Berkshire Hathaway Earnings Preview: Can Warren Buffett's Company Maintain Bullish Momentum?
Portfolio Pulse from Surbhi Jain
Berkshire Hathaway (NYSE:BRK) is set to report its Q2 earnings on Saturday, with Wall Street expecting $4.61 EPS and $81.88 billion in revenues. The stock has risen 21% over the past year and 18% YTD. Berkshire has been reducing its stake in Bank of America (NYSE:BAC), selling shares worth $3.8 billion since mid-July. Despite these sales, Berkshire still holds over 942 million shares of BAC. Technical indicators for BRK show mixed signals with short-term bearish trends but long-term bullish potential.
August 02, 2024 | 7:57 pm
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Berkshire Hathaway has reduced its stake in Bank of America, selling shares worth $3.8 billion since mid-July. Despite these sales, Berkshire still holds over 942 million shares of BAC, valued at $37.2 billion.
The significant sale of BAC shares by Berkshire Hathaway could indicate a lack of confidence in BAC's short-term performance, potentially leading to a negative impact on BAC's stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Berkshire Hathaway is set to report Q2 earnings with Wall Street expecting $4.61 EPS and $81.88 billion in revenues. The stock has shown a 21% increase over the past year and 18% YTD. Technical indicators show mixed signals with short-term bearish trends but long-term bullish potential.
The upcoming earnings report and the mixed technical indicators suggest potential volatility. However, the long-term bullish indicators and strong past performance imply a likely positive impact on the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100