Berkshire Hathaway (BRK.B) posted quarterly results that should please its shareholders. In the second quarter, the company earned $13.0 billion in operating earnings on 16% Y/Y growth.
For the first time in a few years, the company reported lower cash on hand. It reported a 2% drop in cash after buying back $4.5 billion of its stock. Manufacturing, service, and retail operations contributed to the operating earnings growth.
SpaceX (SPCX) defied bears, who held too big a short position, with a stunning two-day rally. SPCX stock bottomed below $105. The stock closed at $133.11, up by 15.83% on August 7. Investors continued to treat the company as a multi-decade holding. They are willing to wait for revenue to top $1 trillion by 2029 or 2030.
Airbnb (ABNB) jumped by 17.43% last Friday to close at a new high of $178.07. Shares rose after the company posted gross booking value topping $27.2 billion (+16%).
ABNB stock is rising while Marriott International (MAR) pulled back from over $400 to around $354. Hilton (HLT) is also pulling back, after shares peaked in June. Investors are likely unwinding from the FIFA-related volumes. After the games ended, investors took profits.
Airbnb’s peers include Expedia (EXPE), Booking Holdings (BKNG), and InterContinental (IHG). Investors might consider taking profits in the sector as travel volumes weaken.
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