Berkshire Hathaway stock rises on earnings beat

Yahoo Finance Live anchors discuss the rise in stock for Berkshire Hathaway after the company reported a beat on earnings.

Video Transcript

JARED BLIKRE: So I want to focus in on a mega-cap that we don't talk about a lot, but it is Berkshire Hathaway. They just reported earnings over the weekend. I'm going to pull up a chart. You can see in the lower portion there-- let me put a net-- let me put the market cap on here. And you can see 642.9 billion. And they are up over 1%. And that is after reporting a beat on operating earnings of $7.76 billion ahead of the Street estimates.

And the oracle of Omaha also deployed a bit of cash, about a billion dollars on share buybacks. And that's more than the 7 billion on buybacks that he spent last year. All around, it was a pretty solid quarter. I think he brought something like $24 billion of treasuries. But he still has $109 billion in cash, as of the end of this September.

So, not necessarily looking for a huge play, though, but let me show you what I'm looking at on the YFi Interactive. So we got 400,000, and this is per share. 400,000 is a big support price. 450,000 is the resistance it's right up against now. And 500,000, we're going to throw that in there, too. That is some psychological resistance for all of those out there playing the air shares. Rachelle.

RACHELLE AKUFFO: And we know that, obviously, that that purchase, those continued purchases of Occidental Petroleum obviously rallying at the moment, as we've seen, obviously, playing a big role in this as well. Is that something that we expect to continue at this point, Jared?

JARED BLIKRE: I think-- well, the speculation is that he could buy the entire company. He got approval to buy up to 50%. He needed that. Now he owns 20%, so could be heading in that direction.