Berkshire Shares Surge 2.2%, Snapping Post-Earnings Losing Streak
BRKA sits 15% above its 52-week low of $693,021.02.
Summary
Berkshire Hathaway's Class B shares rose 2.2% on Monday, on track to break a pattern of post-earnings declines. The move follows Saturday's Q2 report showing operating income up 16% to $12.98 billion and net earnings more than doubling. New details reveal the company deployed some of its record cash pile, repurchasing shares and turning net buyer of stocks for the first time in over three years. A regulatory filing due Friday will disclose the specific portfolio changes. This is the first indication of market reaction to the earnings and the capital deployment shift.
At the time of this announcement, BRKA was trading at $799,100.00 on NYSE in the Finance sector, with a market capitalization of approximately $1T. The 52-week trading range was $693,021.02 to $806,102.81. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.