Stock Market Today: Indexes Pull Back to Begin New Trading Week; Memory Shares Outperform

Berkshire Hathaway Boosted Its Alphabet Stake 83%—Buffett Said the Investment Was His Idea

FROM Just Now

Warren Buffett may have stepped down as CEO in January, but Berkshire Hathaway has dramatically increased its bet on a stock that he began.

Berkshire (BRK.A, BRK.B) grew its stake in Alphabet (GOOG, GOOGL), Google’s parent company, by 83% in the second quarter, according to a 13F portfolio disclosure filed after the close Friday. The position—roughly 106 million shares worth about $37 billion—became Berkshire’s third-largest stock holding, behind only Apple (AAPL) and American Express (AXP).

“I initiated it,” Buffett, now chairman, told CNBC last month when asked whose idea the Alphabet purchases were. He added that new CEO Greg Abel has the last word. “We talk all the time, but he is the decider.”

Much of the increase in Alphabet shares came from a $10 billion direct purchase, part of an $85 billion equity raise Alphabet completed in June to fund its AI infrastructure buildout. Berkshire’s stake is growing fast. It held about 18 million Alphabet shares when the position first surfaced in the third quarter of 2025. By June 30, it held nearly six times that.

–Peter Gratton

Nike Shares Hit 52-Week Low

FROM 29 minutes ago

Nike stock has declined steadily for six months now.

Nike (NKE) is the worst-performing stock in the Dow Jones Industrial Average on Monday, with shares down 4.5%.

The stock hit a 52-week low of $38.86 and is down about 39% since the start of the year. Shares hovered near the flat line for 2026 until the end of February but have been in the red since, as worries about the progress of CEO Elliott Hill’s turnaround plan since he took over in late 2024 have weighed on the stock.

The company did not appear to issue a press release or regulatory filing today.

Nvidia Is Only Magnificent Seven Stock in Green Today

FROM 1 hr 18 min ago

The Nasdaq Composite may be slightly higher Monday, but most of the biggest stocks on the index are having a poor start to the week.

Nvidia (NVDA) is the only one of the Magnificent Seven mega-cap tech firms to trade in positive territory today, with shares are up less than 1%.

Meta Platforms (META) and Microsoft (MSFT) are leading the septet lower with respective declines of about 3.5% and 2.5%.

The Roundhill Magnificent Seven ETF (MAGS) is down more than 1%.

Communication Services, Consumer Staples Sectors Lead S&P 500 Lower

FROM 2 hr 25 min ago

The S&P 500 is down about 0.1% in late-morning trading Monday, with technology shares unable to fully counter broad-based declines.

Seven of the 11 sectors tracked by the benchmark index are in the red, with Communication Services and Consumer Staples down more than 1%, and Utilities and Real Estate down nearly 1%.

The S&P 500 Information Technology Sector is up 0.6% to lead gains.

Consumer Staples component Constellation Brands (STZ) is the worst-performing stock in the S&P 500 with a 5% decline, while Information Technology component Sandisk (SNDK) leads gains at 10%.

Constellation Brands Stock Drops as Berkshire Exits Stake

FROM 3 hr 12 min ago

After markets closed Friday, Berkshire Hathaway revealed in a regulatory filing that it had exited its position in Constellation Brands. Shares of the beer giant are sinking Monday morning.

Constellation Brands (STZ) is the worst-performing stock in the S&P 500, with shares down more than 5%, after Berkshire’s Form 13F filing indicated it had sold its 632,890 shares of the Modelo maker that were worth nearly $95 million at the end of the prior quarter.

With today’s decline, Constellation Brands shares now are in negative territory for 2026.

Memory Stocks Lead Gains

FROM 4 hr 1 min ago

The AI trade is off to a strong start to the week as several hardware makers are among the market’s top gainers.

