Check out the companies making headlines in the advanced commerce space. CHUBB — Shares of the property and casualty insurance company rose nearly 6% after Berkshire Hathaway said it bought nearly 26 million shares of the Zurich company for a $6.7 billion stake. Chubb became Berkshire’s ninth-largest holding at the end of March, according to new regulatory filings. AST SpaceMobile – Shares soared 33%. AST SpaceMobile announced a commercial agreement with AT&T that will make its space broadband network directly available to everyday mobile phones. AT&T shares were little changed. The company also reported a smaller-than-expected loss of 16 cents per share for the first quarter, compared with a loss of 23 cents per share in the same period last year. Cisco Systems – Shares jumped nearly 5% after the tech giant reported fiscal third-quarter adjusted earnings of 88 cents per share on revenue of $12.70 billion. The results beat analysts’ estimates, with earnings of 88 cents per share, according to LSEG. 82 cents per share on revenue of $12.53 billion. B. Riley Financial – The Los Angeles-based middle market investment bank fell 2% after losing $1.71 per share in the first quarter, changing net income from a year earlier to 51 cents. Riley, which received a notice of default from Nasdaq in March, kept its quarterly dividend at 50 cents per share after cutting it in half in February. HAWKINS — Shares of the Minnesota-based chemical maker fell 6% after fiscal fourth-quarter sales fell 2% from a year earlier. Management warned about its industrial business over the next 12 months, saying: “We are cautiously optimistic about our industrial segment, but 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 announcing it would buy cloud security software assets from IBM. The move is part of a broader partnership giving Palo Alto access to more consultants and a larger client base. IBM shares remained virtually unchanged. — CNBC’s Scott Schnipper contributed reporting.
