Nov. 17 at 8:25 PM
U.S. stocks moved lower Monday as investors looked ahead to a busy week with earnings from Nvidia, Walmart, and Target, as well as key U.S. employment data. Alphabet gained over 3% after Berkshire Hathaway disclosed a new
$4.3 billion stake, making the company 1.6% of its portfolio by September. Apple slipped nearly 2% as Berkshire revealed it had sold
$10.6 billion of its shares, while also trimming positions in Bank of America and Verisign and increasing its investment in Chubb.
Tech hardware names weakened after multiple downgrades from Morgan Stanley. Dell fell sharply after being cut to Underweight, with the firm warning that rising memory-component prices would pressure margins. HP Inc. and Hewlett Packard Enterprise also declined following similar downgrades and reduced price targets.
XPeng dropped about 9% after reporting a quarterly loss despite delivering just over 116,000 vehicles, slightly above guidance.
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