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Warren Buffett Invests $5 Billion In Bank Of America; Stock Soars
Shares in Bank of America jumped nearly 25 percent in"premarket trading" this morning after it was reported that billionaire investment guru Warren Buffett is buying a $5 billion stake in the company, The Wall Street Journal's MarketBeat blog writes.
The Charlotte Observer adds that Buffett is "stepping in to shore up the company in the same way he helped prop up Goldman Sachs during the financial crisis."