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☆ Americans have spent their savings. Economists worry about what comes next
▼ + stars: | 2024-05-07 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

But now that extra spending money is gone, economists are concerned about what comes next. That means many Americans have more debt than savings and suggests “that American households fully spent their pandemic-era savings as of March 2024,” they wrote in a recent report. Consumer spending plays a crucial role in driving economic growth in the United States, and it has shown remarkable strength over the past two years. “A continuing strong labor market could help consumers maintain spending patterns similar to those observed recently, even without pandemic-era savings,” they wrote. What comes next: Disney, Airbnb, Uber, Anheuser-Busch, Tapestry and Dillards all report later this week — investors will look for any comments about how consumer spending, or lack thereof, is altering revenue forecasts for 2024.

Persons: Hamza Abdelrahman, Luiz Edgard Oliveira, ”, Austan Goolsbee, ’ ”, Fitch, Sarah Wyeth, Chris Kempczinski, Abdelrahman, Airbnb, Warren Buffett, Berkshire Hathaway, Greg Abel, Buffett, “, Abel, isn’t, Boeing “, Scott Stocker, Read Organizations: CNN Business, Bell, New York CNN, San Francisco Federal Reserve, Chicago Federal, Society for, ”, Shoppers, Tyson Foods, “, Disney, Anheuser, Busch, Berkshire, International Monetary Fund, Industries, Nvidia, Microsoft, FAA, Boeing, Federal Aviation Administration, CNN Locations: New York, United States, Omaha , Nebraska, Omaha, scamming

☆ Buffett's Berkshire Hathaway gains as insurance lifts first-quarter profit and cash nears $200 billion
▼ + stars: | 2024-05-06 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Those moves come after Berkshire posted first-quarter operating profit of $11.22 billion, up 39% from the year-ago period, mainly driven by an increase in insurance underwriting earnings. Insurance underwriting earnings rose to $2.598 billion, a 185% increase from $911 million in the year-earlier quarter. Geico earnings swelled 174% to $1.928 billion from $703 million a year prior. Cash soared to a record $188.99 billion in the first quarter, up from $167.6 billion in the fourth quarter. "We had much-improved earnings in insurance underwriting.

Persons: Warren Buffett, Martin, Cash, Buffett, Berkshire Hathaway, Brian Meredith, Edward Jones, James Shanahan Organizations: Berkshire Hathaway, Berkshire, UBS Locations: Omaha , Nebraska, Berkshire

☆ 'Twist' in Warren Buffett's succession plan raises eyebrows among Berkshire's Omaha faithful
▼ + stars: | 2024-05-06 | by ( Yun Li | ) www.cnbc.com time to read: +5 min

OMAHA, Nebraska — Many Berkshire Hathaway shareholders left last weekend's annual meeting pondering Warren Buffett's big revelation about succession. Others think Abel will be more likely to delegate the responsibility of stock selection. Buffett's investment lieutenants, Todd Combs and Ted Weschler, have independently managed about $15 billion each for Berkshire over the past decade. In addition to Berkshire's enormous equity portfolio, its pile of cash grew to nearly $189 billion at the end of March. The new forecast would translate into more than 20% upside and push Berkshire's total market value above $1 trillion.

Persons: Warren Buffett's, Greg Abel, Buffett, Greg, Abel, Todd Combs, Ted Weschler, Buffett hasn't, Combs, Bill Stone, Charlie Munger, who's, he's, Bueffett's, Cathy Seifert, Brian Meredith, Meredith, — CNBC's Michael Bloom Organizations: OMAHA , Nebraska —, Berkshire Hathaway, Saturday, Madison Investments, CNBC, Geico, Glenview Trust, Berkshire Hathaway Energy, UBS Locations: OMAHA , Nebraska, Omaha, Berkshire, Toyama, UBS Berkshire

☆ Warren Buffett compares AI to nuclear weapons in stark warning
▼ + stars: | 2024-05-06 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +5 min

At his annual shareholder meeting in Omaha, Nebraska, the 93 year-old co-founder, chairman and CEO of Berkshire Hathaway issued a stark warning about the potential dangers of the technology. “We let a genie out of the bottle when we developed nuclear weapons,” he said Saturday. JPMorgan Chase, the world’s largest bank by market capitalization, is also exploring the potential of generative AI within its own ecosystem, Dimon said. Dozens of AI industry leaders, academics and even some celebrities have signed a statement warning of an “extinction” risk from AI. “Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear war,” the statement said.

