HP Shares Leap Premarket After Berkshire Hathaway Reveals Stake
April 07 2022 - 8:13AM
Dow Jones News
By Colin Kellaher
Shares of HP Inc. jumped nearly 15% in premarket trading
Thursday after billionaire investor Warren Buffett disclosed that
his Berkshire Hathaway Inc. investment vehicle had built a roughly
11% stake in the technology company.
According to a pair of filings with the U.S. Securities Exchange
Commission, Berkshire holds nearly 121 million HP shares, worth
more than $4.2 billion based on Wednesday's closing prices.
Berkshire, which is looking to put a cash pile topping $140
billion to work, last month said it would pay $11.6 billion to
scoop up insurer Alleghany Corp.
HP shares were recently changing hands at $39.93, up 14%, in
premarket trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
April 07, 2022 07:58 ET (11:58 GMT)
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