Berkshire Hathaway Announces Mixed Report

Warren Buffet also bought the dip on AAPL this quarter

Deputy Editor
May 2, 2022 at 10:23 AM
facebook twitter linkedin


Warren Buffet's Berkshire Hathaway Inc (NYSE:BRK) is in the spotlight today, after the company announced a mixed first-quarter report, with better-than-expected earnings of $3.18 per share alongside revenue of $68.83 billion, which came in below the estimated $69.15 billion. Net earnings dropped more than 53% year-over-year, amid a sharp downturn in the company's insurance underwriting business. Separately, Warren Buffet bought another $600 million worth of Apple (AAPL) stock in the first quarter, and today BRK announced a 9.5% stake in Activision Blizzard (ATVI). 

On the charts, BRK has been slipping since its March 29 record high of $362.10, and is fresh off its fourth consecutive weekly loss. Today, the equity is down 0.6% to trade at $321.04, and looking to close below its 100-day moving average for the first time since December. 

Analysts have yet to chime in on the earnings event. The majority lean bearish, with four of the five in coverage carrying a lukewarm "hold" rating. 

 

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

 
Schaeffer's Daily Bulletin Offer
 


 


 
Special Offers from Schaeffer's Trading Partners