Play Video News Update – Pre-Markets
Check out the companies making headlines before the bell:
Oracle — Famed value investor Warren Buffett's Berkshire Hathaway reported a 41.4 million share stake of the computing giant as of the end of September, according to a regulatory filing with the Securities and Exchange Commission. Oracle represents one of just two major tech stakes Berkshire holds, including iPhone maker Apple.
J.P. Morgan Chase —Berkshire Hathaway also revealed a new position in J.P. Morgan Chase in its third-quarter 13-F filing. The "Oracle of Omaha" is now very much long the U.S. banking system, with 35 million shares of JPM stock with a value of $4 billion. Buffett has positions in Wells Fargo, Bank of America, Goldman Sachs, U.S. Bancorp, and Bank of New York Mellon.
PG&E — The utility was set for another down day following a 21 percent decline on Wednesday. The company posted its worst day in more than 16 years after it said its insurance wouldn't cover its cost if it's found responsible for the so-called Camp Fire raging in Northern California.The utility company disclosed that it submitted an "electric incident report" to the California Public Utilities Commission on November 8, just before the wildfire. The stock is down 46 percent over the last week.
Walmart — The retail giant reported third-quarter profits 7 cents a share better than Wall Street expected but fell short on revenue, according to a Refinitiv survey of analysts. Walmart raised its full-year forecast for earnings and same-store sales, citing confidence in the coming holiday season.
Ford — Ford isroad-testing autonomous vehicles in Miami, Florida, in a partnership which the automaker hopes will help it capitalize on the ride-share and business delivery sectors.
Cisco Systems — The internet hardware and software manufacturer reported better-than-expected earnings and revenue. Chairman and CEO Chuck Robbins told CNBC that he is "optimistic" on the U.S.-China trade dispute, which has caused Cisco to implement "some price increases."