Persons: New York CNN — Warren Buffett, Berkshire Hathaway, ”, Greg Abel, Buffett, “, Abel, isn’t, Buffett Buffett, JPMorgan Chase, Jamie Dimon, Dimon, Jeffrey Sonnenfeld, Sonnenfeld, Doug McMillion, James Quincy, Sam Altman, Geoffrey Hinton Organizations: New, New York CNN, Berkshire, International Monetary Fund, Industries, Nvidia, Microsoft, scamming, JPMorgan, JPMorgan Chase, Software, Yale, Summit, CNN, Walmart, Xerox, Google Locations: New York, Omaha , Nebraska, Omaha, scamming

In this article BRK.A Follow your favorite stocks CREATE FREE ACCOUNTWarren Buffett walks the floor ahead of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2024. The death of Munger last year brought the question of succession to the forefront of many investors' minds at this year's shareholders meeting. Warren Buffett and Greg Abel during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024. At the 2015 meeting, for example, he observed, "Warren, if people weren't so often wrong we wouldn't be so rich." Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024.

Persons: Warren Buffett, David A, CNBC Warren Buffett, Charlie Munger, Munger, Buffett, Greg Abel, Ajit Jain, Berkshire Hathaway, he'd, Abel, Greg, CNBC Abel, that's, Munger's, Warren Organizations: Berkshire, Grogen, CNBC, Berkshire Hathaway, Berkshire Hathaway Energy, Oracle Locations: Omaha , Nebraska, mull, Berkshire, Omaha

☆ Earnings will drive the market next week — what we expect from 2 portfolio stocks
▼ + stars: | 2024-05-04 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

With the Fed, Apple earnings and the jobs report passing with flying colors this week, the runway to more gains looks a lot less cluttered. This past week was chock full of Club earnings: 12 portfolio companies, including Apple , delivered results. Analysts expect Wynn's earnings per share of $1.27 versus 29 cents a year ago when China was not fully back from Covid. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jerome Powell, we're, Jim Cramer, Jim, Apple, Eli Lilly, Estee Lauder, Stanley Black, Decker, Bausch, FactSet, It's, Bob Iger, Iger, Nelson Peltz, We're, Krystal, Berkshire Hathaway, Tyson, Jones Lang, Walt, Ferrari N.V, WK Kellogg, Wynn, Vishay, CRON, MARA, RICK, Ginkgo, Jim Cramer's, David Paul Morris Organizations: Federal Reserve, Apple, GE Healthcare, DuPont, Linde, Bausch Health, Coterra Energy, Club, Disney, Wynn Resorts, CNBC, Revenue, Vegas Sands, Cotai, Boston, Airlines, Krystal Biotech, Alpha Metallurgical Resources, Axsome Therapeutics, Tyson Foods, TSN, Bowlero Corp, CNA Financial Corp, CNA, Jones Lang LaSalle Incorporated, Technologies, Realty Income Corp, Lab, Teradata Corp, Technology, FMC Corporation, FMC, Paymentus Holdings, Shockwave, Vertex Pharmaceuticals, Goodyear Tire & Rubber Company, Simon Property Group, Sterling Construction Company, Apple Hospitality, Boise Cascade Corporation, BellRing Brands, Coty, COTY, Fidelity National Information Services Inc, Vornado Realty, Walt Disney Co, Holdings, Madrigal Pharmaceuticals, Nikola Corporation, BP, Rockwell Automation, MarketAxess Holdings, Jumia Technologies, GEO Group, Builders FirstSource Inc, Duke Energy Corp, WYNN, Rivian Automotive, Arista Networks, Occidental Petroleum Corp, Astera Labs, Bros, Flywire Corporation, B2Gold Corp, Kinross Gold Corp, Virgin Galactic Holdings, iRobot Corp, Electronic Arts Inc, McKesson Corp, ACM Research, Avadel Pharmaceuticals, Toyota Motor Corp, Emerson Electric Co, Perion, Editas, Brink's Company, Sinclair Corporation, New Fortress Energy, Starwood Property Trust, Animal Health, ELAN, Farms, IM Cannabis Corp, Fox Corporation, Formula One, Icahn Enterprises, Teva Pharmaceutical Industries, Arm Holdings plc, ARM, AMC Entertainment Holdings, Trade, AppLovin Corporation, Sciences Corp, SolarEdge Technologies, Roblox Corporation, GigaCloud Technology Inc, Warner Bros ., Properties Trust, Growers, Constellation Energy Group, Cronos, Fiverr, Solar Inc, EPAM Systems, Cedar Fair Entertainment, Digital Holdings, RCI Hospitality Holdings, Akamai Technologies, Semiconductor, Insulet Corp, NuScale Power Corporation, Ginkgo Bioworks Holdings, Bloom Energy Corporation, Construction, AMC Networks, CRH Public Ltd . Company, Jim Cramer's Charitable, Allen, Co . Media, Technology Conference, Bloomberg, Getty Locations: China, Eaton, Amazon, Covid, Macao, Vegas, Sun Valley , Idaho

