Warren Buffett surveys the concourse ahead of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska, May 3, 2024.David A. Grogen | CNBCBerkshire Hathaway shares got a boost after Warren Buffett’s conglomerate reported a surge in operating earnings, but shareholders who were waiting for news of what will happen to its enormous pile of cash might be disappointed.Class A shares of the Omaha-based parent of Geico and BNSF Railway rose 1.2% premarket Monday following Berkshire’s earnings report Saturday. Berkshire’s operating profit — earnings from the company’s wholly owned businesses — skyrocketed 71% to $14.5 billion in the fourth quarter, aided…
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Here are Monday’s biggest calls on Wall Street: UBS upgrades Janus Henderson to buy from neutral UBS said the asset manager is well positioned for growth. ” JHG screens reasonably priced given its potential for double-digit EPS growth and, therefore, presents a compelling entry point as the firm executes on its growth strategy, in our view.” Bank of America initiates Smithfield Foods as buy The firm said the food products company is the “beneficiary of best pork cycle in more than five years.” “We initiate coverage of Smithfield Foods (SFD) with a Buy rating and $28 price objective…” Morgan Stanley…
Yuval Bachar knows data centers. He’s worked on them for Meta, Microsoft and Cisco, but now, his startup is looking to help Silicon Valley run data centers with lower carbon dioxide emissions.ECL, Bachar’s startup, builds hydrogen-powered data centers. Hydrogen is a novel energy source for data centers that is more eco-friendly, and more importantly for tech companies that need to quickly expand their infrastructure, data centers running on hydrogen can be placed into service in half the time that it takes to construct data centers that connect to the grid, Bachar said.There’s one of these hydrogen-powered data centers, with a measly…
Starbucks’ corporate headquarters seen in Seattle. The company announced its Q2 earnings on 27th Apr 2021. Toby Scott | Lightrocket | Getty ImagesStarbucks will lay off 1,100 corporate employees and will not fill several hundred other open positions, the coffee chain’s CEO, Brian Niccol, said Monday.The cuts will not affect workers at the company’s cafes.In a message to corporate employees, Niccol said Starbucks is “simplifying our structure, removing layers and duplication and creating smaller, more nimble teams.””Our intent is to operate more efficiently, increase accountability, reduce complexity and drive better integration,” Niccol wrote. “All with the goal of being more focused…
Tim Cook, chief executive officer of Apple Inc., greets customers during the first day of in-store sales of Apple’s latest products at Apple’s Fifth Avenue store in New York, US, on Friday, Sept. 20, 2024. Victor J. Blue | Bloomberg | Getty ImagesApple plans to open a new factory for artificial intelligence servers in Texas as part of a $500 billion investment in the U.S., the company said Monday.The U.S. technology giant said it would work with partners to launch a 250,000-square-foot server manufacturing facility in Houston to produce servers for Apple Intelligence, its AI personal assistant for iPhone, iPad and…
Frank G. Wisner II, a veteran American diplomat, Washington insider and foreign affairs specialist who relished the prestige of ambassadorial life as much as the back-channel cajoling and arm-twisting of less public influence, died on Monday at his home in Mill Neck, N.Y., on Long Island. He was 86.His son, David, said the cause was complications of lung cancer.Over decades as a member of the policy elite, Mr. Wisner headed embassies in Zambia, Egypt, the Philippines and India, held high office under both Republican and Democratic administrations and was linked to initiatives that wrought change in regions as disparate as…
Nitat Termmee | Moment | Getty ImagesThe Trump administration’s tariff policies may raise auto insurance premiums for motorists, according to a new Insurify analysis. This at a time when drivers continue to see costs soar amid pandemic-era inflation.A 25% tariff on imports from Canada and Mexico — which may take effect as soon as March — would increase annual full-coverage car insurance premiums by 8% to $2,502, on average, by the end of 2025, according to Insurify.It estimates average annual premiums would rise 5% by year-end, to $2,435, without tariffs on Canada and Mexico.Tariffs are expected to make cars and…
Risks are mounting for Rivian Automotive , according to Bank of America analyst John Murphy. The analyst downgraded the electric vehicle maker to underperform from neutral and cut his price target by $3 to $10, which implies 22.9% potential downside for shares. “RIVN remains one of the most viable among the startup EV OEMs and is making progress towards sustainably positive gross margins. However, the 2025 outlook was softer than we had expected and the VW partnership is complicating earnings forecasts for at least the next four years,” Murphy wrote Monday in a note to clients, citing Rivian’s partnership with…
Spend some time looking at trading volumes, and you’ll notice something interesting: A lot of investors recently are making outsized bets on the stock market. Most of them are long bets, but some are short. It’s easy to see this because there is a growing segment of the ETF business that caters to investors who want to make short-term outsized bets on the stock market. These are leveraged and inverse ETFs. Leveraged ETFs amplify the daily returns of an index or stock using financial derivatives. For example, if an index rose by 1% in a day, a 2x leveraged ETF…
Here are the most important news items that investors need to start their trading day:1. Rocky runInvestors hope U.S. stocks will rally after a dismal end to the last trading week. Equities tumbled Thursday and Friday, and the S&P 500 and Nasdaq Composite fell 1.7% and 2.5% for the week, respectively. The Dow Jones Industrial Average also dropped 2.5% in its worst week since October. Earnings from Nvidia, among others, will help to drive the market this week. The personal consumption expenditures index, the Federal Reserve’s preferred inflation measure, is also due on Friday. Follow live market updates.2. Getting chippyNvidia…
