Buffett Makes Major Sale

By George Banko

February 15, 2023

Good morning Wake-Up Watchlisters! While you’re sipping coffee you’ll see stock futures declined Wednesday. Investors assessed how inflation data from the US and the UK will affect the outlook for interest rates. The CPI data showed prices rose more than the forecast, and UK inflation also remains stubbornly high.

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Here’s a look at the top-moving stocks this morning.

Taiwan Semiconductor Manufacturing (NYSE: TSM)

Taiwan Semiconductor is down 5.11% premarket after it was revealed Warren Buffett sold most of his 60 million shares. The sale represents an abrupt change for Buffett’s firm. Amid US-China political tensions, governments in Washington, Tokyo and Brussels are all pushing TSM to help build local production capabilities. This threatens to drive up costs.

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AirBnB (Nasdaq: ABNB)

AirBnB is up 9% premarket after beating Wall Street expectations in its fourth quarter earnings report and guidance. The home-sharing platform sees first quarter revenue between $1.75 billion and $1.82 billion versus estimates of $1.68 billion. In 2022, Airbnb’s active listing grew by 16% compared to 2021.

Trip Advisor (Nasdaq: TRIP)

Trip Advisor is up 10.31% premarket after the company posted revenue of $354 million in the fourth quarter, which was higher than Wall Street’s expectations of $343.7 million. The report represents an earnings surprise of 220%.

Devon Energy (Nasdaq: DVN)

Devon Energy is down 6.47% premarket after the company announced it sees 2023 capital expenditure reaching $3.6 billion to $3.8 billion. Wall Street was expecting $3.42 billion. The energy company’s fourth quarter core earnings per share of $1.66 came in below expectations of $1.76.