Business

Chevron, QuantumScape, Verizon & more


Check out the companies making headlines in after-hours trading on Tuesday.

Verizon – Shares of the telecommunications giant were up 2% in after-hours trading after Warren Buffett’s Berkshire Hathaway revealed a big stake in Verizon. As of Dec. 31, Berkshire Hathaway owned 146,716,496 Verizon shares worth $8.6 billion at the end of 2020.

SolarEdge – Shares of the solar-inverter maker gained more than 4% following the release of the company’s fourth-quarter earnings results. SolarEdge earned 98 cents per share excluding items on $358.1 million in revenue. Analysts surveyed by FactSet expected the company to earn 66 cents per share on $355.5 million in revenue.

Chevron – The oil giant’s shares rose 2% in extended trading after Berkshire Hathaway also revealed a stake in the energy company. The conglomerate purchased more than 40 million Chevron shares during the fourth quarter, according to a regulatory filing.

QuantumScape – The battery company’s shares gained 5% after QuantumScape released its first quarterly report since going public in November. The company said it lost $2.41 per share. There were too few estimates to have a Street consensus for the quarter. The company said in a letter to shareholders it believes it has “sufficient funding … to fund us through first production.”

—CNBC’s Rich Mendez contributed reporting.

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