Berkshire Hathaway Inc. (BRK.A) Goes Down With S&P Rating

Berkshire Hathaway Inc. (NYSE:BRK.A)Berkshire Hathaway Inc. (NYSE:BRK.A) received a blow on Thursday following a downgrade by Standard & Poor’s. The company’s Class A shares slipped by 0.6% and Class B shares went down by 0.7%, after S&P put the company’s credit rating under degradation.

Berkshire Hathaway Inc. (NYSE:BRK.A) received ‘AA+’ from S&P for its insurance financial strength. The rating company rated Berkshire Hathaway Inc. (NYSE:BRK.A)’s credit lower because of its dependence on core insurance operations, stated an analyst from S&P.

Apple Inc. (NASDAQ:AAPL) compensated to some extent after its fall by 3% in the last session with a rise of +1.77%.

Shares of Tesla Motors Inc. (NASDAQ:TSLA) received a hike of 6%.

Among the other gainers on Thursday are Cisco Systems Inc. (NASDAQ:CSCO), with a 12% increase from yesterday, and Kohl’s Corporation (NYSE:KSS) with a 4.3% increase. Cisco Systems Inc. (NASDAQ:CSCO) showed its third-quarter profits increased by 14% far-exceeding the predictions. Kohl’s Corporation (NYSE:KSS) showed a rise because its pre-share earnings accelerated.

Advanced Micro Devices, Inc. (NYSE:AMD) sank down with a 13.5% reduction in its share value. Goldman Sachs lowered the sell rating of Advanced Micro Devices, Inc. (NYSE: AMD) citing that a year-to-date jump in shares did not match with the real numbers expected of the company.

Another among the worst losers is Celgene Corporation (NASDAQ:CELG) with a 4.7 % fall in its shares, but the Berkshire Hathaway Inc. (NYSE:BRK.A) news is the biggest of the day, by far.

Disclosure: none