Key TakeawaysShares in paint maker Sherwin-Williams are likely to remain in focus after jumping in extended trading Friday following news of its inclusion in the Dow Jones Industrial Average. The stock broke out above a cup and handle pattern in mid-August, but has recently retraced towards the initial breakout point, potentially leading to a retest of the pattern's upper trendline.Investors should watch key support levels on Sherwin-Williams' chart around $348 and $283, while also monitoring a measured mov ...

Core Insights - Berkshire Hathaway reported a decline in profit for the third quarter while its cash reserves reached a record high of over $320 billion [1][3][2] Financial Performance - The company's operating earnings for the third quarter were $10.1 billion, down from $10.7 billion year-over-year and $11.6 billion from the previous quarter [2] - The cash pile increased from $271.5 billion in the second quarter to $320.3 billion [3] Investment Activities - Berkshire Hathaway trimmed its stakes in both Apple and Bank of America, with total stock sales this year amounting to approximately $133 billion [1][5] - The value of Berkshire's equity portfolio decreased from $284.9 billion to $271.7 billion in the last quarter [5] - Berkshire's stake in Apple fell from $84.2 billion to $69.9 billion, indicating a reduction of about 25% [6] - The stake in Bank of America decreased from $41.1 billion to $31.7 billion [7] Insurance Operations - Investment income from Berkshire's insurance businesses rose by 50% to nearly $3.7 billion, but this was offset by a 70% decline in insurance underwriting profit, totaling $750 million [8] - Losses from Hurricane Helene were estimated at $565 million, with potential losses from Hurricane Milton projected between $1.3 billion and $1.5 billion [9] Subsidiary Performance - Profit at Berkshire Hathaway Energy tripled to $1.6 billion, driven by increased earnings from natural gas pipelines and reduced litigation costs [10] - Earnings from Berkshire's railroad business rose by 13%, benefiting from higher volumes and lower operating costs [10]

Key TakeawaysArtificial intelligence darling Nvidia and paint maker Sherwin-Williams are set to join the Dow Jones Industrial Average, replacing Intel and chemical giant Dow.The changes will take effect prior to the start of trading next Friday, Nov. 8, according to S&P Dow Jones Indices.Nvidia and Sherwin-Williams shares climbed in extended trading Friday following the news, while Dow and Intel shares edged lower. Artificial intelligence darling Nvidia (NVDA) is set to join the Dow Jones Industrial Averag ...

Key TakeawaysExxon Mobil and Chevron saw significant declines in profit margins for refined products.Consumers benefited as fuel prices, which typically rise in summer, dropped this year.As a result, earnings for both oil and gas conglomerates fell during the third quarter from the same period a year ago. Oil-and-gas giants Exxon Mobil (XOM) and Chevron (CVX) surpassed subdued third-quarter earnings expectations Friday. But substantially weaker profit margins for refined products, reflecting lower summer fu ...

Key TakeawaysAtlassian beat profit and sales estimates and raised its outlook as its artificial intelligence offerings helped drive subscriptions.The software and services provider for developers and project managers reported a 33% jump in subscription revenue.Atlassian now expects full year revenue growth of as much as 17%, up slightly from earlier projections. Atlassian (TEAM) shares surged Friday after the business-software company posted better-than-expected quarterly results and raised its guidance as ...

Key TakeawaysMultiple analysts raised their price targets for Amazon after the company's third-quarter results beat Street expectations.CEO Andy Jassy said the company's artificial intelligence (AI) business is growing three time faster than Amazon Web Services (AWS) did at a similar stage of development.Amazon expects to increase its capital expenditure this year, most of which is going toward technology infrastructure to support AI. Amazon (AMZN) shares jumped Friday as multiple analysts raised their pric ...

Core Insights - Wayfair's third-quarter adjusted profit exceeded analysts' expectations, but the company experienced a decline in customer numbers and orders delivered [1][2] - The company reported adjusted earnings per share (EPS) of $0.22, nearly double the forecast, while revenue fell 2% year-over-year to $2.88 billion [1][2] - CEO Niraj Shah acknowledged ongoing challenges in the market, despite the company managing to grow its market share [3] Customer Metrics - Active customers decreased by 3% to 21.7 million, and orders delivered fell by 6% to 9.3 million [2] - Repeat customers placed 7.4 million orders, also down 6% [2] - Revenue per customer increased by 1% to $545, and the average order value rose by $13 to $310 [2] Financial Performance - The adjusted EBITDA margin was reported at 4% [1] - Operating expenses were reduced by 11% to $947 million [2] - Despite initial gains in premarket trading, Wayfair's shares fell by 1% and have lost a third of their value this year [3]

Core Insights - Abbott Laboratories and Reckitt Benckiser experienced a rise in their stock prices following a jury's decision that cleared them of liability in a case related to a boy's intestinal disease [1][2][3] - The Missouri state court jury's ruling is considered a significant legal victory for both companies, especially after previous losses in similar cases involving necrotizing enterocolitis (NEC) [3][6] - UBS analysts noted that this ruling marks the first victory for Abbott and Reckitt in a NEC state case, contrasting with previous financial penalties they faced [6] Company Performance - Abbott's stock rose by 5% following the verdict and has gained 8% in 2024 [6] - Reckitt's shares increased by 8% in London trading but have seen a 7% decline year-to-date [6] Industry Context - Both companies emphasized that the decision aligns with the scientific consensus that there is no established causal link between their specialized preterm nutrition products and NEC [4][5] - The ruling supports the notion that specialized preterm hospital nutrition products are safe and essential for infants when human milk is unavailable [5]

KEY TAKEAWAYSBoeing shares are rising in premarket trading Friday after it reached a tentative deal with its machinists union on a new contract, potentially ending a crippling seven-week strike.The International Association of Machinists (IAM) is asking its members to approve the sweetened offer from Boeing in a vote on Monday.The new offer includes a 38% general wage increase over four years, higher than the previous offer of 35%. That "compounds to 43.65% over the life of the agreement," the union said. B ...

Key TakeawaysAmazon shares rose 6% in extended trading on Thursday after the company surpassed Wall Street’s third-quarter earnings estimates, boosted by growth in its cloud business and healthy e-commerce sales.The stock sits poised to break out from a symmetrical triangle following the company’s better-than-expected quarterly report.Investors should watch key overhead price levels on Amazon's chart around $200, $242, and $273, while also monitoring an important support area during profit taking periods ne ...