DIRS.INFO top alerts submit data jurnalism about API
login
Top related persons:
Charlie Munger - 1 Warren Buffett - 1 Berkshire Hathaway - 1 Munger - 1 Charles Thomas Munger - 1 “ Charlie - 1 ” - 1 Wall - 1
Top related locs:
New York “ ” California Omaha , Nebraska Southern California Japan Omaha
Top related orgs:
New - 1 New York CNN - 1 Berkshire - 1 US Army - 1 University of Michigan - 1 Harvard Law School - 1 Berkshire Hathaway - 1 Erian - 1

Search resuls for: "Paul R. La Monica"


25 mentions found


☆ Charlie Munger death: Warren Buffett’s business partner in Berkshire Hathaway passes away, aged 99
  + stars: | 2023-11-28 | by ( Paul R. La Monica | Krystal Hur | ) edition.cnn.com   time to read: +3 min
New York CNN —Billionaire investor Charlie Munger, the long-time friend and business partner of Warren Buffett, has died. Berkshire Hathaway, the investment firm where Munger served as vice chairman, said in a press release that Munger passed “peacefully” on Tuesday morning in a California hospital. Charles Thomas Munger, known by his nickname, “Charlie,” was born on January 1, 1924, in Omaha, Nebraska. Buffett told CNBC in 2021 that after their first meeting, he knew “I’m not going to find another guy like this …. “If people weren’t so often wrong, we wouldn’t be so rich,” Munger said during a 2015 Berkshire Hathaway annual shareholders meeting.
Persons: Charlie Munger, Warren Buffett, Berkshire Hathaway, Munger, Charles Thomas Munger, “ Charlie, ”, Wall, Munger’s, “ Berkshire Hathaway, Charlie, Mohamed El, ” Whitney Tilson, Buffett, “, ” Munger, “ I’m, CNN Munger, — CNN’s Nicole Goodkind Organizations: New, New York CNN, Berkshire, US Army, University of Michigan, Harvard Law School, Berkshire Hathaway, Erian, Allianz, CNN, Forbes, CNBC, Xerox, Daily Journal Locations: New York, “, ”, California, Omaha , Nebraska, Southern California, Japan, Omaha, Berkshire, Munger, Los Angeles
☆ How the market has changed in the 20+ years I’ve covered it
  + stars: | 2023-03-03 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +6 min
Eastman Kodak (KODK) was a Dow stock. I’ve written about B2B (aka business-to-business) software companies, cloud computing firms, IPOs and SPACs, and cannabis/pot stocks. There have been more flavors of the month in the stock market during my CNN career than at your local Baskin-Robbins. It’s fine to have a lot of your money in S&P 500 ETFs and other funds that will track the broader market. “We still continue to believe that over long periods of time, stocks provide a reasonable hedge against inflation,” Patterson said.
☆ Covid vaccine maker Novavax says it may not survive
  + stars: | 2023-03-01 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +2 min
New York CNN —Novavax, which makes the Nuvaxovid vaccine used to treat Covid-19, posted huge sales gains for the past three years during the height of the pandemic. But the company is now facing serious financial challenges — and has even warned it may not be able to survive. Shares of Novavax (NVAX) plunged more than 25% in early morning trading to a new multi-year low of under $7. Novavax hit a 52-week high of about $91 last year and was trading above $330 in February 2021. Novavax isn’t the only Covid-vaccine maker to disappoint Wall Street, though.
☆ Tesla, tech and travel stocks have ginormous gains this year
  + stars: | 2023-02-28 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +3 min
Beaten-up travel stocks have also enjoyed solid gains this year, as investors bet that the worst-case fears of an imminent recession may turn out to be for naught and consumers catch up on missed travel. Some fear this ferocious rebound in consumer and tech stocks may be happening too quickly. “That means there are broader opportunities outside of tech and growth stocks and more in the value and small cap sectors.”Growth stocks, and tech in particular, make more sense as investments if the Fed were set to start slashing interest rates. Add all that up and it could mean that the recent rebound for Tesla, big techs and media firms and other consumer stocks could be short-lived. “Inflation and interest rate uncertainty means we continue to believe value stocks, including the global energy sector, will outperform growth stocks,” Haefele said.