☆ Warren Buffett holds first Berkshire Hathaway meeting without Charlie Munger
▼ + stars: | 2024-05-04 | by ( Nicole Goodkind | Eva Rothenberg | ) edition.cnn.com time to read: +3 min

Buffett will appear for the first time without his longtime business partner and friend Charlie Munger, who died in November. In 1978, Munger joined Berkshire Hathaway as vice-chairman and sat by Buffett’s side, quick with a quip or a sage piece of advice. Berkshire’s operating profits are expected to increase by 21% to $6,702 per Class A share, according to the FactSet estimates. Berkshire Hathaway reported a significant uptick in fourth-quarter operating earnings, which totaled $8.5 billion, up from $6.6 billion, or a 28% increase from a year ago. For the year, operating earnings rose to $37.3 billion, after setting a record of $30.8 billion in 2022.

Persons: Warren Buffett, Buffett, Charlie Munger, Greg Abel, Ajit Jain, Munger’s, Munger, ”, “, Charlie, Berkshire Hathaway, “ Charlie, Abel, Greg, ” Buffett, “ Greg Organizations: New, New York CNN, Berkshire Hathaway, Oracle, “, Berkshire Locations: New York, Woodstock, Nebraska, Berkshire, Omaha, “ Berkshire, The Omaha , Nebraska

☆ 4 lessons for success from Berkshire shareholders' best Buffett and Munger stories
▼ + stars: | 2024-05-04 | by ( Ryan Ermey | ) www.cnbc.com time to read: +4 min

Around these parts, the honchos at Berkshire do have one key thing in common with Murray: everyone who's met them seems to have a story. Just about everyone who had encountered one of the Berkshire luminaries shared some of the wisdom they imparted. Indeed, it's advice that Buffett echoed at the shareholder meeting on Saturday. In response to a question about advice everyone needs to hear, Buffett urged shareholders to think about the way they'd like their obituaries to read and to pursue life accordingly. An encounter with his friend, Berkshire board member Chris Davis, reminded him of a key piece of advice from Munger: surround yourself with images of your idols.

Persons: Bill Murray, Murray, Warren Buffett, Charlie Munger, who's, Guy Spier, Doerthe Obert, —, It's, Buffett, William Greene, Michael O'Brien, Chris Davis, Charlie, Munger, Benjamin Franklin, Greene, Gillian Segal, Segal Organizations: Berkshire Hathaway, Drew Investment Research, Buffett Locations: Washington ,, Omaha, Nebraska, Berkshire, Zurich, Munger

— Warren Buffett's annual shopping event, the pregame to Berkshire Hathaway 's annual meeting, is wowing shareholders flocking here this weekend. JazwaresSquishmallow pit at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nevada on May 3, 2024. Sarah Min | CNBCSome highlights include the latest Squishmallows toys for Buffett and Charlie Munger, a splashy Squishmallows pit, as well as other displays. Poor Charlie's AlmanackCharles Munger remembrance ahead of the Berkshire Hathaway Annual Shareholders Meeting at Omaha, Nevada on May 3, 2024. Sarah Min | CNBCThe Bookworm only had one book to sell this year: "Poor Charlie's Almanack: The Essential Wit and Wisdom of Charles T.

Persons: Warren Buffett, Charlie Munger, Sarah Min, — Warren, Berkshire Hathaway, Brooks, Buffett, Charles Munger, Charles T, Munger, Haslam, Warren Buffett's Berkshire Hathaway, CNBC Brooks Organizations: Berkshire Hathaway, CNBC OMAHA, Berkshire, CHI, CNBC, CNBC Jazwares, Berkshire Hathaway's, FlightSafety, CNBC Berkshire, Travel Centers, Procter & Gamble Locations: Omaha , Nebraska, Neb, Omaha , Nevada, Berkshire, North America, Brooks, Queen

☆ Buy 'undervalued' Berkshire Hathaway shares ahead of 'Woodstock for Capitalists,' says CFRA
▼ + stars: | 2024-05-03 | by ( Michelle Fox | ) www.cnbc.com time to read: +1 min

Before billionaire investor Warren Buffett takes the stage at Berkshire Hathaway's annual meeting on Saturday, investors may want to scoop up some of his stock, according to CFRA. "CFRA believes Berkshire Class B shares are undervalued versus historical averages, and we expect improved claim trends at GEICO and strong reinsurance results will provide the shares with a catalyst for continued outperformance," analyst Catherine Seifert wrote in a note Thursday. BRK.B 1Y mountain Berkshire Hathaway year to date Her $472 price target on class B shares suggest nearly 18% upside from Thursday's close. The meeting in Omaha, Nebraska, has been dubbed "Woodstock for Capitalists" thanks to the tens of thousands of investors who flock to hear Buffett speak. During the Q & A session, Seifert expects topics to include succession planning, given Charlie Munger's recent passing and Buffett's age, and its strategies on Geico, energy and acquisition.

Persons: Warren Buffett, CFRA, Catherine Seifert, Buffett, Seifert, Charlie Munger's Organizations: Berkshire Hathaway's, Berkshire Class, Berkshire Hathaway Locations: Omaha, Berkshire, Omaha , Nebraska, Woodstock

☆ Apple remains Buffett's biggest public stock holding, but his thesis about its moat faces questions
▼ + stars: | 2024-05-03 | by ( Kif Leswing | ) www.cnbc.com time to read: +9 min

That's about four times bigger than Berkshire's second-biggest public stock holding, Bank of America , and makes the company the No. The bet on Apple and CEO Tim Cook has paid off handsomely for Buffett, who said in 2022 that the cost of Berkshire's Apple stake was only $31 billion. "So I called up Warren Buffett. "It's kind of more like an annuity and I think that's what Warren Buffett really sees as well." "When I buy Apple, I know that Apple is going to repurchase a lot of shares," he said in 2018.

Persons: Tim Cook, Warren Buffett, Berkshire Hathaway, behemoth, Buffett, He's, Cook, Apple, Warren, Ted Weschler, it's, Dan Eye, Buffett hasn't, Bernstein, Toni Sacconaghi didn't, Sacconaghi, Clayton Organizations: Warren Buffett Getty, CNBC, Berkshire, Apple, Bank of America, Buffett, Consumer Intelligence Research Partners, iPhone, Washington Post, Oracle, Fort Pitt Capital Group, Microsoft, The, Apple Watch, DOJ, Clayton Homes Locations: Omaha , Nebraska, Berkshire, Omaha, Cupertino , California, U.S

☆ Buffett's Berkshire Hathaway trouncing the market this year and near a record heading into shareholder meeting
▼ + stars: | 2024-05-03 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Berkshire Hathaway shares are near all-time highs ahead of the conglomerate's annual shareholder meeting, but a few worries are weighing on analysts' minds. BRK.B ALL mountain Berkshire Hathaway Class B shares But that doesn't mean the stock is without its problems. Berkshire Hathaway Energy Berkshire Hathaway has been contending with several high-profile lawsuits in recent months, including the settlement this year of a billion-dollar lawsuit with the Haslam family over how Berkshire valued Pilot Travel Centers, a truck-stop giant. Her 12-month price target of $472 implies Berkshire shares can climb roughly 18% from Thursday's closing price of $400.60 per share. "I think that the future is very bright for Berkshire Hathaway," Shanahan said.

Persons: Berkshire Hathaway, Cathy Seifert, Berkshire Hathaway Energy Berkshire Hathaway, Haslam, PacifiCorp, Warren Buffett's Berkshire Hathaway, Buffett, Edward Jones, James Shanahan, CFRA's Seifert, Seifert, Shanahan, Bull Organizations: Berkshire, Berkshire Hathaway, CFRA Research, Berkshire Hathaway Energy Berkshire, Travel Centers, Berkshire Hathaway Energy, Federal Reserve, CNBC Locations: Berkshire, Oregon, Northern California, Warren, Woodstock, Omaha , Nebraska

☆ Novo Nordisk market cap surpasses Tesla on new obesity pill trial data
▼ + stars: | 2024-03-08 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Liselotte Sabroe | AFP | Getty ImagesWegovy obesity drug maker Novo Nordisk surpassed Tesla in market value, after fresh early trial data showed positive results for its new experimental weight loss pill. Novo Nordisk is now the 12th most valuable company in the world, with a market cap of $604 billion — ahead of Tesla's $569 billion, according to FactSet data. 8The uptick of Thursday extends a months-long rally for Novo Nordisk, as excitement grows around weight loss drugs and their potential wider applications. The early amycretin data marks a fresh milestone for Novo Nordisk, potentially offering a more effective and less intrusive alternative to its already widely successful injection-based Wegovy and Ozempic drugs. Wegovy showed weight loss of 6% in a 12-week trial, while Ozempic is a diabetes treatment.

