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Warren Buffett, CEO of Berkshire Hathaway (Johannes Eisele/Getty)
$325B for BRK.A

Buffett’s Berkshire Hathaway has enough cash to theoretically buy every NFL team

The oracle of Omaha has been selling stocks over the summer, and the company’s coffers are fuller than ever.

David Crowther

Iconic investor Warren Buffett and his loyal lieutenants have been busy over the warmer months, having sold $36 billion worth of stock holdings in Q3, taking the Omaha-based company’s cash pile north of $325 billion — its highest on record. The company’s stake in Apple was downsized significantly, with filings implying that Buffett and co. offloaded roughly one-quarter of the company’s stake in the iPhone maker, the fourth quarter in a row that Berkshire has trimmed its holdings in Apple.

Why is Berkshire selling so heavily? We wouldn’t presume to know exactly what the world’s preeminent investor is thinking, but there’s a saying: “Don’t listen to what people say; watch what they do.” In this case, by holding more than $325 billion in cash and cash equivalents, Buffett and co. are signaling something along the lines of: we don’t think there are a lot of compelling places to invest right now. And with that much money, not many opportunities are out of reach — there are only a few dozen companies in the US that the group couldn’t acquire outright.

Berkshire Hathaway cash pile chart
Sherwood News

For context on just how much cash it is, the world’s richest person spent “just” $44 billion acquiring Twitter in 2022, Starbucks’ market cap is about one-third of the cash pile, and buying America’s largest news organization wouldn’t take more than ~3% of the company’s hoard. It’s also enough to buy every single one of the 32 teams in the NFL at a 50% premium to their current valuation (which are collectively valued at ~$208 billion, per CNBC).

Is Berkshire Hathaway, like Goldman Sachs researchers, bearish on the future of stocks? Well, when choosing between owning shares in the world’s largest company and parking the cash in US treasuries, the world’s most famous investor is opting for the latter... for now.

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GitLab shares soar on earnings and revenue beat

Shares of GitLab soared over 8% in after-hours trading after the company’s quarterly results beat analyst expectations for earnings and revenue.

For FY2027 Q1, the code development and security platform posted:

  • Revenues of $264.2 million (estimate: $254 million).

  • Adjusted earnings per share of $0.23 (estimate: $0.21).

In a press release, GitLab CEO Bill Staples wrote, “The agentic era is creating structural tailwinds for GitLab, and Q1 showed it clearly with accelerating platform activity and promising traction from GitLab Duo Agent Platform.”

As AI eats the software development world, platforms for human coders like GitLab are facing some existential threats. Last month, GitLab shares dropped after it announced a restructuring plan, slashing its country footprint by 30%, and today it confirmed that 350 team members would be cut. The company said it expects the restructing to be complete by the end of FY 2027.

Shares of GitLab were down about 15% year to date heading into the report.

markets

Nuclear stocks gain as federal officials approve plan to restart Three Mile Island

US officials have given Constellation Energy the green light to turn the Three Mile Island nuclear power plant back on.

On Monday night, the Federal Energy Regulatory Commission filed a waiver allowing the company to transfer grid rights from a gas-fired power plant outside Philadelphia to Three Mile Island. The company says that due to the waiver, it aims to restart the nuclear power facility by 2027 in order to supply Microsoft data centers with energy.

Additionally, other nuclear stocks like Oklo, GE Vernova, Energy Fuels, and Cameco Corp. traded higher Tuesday afternoon.

This comes after last weeks Energy Department announcement that it would provide weapons-grade plutonium to five energy startups, including Oklo, to be processed into fuel to generate electricity.

Companies have said these weapons stockpiles are a way to get nuclear reactors fueled quickly as the industry scales.

markets

Victoria’s Secret jumps after posting surging sales and raising full-year outlook

Victoria’s Secret shares are up more than 40% in early trading after the apparel retailer delivered a strong Q1 earnings beat and substantially lifted its full-year guidance. It was a welcome win for the company as it officially changed its stock ticker symbol to VSXY from VSCO on the New York Stock Exchange.

Key numbers:

  • Adjusted earnings per share of $0.60 (compared to analyst estimates of $0.30).

  • Net sales of $1.56 billion, a 15% year-over-year increase (estimate: $1.52 billion).

  • Adjusted operating income of $80 million (estimate: $42 million).

Comparable sales rose 13% during the quarter, beating the estimated 12%. The company said double-digit growth was recorded across its Victoria’s Secret, PINK, and Beauty brands, as well as across stores and direct and international channels.

Buoyed by the strong momentum, management raised the retailer’s full-year guidance. Victoria’s Secret now projects full-year net sales to reach between $7.03 billion and $7.13 billion, up from a previous cap of $6.95 billion. Adjusted operating income is now anticipated to land between $550 million and $580 million, a jump from the previously projected range of $430 million to $460 million.

“Our customer responded strongly to our product innovation, emotionally resonant storytelling, and distinct brand projection, driving double-digit growth in new customer acquisition, increased regular-price selling, and broad-based strength across categories, channels, and geographies,” CEO Hillary Super said in a statement. “These results reflect the progress we are making against our Path to Potential strategy as we continue to strengthen customer connection, build brand heat, and drive sustainable long-term growth.”

The company’s “Path to Potential” transformation strategy was launched to right-track the business after a multiyear stretch of declining sales and cultural scrutiny. The changed ticker also signals a fresh corporate chapter under Super, who is steering the retailer through a major brand turnaround.

markets

Dollar General posts Q1 EPS beat and boosts guidance, though revenue misses slightly

Dollar General reported mixed first-quarter results, pairing an earnings beat and a boosted full-year profit forecast with a slight revenue miss.

Key numbers:

  • EPS of $2 (compared to analyst estimates of $1.90).

  • Revenue of $10.79 billion (estimate: $10.83 billion).

  • Same-store sales growth of 2% year over year.

Shares of the company fell 2.1% in early trading, reversing the gains they had made premarket.

Buoyed by the bottom-line strength, Dollar General also raised its fiscal 2026 profit outlook, now forecasting full-year earnings per share to land between $7.20 and $7.45, up from its previous guidance of $7.10 to $7.35. Meanwhile, management reiterated its full-year same-store sales growth target of 2.2% to 2.7%.

Management noted that the retailer’s increase in profit was boosted by contributions from new stores and growth in same-store sales, partially offset by the impact of store closures.

Heightened economic uncertainty, ongoing US import tariffs, and rising gas prices tied to the Iran war could also be weighing on everyday households’ purchasing decisions, causing them to pull back on spending in general or trade down to more affordable basic essentials.

“Our topline results were highlighted by positive customer traffic and balanced category growth,” Todd Vasos, Dollar General’s CEO, said in the press release. “Looking ahead, we believe the essential nature of our offering and our expansive footprint position us well to navigate the current macroeconomic environment.”

Shares of Dollar General are down more than 20% year to date.

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