Warren Buffett Lost $400 Million in One Stock Today

International Business Machines Corp. (NYSE:IBM) is one of the biggest losers today, declining 3.5%. Bloomberg explains this movement as follows:

International Business Machines Corp. (IBM) fell in German trading after the company cited “challenges” at its server unit, said to be targeted by Lenovo Group Ltd. (992), as one reason hardware profit fell last quarter. International Business Machines Corp. (NYSE:IBM)’s revenue declined for a seventh straight quarter amid plunging demand for servers, the world’s biggest computer-services provider said yesterday. The Armonk, New York-based company’s hardware unit had a $750 million profit drop partly because of its x86 server business, Chief Financial Officer Martin Schroeter said on a conference call.

hedge fund research

Marketwatch also published the following about International Business Machines Corp. (NYSE:IBM):

Futures for the Dow Jones Industrial Average DJH4 -0.10%   fell 31 points to 16,324, while those for the Standard & Poor’s 500 index SPH4 +0.05%   eased 1.4 points to 1,837. Futures for the Nadsaq 100 index NDH4 +0.04%   were up 2.75 points to 3,612.25. Weighing on blue chips premarket, shares of International Business Machines Corp. (NYSE:IBM)  skidded 3.5% after the company delivered fourth-quarter revenue and a full-year earnings outlook late Tuesday that fell short of Wall Street hopes.

Some of the hedge funds tracked by Insider Monkey lost big today because of this move. Here are the top 5 hedge funds and their losses today:

1.  Warren Buffett’s  Berkshire Hathaway

Number of IBM shares: 68,121,984

Loss: More than $400 million.

2.  Ken Fisher‘s Fisher Asset Management

Number of IBM shares: 3,146,627

Loss: More than $18 million.

3. Jim Simons‘s Renaissance Technologies

Number of IBM shares: 2,831,400

Loss: More than $16 million.

4. D. E. Shaw’s D E Shaw

Number of IBM shares: 1,974,155

Loss: More than $11 million.

5. Phill Gross And Robert Atchinson’s  Adage Capital Management

Number of IBM shares: 1,521,690

Loss: More than $9 million.

Billionaire Stan Druckenmiller came out recently and revealed a short position in IBM. He must be giddy now!

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