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☆ 3 reasons why Warren Buffett is shunning stocks — including his own
▼ + stars: | 2024-11-04 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Warren Buffett isn't hot on stocks right now, and the 94-year-old CEO's latest moves reflect that. The cash hoard has grown as Berkshire pared down stakes in key holdings such as Apple and Bank of America . It's also raked in more than $10 billion from steadily selling Bank of America shares since the summer. Berkshire Class A stock trades at 22.6 time earnings. Lastly, Colas noted that Buffett may have "have identified one or more large acquisitions and is raising capital for those purchases."

Persons: Warren Buffett, Berkshire Hathaway, Goldman Sachs, It's, Buffett, didn't, Nicholas Colas, Colas, Greg Abel, hasn't, Morgan Stanley Organizations: Berkshire, Nike, Disney, Apple, Bank of America, of America, DataTrek, Oracle, Berkshire Class Locations: Berkshire, Omaha

☆ CNBC Daily Open: One day more to elections
▼ + stars: | 2024-11-04 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Markets shrug off weak jobs reportStocks rallied Friday to kick off November, led by Amazon and as traders shrugged off a disappointing jobs report. Harris gains ground in IowaIowa is not a state that many pollsters predicted will break for Democratic presidential candidate Kamala Harris. That, instead of the sitting president, could hold the key to how stocks perform going forward.

Persons: Blythe Andrews , Jr, Dow Jones, Stocks, shrugged, Warren Buffett, Harris, Kamala Harris, Donald Trump Organizations: Public, CNBC, U.S . Bureau of Labor Statistics, Boeing, Amazon, Dow Jones Industrial, Nasdaq, Berkshire, Bank of America, Democratic, Des Moines Register, Iowa Locations: Tampa , Florida, U.S, Berkshire, Omaha, Apple, Iowa Iowa, Iowa

☆ Where Jim Cramer stands on Apple after more selling from Warren Buffett's Berkshire
▼ + stars: | 2024-11-04 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

The news Berkshire Hathaway sold another large chunk of Apple shares, according to the Warren Buffett -led company's earnings report Saturday. But it still held roughly $69.9 billion worth of Apple shares at the end of September. It's unclear why Berkshire is selling Apple, but investors don't seem too worried. AAPL YTD mountain Apple YTD Apple stock fell 1% in Monday's down market, the first chance Wall Street got to react to the news. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Berkshire Hathaway, Warren Buffett, Morgan Stanley, Jim Cramer, Jim, Buffett, Jim Cramer's Organizations: Berkshire, Apple, of America, CNBC, Nurphoto, Getty Locations: Omaha, Berkshire, Monday's, Manhattan , New York

☆ Berkshire Hathaway's cash fortress tops $300 billion as Buffett sells more stock, freezes buybacks
▼ + stars: | 2024-11-02 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Warren Buffett walks the floor ahead of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska, on May 3, 2024. Berkshire Hathaway 's monstrous cash pile topped $300 billion in the third quarter as Warren Buffett continued his stock-selling spree and held back from repurchasing shares. Meanwhile, since mid-July, Berkshire has reaped more than $10 billion from offloading its longtime Bank of America investment. Overall, the 94-year-old investor continued to be in a selling mood as Berkshire shed $36.1 billion worth of stock in the third quarter. The company states that it will buy back stock when Chairman Buffett "believes that the repurchase price is below Berkshire's intrinsic value, conservatively determined."

Persons: Warren Buffett, Berkshire Hathaway, Buffett Organizations: Berkshire, Oracle, Apple, Bank of America Locations: Omaha , Nebraska, Omaha, Berkshire

☆ Warren Buffett's Berkshire Hathaway has reduced its big stake in Apple by two-thirds in the last year
▼ + stars: | 2024-11-02 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +2 min

Berkshire Hathaway reduced its Apple stake again in the third quarter of 2024. Warren Buffett's company has now cut its shares in Apple by two-thirds over the last year. AdvertisementWarren Buffett's Berkshire Hathaway has cut its stake in Apple — again. Berkshire Hathaway reduced its holdings in the iPhone maker to just under $70 billion, according to its third-quarter earnings report, which was published Saturday. Berkshire Hathaway has consistently sold shares and grown its stockpile of cash over the last year.

