Check out the companies making headlines in pre-market trading. Berkshire Hathaway — Berkshire Hathaway’s Class A shares rose 1.2% in early trading on Monday after its operating profit rose 39% year over year. The Warren Buffett-led company’s cash holdings also rose to a record level, approaching $200 billion. PARAMOUNT — Shares of Paramount rose 2.4% on reports that the owner of Paramount Pictures and CBS Entertainment Group has begun formal acquisition talks with the Sony Pictures Entertainment and Apollo-led group. Warren Buffett, on the other hand, admitted over the weekend that he sold Berkshire’s entire stake in Paramount at a loss. Spirit Airlines – Shares of the discount airline fell 4% in premarket trading after the company reported a first-quarter loss of $1.46 per share, beating the FactSet analyst consensus for a loss of $1.45 per share. Revenues were in line with expectations. Spirit also forecast second-quarter revenue between $1.2 billion and $1.34 billion, below FactSet’s forecast of $1.46 billion. Li Auto — The Chinese electric car maker’s U.S. shares rose 6.7% on strong order data for its L6 model. Deliveries of the L6 first began last month. Tyson Foods — Tyson shares rose 2.1% after reporting second-quarter adjusted earnings of 62 cents per share, higher than the 39 cents per share expected by analysts polled by StreetAccount. On the other hand, revenue of $13.07 billion missed the consensus estimate of $13.15 billion. Starbucks — Shares rose 1% after former CEO Howard Shultz posted on LinkedIn that the coffee chain needs to fix its U.S. business and how. Starbucks last week reported quarterly profit and revenue that fell short of expectations. Victoria’s Secret — Underwear shares fell 5% in premarket trading. Morgan Stanley downgraded Victoria’s Secret to underweight and lowered its price target, citing expectations for lower earnings per share and a difficult second half for the specialty retail industry. EHang Holdings — Autonomous aircraft stocks rose 3.2% after Morgan Stanley initiated upbeat research coverage. The bank initiated an overweight rating on EHang, saying the company is “ready to take off” amid increasing regulatory and government support in China. United States Steel — Shares of United States Steel rose more than 2% after Morgan Stanley upgraded the Pittsburgh-based steelmaker to overweight from equal weight. Morgan Stanley said in a report that even if the Nippon Steel acquisition transaction fails, there is still room for U.S. Steel’s stock price to rise due to internal improvements. Coinbase – The cryptocurrency stock rose 2.4% after Barclays raised its price target, suggesting less downside for the stock going forward. The bank’s move comes after Coinbase reported better-than-expected earnings last week. Bausch + Lomb — The U.S.-listed Canadian eye care stock rose 2.9% after Morgan Stanley upgraded the U.S.-listed Canadian eye care stock to overweight from equal weight. The investment bank said the market may be overlooking Bausch & Lomb’s progress in improving core profit margins. Johnson Controls — The construction technology stock fell 1.1% after UBS downgraded its rating to neutral from buy. UBS said Johnson Controls lags behind peers and faces a difficult road to achieving its 2024 outlook. — CNBC’s Sarah Min, Tanaya Macheel, Jesse Pound, Michelle Fox and Samantha Subin contribute
