Top Midday Stories: Buffett Steps Down as Berkshire Chairman; Soccer Star Mbappe Leaves Nike for On

11:32 AM EDT, 09/18/2026 (MT Newswires) -- The Dow Jones and S&P 500 Index were down in late-morning trading Friday, while the Nasdaq Composite was roughly flat, as Treasury yields were back on the rise, weighing on equities. In company news, Berkshire Hathaway (BRK.A, BRK.B) said Friday that Warren Buffett has stepped down as the company's chairman and has been named chairman emeritus, effective immediately. The board elected Howard Buffett, Warren Buffett's son, as chairman, in line with the company's succession plan, Berkshire said. Berkshire's Class A and Class B shares were each down 0.2% around midday. On Holding (ONON) said Friday it has partnered with soccer star Kylian Mbappe, wjere he will directly work with product teams engaged in testing and developing soccer footwear and apparel. Mbappe, who was previously with Nike (NKE) will also be a global ambassador for On, the company said. On shares were up 0.7%, while Nike shares were down 0.5%. Netflix (NFLX) shares fell Friday morning after Wells Fargo equity analyst Steven Cahall downgraded the company to underweight, citing concerning engagement trends. Cahall said the streaming giant has tried to take on Alphabet's (GOOG, GOOGL) YouTube more directly through a strategy focused on gaming, video podcasts and reality television at the cost of missing out on "watercooler originals." Netflix must have some breakout hits "for the stock to work again," he said. Netflix shares were down 4.4% Viant Technology (DSP) said it, along with a stockholder, decided not to proceed with a previously announced public offering of 8.5 million shares of the company's common stock due to "current market conditions," according to a Friday regulatory filing. Viant shares were up 16.5%.