Économie

Teva shares jump 11 percent after Berkshire reports $ 358 million stake

Teva shares jump 11 percent after Berkshire reports $ 358
 million stake

Teva Pharmaceutical shares jumped 11 percent after Berkshire Hathaway reported at $ 358 million stake.

In a quarterly regulatory filing Wednesday, Warren Buffett conglomerate reported holding 18.9 million ADRs of Teva. After spiking, Teva was still up more than 6 percent in after-hours trading.

Berkshire also reported a 23.3 percent increase in its holdings of Apple shares, to 165 million, and a 21 percent increase in its holdings of the Bank of New York Mellon, to 60.8 million shares.

At the same time, Berkshire has cut its holdings of IBM by 94 percent, to just more than 2 million shares. It also trimmed its Wells Fargo stake by 6 million shares to 458 million, and its stake in General Motors by 10 million shares, to 50 million.

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