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A look at the shareholders of Overstock.com, Inc. (NASDAQ:OSTK) can tell us which group is most powerful. Institutions…

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Top news and what to watch in the markets on Monday, July 6, 2020.

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Billionaire investor Warren Buffet's Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B) is buying Dominion Energy Inc.'s (NYSE: D) natural gas assets, the two companies announced Sunday.Berkshire Acquisition Berkshire's energy division will pay $4 billion in cash to Dominion for the purchase.The transaction between the two companies also assumes an existing debt of about $5.7 billion for Dominion's Gas Transmission and Storage Business, giving the deal an enterprise value of $9.7 billion.The assets that Berkshire is purchasing include over 7,700 miles of natural gas transmission lines, with about 20.8 billion cubic feet per day of transportation capacity. It also includes about 900 billion cubic feet worth of gas storage.The Nebraska-based conglomerate holding company increased its cash holdings to a record $137.3 billion during the first quarter this year, as the company held back from new acquisitions during the novel coronavirus (COVID-19) pandemic.The acquisition is expected to close in the first quarter this year, subject to regulatory approval, the statement read.Dominion Kills Atlantic Coast Pipeline Project In a separate statement on Sunday, Dominion, along with partner Duke Energy Corp. (NYSE: DUK), said they were canceling the Atlantic Coast Pipeline project due to "ongoing delays and increasing cost uncertainty which threaten the economic viability of the project."The pipeline has been abandoned even after the favorable United States Supreme Court decision last month. The project has faced major protests from landowners in the pipeline's path and environmental activists."This announcement reflects the increasing legal uncertainty that overhangs large-scale energy and industrial infrastructure development in the United States," Dominion Chief Executive Officer Thomas Farrell said in a statement."Until these issues are resolved, the ability to satisfy the country's energy needs will be significantly challenged."The pipeline that was to run from West Virginia to eastern North Carolina through Virginia was last estimated to cost $8 billion.Price Action Dominion shares closed nearly 0.5% higher at $82.69 on Thursday. Berkshire Class A shares closed 0.2% higher at $267,551, and Class B shares closed nearly 0.5% higher at $178.83 the same day.Duke Energy closed 0.1% lower at $81.84 per share.Image: WikimediaSee more from Benzinga * Saudi Arabia Threatens Another Oil Price War, As Nigeria, Angola Refuse OPEC+ Oil Cuts * Amazon CEO Jeff Bezos's Net Worth Tops Pre-Divorce Height: Bloomberg Index * Apple Blocks Developers From Updating Gaming Apps In China Without Government Approval: Report(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Tesla Inc. (NASDAQ: TSLA) has started taking pre-orders for its Cybertruck in China, its website suggests, as earlier spotted by Reddit user u/aaronhry.What Happened The Palo Alto-based automaker is asking customers to pay $141.8 (CNY 1,000) to make the reservation for the all-electric pickup truck.The full self-driving feature is available as an add-on for the truck at $9,075.8 (CNY 64,00), according to Tesla's website.Tesla unveiled the Cybertruck in November last year, but production isn't expected to begin until late 2022.The Elon Musk-led company saw nearly 250,000 reservations in the United States, where it has been taking $100 deposits, within the first week of launch. Tesla stopped keeping track, but according to third-party data reported by Electrek, the number of reservations has crossed 500,000.Tesla has shortlisted sites for the Cybertruck manufacturing plant, including in Texas and Oklahoma.Price Action The company's shares closed nearly 8% higher at $1,208.66 on Friday. The shares added another 0.4% in the after-hours at $1,213.20.Image: TeslaSee more from Benzinga * Tesla Under Federal Probe Over Fatal Battery Design Flaw * Lyft Resumes Self-Driving Test Rides * Here's How Much Investing ,000 In Bitcoin 5 Years Ago Would Be Worth Today(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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California officials canceled fireworks and closed beaches in some counties this Fourth of July weekend, as the state faced an explosion of new coronavirus cases. California’s early success battling the virus has turned into a crisis. Photo: Getty Images

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Jul.06 — Freddie Lait, chief investment officer at Latitude Investment Management, discusses the current state of markets and where he sees them heading. He speaks on “Bloomberg Markets: European Open.”

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Jul.06 — France already has a new prime minister, but the rest of the government is expected to be announced today, according to AFP citing the presidency. Bloomberg’s Caroline Connan reports on “Bloomberg Markets: European Open.”

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