Warren Buffett's Berkshire Hathaway has increased its bet on General Motors, adding 10 million shares in the last three months of last year. The total stake is now worth $694 million.
Check out which companies are making headlines after the bell Thursday:
Some of the names on the move ahead of the open.
Warren Buffett's Berkshire Hathaway has eliminated almost all of its stakes in Johnson & Johnson and General Electric.
PORTLAND, Ore.-- Precision Castparts Corp. said Thursday its fiscal second-quarter net income rose 13 percent on demand for commercial airplane parts and the benefit of recent acquisitions. The company earned $332.7 million, or $2.29 per share, compared with $294.7 million, or $2.07 per share, a year earlier.
MILAN, Oct 12- Foreign investors have bought 70 percent of a 150 million-euro exchangeable bond issued by Italian holding company Camfin to repay debt, a source close to the matter told Reuters on Friday. The five-year bond is convertible into shares of tyre maker Pirelli, which is controlled by Camfin.
*Bond exchangeable into Pirelli shares. MILAN, Oct 12- Italian holding company Camfin, which controls Pirelli, has sold a well-received 150 million euro bond exchangeable into the tyremaker's shares. Pirelli shares, up 36 percent this year, were down 0.8 percent to 8.78 euros by 1320 GMT, while Camfin shares were down 4.4 percent to 0.4690 euro.
MILAN, Oct 12- Italian holding company Camfin, which controls tyremaker Pirelli, placed the entire amount of a fixed-rate 150 million euro bond convertible into Pirelli shares, said a person familiar with the matter. "The market was very receptive," said the person. "
*Bond is convertible into Pirelli shares. MILAN, Oct 12- Italian holding company Camfin, which controls tyremaker Pirelli, said on Friday it launched a fixed-rate 150 million euro bond convertible into Pirelli shares to pay back Camfin debt.
MILAN, Oct 12- Shares in Camfin, the parent company of tyremaker Pirelli, extended gains to rise nearly 5 percent in Milan in early trade on Friday. Camfin said on Friday it launched a fixed-rate 150 million euro bond convertible into 5.85 percent of Pirelli shares.
MILAN, Oct 12- Italian holding company Cafmin, which controls tyremaker Pirelli, said on Friday it launched a fixed-rate 150 million euro bond convertible into 5.85 percent of Pirelli shares. The Pirelli shares to be converted will be supplied by Camfin and will not therefore be newly issued.
The governor of Lombardy refused to resign over a widening graft scandal on Thursday but said he would appoint a new government for Italy's wealthiest and most populous region, adding to political disarray six months from general elections.
HUNTINGTON, W.Va.-- Specials Metals Corp. has laid off more than 80 workers in Kentucky and West Virginia. Special Metals' parent, Precision Castparts Corp., announced the layoffs Monday. Precision Castparts spokesman Dwight Weber attributes the decision to adverse market conditions.
MILAN, Oct 8- The board of loss-making Italian real estate group Prelios will meet on Thursday, a person familiar with matter said, as it seeks to secure a rescue deal after being brought low by writedowns on property investments in a weak economy.
TELECOM ITALIA, TELECOM ITALIA MEDIA. Cairo Communications could present an offer for Telecom Italia Media, La Repubblica said on Saturday. Talks between Prelios and two rival bidders for a stake in the real estate company, Italian investment firm Feidos and U.S. asset manager Fortess, resume on Monday, Il Sole 24 Ore said on Sunday.
TELECOM ITALIA, TELECOM ITALIA MEDIA. Cairo Communications could present an offer for Telecom Italia Media, La Repubblica said on Saturday.
New car sales in recessionary Italy plunged 25.7 percent in September from the same month a year ago to 109,178 vehicles, Italy's Transport Ministry said on Monday.
MILAN, Oct 1- Contacts have been made with Italian and foreign investors interested in taking a stake in tyre maker Pirelli's main shareholder, Camfin, though nothing concrete is on the table, a holding company of the Pirelli chairman said on Monday.