Fly Intel: Top five weekend stock stories

Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Berkshire Hathaway (BRK.A; BRK.B) reported a decline in Q1 earnings on slowing economic growth and stock market pullback. The company's net earnings came in at $5.46B, or $3,702 a Class A share equivalent, down over 53% from $11.71B, or $7,638 a share, a year earlier. Its operating earnings were flat year-over-year at $7.04B. Berkshire also reported a loss of $1.58B from its investments. Additionally, the company's stock buybacks slowed down to $3.2B from $6.9B in Q4. Meanwhile, Warren Buffett on Saturday used the annual meeting of Berkshire Hathaway to reveal major new investments including a bigger stake in Activision Blizzard (ATVI), while also railing against Wall Street excess and addressing the risks to his conglomerate of inflation and nuclear war, Reuters' Jonathan Stempel and Carolina Mandl reported. Buffett said Berkshire, long faulted for holding too much cash, boosted its combined stakes in oil company Chevron (CVX) and "Call of Duty" game maker Activision Blizzard nearly six-fold to more than $31 billion. 2. First Internet Bancorp (INBK), the parent company of First Internet Bank, announced that First Century Bancorp. has terminated the agreement and plan of merger between the two companies. Under the agreement, announced November 2, 2021, the consummation of the merger was to have occurred on or before April 30, 2022. The Board of Governors of the Federal Reserve approved the merger on April 29, 2022, but the parties were precluded from closing immediately thereafter due to statutory waiting periods. The parties were unable to agree on extension terms; First Century terminated the agreement on May 1, 2022. 3. Tesla (TSLA) stock has stalled since Elon Musk decided to buy Twitter (TWTR). But the jitters are overdone-and the stock might be primed for a new charge, Al Root wrote in this week's edition of Barron's. Tesla investors are clearly concerned about the deal, which will cost Musk some $44 billion. The doubters may be overplaying their hand, the author noted. Musk agreed to finance a bit more than half of the deal with debt and the rest with equity, which means $21 billion worth. That's entirely manageable for Musk and Tesla investors, the publication added. 4. DreamWorks Animation and Comcast (CMCSA) subsidiary Universal's "The Bad Guys" won this weekend's domestic box office with another $16.1M for a domestic total of $44.4M and $118.7M worldwide. The movie has an A CinemaScore. 5. Lithia Motors (LAD) saw a positive mention in this week's edition of Barron's.