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Berkshire profits rebound as insurance earnings, stocks surge

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Following news of landmark profits by Berkshire Hathaway, GEICO’s parent company, stocks jumped Monday morning to near record highs.

According to the Associated Press, Berkshire Hathaway said Saturday that its profits surged to hit $24,755 per Class A share. A year ago, the company recorded a loss of $43.6 billion, or $29,633 per Class A share, when the value of its biggest investments fell.

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