Movers: Activision, Global Payments, Hub Group, Moody's, National Instruments. Spirit Airlines

Barry Adams
02 May, 2022
New York City

Activision Blizzard, Inc jumped 2.8% to $77.75 after Warren Buffett controlled Berkshire Hathaway reported 9.5% stake in the company in the hope that Microsoft will be able to complete its merger offer at $95 a share or $69 billion. 

Global Payments declined 9.5% to $123.85 after the company reported first quarter 2022 revenues increased 8% to $2.16 billion and diluted earnings per share increased to 87 cents from 66 cents a year ago. 

The software company also lifted its 2022 revenues between $8.42 billion and $8.50 billion and adjusted earnings per share between $9.45 and $9.67.  

HSBC Holdings plc traded down 2% in New York but gained 4% in London after China controlled an insurance company and the largest shareholder in the bank proposed a plan to break the company up. 

Ping An, the Chinese insurance giant proposed a plan to separate its Asian business from European and U.S. and said that the global network outside Asia adds little incremental value. 

Hub Group gained 6.7% to $71.72 after the transportation management company reported revenues in the first quarter 41% to $1.3 billion. 

In the quarter, net income increased to $88 million or $2.58 a share from $17 million or 51 cents a share. 

The company also guided 2022 revenues between $5.3 billion and $5.5 billion and diluted earnings per share between $9.00 and $10.00. 

Moody's Corp declined 4.4% to $301.10 after the rating agency reported quarterly profit per share of $2.89 and lowered its annual revenues outlook on the continued market volatility. 

National Instruments declined 4.5% to $34.50 after quarterly revenues rose 15% to $385 million and earnings per share rose to 19 cents from 3 cents a year ago. 

The instrument maker guided 2022 earnings per share in the range between 1 cent and 15 cents. 

Spirit Airlines declined 8.8% to $21.50 after the company rejected a takeover proposal from JetBlue and the company confirmed its plan to merge with rival budget airline Frontier. 

The move was widely anticipated by investors and the company's board cited antitrust reasons in rejecting the takeover overtures.