Berkshire Hathaway's Bank of America stake has finally been cut to below the key 10% threshold, keeping Warren Buffett's next potential moves under wraps for a few months. The conglomerate has reduced its holding in the Charlotte-based lender to precisely 775 million shares, or about 9.987%, after 15 consecutive...
Wells Fargo on Friday reported third-quarter earnings that exceeded Wall Street expectations, causing its shares to rise. Here's what the bank did compared with Wall Street estimates, based on a survey of analysts by LSEG:Adjusted earnings per share: $1.52 vs. $1.28 expectedRevenue: $20.37 billion versus $20.42 billion expectedShares of the bank...
Warren Buffett walks the floor ahead of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2024. David A. Grogen | CNBCWarren Buffett's Berkshire Hathaway has reduced its stake in Bank of America to below 10% amid a selling spree that started in mid-July.In a Thursday night...
Warren Buffett took full control of Berkshire Hathaway Energy, a utility giant that it has owned a majority stake in since 1999, but the business has been a drag on the conglomerate. The Omaha-based Berkshire entered a deal to acquire the 8% remaining stake in BHE from the heirs...
When Warren Buffett, the ultimate buy-and-hold investor, sells a stock, it often sends a negative signal about the underlying business and maybe even the entire industry. The Sage of Omaha, whose preferred holding period is forever, is usually only motivated to exit a big position when he judges that...
Weakness in the job market , shifting expectations of the Federal Reserve's next move, fears of a hard landing, the risk of sticky inflation and the upcoming presidential election. To Warren Buffett , none of that macroeconomic stuff matters. The "Oracle of Omaha," who turned 94 years old last...
A sign hangs above a Dollar General store in Chicago on Aug. 31, 2023.Scott Olson | Getty ImagesDollar General shares tumbled Thursday after the discount retailer slashed its sales and profit guidance for the full year, suggesting its lower-income customers are struggling in this economy.Shares of the retailer, which...
Customers arrive at a Cava restaurant in New York City, U.S., June 22, 2023. Brendan Mcdermid | ReutersCheck out the companies making headlines after the bell: Cava Group — The fast-casual restaurant brand saw shares climb nearly 6% in after hours trading following a better-than-expected earnings report. Cava posted a profit...
Baupost Group's Seth Klarman slashed his big stake in Google and YouTube owner Alphabet before the July sell-off, according to a new regulatory filing with the SEC. The Boston-based hedge fund manager, who oversees roughly $28 billion in assets , chopped his Alphabet position by 64%, to just $195 million,...
Warren Buffett's head-turning sale of his big Apple stake did not faze Wall Street analysts' conviction in the iPhone maker. Berkshire Hathaway disclosed in its earnings filing over the weekend that its Apple stake was valued at $84.2 billion at the end of the second quarter, indicating that the...