Verizon, Chevron stock gains would add 35 points to the Dow's price, after Warren Buffett buys large stakes

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Shares of Verizon Communications Inc. surged 4.1% and of Chevron Corp. rallied 3.4% to pace the Dow Jones Industrial Average’s premarket gainers, after Warren Buffett’s Berkshire Hathaway Inc. disclosed that it acquired large stakes in the companies during the fourth quarter. The combined implied price gains of those stocks would add about 35 points to the Dow’s price, while Dow futures slipped 18 points, or 0.1%. A filing with the Securities and Exchange Commission late Tuesday showed that Buffett owned 146.7 million shares of Verizon, or about 3.5% of the shares outstanding, and owned 48.5 million shares of Chevron, or 2.5% of the shares outstanding, as of Dec. 31, after owning none of those shares at the end of September.

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