Persons: Liselotte Sabroe, Eli Lilly, amycretin, Martin Holst Lange, Lange Organizations: AFP, Getty, Novo Nordisk, Tesla, Microsoft Corp MSFT, Apple Inc, AAPL, NVIDIA Corp NVDA Technology, Saudi Aramco, SA Energy, Inc, AMZN Consumer, GOOGL, Berkshire Hathaway BRK.B, Company LLY Healthcare, Broadcom Inc, AVGO Technology, Taiwan Semiconductor TSM, Novo Nordisk NVO, Finance, JPMorgan Chase JPM, Reuters Locations: Bagsvaerd, Copenhagen, Denmark, Danish, London, Saudi, Mar, Europe

☆ UBS says Warren Buffett’s Berkshire Hathaway will top $1 trillion in market value in next 12 months
▼ + stars: | 2024-02-28 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett's Berkshire Hathaway is firing on all cylinders with a $1 trillion market value in sight, according to UBS. Analyst Brian Meredith hiked his 12-month price target on the Berkshire Class A shares to $715,000 from $655,000, and Class B shares to $477 from $435. BRK.A 1Y mountain Berkshire Hathaway Berkshire on Saturday reported a 28% jump in operating earnings in the fourth quarter due to huge gains in its insurance business. Meanwhile, Berkshire's reinsurance and primary insurance operations continued to look solid and benefit from the current market environment, UBS said. The conglomerate recently touched consecutive record highs, trading above $647,000 for Class A shares at its peak and boasting a market value above $900 billion.

Persons: Warren, Berkshire Hathaway, Brian Meredith, Meredith, BRK, Geico Organizations: UBS, Berkshire Class, Insurance, Berkshire Hathaway Berkshire, BNSF Locations: Omaha, Berkshire

☆ Premarket stocks: This rally is nearly unprecedented. Can it last?
▼ + stars: | 2024-02-27 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Just last week the S&P 500 hit a new all-time high and notched its best showing in a year. But this nearly unprecedented surge in the markets is sparking some concern over what’s driving the rally and whether it can continue. The S&P 500 and Dow last week each reached record levels after blockbuster earnings from the chipmaker set off a broad market rally. The S&P 500 is up more than 6% for the year, but when you equally weigh all of the stocks in the index, it’s up just 2.5%. Last year, the S&P 500 rose by 24.2%, but the equally-weighted index was up by just 11.6%.

Persons: Sam Stovall, Tesla, Jamie Dimon, ” Dimon, CNBC’s Leslie Picker, That’s, ”, What’s, Warren Buffett, Berkshire Hathaway, Eva Rothenberg, Buffett, Gary Pilnick’s, WK Kellogg, Pilnick, Bran, ” Pilnick, hasn’t, Carl Quintanilla Organizations: CNN Business, Bell, New York CNN —, Nvidia, Dow, Nasdaq, Health, Tech, Deutsche Bank, Microsoft, Apple, Amazon, Google, JPMorgan, Federal Reserve, Traders, PCE, Berkshire, CNBC Locations: New York, Berkshire, Omaha , Nebraska, Omaha, United States

☆ Warren Buffett: Berkshire’s boom days may be over as his company approaches $1 trillion in value
▼ + stars: | 2024-02-26 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +2 min

New York CNN —Berkshire Hathaway neared a $1 trillion market valuation Monday after a record-breaking year, but CEO Warren Buffett warned in his annual letter to investors that more skyrocketing performances are likely a thing of the past. Berkshire Hathaway (BRK.B) saw its shares jump nearly 2%, to $429, on Monday morning after closing with a market cap of $905 billion on Friday. Only a handful of companies worldwide has ever reached the $1 trillion milestone, among them tech giants Amazon, Apple and Microsoft. Berkshire has about $167.6 billion in cash and equivalents, breaking last quarter’s record-high $157.2 billion. For the year, operating earnings rose to $37.3 billion, after setting a record of $30.8 billion in 2022.

