Berkshire Hathaway (BRK.A, BRK.B) takes a new 40.1M-share position in Exxon Mobil (XOM), apparently enough to make Warren Buffett's conglomerate the 6th-biggest holder of XOM shares. (13F)
Berkshire also added to existing stakes in Bank of New York (BK), DaVita Health Care Partners (DVA), Suncor Energy (SU), U.S. Bancorp (USB) and VeriSign (VRSN); stakes were lowered in ConocoPhillips (COP), DirecTV (DTV), GlaxoSmithKline (GSK) and Sanofi (SNY).
AIG remains the "king of the hedge fund castle" writes ValueWalk, as Goldman's latest Hedge Fund Monitor shows 69 funds have the stock in their top 10 holdings as of June 30, ahead of #2 Google (GOOG) at 65 and #3 Apple (AAPL) at 50. The percent of equity cap owned by hedge funds is 14% for AIG, as opposed to negligible amounts for both Google and Apple.
Based on percent of equity cap owned by hedge funds, Charter Communications (CHTR) is the #1 hedge fund hotel at 37%. Among S&P 500 stocks, J.C. Penney at 36%, Constellation Brands (STZ) at 30% and H&R Block (HRB) at 26% lead the way. The average for the entire S&P 500 is 5%.
VeriSign (VRSN) could see its business model copied as the Internet domain name landscape is opened up with new suffixes such as .MOVIE, .CASINO, and .BEER set to potentially challenge the domination of .COM. Venture capitalists are backing smaller players in the TLD land rush, while big companies such as Amazon and Google are also looking to win strategic suffixes.
VeriSign (VRSN) announces .net domain registration fees will rise 10% on July 1, 2013, to $5.62 from $5.11. The company's shares were recently clocked thanks to an agreement with the DoC to curtail price hikes for .com domain registrations - their price currently stands at $7.85.
The index-makers at the Nasdaq are good at selling the bottom: The average one-year return of stocks getting kicked out of the Nasdaq 100 (QQQ) is more than 63%, according to Schaeffer's. "You buy low expectations, not low price," says Ryan Detrick. "Getting kicked out of the QQQ probably is a sign things can't get much worse." Full list of the 10 exiting on Monday.
VeriSign (VRSN +1.4%) opens higher after disclosing it has increased the size of its buyback authorization by $458.8M to a cool $1B. That leaves VeriSign free to buy back 17.9% of outstanding shares at current levels. Management mentioned last week it was looking to re-evaluate VeriSign's capital structure, something that had led Wells Fargo to think both buybacks and debt offerings are likely. Following last week's bad news, shares are trading near late-2010 levels.
VeriSign (VRSN +5.1%) recouped some of the giant losses it saw on Friday after Barron'scame to its defense, arguing VeriSign's amended .com domain name registration deal still leaves the company with a high-margin business featuring plenty of visibility. It also noted Wells Fargo's continued bullishness, and conference call remarks about the deal freeing VeriSign to focus on finding ways to monetize its patents.
VeriSign Inc is a provider of internet infrastructure services for the networked world. It provides network confidence & availability for mission-critical Internet services, such as domain name registry services & infrastructure assurance services.