Berkshire Hathaway (BRK.B) – Berkshire saw operating profit drop by 23%
Wells Fargo (WFC) – Wells Fargo will pay $3 billion to settle fraudulent sales practices probes by the Securities and Exchange Commission and the Justice Department. The bank also said it will continue to cooperate with any ongoing investigations.
Goldman Sachs (GS) – Goldman Sachs units in Malaysia pleaded not guilty to misleading investors in the sale of $6.5 billion in bonds for the state-run 1MDB fund. The Justice Department has estimated that $4.5 billion was misappropriated from the fund between 2009 and 2014.
PepsiCo (PEP) – The beverage and snack giant agreed to buy China snack maker Be & Cheery from its Chinese owner Haoxiangni Health Food for $705 million.
Beyond Meat (BYND) – Beyond Meat and Impossible Foods
Intuit (INTU) – Intuit is near a deal to buy privately held credit-monitoring firm Credit Karma for about $7 billion in cash and stock, according to The Wall Street Journal. Intuit – the company behind TurboTax and QuickBooks – would operate Credit Karma as a standalone unit.
Blackstone (BX) – Blackstone said it would raise its bid for Japan hotel chain
Keurig Dr Pepper (KDP) – Morgan Stanley upgraded the stock to "equal-weight" from "underweight," following significant underperformance relative to peers like Coca-Cola (KO) and PepsiCo (PEP). The firm said the valuation now better reflects the company's growth and risk profile compared to rivals.
Aurora Cannabis (ACB), Tilray (TLRY) – Cowen downgraded the cannabis stocks to "market perform" from "outperform" due to its increasingly cautious outlook for cannabis sales in Canada. Cowen said