Berkshire Adjustments

Warren Buffett's Berkshire Hathaway has been adjusting its portfolio.It increased its stake in Johnson and Johnson by 3.9 million shares;lowered its stake in United Healthcare by about 2 million shares;added 500,000 more shares of Union Pacific;and also added to its holdings in Burlington Northern,Wells Fargo,U.S. Bancorp and Nalco Holdings.

American Express Reports

American Express(AXP) has reported Q3 earnings of 0.74 a share,versus an estimate of 0.59.Its revenue was 7.16 billion dollars.The firm has set aside significant additions to its loan loss reserves.It aims to reduce operating costs and spending.The company had 1.4 billion in unpaid accounts,which was an increase of 51%.Cardmember spending is likely to remain soft through Q4.AXP is a holding of Omaha billionaire Warren Buffett's Berkshire Hathaway.

Billionaire Buys

Billionaires have been buying stocks.Warren Buffett has increased his stakes in Kraft Foods(KFT),Burlington Northern(BNI) and Ingersoll Rand(IR).Nelson Pelz has bought a stake in Starbucks(SBUX).