24H|Pool Jumps 5%; NetEase Gains Another 1%; CAVA Drops 4%; Doximity Sinks 21%; Globant Plunges 25%

Tiger Newspress
16 May

Warren Buffett's Berkshire Hathaway said on Thursday it more than doubled its stake in alcoholic beverages producer Constellation, while exiting Citigroup and Nubank, cutting Bank of America. Berkshire bought more Sirius XM and Occidental shares in the first quarter. It also has added 865,311 shares of Pool to their portfolio In addition, the company requested confidentiality treatment from the Securities and Exchange Commission.

U.S.-listed shares of NetEase surged 14.6% on Thursday as the Chinese internet and game services provider reported first-quarter results above analysts' estimates. The shares gained another 1.3% in overnight trading.

Mediterranean restaurant chain CAVA Group shares fell 4.1% in overnight trading. Cava’s full-year guidance for adjusted  earnings before interest, taxes, depreciation and amortization, or EBITDA, came in at $152 million to $159 million, short of the FactSet consensus call for $159.7 million. Revenue in the first quarter surpassed estimates, coming in at $332 million, versus the $327 million consensus estimate, per LSEG.

Doximity, the networking platform for health-care professionals saw its stock tank 21.3% in overnight trading on weak guidance. Doximity expects adjusted EBITDA to range between $71 million and $72 million, while StreetAccount consensus estimates sought $74 million. The company’s full-year outlook also missed expectations.

Globant SA shares tumbled 24.7% in overnight trading after the digital technology solutions provider reported first-quarter earnings that fell short of analyst expectations and issued disappointing guidance for the upcoming quarter and full year.

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