Persons: Berkshire Hathaway, Warren Buffett's, Buffett, —, Warren, Apple — Organizations: Apple, Service, Berkshire, Bank of America, CNBC Locations: Berkshire, Omaha

☆ Warren Buffett is selling down his stocks. Here are his top 5 holdings
▼ + stars: | 2024-11-02 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Warren Buffett turned heads as he dumped another big portion of his Apple stake, and here's where his top holdings stood at the end of the third quarter. Berkshire Hathaway disclosed in its earnings report that approximately 70% of its equity portfolio was concentrated in just five stocks — Apple, Bank of America , Coca-Cola , American Express and Chevron . Since mid-July, Berkshire has reaped more than $10 billion from selling its longtime Bank of America investment. The Omaha-based conglomerate's Chevron holding was untouched last quarter, worth $17.5 billion at the end of September. Its longtime holding Coca-Cola was also held steady last quarter, worth $28.7 billion.

Persons: Warren Buffett, Berkshire Hathaway, Buffett Organizations: Apple, Berkshire, Bank of America, American Express, Chevron, America Express Locations: Omaha, Berkshire

☆ Warren Buffett continued to sell down his Apple stake, cutting about a quarter in the third period
▼ + stars: | 2024-11-02 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

The Omaha-based conglomerate held $69.9 billion worth of Apple shares at the end of September, according to its third-quarter earnings report released Saturday morning. That implied Buffett offloaded approximately a quarter of his stake with about 300 million shares remaining in the holding. Warren Buffett sold another big chuck of his Apple stake, downsizing Berkshire Hathaway 's biggest equity holding for four quarters in a row. Before Apple, Buffett largely avoided technology companies for most of his career, saying they were outside of his circle of competence. Apple shares are up 16% on the year, trailing the S&P 500's 20% gain.

Persons: Buffett, Warren Buffett, Berkshire Hathaway, Ted Weschler, Todd Combs, buybacks Organizations: Oracle, Apple, Berkshire, U.S Locations: Omaha, Berkshire

☆ Berkshire’s cash soars to $325 billion as Buffett sells Apple, BofA; operating profit falls
▼ + stars: | 2024-11-02 | by ( Story Reuters | ) edition.cnn.com time to read: +3 min

Profit also rose at the BNSF railroad, which shipped more consumer goods, and Berkshire Hathaway Energy, where operating expenses declined. It has now sold more than 600 million of the iPhone maker’s shares in 2024, though Apple remained Berkshire’s largest stock holding, at $69.9 billion. The sales comprised a large portion of the $36.1 billion of stock, including several billion dollars of Bank of America shares, that Berkshire sold in the quarter. Operating profit from Berkshire’s dozens of businesses fell to $10.09 billion, or about $7,019 per Class A share, from $10.76 billion a year earlier. This more than offset a near doubling of underwriting profit at Geico.

Persons: CNN — Warren Buffett, Berkshire Hathaway, Hurricane Helene, Apple, Buffett, Helene, Whittaker Clark, Daniels, Greg Abel Organizations: CNN, Apple, Berkshire Hathaway Energy, Bank of America, Berkshire, Hurricane Milton Locations: Berkshire, Geico . Berkshire, Hurricane, Florida, Omaha , Nebraska

☆ Cramer's week ahead: The election, Fed decision and earnings from Super Micro, Arm, Qualcomm and CVS
▼ + stars: | 2024-11-01 | by ( Julie Coleman | ) www.cnbc.com time to read: +3 min

CNBC's Jim Cramer on Friday walked investors through next week's market action, highlighting the Federal Reserve's next meeting and earnings from Super Micro Computer. Despite the slew of earnings next week, Cramer said the presidential election will steal Wall Street's attention. Tuesday marks election day, and the polls remain deadlocked between Vice President Kamala Harris and former President Donald Trump. Cramer called Super Micro Computer's report "the most intriguing story" next week as shares declined recently when the tech company's auditor, Ernest & Young, resigned. The Fed will issue its decision on interest rates Thursday, and Cramer said the central bank needs to make a cut.

