The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksGlaxosmithkline Share News (GSK)

Share Price Information for Glaxosmithkline (GSK)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 1,733.50
Bid: 1,732.50
Ask: 1,733.00
Change: 5.00 (0.29%)
Spread: 0.50 (0.029%)
Open: 1,733.00
High: 1,739.50
Low: 1,724.50
Prev. Close: 1,728.50
GSK Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 3-Buffett's Berkshire buys Suncor, Dish as stock bet grows

Thu, 15th Aug 2013 16:59

* Berkshire adds to Wells Fargo, GM; slashes Kraft, Mondelez

* Some investments kept confidential

* Suncor shares rise after Berkshire reveals stake

By Jonathan Stempel and Tanya Agrawal

Aug 15 (Reuters) - Berkshire Hathaway Inc reported new stakes in Suncor Energy Inc and DishNetwork Corp as the company run by Warren Buffett addedbillions of dollars of stock investments.

The changes were disclosed in a U.S. Securities and ExchangeCommission filing made public on Thursday, which detailed $89billion of Berkshire equity investments, mostly listed on U.S.exchanges, as of June 30.

U.S. regulators require large investors to disclose theirstock holdings every quarter, and the disclosures can offer awindow into their strategies for buying and selling stocks.

Berkshire took a 17.8 million-share stake in Calgary-basedSuncor, which is Canada's biggest oil and gas producer and has alarge presence in the Alberta oil sands. That stake was valuedat $524 million at the end of the second quarter.

It also reported a small, 547,312-share stake in Dish, thesatellite TV company run by billionaire Charlie Ergen, valued at$23.3 million on June 30.

Suncor spokeswoman Kelli Stevens declined to comment, sayingthe company does not typically discuss individual investors'holdings. Dish spokesman Bob Toevs also declined to comment.

Shares of companies often rise after Berkshire disclosessizable new investments because investors try to copy Buffett,the world's fourth-richest person according to Forbes magazine.

In afternoon trading, Suncor shares were up 68 cents, or 2percent, at C$34.47. Dish shares were down 29 cents at $44.47.

David McColl, a Morningstar Inc equity analyst in Chicago,said a shortage of pipelines has forced Suncor and rivals tomove more products by rail, but that Suncor has indicated anability to address this problem in the next one to five years.

"Suncor is one of the most heavily undervalued Canadianintegrated oil producers," he said. "It is no surprise that avalue investor like Berkshire Hathaway would view it as aphenomenal investment opportunity."

Berkshire has benefited this year from Buffett's preferencefor investments in businesses and stocks over fixed income,which has been under pressure from rising interest rates.

The Omaha, Nebraska-based company's book value per share,Buffett's preferred measure of growth, grew 7.6 percent fromJanuary to June.

Its largest stock holding, Wells Fargo & Co, grew1.1 percent in the second quarter to 463.1 million shares, equalto a $19.1 billion stake in the fourth-largest U.S. bank.

CONFIDENTIAL TREATMENT

Berkshire spent $4.64 billion on stocks in the quarter. While Buffett has said he makes Berkshire's largest investments,some investments are made by portfolio managers Todd Combs andTed Weschler, who oversee several billion dollars each.

Thursday's filing did not say who bought what, but said thatsome holdings were reported confidentially to the SEC.

Buffett sometimes gets SEC permission to amass big positionsquietly so he need not worry about copycat investors. One ofBerkshire's top holdings, a $13 billion stake in InternationalBusiness Machines Corp, was built in this manner.

Earlier this month, Berkshire said it ended June with $101.9billion of equity securities overall. Its top four holdings -Wells Fargo, Coca-Cola Co, IBM and American Express Co - were worth more than $59 billion as of June 30.

Berkshire also owns more than 80 businesses in such areas asinsurance, railroads, utilities, chemicals, apparel and food.

In recent months, it bought half of ketchup maker H.J. HeinzCo and made several smaller acquisitions.

On Wednesday, its HomeServices of America Inc unit, thesecond-largest U.S. full-service residential real estatebrokerage, said it bought real estate service companiesPrudential Fox & Roach and Trident Group for undisclosed prices.

KRAFT, MONDELEZ SLASHED

During the quarter, Berkshire added to stakes in Bank of NewYork Mellon Corp, automaker General Motors Co,oilfield equipment provider National Oilwell Varco Inc,US Bancorp and Verisign Inc, which assignsInternet protocol addresses. The GM share stake grew 60 percent.

Berkshire slashed its stakes in food companies Kraft FoodsGroup Inc and Mondelez International Inc by 88percent and 92 percent, respectively, and shed its stake innewspaper and broadcasting company Gannett Co.