Persons: Berkshire Hathaway, Warren Buffett, ”, Buffett, “ Organizations: New, New York CNN, Berkshire, Apple, Microsoft, Mitsubishi, Mitsui, Sumitomo Locations: New York, Omaha , Nebraska, Berkshire, Omaha, United States, ”

☆ Can Buffett’s Berkshire make the $1 trillion milestone? Analysts weigh in
▼ + stars: | 2024-02-26 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Wall Street analysts have a cautious view on Berkshire Hathaway , though they praised a solid earnings report over the weekend from Warren Buffett 's conglomerate. Berkshire also said its cash rose to a record $167.6 billion, topping its prior high of $157.2 billion held in the previous quarter. Berkshire's stock initally rose in trading on Monday, with both classes hitting all-time highs intraday, and bringing the conglomerate closer to a $1 trillion valuation. BRK.A YTD mountain Berkshire Hathaway Class A However, many Wall Street analysts are wary on Berkshire, with many expecting that the stock is fairly valued as much of the strength is already priced into the stock. Berkshire's solid earnings reflected outperformance in auto insurer Geico, but the results were dinged by lower earnings in utilities and energy.

Persons: Berkshire Hathaway, Warren Buffett, FactSet, Edward Jones, James Shanahan, Keefe, Woods, Meyer Shields, Shields, Brian Meredith, CFRA's Catherine Seifert, Buffett, Michael Bloom Organizations: Berkshire Hathaway, Wall, UBS Locations: Berkshire, Omaha

☆ Berkshire shares jump after big profit gain as Buffett’s conglomerate nears $1 trillion valuation
▼ + stars: | 2024-02-26 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

The conglomerate held $167.6 billion in cash in the fourth quarter, surpassing the $157.2 billion record the conglomerate held in the prior quarter. Berkshire on Saturday posted fourth-quarter operating earnings of $8.481 billion, about 28% higher than the $6.625 billion from the year-ago period, driven by big gains in its insurance business. Berkshire class B shares jumped 2.3% in premarket trading, set to add to their 17% gain already this year. Berkshire Hathaway shares rose on Monday after Warren Buffett's conglomerate posted strong earnings for the fourth quarter over the weekend. "BRK shares have significantly outperformed financial services peers during 2023, supported by a relatively strong earnings outlook.

Persons: Berkshire Hathaway, Warren Buffett's, Edward Jones, James Shanahan, Buffett, — CNBC's Michael Bloom Organizations: Berkshire Locations: Berkshire, FactSet, Alleghany

☆ Warren Buffett honors Charlie Munger in annual note, Berkshire reports record cash pile
▼ + stars: | 2024-02-24 | by ( Nicole Goodkind | Eva Rothenberg | ) edition.cnn.com time to read: +11 min

Courtesy of Susie Buffett Buffett teaches a class at the University of Nebraska-Omaha. Courtesy of Susie Buffett Buffett married his first wife, Susan, in 1952. Courtesy of Susie Buffett Buffett and his wife pose at the beach with their three children. Courtesy of Susie Buffett Buffett poses for a photo in 1980. Nati Harnik/AP Buffett and Berkshire Hathaway Vice Chairman Charlie Munger are seen on a giant screen during the Berkshire Hathaway shareholders meeting in 2013.

Persons: Warren Buffett’s, Charlie Munger, Buffett, Munger, ”, Charlie, Berkshire Hathaway, “ Charlie, Munger’s, Greg Abel, Abel, Berkshire’s, Greg, ” Buffett, “ Greg, Berkshire Berkshire Hathaway, Warren Buffett, Nati, Laila, Howard Buffett, Howard, Susie Buffett, Ernest, Susie Buffett Laila Buffett, Warren, Doris, Susie Buffett Warren Buffett, Susie Buffett Buffett, Susan, Peter, Lee Balterman, Salomon, Marcy Nighswander, AP Buffett, Buffett's, Mark Peterson, Curt Hudson, Arnold Schwarzenegger, Kathy Willens, Chris Machian, Dave Weaver, Michael Israel, John Sleezer, Bill Gates, Mario Tama, Barack Obama, Obama, doggedly, isn't, Jim Watson, Daniel Acker, Harry Benson, Getty Images Buffett, Astrid, David Cameron, Brendan Hoffman, Kristoffer Tripplaar, Alamy Buffett, Scott Eells, Chris, Franklin, Ndamukong Suh, Scott Olson, Huang Jihui, Jason Miller, Adam Jeffery, Hillary Clinton, Kempin, Forbes, Andy Kropa, Scott Morgan, Reuters Buffett, Andrew Harrer, Apple Berkshire Hathaway Organizations: New, New York CNN, Berkshire Hathaway, Investors, Oracle, “, Berkshire, Berkshire Berkshire, University of Nebraska -, Getty, Federal Reserve, AP, Omaha for Berkshire, Bloomberg, California Gov, Wall Street, Schwarzenegger's, Kansas City Royals, Kansas City Star, Girl Scouts, Buffett, Microsoft, Getty Images, White, British, Woodrow Wilson High, Washington, Forbes, Harlem Globetrotters, Cleveland Cavaliers, Moon, NBA, CNBC, Reuters, Apple Berkshire, Apple, Securities and Exchange Commission, HP, Paramount Locations: New York, Omaha, “ Berkshire, Berkshire, The Omaha , Nebraska, Omaha , Nebraska, University of Nebraska - Omaha, Omaha for, Woodstock, Trenton , New Jersey, AFP, Washington , DC, Illinois, Sun Valley , Idaho

