Major Players' Reallocations
While investors figured out how to play all the upbeat economic data, the Oracle of Omaha had his hands busy reallocating his investments. Specifically, Warren Buffett's Berkshire Hathaway (BRK) took a $266 million stake in Ulta Beauty (ULTA), and exited its entire stake in Snowflake (SNOW). Elsewhere, activist investor Starboard Value took a considerable stake in Starbucks (SBUX), which replaced CEO Laxman Narasimhan with Chipotle (CMG) CEO Brian Niccol.
More Earnings Reports to Parse
While earnings season is slowing down, there's a few names that reported results this week worth mentioning. Walmart (WMT) hit a record high after its beat-and-raise, and H&R Block (HRB) snagged an all-time peak of its own. Gold stock Barrick Gold (BRK) also popped after a top-line beat, while Cardinal Health (CAH) gapped higher thanks to a quarterly win and upbeat full-year forecast.
Revisiting the VIX's Meteoric Rise
In case you missed it, Senior Quantitative Analyst Rocky White looked back on the last time the VIX crossed above 60, and V.P. of Research Todd Salamone dug deeper into the week's inflation and retail sales data. Investors will now shift their attention to the Federal Open Market Committee's (FOMC) July meeting, as well as quarterly reports from retailers Lowe's (LOW), Macy's (M), and Target (TGT).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
