This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Business Highlights

Berkshire Hathaway's Class A stock slipped below $100,000 for the first time since January 2010 amid broader market declines and concern about the health of the economy.

The Class A shares of billionaire investor Warren Buffett's company traded as low as $98,952 Thursday, but rebounded to close at $100,000. The more affordable Class B shares traded as low as $65.35, during the day. The Standard & Poor's 500 index dropped 3.2 percent.

Over the past year, Berkshire's Class A shares declined nearly 19 percent from $124,865 to Wednesday's closing price of $101,250. By contrast, the S&P 500 index that Buffett measures his company's progress against was up about 2 percent from a year earlier at Wednesday's close.

___

Nike's 1Q net income rises 15 percent

Nike Inc.'s fiscal first-quarter net income rose 15 percent as sales of its athletic gear rose faster than its costs.

The world's largest athletic shoe and clothing maker reported after the market closed Thursday that it earned $645 million, or $1.36 per share, for the quarter that ended Aug. 31. That's up from $559 million, or $1.17 per share, in the same quarter last year.

Nike's revenue rose 18 percent to $6.08 billion. Excluding the impact of foreign exchange rates, revenue rose 11 percent.

Nike, based in Beaverton, Ore., said demand for its product remained strong around most of the globe. That helped make up for the higher prices it paid for raw materials and for selling more things at a discount, both of which hurt its profit margins during the period.

___

Fewer people applied for unemployment benefits

The number of people applying for unemployment benefits fell last week, though the decline isn't enough to signal improvement in the job market. Weekly applications dropped by 9,000 to a seasonally adjusted 423,000, the Labor Department said Thursday. The four-week average, a less volatile figure, rose slightly for the fifth straight week to 421,000.

3 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,654.77 +369.26 2.27%
S&P 500 1,987.66 +47.15 2.43%
NASDAQ 4,812.7080 +115.1720 2.45%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs