Berkshire Hathaway repurchased $9.6 billion of stock in the third quarter and about $2 billion more in October while operating earnings fell to $12.71 billion.
The conglomerate's third-quarter operating earnings declined 6%, while net earnings fell 28% to $22.11 billion as insurance results weakened and gains on common-stock investments decreased.
Cash and equivalents ended September at $356.9 billion, down from $380.2 billion six months earlier. The repurchases indicate new CEO Greg Abel is putting more of the balance sheet to work.
This is an original summary, not a republication of the full report.
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Mitsui Chemicals will buy photoresist maker JSR for 1.84 trillion yen, with the Development Bank of Japan providing 200 billion yen as Japan pushes to strengthen its semiconductor-materials base.
Safran expects Airbus’s future eAction wing concept to use roughly twice as many actuators as today’s A320, as high-aspect-ratio wings and folding tips add control requirements.
Nvidia’s board has formed an independent committee to examine reporting that CEO Jensen Huang may have been targeted by a foreign intelligence effort; the company says it has no reason to believe secrets were compromised.