Berkshire Hathaway stock steadies premarket after 5% slide as Abel’s first letter, PacifiCorp risk bite
Berkshire Hathaway’s Class B shares held steady in early premarket trading Tuesday after dropping 4.9% to $480.17 on Monday, following a 30% fall in quarterly operating profit. S&P Global warned it may downgrade Berkshire-owned PacifiCorp to junk status over $50 billion in wildfire liabilities after a $305 million jury award. CEO Greg Abel signaled a cautious approach on buybacks and cash deployment.