Dillard’s shares surge after Buffett's protege discloses personal stake

Dillard’s (DDS.US) – stock climbed as much as 19% in pre-market trading on Monday after Berkshire Hathaway (BRKB.US) portfolio manager Ted Weschler revealed an almost 6% stake in the department store chain, according to an SEC filing. Weschler, who helps Buffett manage Berkshire Hathaway's investment portfolio, along with Todd Combs, revealed that his 1.08 million Dillard's shares were worth about $45 million, based on the retailer's closing stock price on Friday. The shares are not a Berkshire investment – they are held in a trust for the benefit of Weschler’s family members.

Dillard’s (DDS.US) stock launched today’s session with a bullish price gap. Buyers managed to break above the strong resistance at $50.50. Should upbeat moods prevail, resistance at $59.94 may come into play. Source: xStation5

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Dillard’s shares surge after Buffett's protege discloses personal stake

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