Berkshire Hathaway Cuts Paramount Global Stake, Exits D.R. Horton
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Warren Buffett’s Berkshire Hathaway Inc. cut its stake in Paramount Global during the fourth quarter, prompting shares of the CBS parent to slide in extended trading Wednesday.
Paramount tumbled 6.7% to $12.31 at 5:02 p.m. in New York after Omaha, Nebraska-based Berkshire disclosed in a filing that it had reduced its stake by 30.4 million shares, or about a third of its previous holding. The stock had dropped 11% this year through the close of regular trading.