Berkshire Hathaway Inc. rose to a 23-month high after Chief Executive Officer Warren Buffett said the company is expanding with the U.S. economy.
Berkshire’s Class A stock advanced $790 to $125,300 yesterday in New York Stock Exchange composite trading. Berkshire last closed above $125,000 on Oct. 6, 2008.
Buffett, 80, ruled out a second recession for the U.S. and said at a conference this week that businesses owned by Omaha, Nebraska-based Berkshire continue to grow. Berkshire is adding workers as demand rebounds for its machine tools, recreational vehicles and freight space in its railcars. The stock has gained 26 percent this year through yesterday, compared with a gain of less than 1 percent for the Standard & Poor’s 500 Index.
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