Warren Buffett's Berkshire Hathaway went on a buying spree in shares of broadcasting and radio company SiriusXM. According to regulatory filing on Friday, the sprawling conglomerate in a three-day run picked up shares worth $86.73M, and boosted its total stake in the company to 108.72M shares. SiriusXM shares surged over 8% in overnight trading.
B. Riley Financial Inc. saw its stock price increase by 7% after the company announced an agreement to sell its appraisal and valuation division, Great American, to asset management firm Oaktree Capital for approximately $400 million. This strategic move is expected to streamline B. Riley's operations and provide a substantial cash influx.
Chinese ADRs and ETFs slide in overnight trading with XPeng falling over 6%. China's consumer inflation rate fell in September, while producer price deflation deepened, even as Beijing rolls out more stimulus measures in a bid to revive flagging demand and shaky economic activity.