The U.S. stock market saw mixed performance on Tuesday morning, with NextEra Energy and Boeing shares declining while Occidental Petroleum experienced gains.
The Senate hearing follows a January mid-air emergency involving an Alaska Airlines 737 MAX 9, which raised widespread concerns about the plane’s safety. Senator Richard Blumenthal revealed that a current Boeing quality assurance investigator, Sam Mohawk, recently informed the panel of systemic disregard for documentation and accountability of nonconforming parts.
The company has been under increased scrutiny from regulators and airlines since the January incident, with the FAA recently giving Boeing 90 days to develop a comprehensive quality improvement plan.The purchases, made at an average price of $59 per share, bring Berkshire’s total holdings to 255,281,524 common shares, representing almost 29% of the company. The stake, worth approximately $15.37 billion as of Monday, underscores Buffett’s confidence in Occidental Petroleum and the U.S.
The news sent NextEra shares down 3.4% in morning trading. The net proceeds from the sale will be used to fund investments in the company’s energy and power projects, with plans to invest $12 billion in solar and $1.5 billion in battery storage from 2024 to 2027.