Alphabet Leads Big Tech Gains, Dell Falls, StubHub Sinks
Description
On this episode of Stock Movers:
- Alphabet (GOOG) shares are rallying on news that Warren Buffett’s Berkshire Hathaway acquired 17.9 million shares in the Google parent during the third quarter. Buffett, 95, who plans to step down as chief executive officer at year-end, has been finding ways to deploy some of Berkshire’s cash pile, which rose to a record $382 billion at the end of the quarter
- Dell (DELL) shares are sliding after Morgan Stanley downgraded it due to sluggish demand. Shares of Dell declined nearly 10% during trading on Monday.
- StubHub (STUB) and Live Nation shares declined after Financial Times reports that the UK plans to ban the resale of tickets for live events above their original cost. According to analysts at Bloomberg Intelligence, the potential move would "be a dramatic step to combat scalping, given prior proposals were for a cap at 30% above face value. Yet the move would likely have a limited effect on platforms like StubHub and Vivid Seats, given the vast majority of their transactions are in North America."
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