Highlights of the day: 8 August

FinMeUp highlights of the day

South Africa

BHP Group Limited 

• BHP has announced a non-binding indicative proposal to acquire 100% of the issued share capital in OZL Minerals
• BHPs Proposal to acquire all of OZLs shares for cash consideration of A$25.00 per share, represents a compelling value proposition for OZL shareholders.
• This offer represents a premium of 32.1% to OZLs closing price of A$18.92 per share on 5 August 2022.

The U.S

Berkshire Hathaway

• Warren Buffets Berkshire Hathaway took a $66.9B hit on the value of its investments in the quarter, giving it a net loss of $43B during quarter 2.
• The equity portfolio is now worth $327.7B, down from $390B at the end of quarter 1.

Robinhood

• Robinhood are to pay $9.9M to settle lawsuits over the 2020 outages.

Blackrock

• BlackRock CEO, Larry Fink sold 44.5k shares of its stock last week at an average price of $683.6 per share, with a total value of around $30M before taxes.

Palantir earnings

• EPS of -$0.01 missing expectations of $0.03.
• Revenue of $473M beating expectations of $471.34M
• Palantir expects to be profitable by 2025, according to CEO Alex Karp.

Tesla

• Tesla has agreed to a deal with the Indonesian government that will secure them around $5B worth of nickel.

Pfizer

• Pfizer has agreed to acquire Global Blood Therapeutics for $68.50 per share in cash, valuing Global Blood Therapeutics at around $5.4B.

Nvidia

• Nvidia has reported preliminary Q2 revenue of $6.70B, below its outlook of $8.10B.
• The stock price is currently down around 7% following the news.

Biggest winners and losers

JSE

• Alphamin Resources +8.80%
• Karooooo -3.23%

U.S

• Tesla +2.30%
• Nvidia -4.48%

Crypto

• Bitcoin +4.4%
• Ethereum +5.5%
• BNB +3.3%