Berkshire's cash hits $277 billion as Buffett pulls back from stocks; operating profit sets record

- Warren Buffett appears to have soured on stocks, letting cash at Berkshire Hathaway soar to nearly $277 billion even as the conglomerate posted a record quarterly profit from its dozens of operating businesses.

Second-quarter operating profit rose 15% to $11.6 billion, or to about $8,073 per Class A share, from $10.04 billion a year earlier, with nearly half coming from underwriting and investments in Berkshire's insurance businesses. ZEITA, West Bank — Two Israeli airstrikes in the northern West Bank Satruday killed nine Palestinian militants, according to Israel's army, as violence flares in the Israeli-occupied territory.

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