TL;DR

Berkshire shifts to UnitedHealth, Applied Materials drops on weak outlook, Intel surges on US stake talks.

Highlights

• Berkshire Hathaway disclosed a $1.6B stake in UnitedHealth , trimmed Apple by 7%, and exited T-Mobile US ; major hedge funds also rotated into UnitedHealth and chipmakers1.
• Applied Materials posted strong Q3 results but guided Q4 revenue and EPS below consensus; shares fell 11% after hours2.
• Beyond Meat is reportedly preparing for Chapter 11 bankruptcy after a 99% share price decline from its 2019 peak3.
• The Trump administration is in talks to take a government stake in Intel to support domestic chip manufacturing; Intel shares rose 7%4.
• Jefferies’ David Zervos, a potential Fed chair pick, called for an immediate 50bp rate cut, echoing broader market calls for easing7.
• SEC postponed decisions on Bitwise and 21Shares spot Solana ETFs to October, extending regulatory uncertainty for crypto ETF launches6.
• U.S.–Brazil trade tensions escalated with a new 50% tariff on Brazilian exports and visa revocations; Brazil is seeking deeper ties with China and India9.
• Louisiana filed suit against Roblox over alleged child safety failures, increasing regulatory scrutiny on the gaming platform5.
• Senator Lummis revived the BITCOIN Act after Treasury ruled out imminent federal Bitcoin purchases, keeping crypto reserves in legislative focus8.
• A federal judge voided Trump-era directives restricting school DEI programs, preserving access to campus diversity initiatives11.
• LA28 will allow venue naming rights at the 2028 Olympics, a first for the Games, opening new sponsorship revenue streams12.
• Playboy is relocating its headquarters to Miami Beach, reflecting continued corporate migration to South Florida13.

Commentary

Institutional positioning is shifting, with Berkshire Hathaway and several major hedge funds moving capital into UnitedHealth and select chipmakers, while trimming exposure to mega-cap tech names like Apple . This rotation reflects a growing preference for health care and hardware amid ongoing tariff volatility and sector-specific headwinds. The disclosed exits from T-Mobile US and Bank of America further highlight a selective approach to sector risk1.

Semiconductors remain a focal point. Applied Materials ’ strong Q3 was overshadowed by a notably weak Q4 outlook, driven by Chinese demand digestion, export-license delays, and uneven chipmaker orders. This led to the stock’s sharpest post-earnings drop in over two decades2. In contrast, Intel shares rallied on news of potential government investment to boost U.S. chip manufacturing, underscoring the market’s sensitivity to policy support for domestic tech supply chains4.

Macro policy signals are mixed. Calls for immediate Fed rate cuts are intensifying, with Jefferies’ Zervos advocating a 50bp reduction despite persistent inflation pressures. While no immediate action is expected, the debate could influence yield curves and equity sentiment7. In crypto, the SEC’s delay on Solana ETF decisions and revived legislative efforts around federal Bitcoin reserves keep digital assets in a holding pattern, with regulatory clarity a key near-term catalyst68.

Geopolitical and regulatory risks are rising. U.S.–Brazil trade frictions and new tariffs may impact Latin American commodity flows and related equities9. Legal action against Roblox and the preservation of DEI programs add headline risk for specific names but are unlikely to drive broader market moves511. The LA28 naming rights policy and Playboy’s Miami relocation reflect evolving trends in sponsorship and corporate real estate, but have limited direct market impact1213.

Traders should monitor sector rotation into health care and U.S.-centric hardware, chip sector volatility, Fed commentary, and regulatory developments in crypto and trade policy.