Alphabet Shares Rise Over 5% After Berkshire Hathaway Discloses Major Stake

Shares of Alphabet Inc. rose by more than 5% in premarket trading on Monday following the disclosure that Berkshire Hathaway Inc. has acquired a significant stake in the technology company. “Alphabet, the parent company of Google, said on Friday that it plans to cut 12,000 jobs, becoming the latest technology company to reduce its work force after a hiring spree during the pandemic and amid concerns about a broader economic slowdown.”