Stocks making the biggest moves midday: Tesla, Berkshire Hathaway, PayPal, Cinemark and more

cnbc.com:

In this article

Check out the companies making headlines in midday trading.

Tesla – The electric vehicle stock dropped nearly 3% after announcing the departure of its chief financial officer, Zach Kirkhorn. Tesla said it appointed Vaibhav Taneja to the position. Taneja will hold the role concurrently with his position as chief accounting officer.

BioNTech – U.S.-traded shares of the biotech firm slipped 9.1% after BioNTech reported disappointing revenue in the second quarter. The company earned €168 million in revenue, while analysts polled by Refinitiv expected €672 million.

Tyson Foods – Shares fell about 6% after a fiscal third-quarter earnings miss. The company reported adjusted earnings of 15 cents per share on $13.14 billion in revenue, while analysts polled by Refinitiv forecasted earnings of 26 cents per share and $13.59 billion in revenue.

Berkshire Hathaway – Shares of Warren Buffett's conglomerate rallied to a record high as investors cheered a strong quarter as well as its near-record cash hoard. Class A shares climbed more than 3% to hit an all-time high of $551,387.00 on an intraday basis, exceeding the conglomerate's previous high from March 2022. Class B shares of Warren Buffett's conglomerate rose about 3.4%, putting them on track to close at a record high.

Viatris – The pharmaceutical company added 6.6% after an earnings beat. The company reported adjusted net income and revenue that beat expectations for the second quarter. Viatris reported revenue of $3.92 billion, while analysts polled by StreetAccount called for $3.86 billion.

DaVita – The kidney dialysis services stock added 5.3% after UBS upgraded shares to buy from neutral on Monday. Analyst Andrew Mok cited stronger patient growth as a driver.