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Check out the companies making the biggest moves in premarket trading:
PacWest — The regional bank popped 39% in premarket trading, adding to its nearly 82% gain on Friday. PacWest said its business is «fundamentally sound» and cut its dividend by just 1 cent per share. Western Alliance gained about 11% while Zions Bancorp added nearly 6%.
Occidental Petroleum — The energy stock dipped less than 1% in premarket after Warren Buffett said Berkshire Hathaway doesn't plan on taking full control of the oil giant. The «Oracle of Omaha» has amassed a stake of 23.5%, while receiving approval to purchase up to 50% of the company.
Berkshire Hathaway — The conglomerate's B shares rose 1.4% in premarket after Buffett's company reported a 12.6% jump in operating earnings in the first quarter. The strong performance was driven by a rebound in the conglomerate's insurance business. Overall earnings also rose sharply thanks in part to gains in its equity portfolio, led by Apple.
Estee Lauder — Shares jumped 4.2% in premarket trading following a Sunday report from the New York Post that activist investor Nelson Peltz was contemplating a «possible shakeup» at the beauty products company. The campaign would reportedly target CEO Fabrizio Freda.
AMC — AMC slid 3% in the premarket after the movie theater chain said it reached an agreement to settle a shareholder class action against the conversion of AMC Preferred Equity Units into common company shares, as well as a reverse stock split. Investors approved the decision in March.
American Airlines — Shares gained about 3% in premarket trading Monday after JPMorgan upgraded the stock to overweight from neutral. Analyst Jamie Baker highlighted the company's attractive valuation
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