☆ Why the 2023 stock market rally may be over already
  + stars: | 2023-02-27 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +3 min
New York CNN —So much for that big stock market comeback this year. At one point in mid-January, the average of 30 blue chips was up nearly 4% in 2023. It’s harder to justify more expensive valuations for the market in an environment where higher interest rates will likely eat into profits. He speculated that if inflation doesn’t cool off soon, the Fed may need to keep raising rates all the way up to 6%. “If there is a recession, profits will likely fall sharply.”Still, Kelly is cautiously optimistic that 2024 and beyond will be better years for earnings, and therefore stocks.
☆ Warren Buffett is missing out on this year’s market comeback
  + stars: | 2023-02-19 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +8 min
But the Oracle of Omaha has missed out on this year’s stock market rally. Buffett, in fact, has promoted that idea to investors many times, arguing that most individual stock pickers will not be able to beat the market. And to his credit, that usually pays dividends: Berkshire stock was up 3% last year in a down market. “High rates of inflation create a tax on capital that makes much corporate investment unwise,” Buffett said in his 1980 shareholder letter to Berkshire investors. Investors will get several more clues about consumer spending this week when several top retailers report earnings.
☆ Stocks slide as investors worry about more rate hikes
  + stars: | 2023-02-16 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +2 min
Stocks tumbled Thursday morning after the US government’s Producer Price Index report showed that prices at the wholesale level rose faster than expected in January. The unwelcome inflation news comes just two days after the Consumer Price Index figures showed that retail prices continue to come in above forecasts. Investors also were unnerved by comments from Cleveland Federal Reserve president Loretta Mester about inflation and the economy. St. Louis Fed president James Bullard, another regional bank president who does not have a vote on the FOMC this year, is giving a speech this afternoon. Streaming media device maker Roku (ROKU) also soared following strong earnings.
☆ Charlie Munger still likes big banks and hates crypto
  + stars: | 2023-02-15 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +3 min
“I might have different ideas [than Buffett],” Munger said about bank stocks at the annual meeting for the Los Angeles-based newspaper publisher Daily Journal, where Munger was chairman until last year. Munger remains a board director at Daily Journal and is one of its top investors. Daily Journal, like Berkshire Hathaway (BRKB), is a conglomerate that also owns some individual stocks. Daily Journal’s portfolio is much smaller than Berkshire’s. Munger said he doesn’t want to sell Daily Journal’s bank investments because Daily Journal bought many of the stocks at the bottom during the 2008-2009 financial crisis.
☆ Barney the purple dinosaur is back and he has a new look
  + stars: | 2023-02-13 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +3 min
New York CNN —Barney is back, and while Mattel has not yet officially confirmed it, we’re guessing he still loves you. Toy giant Mattel (MAT) announced Monday that Barney, the friendly (and, let’s be honest, cringe-worthy to a large group of Millennials who watched him as pre-schoolers, and to their parents) purple dinosaur is making a triumphant return to TVs and toy shelves next year. The “Barney & Friends” show, featuring the titular violet-hued T-Rex, aired on PBS in the United States from 1992 until 2010. So no beleaguered actor dressed up in a dinosaur costume marching around and singing to young kids. “With our modern take on Barney, we hope to inspire the next generation to listen, care, and dream big,” Soulie added.
☆ Investors need to embrace these stocks that we love
  + stars: | 2023-02-12 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +8 min
I’ve typically done this stock picking feature in early to mid February as a Stocks We Love type of story, pegging it to Valentine’s Day. The restaurant stocks in particular could do well. Inflation is obviously still a concern for big consumer brands. Consumer prices rose 6.5% over the past 12 months through December, down from a 7.1% pace in November. Up nextMonday: Earnings from TreeHouse Foods (THS), Avis Budget (CAR), FirstEnergy (FE), IAC (IAC) and PalantirTuesday: US CPI; Japan GDP; UK employment report; earnings from Coca-Cola, Asahi Group, Marriott (MAR).
☆ An estimated $16 billion worth of bets will be placed on the Super Bowl
  + stars: | 2023-02-12 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +5 min
New York CNN —With more states legalizing gambling on sports, Super Bowl LVII will probably be the biggest event for the industry ever. But how will casino and online/mobile sports betting companies stand out in an increasingly crowded field? “We have prepared for this Super Bowl like never before,” Greenblatt said. That’s more than double the number of wagers on last year’s Super Bowl. That’s different from 2021 when customer growth was being rewarded.”That being said, both DraftKings and FanDuel still plan to advertise during this year’s Super Bowl.
☆ AI is the latest Wall Street craze. Is it also the next bubble?
