There’s a bunch of Berkshire Hathaway news out on Monday.
And it’s sending shares lower.
Warren Buffett’s Berkshire conglomerate bought aeroplane parts maker Precision Castparts in a deal worth $US37.2 billion on Monday.
This news followed Berkshire’s quarterly earnings report on Friday night that showed profit fell 37% in the second quarter due to higher costs at its insurance units.
Put these two items together, and you’ve got Berkshire Hathaway Class A shares down more than 1.4% on Monday, or around $US3,060 per share to $US212,400.
Berkshire Hathaway Class B shares — which trade at 1/1,500 the price of the Class A issues — were near $US142 on Monday.
Both classes of stock are down about 6% this year.