Persons: CNBC's Jim Cramer, Cramer, Berkshire Hathaway, —, Warren, Buffett, Kamala Harris, Donald Trump, Ferrari, Ernest & Young, David Joyner, he's Organizations: Micro, Berkshire, Constellation Energy, Builders FirstSource, Ferrari, CVS, Qualcomm, Fed, Arista Networks Locations: China, America

☆ 30 essential tips for living a longer, happier, more successful life with no regrets
▼ + stars: | 2024-10-31 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +6 min

The anti-aging market is littered with innovative products and procedures that promise consumers a healthier, happier, longer life. But prolonging your life isn't only about physical fitness: a near 90-year-long study from Harvard University found that those who live happier, longer lives have good relationships. If you want to live longer and feel more fulfilled you probably don't need lasers or freezers. 30 essential tips for living a longer, happier, more successful life1. If you can't drive, don't live somewhere where the doctor is a 30-minute car ride away.

Persons: superagers, dieticians, Warren, Buffets, Valter Longo, David Watson, Warren Buffet, Neil Paulvin, Danielle Miura, Mark La Spisa, García, Francesc Miralles, Charlie, Munger, Warren Buffett, it's, Thema Bryant Organizations: Harvard University, Italy —, Cancer Laboratory, IFOM, of Oncology, University of Notre Dame, GameStop Locations: New York City, Blue, Okinawa, Japan, Sardinia, Italy

☆ Buffett's investment is another signal that others see the value of Ulta, says CEO David Kimbell
▼ + stars: | 2024-10-30 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Buffett's investment is another signal that others see the value of Ulta, says CEO David KimbellUlta CEO David Kimbell joins 'Mad Money' host Jim Cramer to talk quarterly results, consumer trends, and more.

Persons: David Kimbell, Jim Cramer

☆ How to dance the earnings two-step: Recognize initial stock distortions and then act
▼ + stars: | 2024-10-27 | by ( Jim Cramer | ) www.cnbc.com time to read: +18 min

For all we know, the yield curve may simply be going through the birthing of an un-inverted yield curve. GOOGL YTD mountain Alphabet YTD Search used to be so simple. META YTD mountain Meta Platforms YTD Meta Platforms has run big ahead of the quarter. AMZN YTD mountain Amazon YTD Let's get to the two toughest of the week, Amazon and Apple. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: let's, Eli Lilly, nonfarm payrolls, Carl Quintanilla, batty, Jeff Marks, Waymo, Elon Musk, Donald Trump, Kamala Harris, Department's, Mark Zuckerberg, Jensen Huang, Marc Benioff, Trump, Warren Buffett, Jim Cramer's, Jim Cramer, Jim Organizations: CNBC, Microsoft, Apple, Treasury, Federal Reserve, charlatans, Honeywell, Twitter, Club, Gemini, YouTube, Google, Donner Party of cannibalization, AMD, Nvidia, Intel, Merck, Pfizer, Tech Titans, Meta, Amazon Web Services Locations: Wall, cyclicals, California, Philly

☆ Warren Buffett says he won't endorse Kamala Harris or Donald Trump. Here's why he's staying out of politics.
▼ + stars: | 2024-10-26 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Warren Buffett hasn't endorsed Kamala Harris in her presidential race against Donald Trump. Buffett has said he doesn't want to risk hurting his workers and shareholders by voicing his views. AdvertisementWarren Buffett has not endorsed Kamala Harris or Donald Trump, and made it clear this week he will not publicly back either presidential candidate. He didn't endorse Joe Biden either, although Biden reportedly told a group of Wall Street executives in October 2020 that he "just got off the phone with Warren Buffett." It's also possible Buffett has spoken to Harris behind the scenes.

