NEW YORK ( TheStreet) -- Last week, investors uncovered important clues as to the current state and future prospects for the Berkshire Hathaway ( BRK.A) stock portfolio.
The earnings performances of its top holdings Coca-Cola ( KO), Wells Fargo ( WFC) and American Express ( AXP) were decidedly mixed. This week, a handful of other notable firms in this legendary portfolio followed suit. Again, there proved to be both points of strength and hints of weakness. On Wednesday, ConocoPhillips ( COP) presented investors with its quarterly performance numbers and outlook. Despite seeing a dip in third-quarter earnings, the oil giant's profits were positive. High energy prices helped the firm blow past analyst expectations. Exxon Mobil ( XOM) helped to keep the mood high when it reported standout earnings on Thursday morning. Looking ahead, ConocoPhillips will likely be an exciting name to watch as it prepares to split its refining and production branches into two separate entities. The plan is projected to be completed next year. It will be interesting to see if Warren Buffett takes any action in response to this break-up. Shares of COP currently represent a respectable slice of the Berkshire portfolio. However, on a number of occasions in recent memory, investors have watched the Oracle of Omaha pared back his exposure to the company. In the past, Buffett has admitted that his decision to sharply increase his exposure to COP in 2008 had been a mutli-billion dollar mistake. Whereas rising commodity prices helped ensure strong earnings numbers for ConocoPhillips and other energy players over the past quarter, the same could not be said for Procter & Gamble ( PG), a Buffett staple. On Thursday, the consumer giant reported strong sales that fell in line with analyst expectations. Any optimism was quickly dashed, however, when the firm presented an overcast outlook. Citing rising cost pressures, P&G slashed its outlook for the quarter ahead, as well as its full-year sales projections. >>View Warren Buffett's Portfolio Buffett-blessed companies in the U.S. saw mixed action this week. Meanwhile, investors learned of some promising news regarding one of the Nebraska native's more unusual foreign investments. During the middle of the week, it was announced that BYD, the battery maker-turned-electric car manufacturer, had begun selling its e6 to Chinese customers. This all-electric crossover has had its share of delays; the vehicle was slated to be available for consumers in 2009.