Berkshire Hathaway Climbs, But Dow Slips Because Even Warren Buffett Can not Lift The Market By Itself
Illustration by Michael Haddad
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Rolger, for now. Lower than expected earnings in Japan
NTT Data
(9613.japan) and
Quick storage
(9983.Japan), owner of the Uniqlo brand, helped to send Asian stocks lower. European stocks are modestly higher, but US markets seem to have pulled off the positive queue. Futures at Dow Jones Industrial Average were down at 0.4%, Nasdaq Composite futures were 0.3% lower and the S & P 500 futures were close to the break-even line. In today's Morning Movers, we …
- … Investigate Revenue Again,
- … Check In On Upcoming Events;
- … and weigh in midway.
Barron Briefs [19659009] Buffett delivers: In other earnings news,
Berkshire Hathaway
(BRK.B) reported results over the weekend. Do not forget that they have more industrial revenue than
Honeywell
(HON) and more rail revenues than
Union Pacific
(UNP). Margins in business decreased year after year when higher costs for raw materials and logistics affected the results. It is consistent with which other manufacturing companies have reported this quarter.
Numbers By Barron is a two-minute financial podcast with three important numbers to start the morning. Available on iTunes, Stitcher, and wherever you get your podcasts – as well as on your Amazon Alexa smart speaker
Morning Movers
Apple
(AAPL) is down 1.5% to $ 204.30 on reports that it suspends a production increase for iPhone XR.
Berkshire Hathaway is up 2.8% to $ 212.30 after reporting from the third quarter. Warren Buffett holding company said operating profit was $ 6.88 billion, up from $ 3.44 billion last year.
Diamond Offshore
(DO) is up 3.5% to $ 14.70 after reporting third quarter earnings. Oilfield service providers lost 26 cents per share on sales of $ 286 million. Analysts were looking for a loss of 35 cents on revenue of $ 281.74 million.
General Electric
(GE) is up 1.1% to $ 9.40 after CEO Larry Culp revealed the acquisition of 225,000 shares in the company's share.
Spotify Technology
(SPOT) is up 2.2% to $ 142 after approval of a new $ 1 billion share purchase program.
-Teresa Rivas
Write to Al Root at all.root@dowjones.com