☆ Fed's favorite inflation gauge looms next week — plus, what we want from 2 portfolio earnings reports
▼ + stars: | 2024-02-24 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Wall Street returned to its winning ways this week — and Nvidia 's blowout earnings report Wednesday night was a big reason why. Twenty-six of our 32 portfolio stocks have delivered their results this earnings season (we didn't own Abbott Labs at the time of its report). It was a muted week for macroeconomic data, but we did get a slightly better-than-expected January existing home sales report on Thursday. In the week ahead, two more Club names are set to report earnings before a market-moving economic update arrives Thursday morning. The two other reports of note are the January new home sales report on Monday and ISM Manufacturing report on Friday.

Persons: Dow, we'll, bode, We're, Li Auto, Krystal, Arcutis, MARA, Iovance, Goldman Sachs BDC, CRON, BUD, Papa, LEV, Ginkgo, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nvidia, Nasdaq, Dow Jones, Dow, Palo Alto Networks, Bausch Health, Coterra Energy, Abbott, Companies, TJX, Marshalls, TJX Companies, Berkshire Hathaway, Krystal Biotech, Alpha Metallurgical Resources , Inc, Fidelity National Information Services Inc, Animal Health, ELAN, Public Service Enterprise Group, Surgery Partners, BioCryst Pharmaceuticals Inc, Outdoor Holdings, Enlight Renewable Energy Ltd, Kosmos Energy, Playtika, Video Communications, TiRobot Corp, IRB, SBAC Communications Corporation, HEICO Corporation, FS KKR, Archer Aviation Inc, TransMedics, Sterling Construction Company, AES, Cruise Line Holdings, Lowe's Companies, American Electric Power Company, Bank of Nova, APLS Pharmaceuticals, Bank of Montreal, BMO, Devon Energy, Solar Inc, Technologies, Lab, Virgin Galactic Holdings, Splunk Inc, eBay, EBAY, Luminar Technologies, Agilent Technologies, G Foods, Masimo Corp, Baidu, Parts Inc, Icahn Enterprises, Viatris Inc, ACM Research, Golden Ocean Group, EMCOR, Industries, NRG Energy, Dycom, Editas, UWM Holdings Corporation, Vistra Energy, Marathon Digital Holdings, AMC Entertainment Holdings, Paramount Global, IonQ Inc, International, HP, Monster Beverage Corporation, Cronos, Birkenstock Holding, Anheuser, Busch InBev, Body, Brink's Company, Flags Inc, Papa John's, ACI, Hormel, Lion Electric Company, BlackRock TCP, Dole plc, DOLE, Fisker Inc, Dell Technologies, Ginkgo Bioworks Holdings, Autodesk, Green Brick Partners, Hewlett Packard Enterprise, Veeva Systems, INTTEST Corporation, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: New York City, U.S, Salesforce, Maxx, Bank of Nova Scotia, BlackRock, Cayman

☆ Warren Buffett’s highly anticipated annual letter arrives Saturday. Here’s what to expect
▼ + stars: | 2024-02-23 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Warren Buffett is about to release his must-read annual letter where he's expected to pay a heartwarming tribute to the late Charlie Munger. The 93-year-old chairman and CEO of Berkshire Hathaway is slated to release his annual shareholder letter Saturday at 8:00 a.m. "Succession is a top-of-mind issue for many Berkshire investors," Cathy Seifert, Berkshire analyst at CFRA Research, said in a note. Buffett's investment lieutenants, Todd Combs and Ted Weschler, have taken on more responsibilities at Berkshire, independently overseeing about $15 billion each. The run up in Berkshire shares may have curbed the amount of buyback activity in the fourth quarter.

