Warren Buffett stocks Kraft Heinz (KHC) and DaVita (DVA) slumped on earnings on Wednesday, with other major Berkshire Hathaway (BRKB) portfolio holdings on deck this week, including “extraordinary business” Apple (AAPL).
↑
X
Warren Buffett Vs. IBD Methodology: Finding The Right Investing Approach For You
Kraft Heinz Stock
The ketchup and Jell-O maker slightly beat Q3 earnings estimates. Sales missed for a sixth straight quarter. Kraft Heinz reported weakening demand for certain branded products, notably Lunchables meal kits, after repeated price hikes.
In Wednesday’s stock market action, Kraft Heinz stock gapped down 4%, not far from August lows. Berkshire owns 27% of shares outstanding.
DaVita Stock
The dialysis facilities operator missed earnings estimates for a second straight quarter. Revenue came in slightly ahead of views. Management reported flat treatment volumes with excess mortality and mistreatment rates among the key issues.
DaVita stock plunged nearly 12% on the stock market today to test the 200-day moving average, falling decisively below a 147.93 buy point first cleared on Aug. 14. Berkshire owns 43% of shares outstanding.
↑
X
S&P 500 Giants Report Earnings. Will Megacap Results Sustain The Tech Rally?
Other Top Warren Buffett Stocks On Deck
Several top-10 holdings in Buffett’s roughly $350 billion portfolio are due to report earnings this week.
SiriusXM (SIRI) is on deck Thursday before the market opens. Apple (AAPL) is due Thursday after the market close. Chevron (CVX) is due early Friday.
Breakout stock Nu Holdings (NU), another Buffett holding and growing triple digits, is due on Nov. 13.
In October, Buffett-led Berkshire continued to hike its stake in SiriusXM, now owning 32% of the New York-based satellite radio company, according to CNBC.
‘Extraordinary’ Apple Is No. 1 Warren Buffett Stock
Meanwhile, Apple is the top Berkshire holding by market value. It the second-largest holding behind Bank of America (BAC) by number of shares.
Buffett owns 400 million shares of Apple stock worth more than $84 billion. That is despite more than halving its stake in the iPhone maker this year.
The Berkshire chief has called Apple an “extraordinary business” with “indispensable” products. He sold Apple stock after a massive run for its shares.
Apple stock fell 1.5% on Wednesday, but isn’t far from a buy point.
Please follow Aparna Narayanan on X @IBD_Aparna for more coverage.
YOU MAY ALSO LIKE:
Best Growth Stocks To Buy And Watch: See Updates To IBD Stock Lists
Looking For The Next Big Stock Market Winners? Start With These 3 Steps
Join IBD Live And Learn Top Chart Reading And Trading Techniques From Pros
Learn How To Time The Market With IBD’s ETF Market Strategy
Warren Buffett Stocks: What’s Inside Berkshire Hathaway’s Portfolio?