Persons: Warren Buffett hasn't, Kamala Harris, Donald Trump, Berkshire Hathaway, Hillary Clinton, Buffett, —, Warren Buffett, Mr, Berkshire CEO's, Barack Obama, he's, he'd, shouldn't, Harris, Joe Biden, Biden, It's, Harris — Organizations: Berkshire, Obama, Service, Berkshire Hathaway's, Democratic, Wall Street Locations: Berkshire, Omaha

☆ Warren Buffett — worried about impersonators — says he doesn't endorse candidates or investments
▼ + stars: | 2024-10-23 | by ( John Melloy | ) www.nbcnews.com time to read: +2 min

Warren Buffett is worried about a rise in impersonators looking to capitalize on his name by purporting to be him recommending an investment product or political candidate on social media. So much so that Berkshire Hathaway made the rare move of adding a statement on the matter to the front page of its website. The statement reads:“In light of the increased usage of social media, there have been numerous fraudulent claims regarding Mr. Buffett’s endorsement of investment products as well as his endorsement and support of political candidates. But Buffett wants to make sure everyone knows he would never do something like that. His actions were triggered in part by a fake political endorsement on Meta’s Instagram that was brought to his attention.

Persons: Warren Buffett, Berkshire Hathaway, Buffett, Becky Quick, “ I’m, ”, Kamala Harris, Donald Trump that’s, Elon Musk, Bill Ackman, Mark Cuban, Bill Gates, Harris, There’s, shuns bitcoin, Meta’s, Lacy O’Toole Organizations: Berkshire, The New York Times, CNBC Locations: Berkshire, Silicon Valley

☆ The index fund cushion is an equal opportunity booster for stocks
▼ + stars: | 2024-10-20 | by ( Jim Cramer | ) www.cnbc.com time to read: +12 min

S & P 500 money is oblivious to stock valuations of any kind and ignorant to upgrades and downgrades. The Lilliputian sellers regularly fail to do damage when matched with the oblivious index money. A 4% 2-year note isn't competitive to the magnet of the S & P 500 and its kin. That's emblematic of what happens with a big buyback without stock-based compensation (something many tech firms use that renders moot the S & P 500 inflows). Because of the way that the S & P 500 money is divvied up, the share base becomes overwhelmingly index-fund based and the index fund shareholders do not sell.

Persons: Morningstar, Smoot, Herbert Hoover's, Warren Buffett, Buffett, Jerome Powell, haven't, Charlie Scharf, Wells, Banks, Charlie, Morgan Stanley, Ted Pick, James Gorman, Schwab, Gamble, Jim Umpleby, that's, Butch Cassidy, Jim Cramer's, Jim Cramer, Jim, Charles Scharf, Kyle Grillot Organizations: Federal Reserve, Commerce Department, Taiwan Semi, Trust, Fed, Triple AAA Robinhood, Morgan, Procter, United Airlines, Exxon, Caterpillar, Boeing, Apple, Meta, Sundance, Jim Cramer's Charitable, CNBC, Milken Institute Global Conference, Bloomberg, Getty Locations: Hawley, McCumber, Taiwan, Arizona, American, Wells Fargo, Wells, China, Chevron, Beverly Hills, Calif

☆ We are 15 days from the 2024 presidential election. Here's where things stand.
▼ + stars: | 2024-10-20 | by ( Brent D. Griffiths | John L. Dorman | ) www.businessinsider.com time to read: +9 min

The presidential race remains razor close, with control of the White House at a coin-flip. AdvertisementIn just over two weeks, Election Day 2024 will be here — a final cap to a wild, at times unprecedented presidential fight that, for the moment, remains far too close to call. Noted election forecaster Nate Silver's model now shows Trump with an extremely slight lead in what continues to remain a toss-up race. Harris trolled Trump on Friday for being "exhausted," referencing a string of interviews he has reportedly walked away from. In the overwhelmingly conservative state, there's a swing district, the Omaha-based Nebraska 2nd.