Shares of Sandisk (SNDK) were up 7% in early trading, while data storage rivals Western Digital (WDC), Micron Technology (MU), and Seagate Technology (STX) gained roughly 6%, 4, and 2%, respectively. All are components of the Roundhill Memory ETF (DRAM), which advanced 5%

Other chipmakers also are in the green this morning, with Marvell Technology (MRVL) and Intel (INTC) up a respective 6.5% and 1%, helping the broader iShares Semiconductor ETF (SOXX) rise 2%.

While investors have been concerned about the possibility of an AI bubble, many are still betting on chip stocks, with high demand for their hardware boosting sales and profits to record highs in recent quarters.

–Aaron McDade

Harvard Has a New Biggest Stock Holding: SpaceX

FROM 4 hr 56 min ago

Harvard Management Company, the firm that manages the university’s massive endowment, reported a new largest stock holding in its latest quarterly filing released after markets closed Friday.

The new addition to the filing is SpaceX (SPCX), of which Harvard holds a stake of just under 13 million shares, valued at over $2.2 billion at the time of the filing.

The rocket, AI, and connectivity company that went public in June received investments from a number of universities over its years as a private company, according to Bloomberg, with Harvard and others reporting the sizes of their stakes now that the company is public.

SpaceX shares, which have gained 33% from the record low they hit two weeks ago, were little changed at $140 ahead of the opening bell.

–Aaron McDade

L3Harris Replaces CEO After It ‘Became Aware of Certain Conduct’

FROM 5 hr 47 min ago

L3Harris Technologies says it “became aware of certain conduct” by CEO Christopher Kubasik that was “not consistent with the values of the Company as outlined in its Code of Conduct.” Now he’s out, and the stock is slipping.

Shares of L3Harris (LHX) are declining 2.5% in premarket trading Monday after the defense contractor announced that Kubasik had stepped down and was being replaced by company executive Sam Mehta, effective immediately.

L3Harris said Kubasik’s “conduct was unrelated to the Company’s financial reporting, controls, customer relationships or operational performance.” The Melbourne, Fla.-based firm added that after an investigation, its board decided to enter into a separation agreement with its chief executive.

“Chris has overseen significant transformation during his tenure at L3Harris, and he has built a strong team to carry the business forward,” the firm said. “However, our values guide the actions we take each day as The Trusted Disruptor and are at the center of everything we do. The Board and Chris have agreed that implementing our succession plan today is the right thing to do. We thank him for his service.”

L3Harris stock entered Monday down less than 1% this year.

Bank of America Sees Bargains in These 16 Knocked-Down AI Stocks

FROM 6 hr 20 min ago

A pullback in the AI trade has created opportunities for bargain-hunting investors, according to analysts at Bank of America. 

The analysts in a recent note named 16 companies that—despite upward earnings revisions—have recently suffered more than 20% drawdowns from their 52-week highs, offering what they called “attractive medium-term upside.” Though AI spending by America’s biggest tech giants is seen peaking this year, according to the analysts, growth rates for the companies in their list “are expected to remain strong” into 2027.

There have already been some signs of sentiment starting to shift back toward the AI trade. Chip stocks flirted with the start of a new bull market Thursday before sliding amid a broader pullback Friday. Memory chip leader Micron Technology (MU) and chip equipment maker Lam Research (LRCX) were some of Bank of America’s picks, as well as hard drive maker Seagate (STX). Though they’ve pulled back from their highs recently, all three remain among the S&P 500’s top performers this year.

Meta (META) made the list too, with BofA saying it believes the Street underappreciates the company’s “ability to monetize its growing capacity assets” and its growing ad revenues. The social media giant is reportedly in talks to lease extra compute to Anthropic. Its shares are down roughly 10% year-to-date and have lost about a quarter of their value from their highs last August. 

Read the full article here.

–Kara Greenberg

Stock Futures Mixed After S&P 500, Nasdaq Notch 3rd Straight Week of Gains

FROM 7 hr 7 min ago

Futures contracts tied to the Dow Jones Industrial Average were down 0.1%.

S&P 500 futures pointed up 0.1%.

Nasdaq 100 futures advanced 0.5%.