📊 PRO: This Week in Visuals
BRK, NVO, CVX, QCOM, ARM, ANET, SONY, MELI, PLTR, ABNB, RACE, MAR, FTNT, TTD, CPNG, SQ, YUM, HSY, NET, HUBS, TTWO, QSR, PINS, EXPE, WBD, DKNG, TOST, AFRM, DUOL, PCOR, Z, MTCH, LYFT, HIMS, DOCN
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Today at a glance:
🦎 Berkshire: Record Cash Pile
🇩🇰 Novo Nordisk: Wegovy Outperforms
⛽️ Chevron: Permian Growth
📲 Qualcomm: Smartphone Rebound
⚙️ AMR Holdings: AI Momentum Builds
🌐 Arista Networks: Conservative Outlook
🖥️ Sony: PlayStation Plus Boost
🤝 MercadoLibre: Profit Dip Amid Expansion
🕵️ Palantir: ‘Unwavering’ AI Demand
🛖 Airbnb: Regional Shifts
🏎️ Ferrari: F80 Supercar Debut
🏨 Marriott: Lingering Headwinds
🔒 Fortinet: Cautious Outlook
📺 The Trade Desk: High Expectations
🇰🇷 Coupang: Farfetch Lifts Growth
🔲 Block: Mixed Signals
🌮 YUM Brands: Taco Bell Stays Strong
🍫 Hershey: Margin Pressure
☁️ Cloudflare: Large-Deal Delays
📢 HubSpot: AI-Powered Expansion
🎮 Take-Two: Strategic Focus Shift
🍔 RBI: Tim Hortons Shines
📌 Pinterest: AI-Fueled Growth
✈️ Expedia: International Boost
🎬 Warner Bros: Studio Struggles
🍞 Toast: Profitability Momentum
👑 DraftKings: Growth with a Catch
☁️ Dynatrace: Sustained Growth
🌈 Affirm: Apple Pay Partnership
🦉 Duolingo: AI-Driven Growth
🏠 Zillow: Rentals to the Rescue
🏗️ Procore: Go-To-Market Evolution
🔥 Match Group: Slow Turnaround
🚘 Lyft: Autonomous Partnerships
💊 Hims & Hers: Weight-Loss Boost
🌊 Digital Ocean: Scaling Innovation
🍽️ Tripadvisor: Core Challenges
🎓 Docebo: New AI Features
1. 🦎 Berkshire: Record Cash Pile
Berkshire Hathaway ended Q3 with a record $325 billion in cash, underscoring Warren Buffett’s challenge in finding attractive acquisition opportunities. For the first time since 2018, the company refrained from share buybacks, as its stock has climbed nearly 30% this year. Additionally, Berkshire trimmed its Apple stake by 25%, reflecting a strategic effort to manage tax implications and rebalance the tech giant's outsized position in its portfolio.
Operating earnings fell 6%, largely due to a 69% decline in underwriting earnings caused by elevated insurance losses, including damages from Hurricane Helene. Despite these headwinds, Berkshire’s diversified business model and growing cash reserves provide resilience and position the conglomerate to capitalize on future opportunities. For now, Buffett seems content to remain patient, letting the cash pile grow while waiting for the perfect deals.
2. 🇩🇰 Novo Nordisk: Wegovy Outperforms
Novo Nordisk posted a mixed Q3. Wegovy sales for obesity were up 81% in constant currency to DKK 17.3 billion or $2.5 billion ($0.2 billion beat), while Ozempic sales for diabetes (and used off-label for weight loss) fell slightly short, growing 26% to DKK 29.8 billion or $4.3 billion ($0.2 billion miss). Despite strong demand, particularly in North America, supply challenges and rebate impacts hindered overall sales growth.
The GLP-1 drugs are still on the shortage list, allowing the proliferation of compounded alternatives. Novo continues to work with regulators to address the safety and supply issues of these copycats. The company slightly narrowed its full-year growth outlook to 23% to 27%, but the FY25 forecast of high-teens growth fell short of the 20% expected. Wegovy’s demand remains robust at 215,000 prescriptions per week, up from 100,000 in January.