Warren Buffett’s Berkshire Hathaway once again scooped up shares of Sirius XM , hiking its stake in satellite radio company to about 37% of shares outstanding, after a sell-off on disappointing earnings. The Omaha-based conglomerate bought 5 million shares of Sirius XM via separate transactions on Thursday, Friday and Monday, according to a regulatory filing released Monday evening. Berkshire now owns 124.8 million shares, worth about $2.6 billion. Berkshire first invested in Sirius XM after billionaire John Malone’s Liberty Media completed its deal in 2024 to combine its tracking stocks with the rest of the audio entertainment company. It was part of…
Author: usaeverydaylife
President Donald Trump told CNBC on Tuesday that he has narrowed the field of potential future Federal Reserve chairs to four candidates, a list that does not include Treasury Secretary Scott Bessent.While the president did not disclose who is in contention, he revealed that Bessent, previously considered a leading candidate, has taken himself out of contention.”Well, I love Scott, but he wants to stay where he is,” Trump said during a “Squawk Box” interview. “I asked him just last night, ‘Is this something you want?’ [Bessent said], ‘Nope, I want to stay where I am. He actually said, ‘I want…
Nikesh Arora of the United States on the first hole during the third round of The Alfred Dunhill Links Championship at The Old Course on October 02, 2021 in St Andrews, Scotland.David Cannon | David Cannon Collection | Getty ImagesWhen Nikesh Arora was named CEO of Palo Alto Networks in June 2018, the cybersecurity company was valued at about $19 billion and was taking on large networking vendors like Cisco and Juniper, which were building security into their products.Seven years later, Palo Alto’s market cap has expanded by sixfold, driven in part by an acquisition spree that’s seen Arora spearhead…
Russia’s President Vladimir Putin bids farewell to India’s Prime Minister Narendra Modi following their meeting at the Kremlin in Moscow, Russia July 9, 2024. Gavriil Grigorov | Via ReutersRussia on Tuesday weighed into the growing spat between India and the U.S., with the Kremlin saying New Delhi is free to choose its own trading partners.Washington and India’s leadership are at loggerheads over imports of Russian oil, with U.S. President Donald Trump threatening New Delhi with much steeper tariffs if it continues to purchase the commodity from Russia.The Kremlin, an important trading partner of India’s and one which had stayed silent as…
President Donald Trump said Tuesday that the two largest American banks previously rejected him as a customer, reviving claims that conservative clients were being unfairly denied accounts.Trump told CNBC’s “Squawk Box” in a wide-ranging interview that JPMorgan Chase informed him he had 20 days to move “hundreds of millions of dollars in cash” to another bank. He didn’t say when this happened.The president then said he approached Bank of America to “deposit a billion dollars-plus” and was told the bank couldn’t provide him an account, Trump said.”[Bank of America CEO Brian Moynihan] said, ‘We can’t do it,'” Trump said. “So…
Palantir stock popped more than 7% Tuesday after the software analytics provider lifted its full-year outlook, boosted by the artificial intelligence wave.CEO Alex Karp called the earnings results a “once in a generation, truly anomalous quarter” during an earnings call with analysts.”We’re very proud and we’re sorry that our haters are disappointed, but there are many more quarters to be disappointed, and we’re working on that too,” he added.U.S. revenues grew 68% year over year $733 million, while U.S. commercial revenues nearly doubled from $306 million in the year-ago period. Palantir’s U.S. government revenues rose 53% from the year-ago period…
Novo Nordisk is in a tough spot as Ozempic sales lag behind Eli Lilly ‘s rival anti-obesity drugs, according to UBS. Analyst Matthew Weston downgraded the Danish pharmaceutical giant to neutral from buy, and slashed his 12-month price target some 43%, to about $52.55 from nearly $93 previously. The new objective implies roughly 8% upside from Novo’s Monday close in the U.S. of $48.81. Westin’s believes Novo Nordisk’s Ozempic semaglutide injection will not be able to regain market leadership to rival let alone beat Lilly in the GLP-1 space. Novo Nordisk’s market share loss comes even as it has a…
My top 10 things to watch Tuesday, Aug. 5 1. Wall Street was heading for a modestly higher open. Monday’s bounce-back rally after Friday’s weak jobs-driven slump broke a four-session losing streak. Club earnings ahead: Disney is tomorrow morning, with Eli Lilly on Thursday morning and Texas Roadhouse on Thursday night. 2. President Donald Trump told CNBC this morning in a wide-ranging interview that Treasury Secretary Scott Bessent does not want to be chairman of the Federal Reserve. But Trump said four others are in the running. The president also said pharma tariffs could eventually go up to 250% and…
President Donald Trump said Tuesday he will unveil new tariffs on semiconductors and chips as soon as next week.”We’re going to be announcing on semiconductors and chips, which is a separate category, because we want them made in the United States,” Trump said during a lengthy interview on CNBC’s “Squawk Box.”Trump said that that announcement will come “within the next week or so.”Global demand for semiconductors and microchips has skyrocketed as the technology has become integrated in virtually all sectors of the economy, including the booming artificial intelligence industry. Trump revealed the tariff timeline days after he signed an executive…
As demand for energy skyrockets amid the rise of AI, one of Tesla’s co-founders is betting on a new solution: giving old electric vehicle batteries a second-life. JB Straubel, who helped launch Tesla and served as its tech chief until 2019, founded Redwood Materials in 2017 to recycle batteries and build a closed-loop supply chain for EVs. But as Redwood started receiving more EV batteries, the startup noticed that most still had usable capacity. Rather than recycle those batteries, Redwood is now repurposing them for microgrid projects that could provide cheap energy storage for new and existing data centers.”We’re just…
