Hot Market News
🟢 Warren Buffett's Berkshire Hathaway bought another 5.99 million shares of Occidental Petroleum, boosting its stake to 20.9% after the oil company's shares lost about a fifth of their value in less than a month. Berkshire now owns about 194.4 million Occidental shares worth approximately $11.9 billion, based on Occidental's Wednesday closing price of $61.41. Source: investing.com
🔥 🟢 Netflix shares jumped more than 6% after Atlantic Equities upgraded the stock to overweight, saying Netflix’s lower-cost, ad-supported subscriber tier, which it plans to launch in coming months, could boost its share price by 26%. Source: cnbc.com
⚪️ Porsche AG shares will list on the stock market on Thursday after Volkswagen priced shares at the top end of the announced range, a sign the luxury brand has lured buyers despite market turmoil. Books closed on Wednesday with a final price of 82.50 euros. Source: investing.com
🔴 Apple shares fell 3.4% following a report that the company is ditching plans to boost new iPhone production. Instead of aiming to increase output by 6 million units in the second half of the year as it had planned, it will shoot for 90 million units, unchanged from the prior year, according to Bloomberg. Source: investing.com
🟢 Amazon just wrapped up its fall hardware event where it announced a bunch of new gadgets. The event comes ahead of the busy holiday shopping season and ahead of the company’s second Prime Day. Here are the biggest announcements: The Kindle Scribe, a new Kindle you can write on; The Halo Rise sleep tracker; Four new Echo devices; Ring Spotlight Cam Pro; The new Fire TV Cube A new Fire TV Voice remote with customizable buttons; The new Fire TV Omni QLED Series. Source: cnbc.com
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