report since going public in November. The company said it lost $ 2.41 per share. There were too few estimates to reach street consensus for the quarter. In a letter to shareholders, the company stated that it had “sufficient financial resources … to finance us through initial production.”
– CNBC’s Rich Mendez contributed to the coverage.
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