Billionaire investor Warren Buffett and his Berkshire Hathaway Inc were back making headlines in pre-market trade Tuesday.
Lee Enterprises Inc (NYSE:LEE) shot up almost 40% before the New York bell to US$3.30 each after it revealed a tie-up with BH Media Group Inc (owned by Berkshire) to manage Berkshire's newspaper and digital operations in 30 markets. Buffett said the two firms' missions "matched exactly".
It means Lee will be able to implement revenue initiatives and other strategies in keeping with its own newspaper business.
BH Media owns 30 daily newspaper and digital operations, including the Winston-Salem Journal, the Richmond Times Dispatch and Tulsa World.
Berkshire Hathaway (NYSE:BRK) shares were unchanged in pre-market at US$284,640.
Also, in before the bell trading, Lennar Corp (NYSE:LEN) shares surged 8.70% to US$53.50 after the property group beat consensus for second quarter revenues.
Revenue for the three months came in at US$5.46bn (up 67% on last year) and against the consensus estimate of US$5.11bn.
EPS (earnings per share) was US$1.58 against US$0.45 reported last year.
Legendary motorcycle firm Harley-Davidson Inc (NYSE:HOG) was back piquing news interest this morning and saw shares add 0.63% to US$41.83 in pre-market deals.
Shares in the firm slumped nearly 6% on Monday as it said that in response to the EU tariff increases (after US government moves), it would begin making plans to shift production of its bikes for European markets, to international plants - a move which President Trump has slammed.
Harley reckons the cost of EU tariffs to be about US$2,200 (£1,658) per bike it exports to the EU.
"Surprised that Harley-Davidson, of all companies, would be the first to wave the White Flag," Trump said in a tweet.
Trump threatens Harley-Davidson with a 'big tax' if they move out of the US https://t.co/pIbRlZD1aY pic.twitter.com/8vqgeq7Efj
— Business Insider (@businessinsider) 26 June 2018
General Electric Company (NYSE:GE) shares added 5.80% to US$13.50 in pre-market, having shed 2.30% to US$12.75 yesterday, after the struggling conglomerate confirmed that it was planning to spin off its healthcare division and sell its stake in oil services titan Baker Hughes (NYSE: BHGE).
Finally, Intel Corp (NASDAQ:INTC) shares shed 1.91% to US$49.74 after Nomura Instinet downgraded the tech group to neutral from buy.