(The following story by Evelyn Rusli appeared at Forbes.com on October 30.)
WASHINGTON, D.C. — Warren Buffett is increasing his bet on America. The billionaire investor increased his stake in railroad Burlington Northern Santa Fe by 825,000 shares. In the last few months, Buffett has made a few buys, including a $5 billion investment in Goldman Sachs.
After the bell on Thursday, a raft of companies released their profit reports. In tech, Akamai Technologies, BMC Software and McAfee all topped expectations. Security software maker McAfee said results were boosted by strong North American sales. The company is looking for profits of 50 to 56 cents a share, and at that range, McAfee will likely beat the Street’s call.
But videogame maker Electronic Arts said its loss widened in the last quarter due to higher marketing costs. In response, the company is now cutting 6% of its workforce.
Look out for other market movers on Friday. Burger King, Clorox and Chevron are both expected to report. Chevron should post solid numbers one day after its rival Exxon Mobil released the biggest quarter in U.S. history, with roughly $15 billion in profits.
In terms of economic news, the consumer is in focus. Market watchers get a reading on September’s personal spending before the bell, and the Michigan Sentiment Index is on tap. Economists believe the index slipped to a reading of 55.