Warren Buffett's Berkshire Hathaway (BRK.B - Get Report) has bought a 5.5% stake in Dow component IBM (IBM - Get Report). IBM shares were up 0.9% to $189.08.
Walt Disney (DIS - Get Report) on Friday reported adjusted fourth-quarter profit of 59 cents a share, beating the average analyst estimate of 54 cents. While revenue at most divisions were up, Disney Studio's revenue fell 8% to $1.46 billion. Shares were down 0.8% at $36.40.
Lowe's (LOW - Get Report), the home-improvement retailer, earned $225 million, or 18 cents a share, in the third quarter, down 44% from $404 million, or 29 cents, a year earlier. On an adjusted basis, earnings in the quarter were 35 cents a share. The latest period included charges related to store closings and discontinued projects of 17 cents a share. Lowe's said sales rose 2.3% to $11.9 billion. Comparable-store sales in the third quarter rose 0.7%. Analysts were expecting Lowe's to earn 33 cents a share in the third quarter on sales of $11.69 billion. For the fiscal year, Lowe's said it expects total sales to increase 2% to 3%, with comparable-store sales declining by about 1%. Lowe's expects fiscal-year earnings of $1.37 to $1.40 a share, including charges of 20 cents a share. Shares were down 0.7% to $22.94.
Southwest Airlines' (LUV - Get Report) AirTran unit will terminate routes to five airports including Miami International and Washington's Dulles in 2012 due to higher fuel costs and lackluster demand. Shares were falling 0.5% at $8.17.
SORL Auto Parts (SORL - Get Report) reported third-quarter profit of 18 cents a share, in line with estimates. -- Written by Joseph Woelfel and Andrea Tse >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: firstname.lastname@example.org.