Persons: —, Joe Biden, Kamala Harris, Donald Trump's, pollster Kristen Soltis Anderson, iecuUVyJ5e, Kristen Soltis Anderson, Harris, Mark Robinson, Nate Silver's, Harris trolled Trump, Trump, Barack Obama, Hillary Clinton, She's, Mark Cuban, Liz Cheney, Obama, Bruce Springsteen, Clinton, Bon Jovi, He's, It's, Melania Trump, night's Al Smith, Mike Pence, cohosts, Nikki Haley, Elon Musk, Musk, Spencer Platt, Mary, there's, There's, Biden, Trump's, Warren Buffett's Organizations: Service, White, Labor, RCP, Trump, Gov, The New York Times, Democrats, GOP, Capitol, Fox, Tesla, PAC, Getty, Pennsylvania, North Carolina —, Democratic, Electoral, Nebraska, Nebraska Republicans Locations: North Carolina, Wisconsin , Michigan, Pennsylvania, Michigan, Siena, Georgia, Des Moines , Iowa, Philadelphia, New York, Michigan , Pennsylvania, Wisconsin, Nebraska, Maine , Nebraska, Omaha, Minnesota , New Hampshire, New Mexico, Arizona

☆ Elon Musk is flexing his wealth and political power unlike any of the richest men before him
▼ + stars: | 2024-10-20 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +9 min

Musk has also seeded at least $75 million into a pro-Trump super PAC. "Elon Musk is sort of a natural for Donald Trump, " journalist Roger Lowenstein, who wrote a biography about Warren Buffett, told Business Insider. Recently, Musk's company seized the @America handle to boost his super PAC. AdvertisementNone of the other recent wealthiest men have come close to Musk's super PAC spending. Bezos made the biggest splash in 2018 when they donated $10 million to With Honor, a super PAC that supported veteran candidates.

Persons: Elon Musk, —, Donald Trump's, Musk, Elon, Donald Trump, Roger Lowenstein, Warren Buffett, Timothy Mellon, Robert F, Kennedy Jr, Koch, Michael Bloomberg, Bill Gates, Jeff Bezos, Ciara Torres, Lowenstein, Buffett, Warren, doesn't, It's, Anna Moneymaker, Barack Obama, Sen, JD Vance, Trump's, Trump, Ken Vogel's, Obama, Steve Ballmer, Gates, John McCain, Hillary Clinton, Joe Biden, he's, Steve Pope, Harris, Biden, Melinda French Gates, Bezos Organizations: Trump, Service, PAC, America PAC, American, Stetson University, Alternative Energy, The New York Times, Citizens, Citizens United, Microsoft, Berkshire, Republican, Obama, Electoral College, Nebraska, Congressional, Musk's, Washington Post, Communist Locations: Pennsylvania, Butler , Pennsylvania, Omaha, Gates, Nebraska's

☆ Mark Zuckerberg and Jensen Huang's combined wealth gains this year equate to the 7th richest person in the world
▼ + stars: | 2024-10-18 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

Mark Zuckerberg and Jensen Huang have collectively gained $150 billion this year. AdvertisementMark Zuckerberg and Jensen Huang have collectively grown over $150 billion richer this year, a figure that exceeds Warren Buffett's net worth. Huang, the CEO and cofounder of Nvidia, has gained $75.6 billion in net worth this year, second only to Zuckerberg. AdvertisementThe two tech titans have gained a combined $152 billion this year, which alone would make them the 7th richest person on earth. Zuckerberg and Huang's joint wealth has jumped to $324 billion —more than Coca-Cola ($301 billion) or Netflix ($295 billion) were worth at the end of Thursday trading.

