Hot Stocks: OXY rises as Buffett adds shares, SNOW pops on upgrade, KBH also gains and XENE declines

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In early market trading Occidental Petroleum Corporation (NYSE:OXY) trended to the topside after famed investor Warren Buffett grabbed additional shares of the stock. Also on the upside move is Snowflake Inc. (NYSE:SNOW), as J.P. Morgan upgraded the company.

Additionally, KB Home (NYSE:KBH) provided Wall Street with positive earnings data and forward guidance resulting in a push higher in the homebuilding stock.

Trading lower are shares of Xenon Pharmaceuticals (NASDAQ:XENE). XENE has dropped double digits after pricing a $250M equity offering.

Gainers

Occidental Petroleum Corporation (OXY) gained 3.5% after Warren Buffett’s Berkshire Hathaway (BRK.A) (BRK.B) purchased an additional 9.6M shares of the oil and gas giant. Berkshire now holds 152.7M shares of OXY.

Snowflake Inc. (SNOW) shares jumped 5.6% in premarket trading after J.P. Morgan upgraded the data warehousing company. Analyst Mark Murphy changed the stock to overweight from neutral and maintained the firm’s $165 price target on Snowflake.

KB Home (KBH) tracked higher in premarket trading as the stock rose 3.7% after a Q2 earnings beat and a reaffirmed FY 2022 guidance despite a moderating sales pace caused by higher mortgage rates and inflation.

Decliner

Xenon Pharmaceuticals (XENE) shares declined after the firm has priced $250M equity offering. In early market trading XENE has dipped 12.4%.

Financial participants that are in search of Wall Street’s top daily winners and losers throughout the complete trading session should look to Seeking Alpha’s On The Move section.

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