Berkshire Hathaway reduced its stake in Bank of America and Citigroup
Shares of Bank of America Corp (NYSE:BAC) and Citigroup Inc (NYSE:C) are lower today, after Warren Buffett's Berkshire Hathaway (BRK) lowered its stake in both banks by 15% and 74%, respectively. Meanwhile, Occidental Petroleum Corp (NYSE:OXY) stock is higher, as the oil name -- which Buffett also partially owns -- gears up to report fourth-quarter result after the close.
BAC Fresh Off Weekly Loss
BAC is down 1.2% to trade at $46.39 at last glance, chipping away at its 36.2% year-to-date lead. Fresh off their fourth weekly loss in five, shares have struggled to move back above the $48 level since conquering their Nov. 29, three-year high of $48.08, while the 40-day moving average has been providing support since mid-January.
C Looks to Snap Win Streak
C was last seen down 0.9% to trade at $83.86, looking to snap a four-day win streak as it pulls back from its Feb. 13, roughly 17-year high of $84.67. Shares still boast a 53.1% year-over-year lead, however, and already added more than 19% in 2025, with support from their 20-day trendline.
OXY Eyes 3rd-Straight Gain
OXY is up 1.2% to trade at $48.64 at last check, but carries a 23.6% nine-month deficit. The security is pacing for a third-straight gain, however, though overhead pressure at the 40-day moving average lingers. The stock has an encouraging history of post-earnings reactions, finishing five of the last eight next-day sessions higher, averaging a move of 2.5% over the past two years, regardless of direction. This time, the options pits are pricing in a much larger swing of 6.4%.