Persons: Warren Buffett, Charlie Munger, Berkshire Hathaway, Steve Check, Munger, Buffett, Munger's, it's, Greg Abel, Cathy Seifert, Todd Combs, Ted Weschler, Todd, Ted Organizations: Check Capital Management, Berkshire, CFRA Research, Investors, Berkshire Hathaway, BNSF Railway Locations: Berkshire, Berkshire Hathaway The Omaha, Dairy

☆ Here are Thursday's biggest analyst calls: Apple, Nvidia, Snowflake, Coinbase, Skechers, Tesla, Berkshire Hathaway & more
▼ + stars: | 2024-02-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Here are Thursday's biggest calls on Wall Street: Macquarie downgrades Sony to neutral from buy Macquarie said it sees a more balanced risk/reward for the entertainment company. "With Sony near our target price and market expectations at risk given lacklustre FY3/25 guidance, we are downgrading to Neutral." Deutsche Bank reiterates Rocket Lab as a top pick Deutsche said it's standing by its bullish status on the space company. " Bank of America initiates Super Micro as buy Bank of America said the server and storage solutions company is an AI beneficiary. Bank of America reiterates Uber as buy Bank of America said it's feeling more bullish after the company's investor day.

Persons: Macquarie, Davidson, DA, Piper Sandler, Piper, KeyBanc, Evercore, Skechers, Price, Bernstein, underperform Bernstein, Redburn, Eastman, Morgan Stanley, Wells, Morgan Stanley downgrades, Guggenheim, Generac, Uber, Tesla, KBW, Berkshire Hathaway Organizations: Macquarie, Sony, JPMorgan, Deutsche Bank, Deutsche, Nvidia, Citi, FedEx, Apple, HSBC, GE Healthcare, GE, Crypto, UBS, Downside, Eastman Chemical, Comcast, Cisco, Cliffs, Steel, " Bank of America, Air Products, of America, Linde, Bank of America, Micro, Inc, Guggenheim, Mizuho, Energy, BMO, CNBC, & $ Locations: Nashville, China, Morgan Stanley downgrades Cleveland

☆ Expecting more sell-offs? These low-volatility fortresses can defend your portfolio and grow
▼ + stars: | 2024-02-13 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Tuesday's inflation data sent the broader market reeling, making stable stocks more attractive for investors worried about further losses. Because of this, CNBC Pro screened for low-volatility, fortress-like names that can perform well if the drawdown continues. She pointed to growth of a media business as something that could help Costco win market share and create a better margin profile. While more than three out of every five analysts polled by FactSet has a buy rating on the stock, the typical price target reflects shares pulling back by 1.5%. The average price target reflects the likelihood for more rallying ahead with an upside of nearly 15%.

Persons: Strong, Berkshire Hathaway, Warren Buffett, Tesla, Richard Galanti, Gary Millerchip, Goldman Sachs, Kate McShane, McShane, FactSet, Ben Reitzes Organizations: Federal Reserve, Treasury, CNBC Pro, Berkshire, Berkshire Hathaway, Costco, Kroger, Microsoft, Big Technology, Melius

☆ Berkshire Hathaway is trading at record highs, and UBS thinks it can rise another 15%
▼ + stars: | 2024-01-25 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Berkshire Hathaway shares reached a fresh all-time high to start off a strong 2024, and one analyst thinks the conglomerate's stock is still attractively priced and sees double digit upside. UBS analyst Brian Meredith hiked his 12-month price target for Berkshire's Class B shares to $435 from $410 previously. Secondly, the UBS analyst said Berkshire's array of different businesses remains strong. In insurance, UBS expects profit margins to improve at auto insurer Geico this year, while Berkshire Hathaway Reinsurance Group is expected to see strong growth in premiums and improved profitability. Lastly, UBS noted that Berkshire has historically benefited, on a relative basis, from an economic slowdown.

Persons: Brian Meredith, Warren, Meredith, Buffett Organizations: Berkshire Hathaway, UBS, Berkshire, BRK's Insurance, Insurance, BNSF Railway Co Locations: Berkshire, repurchases, buybacks . Berkshire, U.S, Omaha

☆ Buffett's Berkshire Hathaway could be headed for its next major breakout, according to the charts
▼ + stars: | 2024-01-18 | by ( Frank Cappelleri | ) www.cnbc.com time to read: +3 min

The last few breakout attempts in late 2023 failed to attract enough interested buyers to push beyond the $360-$370 zone. Relative strength BRK.B also has displayed strong periods of relative strength vs. the financial sector. ('XLF' is the Financial Select SPDR tracking the financial sector in the S & P 500.) In other words, the stock can give investors exposure to the financial sector without having to endure the same risk to rising rates as banks. BRK.B last pushed to a new high vs. the S & P 500 in late 2018, but that breakout didn't hold.

Persons: Berkshire Hathaway, BRK.B, That's, Frank Cappelleri Locations: Berkshire

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