Check out the companies making headlines over the long term. Chubb — Shares of the property and casualty insurance company rose nearly 6% after Berkshire Hathaway announced it had purchased nearly 26 million shares of the Zurich-based company for $6.7 billion. Chubb became Berkshire’s ninth-largest holding at the end of March, according to a new regulatory filing. AST SpaceMobile — Shares soared 33%. AST SpaceMobile has announced a commercial agreement with AT&T to connect space-based broadband networks directly to everyday mobile phones. AT&T shares were little changed. The company also reported a first-quarter loss of 16 cents per share, below expectations, compared with a loss of 23 cents per share in the same period last year. Cisco Systems — The IT giant reported fiscal third-quarter adjusted earnings of 88 cents per share on revenue of $12.7 billion, sending its shares up nearly 5%. The results beat analysts’ expectations for earnings of 82 cents per share on revenue of $12.53 billion, according to LSEG. B. Riley Financial — Shares of the Los Angeles-based middle-market investment bank fell 2% after losing $1.71 a share in the first quarter, reversing a net profit of 51 cents a year earlier. Riley, which received a default notice from Nasdaq in March, maintained its quarterly dividend at 50 cents per share after cutting it in half in February. HAWKINS — The Minnesota-based chemical maker’s shares fell 6% as its fiscal fourth-quarter sales fell 2% from a year earlier. Management issued a warning about its industrial business over the next 12 months, saying “We are cautiously optimistic about the industrial segment, but we believe economic and competitive pressures will continue to weigh on many of our customers and impact demand.” Palo Alto Networks — Shares of the cybersecurity company rose 1% after the company announced it would buy cloud security software assets from IBM. The move is part of a broader partnership that gives Palo Alto access to more advisors and a larger client base. IBM shares were little changed. —CNBC’s Scott Schnipper contributed reporting