It also reported lower stakes in drugmaker GlaxoSmithKlinePlc and credit rating company Moody's Corp.

The SEC filing was to have been made public on Wednesday,but the release was delayed by a glitch in the regulator'sfiling system. An assistant to Buffett said Berkshire submittedthe filing prior to Wednesday's deadline.

In afternoon trading, Berkshire's Class A shares were down1.2 percent at $172,711, and its Class B shares were down 1.3percent at $115.08.

More News
2 May 2024 19:57

GSK knew about Zantac cancer risk, attorneys tell jury in first trial

May 2 (Reuters) - U.S. attorneys for a woman who claims her colon cancer was caused by the now discontinued heartburn drug Zantac on Thursday told a jury in Chicago that pharmaceutical companies GSK and Boehringer Ingelheim knew the product could cause cancer if it was not handled properly but failed to warn the public.

Read more
2 May 2024 09:48

LONDON BROKER RATINGS: Deutsche Bank likes TP ICAP but says sell CMC

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

Read more
1 May 2024 19:39

Bird flu testing shows more dairy products are safe, US FDA says

CHICAGO, May 1 (Reuters) - Preliminary results of tests on additional dairy products show that pasteurization inactivates the bird flu virus, the U.S. Food and Drug Administration said on Wednesday.

Read more
1 May 2024 17:31

UK's FTSE 100 slips ahead of Fed outcome, energy stocks weigh

FTSE 100 down 0.3%, FTSE 250 off 0.2%

*

Read more
1 May 2024 16:56

LONDON MARKET CLOSE: FTSE 100 down ahead of US interest rate decision

(Alliance News) - Stock prices in London closed mostly in the red on Wednesday, as investors eye the latest interest rate decision from the US Federal Reserve this evening.

Read more
1 May 2024 16:42

London close: Stocks fall ahead of US Fed decision

(Sharecast News) - London markets closed lower on Wednesday, as investors digested the latest UK manufacturing data and anticipated an impending policy announcement from the US Federal Reserve.

Read more
1 May 2024 11:55

LONDON MARKET MIDDAY: FTSE 100 treads water as Fed takes centre-stage

(Alliance News) - London's FTSE 100 traded off session highs heading into Wednesday afternoon, as some pre-Federal Reserve decision nerves kicked in.

Read more
1 May 2024 10:54

GSK raises profit outlook on strong vaccine, HIV drug sales

FY profit forecast raised to 8-10%

*

Read more
1 May 2024 08:57

LONDON MARKET OPEN: FTSE 100 shakes off New York slump before Fed

(Alliance News) - Stock prices in London opened mixed on Wednesday, with the FTSE 100 brushing off some pre-Federal Reserve decision trepidation to record an early rise, while the dollar climbed on the expectation that Jerome Powell will sound hawkish in his press conference later.

Read more
1 May 2024 08:50

TOP NEWS: GSK expects momentum to continue after strong first quarter

(Alliance News) - GSK PLC on Wednesday raised its annual earnings forecast, and said it expects sales growth at the top-end of guidance, after a "strong" start to the year.

Read more
1 May 2024 07:46

LONDON BRIEFING: GSK ups outlook; Next first-quarter beats forecast

(Alliance News) - Equities in London are called to open flat on Wednesday, ahead of the latest Federal Reserve interest rate decision, while a host of financial markets in mainland Europe and beyond are closed for public holidays.

Read more
1 May 2024 07:36

GSK lifts annual guidance on strong virus treatment sales

(Sharecast News) - UK pharmaceutical giant GSK lifted annual profits guidance on Wednesday, as it pinned its hopes on demand for its respiratory virus and shingles treatments.

Read more
30 Apr 2024 23:46

First trial over Zantac cancer claims set to begin in Chicago

April 30 (Reuters) - The first trial over claims that blockbuster heartburn drug Zantac, once sold by GSK and other companies, causes cancer is set to begin this week in Chicago.

Read more
30 Apr 2024 22:39

First trial over Zantac cancer claims set to begin in Chicago

April 30 (Reuters) - The first trial over claims that blockbuster heartburn drug Zantac, once sold by GSK and other companies, causes cancer is set to begin this week in Chicago.

Read more
30 Apr 2024 13:51

Sensodyne maker Haleon to shut UK factory with loss of 435 jobs

(Alliance News) - More than 400 jobs are to be axed at Sensodyne toothpaste and Advil painkillers firm Haleon PLC as the group revealed plans to shut its only manufacturing site in the UK.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.