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Charter Communications (NASDAQ: CHTR) trended up early Friday on news that Warren Buffett's Berkshire Hathaway (NYSE: BRK) added 2.3 million shares of the company to his portfolio.
Hathaway also cut its holdings in DirecTV (NASDAQ: DTV) by about a third to 23 million shares and Verizon Communications and boosted its stake in Verizon to 14.9 million shares from 11 million.
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Charter gained about 1 percent in the Friday morning session, recently trading at $57.79. DirectTV fell about a quarter point to $84.24, Verizon dropped slightly to $84.24.
Buffett also boosted his holdings in Verisign (NASDAQ: VRSN) shares to 12.98 million shares from 11.7 million. Verisign traded recently at $56.06 a share, up one percent.
Hathaway's new holding in Charter is valued at $3.7 million.
Charter shares area up 17 percent year to date. Much of that gain came after the company agreed in April to take 39 million customers from Comcast and Time Warner Cable. The agreement enabled a merger of the two larger companies to pass muster with anti-trust regulators after Charter had earlier been outbid for Time Warner by Comcast.
AT&T (NYSE: T) agreed to acquire DirecTV in May for $95 a share but uncertainty about consummating the deal has kept DirectTV trading in the mid-$80s.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.