Warren Buffett's Berkshire Hathaway posted a rare share loss during the fourth quarter of last year, the company reported on Saturday, with the conglomerate's bottom line taking a hit from its holdings in beleaguered consumer giant Kraft Heinz.
Kraft Heinz's news sent down about 30 percent and slashed the value of Berkshire's stake in the company by more than $ 4 billion
It also led to Barclays analyst Jay Gelb to slash his earnings estimate on Berkshire in half. The analyst also said in a note to clients that Berkshire's quarterly numbers will likely be impacted by "substantial losses for the global insurance industry" due to the wildfires in California last year and Hurricane Michael.
– Reuters contributed to this article.
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