HP Shares Leap Premarket After Berkshire Hathaway Reveals Stake

By Colin Kellaher

Shares of HP Inc. jumped practically 15% in premarket buying and selling Thursday after billionaire investor Warren Buffett disclosed that his Berkshire Hathaway Inc. funding car had constructed a roughly 11% stake within the expertise firm.

In line with a pair of filings with the U.S. Securities Change Fee, Berkshire holds practically 121 million HP shares, value greater than $4.2 billion based mostly on Wednesday’s closing costs.

Berkshire, which is trying to put a money pile topping $140 billion to work, final month mentioned it will pay $11.6 billion to scoop up insurer Alleghany Corp.

HP shares had been not too long ago altering arms at $39.93, up 14%, in premarket buying and selling.

Write to Colin Kellaher at colin.kellaher@wsj.com

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