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Warren Buffett Makes a Big Bet on Airlines, Shares Soar

During the 3rd quarter, Warren Buffett's Berkshire Hathaway  took stakes in American Airlines AAL, United Continental and Delta Airlines , according to a regulatory filing. Berkshire also made an investment in Southwest Airlines after the quarter ended, according to CNBC. Shares of all 4 airlines gained between 5% and 7% in after hours trading. Buffett has steered clear of airline stocks for decades. Home Depot beat on both earnings and revenue in the recent quarter. It also raised its full year guidance. The results were driven by an increase in both the number of people who made purchases in its stores and the amount that shoppers spent. The Trump team may choose an ex-Goldman Sachs banker as Treasury Secretary. Steve Mnuchin was the Trump campaign's finance director and is being recommended for the cabinet position, according to Bloomberg.

Warren Buffett battling prostate cancer

Berkshire Hathaway Inc's Warren Buffett disclosed on Apr. 17 that he has stage 1 prostate cancer. Buffett said he will begin a two-month treatment consisting of daily radiation treatments starting in mid-July.