Stocks Higher in Late Trading as Major Indexes Look to Extend Winning Streaks

How Warren Buffett’s Berkshire Hathaway Grew Its Cash Pile

25 minutes ago

Warren Buffett’s Berkshire Hathaway (BRK.A, BRK.B) added a few new positions and raised some of its equity stakes in the second quarter, filings this week showed, though it trimmed more of its stock holdings than it added, bringing Berkshire Hathaway’s cash and U.S. Treasury holdings to a record high at $276.9 billion. 

The size of Berkshire’s growing cash pile and selling spree over several quarters have raised speculation Buffett could be concerned about the market becoming overheated, raising cash for successors, or unimpressed with other options.

Back in May, Buffett said Berkshire was building its cash position and suggested it’s been difficult finding opportunities meeting Berkshire’s criteria. 

Read the full story here.

–Kara Greenberg

S&P 500 and Nasdaq Set to End Four-Week Losing Streaks

1 hr 52 min ago

The S&P 500 and Nasdaq have posted four straight weekly losses, but that streak is set to come to a close this week.

As of about 1:00 pm ET Friday, the S&P 500 had recovered almost all of the ground lost during the four-week swoon, while the Nasdaq was still down about 4% since the close of trading on July 12.

Walmart Levels to Watch After Stock Hit Record High

4 hr 8 min ago

Shares of Walmart (WMT) are on the rise again Friday, one day after surging on the strength of a strong earnings report and rosy outlook.

The share price set a record close Thursday on the highest trading volume since mid May, suggesting active participation by institutional investors.

A bars pattern, which takes the stock’s trending move from early May to mid-July and positions it from this month’s low, forecasts an upside target in Walmart shares of around $80.

During a retracement, the retailer’s shares may encounter support around $71 and $62.

Read the full technical analysis here.

–Timothy Smith

H&R Block Soars After Earnings, Dividend Boost

4 hr 31 min ago

H&R Block (HRB) shares jumped Friday, a day after the tax-prep firm reported higher-than-forecast fiscal 2024 fourth-quarter results.

H&R Block said revenue for the three months to June 30 edged higher to $1.06 billion from $1.03 billion a year ago, while net profit fell to $257.8 million from $302.3 million. The results topped consensus analysts’ estimates on both the top and bottom lines.

The company also said it would issue a quarterly dividend of 37.5 cents a share, a 17% increase, and launch a new share-buyback program of $1.5 billion.

H&R Block shares were up 17% in recent trading to a new all-time high.

–Nisha Gopalan

Nvidia Price Levels to Watch After Recent Rally

5 hr 43 min ago

Nvidia (NVDA) shares were down slightly in early trading Friday. The stock has gained 24% since Aug. 7, when it closed below $100 for the first time since May.

The recent recovery in Nvidia’s shares has occurred on below-average volume, indicating the move may be driven by retail investors rather than larger market participants.

Nvidia shares could encounter support at $116 and $97, but may face selling pressure at $136 and near a bars pattern price target around $152.

Read our full technical analysis here.

–Timothy Smith

Stock Futures Point to Lower Open for Major Indexes

6 hr 27 min ago

Futures tied to the Dow Jones Industrial Average were down 0.3%.

S&P 500 futures were off 0.5%.

Nasdaq 100 futures were down 0.6%.