Yahoo Finance Trending tickers: Berkshire Hathaway | Amazon | GameStop | Halfords
The latest investor updates on stocks that are trending on Wednesday
Berkshire Hathaway (BRK-A)
Shares in Berkshire Hathaway were in the red in extended trading after news that Charlie Munger, the veteran right-hand man of billionaire stockpicker Warren Buffett, has died aged 99.
Buffett said in a statement: “Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom and participation.”
Munger, who started working as Berkshire’s vice-chairman in 1978, was credited with helping Buffett choose how to invest its capital – and swiftly pointing out any potential mistakes.
He is credited in persuading Buffett to switch investment strategy from buying troubled companies on the cheap to buying well-performing businesses that happened to have underpriced stock.
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The conglomerate said it was advised by members of Munger’s family that he peacefully died on Tuesday at a California hospital. He would have turned 100 on New Year’s Day.
Amazon (AMZN)
Investors do not seem to be convinced by Amazon’s latest announcement of two new AI chips on Tuesday developed in partnership with Nvidia (NVDA) and the launch of an artificial intelligence (AI) business chatbot. Shares were in the red in extended trading.
Amazon said Q, its business chatbot powered by generative AI, can do things such as synthesise content, streamline day-to-day communications and help employees with tasks.
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It is the company’s response to ChatGPT and Google’s (GOOG) Bard as Amazon tries to show that it hasn’t fallen behind in the push to take advantage of artificial intelligence.
However, unlike the other chatbots, Q is focused on workplaces and not intended for consumers.
"We think Q has the potential to become a work companion for millions and millions of people in their work life," Adam Selipsky, the chief executive of Amazon Web Services, told the New York Times in an interview.
GameStop (GME)
GameStop shares were trending higher on heavy trading volume as investors bet that the stock will rally 50% in little over a week.
After a decline of more than 55% since its peak in mid-June, GameStop shares surged 13% in the trading session on 28 November, with an additional 12% increase in after-hours trading.
Investors are preparing for the videogame retailer's financial update, which is expected to show revenue of $1.1bn (£866.8m) and an EPS loss of $0.08.
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This will be the first earnings report since Ryan Cohen took over as CEO, and analysts are speculating on potential strategic moves, including investments in cloud gaming and virtual reality, as well as partnerships within the gaming industry.
GameStop Corporation is set to report its third-quarter financial results after the market close on 6 December.
Halfords (HFD.L)
Halfords Group plunged after the bicycles-to-car parts retailer narrowed its annual profit forecast range and lowered the upper end of its expectations.
The group now expects to deliver a pre-tax profit of between £48m and £53m for the current financial year as a result. It had previously forecast a £48-58m range.
Halfords said pre-tax profits improved by 3.3% to £19.3m for the six months to 29 September.
“In the last couple of months we have seen some market softening in our discretionary big-ticket categories, which has been reflected in slower like-for-like sales growth,” the company said.
Halfords said it will continue to focus further on reducing costs in order to offset the slower recovery of sales in some areas.
Watch: Charlie Munger, Warren Buffett's right-hand man, dies at 99
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