  + stars: | 2023-02-09 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +5 min
All of this AI news has helped boost shares of Baidu (BIDU), Microsoft (MSFT) and Google owner Alphabet (GOOGL) this year. Shares of the artificial intelligence software company have more than doubled this year, to about $26. SoundHound AI, which makes speech- and other audio-recognition software, has also seen its stock more than double this year. The fact that many of the world’s largest tech companies are embracing artificial intelligence is evidence of that. “We believe tech companies and tech equities will continue to face headwinds, as long as the Fed keeps its foot on the brake,” Siebel said in December.
☆ Bob Iger beats Nelson Peltz in Disney board battle
  + stars: | 2023-02-09 | by ( Kate Trafecante | ) edition.cnn.com   time to read: +3 min
After reporting a multibillion cost-cutting initiative that sent Disney shares surging, CEO Bob Iger gained a key battle against activist shareholder Nelson Peltz. Peltz, who demanded changes at Disney (DIS) and a seat on the company’s board, declared defeat after Iger announced many of the cost-cutting initiatives Peltz had been demanding. One possible cost-cutting – and debt-reducing– maneuver for Disney: selling its stake in streaming service Hulu, a move Iger said he has not yet ruled out. Wall Street analysts had widely expected Disney to buy the rest of the Hulu stake, owned by rival Comcast (CMCSA). Iger said the changes he announced during Wednesday’s earnings call were to unwind Chapek’s previous restructuring of the company.
☆ Inflation: Fed's Neel Kashkari says prices are still too high
  + stars: | 2023-02-07 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +4 min
New York CNN —Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, understands that consumers are still struggling to deal with high prices. Kashkari told CNN’s Poppy Harlow Tuesday that he knows first hand how expensive many consumer goods and services are. Job market strength fueling more inflationKashkari acknowledged that inflation pressures are easing, but said the Fed is still not comfortable with how high prices are, particularly for services. He told Harlow he’s penciling in short-term rates as high as 5.4% before pausing. It’s hard to have a recession when the job market is still so robust, he told Harlow.
☆ Bank of America CEO: We're preparing for possible debt default
  + stars: | 2023-02-06 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +3 min
The CEO of Bank of America (BAC), America’s second-largest bank, told CNN he hopes lawmakers resolve their issues, because the market and economy love stability. “We have to be prepared for that, not only in this country but in other countries around the world,” Bank of America CEO Brian Moynihan told Poppy Harlow on “CNN This Morning” Monday. Yellen subsequently said there could be a “global financial crisis” if there is no debt limit agreement. Extremely low,” Moynihan told Harlow. He told Harlow that given China’s importance in the global supply chain, it’s in everyone’s interests to not have any economic tensions escalate.
☆ Did investors learn nothing from last year’s market meltdown?
  + stars: | 2023-02-05 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +6 min
Shares of movie theater chain AMC (AMC) have soared nearly 65% so far in 2023, and AMC (AMC)’s companion preferred stock (which trades under the ticker APE as a nod to the nickname AMC (AMC) fans have given themselves on social media) has more than doubled. So did investors learn nothing from last year’s market meltdown? I don’t agree with this market rally in meme stocks,” said Erik Ristuben, chief investment strategist with Russell Investments. Another strategist agrees this recent rally for meme stocks and other speculative bets may not end well. If they’re upbeat about spending, that could keep the rally in consumer stocks going.
☆ Dow and S&P 500 updates: Stock market news today
  + stars: | 2023-02-03 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +1 min
A week that has been chock-full of economic data will be capped off Friday with the first US jobs report of 2023. That would be a considerable drop from the 504,000 jobs added in January 2022 and the 520,000 added in January 2021. It also would nearly match the 183,000 monthly average between 2010 and 2019, Bureau of Labor Statistics data shows. America’s unemployment rate dipped back down in December to 3.5%, once again matching a 50-year low. Layoff announcements — led by large tech firms — are picking up steam: The 43,651 job cuts announced in December jumped to 102,943 in January, according to a new data released Thursday morning by Challenger, Gray & Christmas.
☆ Premarket stocks: Will the Fed end the 2023 market rally?
