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Corporate Summary

•    Warren Buffet said his company, Berkshire Hathway (NYSE:BRK.A) has acquired a 5.4% stake in IBM (NYSE:IBM) or around 64 million shares during the first three quarters of the fiscal year

•    Lionsgate UK, a subsidiary of Lions Gate Entertainment (NYSE:LGF) and online movie rental company Netflix (NASDAQ:NFLX) inked a multi-year licensing deal. The deal will allow Netflix to become the exclusive subscription streaming service in Ireland and in UK for first run films from Lions Gate studios

•    Retailer J.C. Penney (NYSE:JCP) reported an EPS of $0.11 per share, higher than the Zacks Consensus Estimate for a loss of $0.12 per share. Revenues for the quarter dropped 4.8% to $3.99 billion

•    According to an Associated Press report, American Eagle Airlines was fined $900,000 for tarmac delays by the Transportation Department. American Eagle Airlines is a subsidiary of American Airlines (NYSE:AMR)

•    Manufacturers of high-performance computing systems Cray Inc.’s (NASDAQ:CRAY) share prices gained 8.47% after University of Illinois said it has awarded a $188 million contract to Cray

•    Boeing (NYSE:BA) expects that demand for airlines in the Middle East will increase by 2,520 airplanes worth $450 billion by 2030. Reacting to the plane maker 's forecast, shares of the company gained 1.52% to $67.94

•    Credit card terminal and payment systems maker VeriFone Systems Inc.’s (NYSE:PAY) shares advanced 8.95% after it announced that it plans to buy Swedish electronic-payments provider Point. The acquisition will enable VeriFone to expand its footprints in Europe

•    Pacific Crest upgraded shares of Acme Packet (NASDAQ:APKT) from "Sector Perform" rating to "Outperform" rating

•    JP Morgan upgraded shares of Allied World Assurance (NYSE:AWH) to "Overweight" rating from "Neutral" rating

•    RW Baird upgraded shares of Amylin Pharmaceuticals (NASDAQ:AMLN) to "Outperform" rating from "Neutral" rating

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