The market for stocks was able to maintain its gains on Monday, recovering earlier losses, with the Nasdaq leading the way, finishing with a gain of 0.62% to 13,128.05.
The following stocks are currently leading Editorials99 Finance’s after-hours trending tickers:
Apple (AAPL), Activision Blizzard (ATVI), and Ally Financial (ALLY) are three of the most popular stocks today. According to a regulatory document known as a 13F, Berkshire Hathaway increased its holdings in the companies Apple, Activision Blizzard, Ally Financial, Paramount Global (PARA), and Celanese (CE). The addition of around 3.9 million new Apple shares brings Berkshire’s overall holdings in the world’s most valuable technology company to approximately 895 million shares. Apple, Bank of America (BAC), and American Express were Berkshire’s three largest holdings at the end of the second quarter (AXP). The multinational company divested itself of its holdings in Verizon (VZ).
Tencent Music Entertainment (TME): Tencent Music’s revenue in China increased by 3.9% compared to the previous quarter. This growth was driven by an increase in the number of paying subscribers. The number of paying customers reached 82.7 million, which is a 24.9% increase from the previous year’s figure. This drove sales for the quarter to a total of $1.03 billion. The number of mobile monthly active users (MAUs) of online music came in at 593 million, which fell short of the forecast of 604.8 million held by industry analysts, while the number of MAUs for social entertainment services decreased by 21% year over year.
The weakening of the labour market caused ZipRecruiter (ZIP), a job search engine, to reduce its revenue projection for the whole year. In the earnings release, the company’s chief executive officer, Ian Siegel, stated that “While the quarter was good, in June we began to notice symptoms of a cooling hiring climate.” The company’s second-quarter results exceeded the expectations of Wall Street, with earnings per share of 11 cents on revenues of $239.9 million, which was an increase of 31% from the previous year. ZipRecruiter has revised its full-year revenue projection, which was previously in the range of $908 million to $922 million, to now be in the $833 million to $897 million range.
Compass (COMP): Following the announcement of a larger loss for the second quarter, shares of the real estate brokerage company plummeted in trading conducted after regular business hours. The company reported a loss of 24 cents per share on revenue of $2.02 billion, which is a 4% increase over the previous year. According to the CEO of the company, Robert Reffkin, the company has also announced a new cost reduction programme that is expected to result in savings of approximately $320 million. This decision was made in response to “the challenges the real estate market has faced so far this year and the likelihood that this difficult environment will continue for the likelihood that this difficult environment will continue for the forseeable future.” During the period in question, the number of total transactions increased by 2%, but the Gross Transaction Value (GTV) stayed unchanged. This was due to a 2% decline in the Average Transaction Value.