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Warren Buffett's Berkshire Hathaway's stock surges after earnings, first buybacks in 6 yearsShares of Warren Buffett's Berkshire Hathaway Inc. (Class B) surged 2.6% in premarket trade Monday, after the company revealed over the weekend better-than-expected third-quarter earnings and that it bought back stock for the first time in six years. The company disclosed it bought back $928 million worth of Class A and Class B shares during the quarter. The last time the company repurchased shares was December 2012, when it paid about $1.3 billion to buy back it's stock, including $1.24 billion to buy 9,475 Class A shares at an average price of $131,065.62 and $53.8 million to buy 606,499 Class B shares at $88.76. Through Friday's closing prices, the Class A shares have gained 135% and the Class B shares have rallied 133%. In comparison, the Dow Jones Industrial Average has gained 93% since the end of 2012 through Friday. Separately, the company reported third-quarter net earnings of $18.54 billion, or $7.52 per Class B share, compared with $4.07 billion, or $1.65 a share in the same period a year ago, boosted by equity security investment gains of about $11.4 billion included as a result of changes in accounting rules. Given the overweight position of $AAPL, I think the path ahead may be fraught with difficulty . Dang...it feels good to be a crony Thanks to Donald Trump.
Source: MarketWatch - 🏆 3. / 97 Read more »
New York Times jumps on earnings beatThe stock traded as much as 27 percent higher after the report, but later eased off. Failing So much for Trunp’s NYT failing theory or wish ! realDonaldTrump will not be happy for this.
Source: CNBC - 🏆 12. / 72 Read more »
Shares of New York Times gain 12.5% after earnings beatThank Trump
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