PARA

Paramount Global

25.98
USD
0.85%
25.98
USD
0.85%
23.69 47.45
52 weeks
52 weeks

Mkt Cap 15.79B

Shares Out 607.88M

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Citigroup, Paramount Global stocks jump after Berkshire discloses new stakes

The insurance, investment, manufacturing and retail company acquired 68.9M shares in Paramount Global (PARA), the media and entertainment company. It also bought 7.88M shares of materials company Celanese (CE), which is rising 6.3%; 420K shares in insurer and investing company Markel (MKL), +3.4%, 8.97M shares in Ally Financial (ALLY), now gaining 4.8%, and 2.92M shares of healthcare distributor McKesson (MCK), up 1.9%. Before Tuesday's open, KBW analyst Meyer Shields estimated that Berkshire's (BRK.B) (BRK.A) equity portfolio, as disclosed in its 13F filing, has lost ~$39.0B pretex quarter-to-date, reflecting the broader market selloff. That implies a $21.4B (4.2%) after-tax QTD decline in its Q1 2022 book value per share, Shields said in a note to clients. Berkshire had previously disclosed new stakes in Occidental Petroleum (OXY) and HP Inc. (HPQ) during the quarter.

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