Warren Buffett Buys Domino's 🍕

Plus, Applied Materials stock outlook.

November 15, 2024

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Today is Friday, November 15, 2024.

The Early Bird Index today is 80.64.

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Warren Buffett Buys Domino's 🍕

Domino's Pizza (NYSE: DPZ) jumped 7.58% in after-hours trading on Thursday after Warren Buffett’s Berkshire Hathaway (NYSE: BRK.B) bought shares in the company.

Details: Berkshire Hathaway disclosed in a filing that it bought 1.28 million Domino’s shares by the end of September. It also bought a stake in Pool (Nasdaq: POOL), which jumped 5.68% in after-hours trading.

  • By the end of September, Berkshire Hathaway also sold shares in Ulta Beauty (Nasdaq: ULTA). That stock declined by 2.38% in after-hours trading.

Stock Price: Domino's Pizza is up about 5% this year, but lagging behind other stocks.

Early Bird’s Nest Egg Gains: Buffett's stock picks often perform well over the long term.

  • Buffett buys great companies trading at a discount to their intrinsic value and holds them for an extended period.

  • When Buffett buys a stock, it often attracts attention and can lead to short-term price increases as other investors follow his lead.

Final Thoughts: It's not guaranteed that every stock Buffett buys will immediately or always outperform the market. We’ll see how Domino’s performs in the future.

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Notables

Notable Earnings Today: Alibaba Group Holding (NYSE: BABA), Spectrum Brands (NYSE: SPB), AIM ImmunoTech (NYSE American: AIM), Bio-Path Holdings (Nasdaq: BPTH), Nexxen International (Nasdaq: NEXN), WiSA Technologies (Nasdaq: WISA).

Notable IPOs Today: Southside Bancshares, Inc. (NYSE: SBSI), Horizon Space Acquisition II Corp. Units (Nasdaq: HSPTU).

Notable Equity Crowdfunding Campaigns Ending Today: BOARDS: Charcuterie + (Wefunder), Coign (Republic), Arrive (PicMii), SharpMed (Republic).

Notable Economic Events Today: Core Retail Sales / Retail Sales (8:30 a.m. ET), Export Price Index / Import Price Index (8:30 a.m. ET), NY Empire State Manufacturing Index (8:30 a.m. ET), Industrial Production (9:15 a.m. ET), Business Inventories (10:00 a.m. ET).

Applied Materials Posts Weak Outlook

Applied Materials (Nasdaq: AMAT), which makes equipment including semiconductors, fell 5.97% in after-hours trading after posting financial earnings results.

Financials: Applied Materials reported earnings of $2.32 per share in the past quarter and revenue of $7.05 billion; both were better than expected.

Powering the Story: The company’s revenue outlook was not favorable. Applied Materials anticipates revenue in the current quarter to be around $7.15 billion. Analysts expected a higher projection.

Final Thoughts: Applied Materials is up about 20% this year.

XRP’s Strong Thursday

The price of the cryptocurrency XRP surged by about 18% on Thursday.

Details: A major catalyst for XRP's price jump was its official listing on Robinhood (Nasdaq: HOOD) this week. Speculation that SEC Chair Gary Gensler might resign also fueled the rally. Gensler is considered to be an antagonist of crypto. 

Final Thoughts: XRP’s price has gone up 50% in the last 30 days.

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.