Warren Buffett stocks Kraft Heinz and DaVita slumped on earnings on Wednesday, with SiriusXM joining their slide on Thursday. Apple fell on earnings Friday. But Chevron gained and Amazon jumped.
All are major holdings in Berkshire Hathaway's equity portfolio, which is valued at more than $300 billion. Berkshire itself reports Q3 earnings on Saturday.
Chevron Stock
Oil major Chevron beat third-quarter estimates early Friday. It tied a significant profit drop in part to lower margins on refined product sales. Chevron stock rose 2.8% on Friday after an initial dip, testing the 200-day moving average. Berkshire owns 118.6 million shares after recent cuts to its position in the energy heavyweight.
Amazon Stock, Apple Stock
E-commerce giant Amazon beat third-quarter earnings and revenue estimates late Thursday. Notably, the online advertising business and cloud business both grew sales 19%.
On Friday, Amazon stock gapped up 6.2%, seizing a 195.37 handle entry in huge volume. Shares continue to work on a 201.20 consolidation pattern buy point, according to MarketSurge, 2% below the trigger. Buffett-led Berkshire Hathaway owns 10 million shares.
IBD named Amazon Stock of the Day on Friday as it broke out.
Late Thursday, technology titan Apple beat estimates for its fiscal fourth quarter. Sales of the key iPhone product and overall sales both rose by 6%. But Apple stock shed 1.4% on Friday. Berkshire owns 400 million shares.
SiriusXM Stock
The New York based satellite radio company delivered a surprise loss for the third quarter, to the tune of $8.74 per share, according to FactSet. Losses, adjusted for asset impairment costs, were 84 cents per share. Analysts were expecting EPS of 77 cents. Revenue also missed, falling 4% to $2.171 billion.
SiriusXM stock shed almost 3% on Thursday, testing the 50-day average. Shares rallied on Friday.
Earlier in October, Berkshire Hathaway continued to hike its stake in SiriusXM. It's now a top-10 portfolio holding with more than 110 million shares owned, according to filings data tracked by whalewisdom.com.
Kraft Heinz Stock
The ketchup and Jell-O maker slightly beat Q3 earnings estimates on Wednesday. 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 4.1%, not far from August lows. It fell almost 4% for the week. Berkshire Hathaway owns 27% of shares outstanding.
DaVita Stock
On Wednesday, 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 in Wednesday's stock market action to test the 200-day moving average. It shed about 10% for the week. Berkshire owns 43% of shares outstanding.
Breakout stock Nu Holdings, another top-10 Buffett holding and growing triple digits, is set to report on Nov. 13.
'Extraordinary' Apple Is No. 1 Warren Buffett Stock
Meanwhile, Berkshire Hathaway has slashed its stake in iPhone maker Apple this year. Despite that, Buffett still owns 400 million shares of Apple stock worth more than $84 billion.
Apple is the top Berkshire holding by market value. It the second-largest holding behind Bank of America by number of shares.
The Berkshire chief has called Apple an "extraordinary business" with "indispensable" products. He sold Apple after a massive run for its shares.
Apple stock has continued to advance since then, but fell further below the 50-day line on Friday.
Please follow Aparna Narayanan on X @IBD_Aparna for more coverage.
