Showing posts with label Warren Buffett. Show all posts
Showing posts with label Warren Buffett. Show all posts

Friday, August 26, 2011

Carmaker BYD's shares drop as profit outlook is trimmed

BYD, the Chinese carmaker backed by Warren Buffett, has seen its shares tumble after analysts cut the firm's earnings outlook.

Shares lost 8.2% in Hong Kong, closing near a two-and-a-half year low.

BYD has lost more than a quarter of its market value this week after its earnings fell 89% and it issued a profit warning.