U.S. stock futures are lower to close a losing week following the post-election rally; shares of Domino's Pizza (DPZ) and Pool Corp. (POOL) are up in premarket trading after filings showed that Warren Buffett's Berkshire Hathaway (BRK.A; BRK.B) took stakes in the companies; Applied Materials (AMAT) shares are sinking after its quarterly results disappoint; Samsung Electronics shares jump in South Korean trading on a $7.2 billion buyback plan; and Palantir Technologies (PLTR) shares are rising as it shifts its listing to the Nasdaq from the New York Stock Exchange. Here's what investors need to know today.
U.S. stock futures are down as markets look to give back some of the gains following a post-election surge. Nasdaq futures are lower by 0.8%, while S&P 500 futures are down 0.5%, and Dow Jones Industrial Average futures are 0.4% lower. All three indexes are poised to finish the week lower following a record-setting rally last week on the presidential election of Donald Trump. Markets slipped Thursday following comments from Federal Reserve chair Jerome Powell that indicated the central bank could slow its rate-cut schedule if the economy remains strong.
Warren Buffett's Berkshire Hathaway (BRK.A; BRK.B) took stakes in Domino's Pizza (DPZ) and swimming pool supplier Pool Corp. (POOL) in the third quarter while continuing to trim stakes in longtime holdings Apple (AAPL) and Bank of America (BAC). Shares of Domino's are jumping 7% in premarket trading on the development, while Pool Corp. stock is 6% higher. Apple and Bank of America shares are both down less than 1%. The moves, disclosed in regulatory filings on Thursday, show that Buffett continues to build Berkshire's cash holdings.
Shares of Applied Materials (AMAT) are dropping 8% in premarket trading after it reported earnings that missed expectations for its fiscal fourth quarter. The semiconductor equipment maker reported a net income of $1.73 billion, or $2.09 per share, down from $2 billion, or $2.38 per share, last year and short of analysts' consensus estimates from Visible Alpha. Applied Materials also projected first-quarter revenue of $7.15 billion, plus or minus $400 million, below consensus at the midpoint.
Samsung Electronics unveiled plans Friday to buy back 10 trillion won ($7.2 billion) of its shares over the next year, sending its stock soaring 7% in South Korean trading. Samsung said it would buy stock worth 3 trillion won over the next three months starting Monday. Its shares are down more than 30% this year as the memory chip maker and producer of Android phones struggles to catch up to rivals during the artificial intelligence (AI) boom.
Palantir Technologies (PLTR) shares are rising nearly 3% in premarket trading after the analytics software provider said it is shifting its listing to the Nasdaq from the New York Stock Exchange. The company, a favorite of retail investors, said it will transfer the listing of its Class A common shares to the Nasdaq Global Select Market, with trading set to start on Nov. 26. Its common shares will continue to trade under the "PLTR" symbol. "Upon transferring, Palantir anticipates meeting the eligibility requirements of the Nasdaq-100 Index," it said.
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