Top Warren Buffett Stocks Slide On Earnings — But This Giant Pops

Warren Buffett stocks Kraft Heinz (KHC) and DaVita (DVA) slumped on earnings on Wednesday, with SiriusXM (SIRI) and Apple (AAPL) joining their slide on Thursday. But Amazon (AMZN) jumped Thursday after the market close.

All are major holdings in Berkshire Hathaway's (BRKB) equity portfolio, which is valued at more than $300 billion.

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Amazon Stock, Apple Stock

E-commerce giant Amazon beat third-quarter earnings and revenue estimates late Thursday. Notably, the online advertising business and cloud business both grew sales 19%. Amazon stock surged 4.5% in extended Thursday trading. Buffett-led Berkshire Hathaway owns 10 million shares.

Late Thursday, technology titan Apple beat estimates for its fiscal fourth quarter. Sales of the key iPhone product and overall sales both rose by 6%. But Apple stock fell 1% in extended trading. Berkshire owns 400 million shares.

SiriusXM Stock

The New York based satellite radio company delivered a surprise loss for the third quarter, to the tune of $8.74 per share, according to FactSet. Losses, adjusted for asset impairment costs, were 84 cents per share. Analysts were expecting EPS of 77 cents. Revenue also missed, falling 4% to $2.171 billion.

SiriusXM stock shed almost 3% on Thursday, testing the 50-day average.

Earlier in October, Berkshire Hathaway continued to hike its stake in SiriusXM. It's now a top-10 portfolio holding with more than 110 million shares owned, according to filings data tracked by whalewisdom.com.

Kraft Heinz Stock

The ketchup and Jell-O maker slightly beat Q3 earnings estimates. Sales missed for a sixth straight quarter. Kraft Heinz reported weakening demand for certain branded products, notably Lunchables meal kits, after repeated price hikes.

In Wednesday's stock market action, Kraft Heinz stock gapped down 4.1%, not far from August lows. It fell further on Thursday. Berkshire Hathaway owns 27% of shares outstanding.

DaVita Stock

The dialysis facilities operator missed earnings estimates for a second straight quarter. Revenue came in slightly ahead of views. Management reported flat treatment volumes with excess mortality and mistreatment rates among the key issues.

DaVita stock plunged 10.8% in Wednesday's stock market action to test the 200-day moving average. It extended losses Thursday, now decisively below a 147.93 buy point first cleared on Aug. 14. Berkshire owns 43% of shares outstanding.

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Other Top Warren Buffett Stocks On Deck

Chevron (CVX), a top-10 Berkshire holding by number of shares, is due early Friday.

Breakout stock Nu Holdings (NU), another top-10 Buffett holding and growing triple digits, is set to report on Nov. 13.

'Extraordinary' Apple Is No. 1 Warren Buffett Stock

Meanwhile, Berkshire Hathaway has slashed its stake in iPhone maker Apple this year. Despite that, Buffett still owns 400 million shares of Apple stock worth more than $84 billion.

Apple is the top Berkshire holding by market value. It the second-largest holding behind Bank of America (BAC) by number of shares.

The Berkshire chief has called Apple an "extraordinary business" with "indispensable" products. He sold Apple after a massive run for its shares.

Apple stock has continued to advance since then, but closed on Thursday below the 50-day line.

Please follow Aparna Narayanan on X @IBD_Aparna for more coverage.

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