Big Stock Moves: Eli Lilly, Paramount Global, and Palo Alto Networks

In recent trading, Berkshire Hathaway has sold an additional 13.9 million shares of a bank, raising $550.7 million and reducing its stake to 11.9%. This follows a 12-day selling streak that began in mid-July. Meanwhile, the conglomerate has projected revenue between CNY 9.1 billion and CNY 9.8 billion, falling short of the FactSet consensus estimate of CNY 10.40 billion. In contrast, Palo Alto Networks provided strong guidance for its fiscal first quarter and year, boosting investor confidence. Lowe's experienced a 1.2% decline in its stock price after reporting second-quarter revenues that did not meet expectations, prompting the company to lower its full-year earnings per share and sales forecasts. Boeing's shares dropped approximately 4.2% amid concerns over structural damage found in one of its aircraft, raising questions about potential delays in the delivery of the 777X, scheduled for 2025. In positive news, Hawaiian Holdings and Alaska Airlines saw their shares rise 11.3% and 2.4%, respectively, after the U.S. Department of Justice approved their merger, which is valued at $1.9 billion. Fabrinet's stock surged nearly 10% following a strong earnings report, with adjusted earnings of $2.41 per share on revenue of $753 million, surpassing analyst expectations. Additionally, Amer Sports rallied 10.4% after reporting an earnings and revenue beat, along with an increase in its full-year guidance.