Berkshire Hathaway, Bank of America, AeroVironment Inc - AFTER HOURS

As Hurricane Harvey continues to top the general news agenda, Bank of America (NYSE:BAC) was a company in focus after the bell.

Warren Buffett’s Berkshire Hathaway investment giant is now the bank’s largest shareholder, it emerged after hours.

Warren Buffett’s Berkshire Hathaway officially became the biggest shareholder of Bank of America https://t.co/RCyMAYJPnL

— Wall Street Journal (@WSJ) 29 August 2017

But the bank’s shares didn’t move much – adding 0.04% after the bell.

Berkshire announced it had bought 700 mln shares after a warrant exercise at a sharp discount of around $7 each.

Berkshire reportedly now has  stakes of around 6.6% in Bank of America and 10% in Wells Fargo & Co (NYSE: WFC).

Elsewhere, shares in H&R Block (NYSE:HRB) dropped 4% after hours after the tax preparation outfit posted a slightly wider-than-expected loss in its first quarter. The numbers reflected the seasonality of the business, finance chief Tony Bowen said.

However, H&R Block saw revenue rise 10% to $138mln against $125 million a year ago, which beat revenue expectations.

In other news, drone maker  AeroVironment Inc (NASDAQ:AVAV) flew 9% higher after the New York bell as it smashed Wall Street estimates.

The company reported a loss of 19 cents a share, compared with a loss of 34 cents a share expected by consensus. Revenue also showed a beat for the first quarter.

Meanwhile, last but not least, Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI) shares shed 3.34% to $41.86 after hours despite the firm beating the topping second quarter earnings and revenue expectations. The retail chain owner put the results down to a 4.5% increase in comparable sales.

Story by ProactiveInvestors