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Berkshire Hathaway invests $954 million in Capital One as bank executives testify before Congress

Yahoo Finance

Yahoo Finance Live's Julie Hyman discusses Warren Buffett's Berkshire Hathaway investing $954 million in Capital One, shedding shares of regional banks Bank of NY Mellon and U.S. Bancorp, while SVB and Signature Bank executives are set to testify in the Senate on the banking crisis.

Video Transcript

JULIE HYMAN: We've got investment news from Berkshire Hathaway. Warren Buffett's company making a big bet on Capital One Financial, disclosing a $954 million stake late on Monday. The shares are up about 3.2% today.

At the same time, Berkshire exiting regional banks amid the recent turmoil, shedding its remaining shares in Bank of New York Mellon and US Bancorp. Those shares, though, are trading higher here this morning. This is something that he had talked about a little bit at a shareholder meeting. This all coming out, though, in filings that were released late yesterday.

Executives from Silicon Valley Bank and Signature Bank, meantime, will testify in front of the Senate Banking Committee at 10:00 AM Eastern about the failures of their institutions. And we'll talk to Rhode Island Senator Jack Reed. That's at 9:45 AM, just before he heads into those hearings.