Persons: Mark Zuckerberg, Jensen Huang, —, Warren, Zuckerberg, Elon Musk, Jeff Bezos, Huang, rade, Nvidia's microchips Organizations: Nvidia, Netflix, Service, Meta, Bloomberg, Amazon, Investors

☆ Warren Buffett's Berkshire Hathaway may have left $23 billion on the table by trimming Apple stock earlier this year
▼ + stars: | 2024-10-17 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Berkshire Hathaway cut its Apple stake by 55% in the first half of 2024, potentially missing out on $23B in profits. Apple shares have jumped 10% since the second quarter, driven by optimism about Apple Intelligence. Berkshire Hathaway entered 2024 with a massive stake in Apple, holding 905.6 million shares worth about $174 billion at the time. Instead, Berkshire Hathaway's current stake in Apple was worth $84 billion at the end of the second quarter. AdvertisementThe difference between the weighted average price and the price of Apple stock on Thursday nets out the $23.1 billion in missed profits for Berkshire Hathaway.

Persons: Berkshire Hathaway, —, Warren, That's, It's, Buffett Organizations: Berkshire, Apple, Apple Intelligence, Service, Business, company's Apple Intelligence Locations: Apple, Berkshire, HedgeFollow

☆ Why 401(k) plans are the 'final frontier' for exchange-traded funds
▼ + stars: | 2024-10-17 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Momo Productions | Digitalvision | Getty ImagesWhile many investors have flocked to exchange-traded funds, they haven't gained much ground with 401(k) plan participants. The report found that 401(k) plans used ETFs most readily for sector and commodity funds — but even then, they did so just 3% of the time. Key benefits are 'irrelevant'Mutual funds, collective investment trust funds and separately managed accounts held the lion's share of the 401(k) assets across all investment categories, PSCA data shows. However, those benefits are "irrelevant" in 401(k) plans, Blanchett said. Blanchett said 401(k) plans are also long-term accounts in which frequent trading is generally not encouraged.

Persons: Momo, David Blanchett, hasn't, Philip Chao, Chao, Warren Buffett's, Blanchett Organizations: Exchange, Mutual, Morningstar, Investment Company Institute, ICI, of America, Vanguard Locations: John , Maryland

☆ These 4 unflashy mid-cap stocks are on track to be tomorrow's mega-caps, according to one $3.2 billion fund manager
▼ + stars: | 2024-10-17 | by ( Christine Ji | ) www.businessinsider.com time to read: +3 min

Mid-cap stocks offer quality and significant upside, says Keith, a PM at Parnassus Investments. Keith shares 4 mid-cap stocks dominating their industries and on track to be tomorrow's mega-caps. The Magnificent Seven have incredibly high market caps now, but they were small- and mid-sized companies before they were market behemoths. That's why Lori Keith, director of research and portfolio manager at Parnassus Investments, is such a big fan of mid-cap stocks. AdvertisementBelow, she shares 4 mid-cap companies with strong long-term growth prospects and the potential to become market dominants.

Persons: Lori Keith, there's, Keith, —, Warren Buffett, Keith's Organizations: Parnassus Investments, Service, Nvidia, Fund

☆ Billionaire investor David Einhorn says Warren Buffett's recent stock sales show just how overvalued the market is
▼ + stars: | 2024-10-16 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The stock market is the most expensive it's been in decades, said billionaire David Einhorn. Warren Buffett's stock sales indicate that now is not time to be heavily invested in equities, his firm Greenlight Capital said in a letter. AdvertisementInvestors are fueling what looks like the most expensive stock market in decades, billionaire investor David Einhorn wrote in his hedge fund's quarterly letter. The fund noted that now is likely not a good time for high equity exposure, and cited Buffett's stock sales to make this point. According to Greenlight, these sales signal that high equity exposure might be best be held off until a better opportunity emerges in the not-so-distant future.

