NEW YORK, Dec 18 (Reuters) – Berkshire Hathaway Inc’s stock price touched $300,000 for the first time on Monday, reflecting investors’ confidence in Warren Buffett’s conglomerate despite four straight quarters of lower operating profit. Crossing the $300,000 threshold put Berkshire’s Class A shares up 22.9 percent for the year, compared with a 20 percent gain in the Standard & Poor’s 500. Berkshire’s Class B shares, worth about 1/1500th of Class A shares, traded at around $199.75. Neither class pays dividends. The gain occurred even though 2017 has been Berkshire’s second straight year of mediocre operating performance relative to prior periods. Operating profit, which rose 1 percent in 2016, was down 16 percent from January to September, reflecting losses from storms such as Hurricanes Harvey, Irma and Maria, and the accounting for a transaction with American International Group Inc. But book value, or assets minus liabilities, was up 8.9 percent. Buffett considers this a good measure of Omaha, Nebraska-based Berkshire’s growth. Berkshire has more than 90 operating units, including large businesses such as the BNSF railroad, Geico auto insurance and Berkshire Hathaway Energy utilities, and smaller businesses making Dairy Queen ice cream, Duracell batteries, Fruit of the Loom underwear, Ginsu knives… Read full this story
- Google Stock Hits New Low; News Corp Says No On Yahoo
- Stocks hit 19-month low as D.C. turmoil weighs
- U.S. stocks hit record high as part of China trade deal comes ‘close to finalizing’
- ON THE ROAD- Latest Renault Kadjar Model hits the Irish Roads
- Dealers see a shortage of good quality stock
- Dealers hold 12% more used car stock in February
- Used demand creating 'ultra' category for mint stock
- Vertu H1 profits fall -13.4% to £18.1m as WLTP hit supplies
- Kicking, Screaming Warren Buffett Dragged From Caesars Palace After Losing Everything At Roulette Wheel
- Is buying penny stocks ever a good idea?
Buffett's latest milestone: Berkshire stock hits $300,000 have 305 words, post on www.cnbc.com at December 18, 2017. This is cached page on Make Money Online. If you want remove this page, please contact us.