U.S. Movers: Berkshire Hathaway, Marriott, Nvidia, Sherwin Williams

Scott Peters
04 Nov, 2024
New York City

Marriott International declined 2% to $255.30 after the hotel chain operator reported its quarterly results.

Revenue increased 6% to $6.3 billion from $5.9 billion, net income plunged 22% to $584 million from $752 million, and diluted earnings per share fell 18% to $2.02 from $2.51 a year ago. 

The company added a net of 16,000 rooms in the quarter and indicated about 3,800 properties with 585,000 rooms were in the development stage around the world. 

The company also confirmed it acquired 4.5 million shares of common stock for $1.0 billion in the third quarter. 

Berkshire Hathaway Inc. Class B declined 0.3% to $451.0 after the diversified conglomerate reported its quarterly results. 

Total revenue in the third quarter declined to $92.99 billion from $93.21 billion, net earnings attributable to shareholders swung to a profit of $26.2 billion from a loss of $12.7 billion, and diluted earnings per Class B share were $12.18 from a loss of $5.88 a year earlier. 

The company's operating earnings from fully-owned businesses declined 6% to $10.1 billion, reflecting a weakness in its underwriting business. 

Investment in equity securities declined to $271.6 billion from $353.8 billion, and cash and equivalent rose to $325.2 billion from $276.9 billion a year ago. 

Nvidia Corp. jumped 1.7% to $137.65 and Sherwin Williams jumped 5% to $376.32 after the two companies were selected to be included in the Dow Jones Industrial Average, effective November 8. 

Nvidia will replace Intel, and Sherwin Williams will replace Dow Inc. 

Intel has lost about 53% of its value as of Friday's close in 2024, and Dow Inc. has declined 13% in the corresponding period.