Persons: David Einhorn, Warren, Greenlight Capital, Greenlight, —, Warren Buffett, Buffett, Berkshire Hathaway Organizations: Greenlight, Service, Green Brick Partners Locations: Berkshire, Omaha

☆ Stocks making the biggest moves premarket: Flutter Entertainment, Boeing, SiriusXM, Caterpillar and more
▼ + stars: | 2024-10-14 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Crypto stocks – Stocks linked to cryptocurrencies rose as Bitcoin soared above $64,000 to start the week. Flutter Entertainment – The FanDuel parent company popped 4% after Wells Fargo upgraded shares to overweight , saying that investors should consider buying the stock following the recent sell-off. Boeing also postponed the delivery of its still-uncertified 777X wide-body plane and forecasted a wider-than-expected loss for the third quarter. Sirius XM Holdings – The audio entertainment company rose 3.5% after Warren Buffett's Berkshire Hathaway disclosed that it purchased more of the stock. Caterpillar – The industrial company slipped more than 2% after Morgan Stanley downgraded shares to underweight from equal weight.

Persons: MicroStrategy, Mara, Mara Holdings —, Coinbase, Wells, Warren Buffett's Berkshire Hathaway, Morgan Stanley, Goldman Sachs, AppLovin, Eli Lilly's, —, Alex Harring, Samantha Subin, Jesse Pound, Sarah Min, Hakyung Kim, Pia Singh Organizations: Mara Holdings, Boeing –, Boeing, Sirius XM Holdings, Berkshire, Sirius, Caterpillar, Walmart, Food and Drug Administration

☆ Stocks making the biggest moves midday: SoFi, Caterpillar, SiriusXM, Boeing and more
▼ + stars: | 2024-10-14 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in midday trading: SoFi Technologies — Shares of the online personal finance company jumped 9.8% after SoFi announced a $2 billion agreement with Fortress Investment Group to grow its loan platform business. Crypto stocks — Stocks tied to cryptocurrencies surged as bitcoin gained more than 5% to top $66,000. Ibotta — Shares advanced 5.5% after Goldman Sachs upgraded Ibotta, a mobile platform that offers cash-back rewards, to buy from neutral. Flutter Entertainment — The online gambling stock rose 4% after Wells Fargo upgraded shares to overweight from equal weight, urging investors to buy the recent dip. Caterpillar — The industrial stock fell 1.7% after Morgan Stanley downgraded shares to underweight from equal weight.

Persons: SoFi, Warren Buffett's Berkshire Hathaway, Stocks, cryptocurrencies, bitcoin, AppLovin, Goldman Sachs, Goldman, Wells, Morgan Stanley, Eli Lilly's, —, Alex Harring, Brian Evans, Samantha Subin, Yun Li, Lisa Kailai Han, Pia Singh, Michelle Fox Organizations: Fortress Investment Group, Sirius XM Holdings, Berkshire, Sirius, Mara Holdings, Boeing, Walmart, of America, Caterpillar, U.S . Food, Drug Administration Locations: U.S

☆ Warren Buffett's Berkshire Hathaway hikes its SiriusXM stake to 32% after Liberty deal
▼ + stars: | 2024-10-14 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett walks the floor and meets with Berkshire Hathaway shareholders ahead of their annual meeting in Omaha, Nebraska on May 3rd, 2024. Warren Buffett's Berkshire Hathaway continued to increase its stake in SiriusXM , now owning 32% of the New York-based satellite radio company. Berkshire hiked its bet after billionaire John Malone's Liberty Media completed its deal in early September to combine its tracking stocks with the rest of the audio entertainment company. Buffett's firm first bought Liberty Media's trackers in 2016 and started piling into SiriusXM's tracking stocks in the beginning of 2024 after the deal announcement in a likely merger arbitrage play. Meanwhile, the Liberty transaction, which reduced share count by 12%, could cause the company to pause stock buybacks until 2027, which will likely weigh on shares, the analyst said.

Persons: Warren Buffett, Warren Buffett's Berkshire Hathaway, John Malone's, Ted Weschler, Todd Combs, Sebastiano Petti Organizations: Berkshire Hathaway, Securities and Exchange Commission, Berkshire, John Malone's Liberty Media, Atlanta Braves, Liberty, JPMorgan Locations: Omaha , Nebraska, SiriusXM, York, The Omaha , Nebraska

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