  + stars: | 2023-02-01 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +6 min
So will Fed Chair Jerome Powell dampen expectations and reiterate that the fight against inflation still has a way to go, or will the Fed show signs that they’re ready to ease up on rate hikes? Wall Street analysts also expect the Fed will stop hiking altogether by the spring. This will leave the market hanging on the future of how many rate hikes we will see.”He’s preparing for a volatile market reaction. But now, investors may be a bit too eager to end treatment, even as Fed officials warn that doing so would be premature. Stocks close out a jubilant JanuaryThe greatest comebacks of all time: Rocky Balboa, JNCO jeans, Apple and now… the US stock market.
☆ Stocks sizzled in January as rate hike and inflation fears ebbed
  + stars: | 2023-01-31 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +3 min
New York CNN —New year, new attitude on Wall Street. Wall Street is also eagerly awaiting earnings from four key Nasdaq-listed giants later this week: Facebook owner Meta Platforms, Apple (AAPL), Amazon (AMZN) and Google parent Alphabet (GOOGL). Stocks have rallied this month due to hopes that inflation pressures are starting to abate. That should allow the Fed to issue smaller rate increases – and possibly even pause them later this year. Others argue that the Fed is likely to keep raising rates until it is certain inflation is no longer a problem.
☆ The Covid sales boom is over for Pfizer
  + stars: | 2023-01-31 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +3 min
New York CNN —Pfizer generated nearly $57 billion in combined sales last year from its Comirnaty Covid-19 vaccine and Paxlovid antiviral pill. Pfizer (PFE) told Wall Street Tuesday that it expects Covid-related sales to plunge to $21.5 billion this year… below Wall Street’s forecasts. Pfizer noted that it now expects to sell just $13.5 billion of its vaccine and $8 billion of the Paxlovid pill this year. Wall Street was expecting vaccine revenue of $14.4 billion and $10.3 billion of Paxlovid for 2023, according to estimates tracked by Refinitiv. Pfizer reported Comirnaty sales of $37.8 billion last year and revenue of $18.9 billion from Paxlovid.
☆ Premarket stocks: Is this the beginning of the end for Big Oil's windfall?
  + stars: | 2023-01-31 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +6 min
Brutally high oil and gas prices were the talk of the town and one of the largest contributing factors to sky-high inflation. That was bad news for drivers, but ended up being great for the energy industry as oil prices and energy stocks are closely interlinked. As markets fell under the pressures of economic uncertainty, geopolitical chaos, elevated inflation and a hawkish Fed, the energy sector thrived. The S&P ended 2022 down nearly 20%, while the energy sector grew by about 60%. But analysts say US oil companies can’t keep winning for much longer.
☆ Premarket stocks: Here's why you should always wait for the earnings call
  + stars: | 2023-01-30 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +6 min
We’re currently in the thick of fourth quarter earnings reports, but traders don’t seem to care about how companies fared during the final months of 2022. These slowdowns have been partially factored into stock prices, he said, “but not necessarily in full.”The upside: Market reaction appears to go both ways. Gas prices are surging this month. Gas prices are rocketing higher. Why are gas prices jumping?
☆ 2022's stock losers are this year's winners so far
  + stars: | 2023-01-30 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +4 min
But it’s still been a solid start to the year for the market — and many of last year’s losers have led the way on Wall Street so far in January. Discovery, which plunged nearly 60% last year, has surged 55% so far in 2023 and is the best performer in the S&P 500. Rising market tide lifting questionable boatsStill, some investors are worried this year’s market rally is eerily reminiscent of prior market bubbles. GameStop (GME) is up nearly 25%. “Most investors don’t realize the Fed has to fight the inflation in the stock market, too,” Trainer added.
☆ Jobs report to give clues about where economy is headed
  + stars: | 2023-01-29 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +8 min
Investors will get another clue when the January jobs report is released on Friday. Economists predict that 185,000 jobs were added last month, a slowdown from the gain of 223,000 jobs in December and 263,000 in November. A further deceleration in the labor market would likely please the Fed, as it would show that last year’s rate hikes are successfully taking some air out of the economy. Along those lines, average hourly earnings, a measure of wages that is also part of the monthly jobs report, are expected to increase 4.3% year-over year. So far, tech earnings season is not off to an inspiring start, with Microsoft (MSFT), Intel (INTC) and IBM (IBM) all reporting weak results.
☆ Goldman Sachs CEO got 30% pay cut – but still made $25 million
  + stars: | 2023-01-27 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: 1 min
How relevant is this ad to you? Video player was slow to load content Video content never loaded Ad froze or did not finish loading Video content did not start after ad Audio on ad was too loud Other issues
0 next >>
Total: 25