Warren Buffett buying spree goes on, HP soars on 11.5% stake

By JOSH FUNK
AP Business Writer

OMAHA, Neb. (AP) — Shares of HP gained nearly 15% after Warren Buffett’s company snapped up 11.5% of the company that makes printers and computers over the past week in another uncharacteristic investment for the billionaire in a tech company. Buffett started the year telling his shareholders that he was still having trouble finding anything at attractive prices to invest Berkshire’s nearly $147 billion cash in, but he has since announced an $11.6 billion acquisition of the Alleghany insurance conglomerate and bought more than $7 billion worth of Occidental Petroleum shares. HP shares rose more than $5 to close at $40.06 in the first day of trading since the purchases were disclosed late Wednesday.