Shares of Occidental Petroleum opened higher on Monday (although off their highs from overnight) after Warren Buffett's Berkshire Hathaway revealed over the weekend that it had purchased some 61 million shares (worth roughly $3.1 billion) at an average price of $50.87. He apparently bought the shares from Carl Icahn, who has exited the last of his holdings in the oil giant.
Warren Buffett Shares of the US-based oil giant were up more than 2% after the open on Monday after reaching a premarket high of $64 (a gain of roughly 4%). The buys bring Buffett's…Occidental Petroleum Shares Climb As Buffett Buys In, Icahn Sells
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