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Search resuls for: "Buffet's"


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☆ TSMC out of favor with slew of funds alongside Berkshire, filings show
  + stars: | 2023-02-15 | by ( Carolina Mandl | ) www.reuters.com   time to read: +2 min
The announcement drove shares in TSMC down 6% on Wednesday, although they remain up 23.5% this year. Equity long-short hedge fund Tiger entirely sold its 1.3 million shares in TSMC in the fourth quarter, a stake worth $119 million at current prices. Fund manager Capital Group also sold over 9.5 million shares in the chipmaker, regulatory filings showed. JPMorgan and BlackRock dumped roughly 4 million shares in TSMC each. On Tuesday, Charles Munder, a director and vice-chairman of Berkshire, said TSMC is the "strongest semiconductor company on earth," without elaborating on the reasons for the sale.
☆ Stocks making the biggest moves premarket: Kraft Heinz, Paramount, Airbnb, Tripadvisor and more
  + stars: | 2023-02-15 | by ( Pia Singh | ) www.cnbc.com   time to read: +4 min
Airbnb — The home-sharing company gained nearly 10% in the premarket after posting fourth-quarter earnings that beat analysts' expectations. Airbnb reported earnings per share of 48 cents, compared to the 25 cents expected, per Refinitiv. Generac — Shares added more than 2% after the power generator maker reported fourth-quarter earnings results. Generac posted earnings of $1.78 per share, better than the $1.75 per share expected by analysts polled by FactSet. Analog Devices — Shares were up 6.7% in premarket trading after the company reported better-than-expected earnings for the fiscal first quarter.
☆ Stocks making the biggest moves midday: Roblox, Airbnb, Barclays, Silvergate Capital & more
  + stars: | 2023-02-15 | by ( Michelle Fox | ) www.cnbc.com   time to read: +4 min
Airbnb reported 48 cents in earnings per share on $1.90 billion of revenue. Devon Energy — Shares tumbled 12.3% after the energy company reported fourth-quarter earnings and revenue that came in below expectations. Generac Holdings — Shares rallied 8% after the power-generator maker reported fourth-quarter earnings of $1.78 per share, topping StreetAccount's estimate of $1.75 per share. Warren Buffet's firm now owns more than 93 million shares of Paramount. Martin Marietta Materials — Shares gained 7% after the company reported fourth-quarter net income of $183.6 million, up from $156.8 million a year ago.
☆ Tesla, insurers take different paths to deal with expensive repairs
  + stars: | 2023-01-26 | by ( Paul Lienert | ) www.reuters.com   time to read: +4 min
Jan 26 (Reuters) - Tesla Inc's (TSLA.O) electric vehicles are expensive to repair - so much so that the automaker and insurers are addressing the issue in sharply different ways. Chief Executive Elon Musk says Tesla is making design and software changes to its vehicles to lower repair costs and insurance premiums. Insurance carriers, meanwhile, are writing off low-mileage Tesla Model Ys that have been in crashes, and sending them to salvage auctions after deeming many too expensive to repair. "It's remarkable how small changes in the design of the bumper (and) providing spare parts needed for collision repair have an enormous effect on the repair cost," he said. Insurance companies contacted by Reuters either declined to comment or did not respond immediately to requests.
☆ Warren Buffett's right-hand man Charlie Munger might not get his windowless dorm built at UC-Santa Barbara
  + stars: | 2022-12-23 | by ( Aaron Mok | ) www.businessinsider.com   time to read: +4 min
UC-Santa Barbara's Munger Hall may not be built after 13 people said it could pose health risks. The dorm — backed by a $200 million donation from Munger — was supposed to be 11-stories high with 4,500 beds across 70 square-foot bedrooms with no windows, according to the Times. Munger Hall has been criticized for its lack of windows in the bedrooms where students would live. Panelists said that Munger Hall could pose challenges to the mental and physical health of students, Vice reported. As far as the report, Munger told The Real Deal that the it's "all horseshit," adding that "it's ridiculous."
☆ A Warren Buffet-backed Tesla competitor is making a dent in Elon Musk's EV empire
  + stars: | 2022-12-08 | by ( Tim Levin | ) www.businessinsider.com   time to read: +3 min
China's BYD is quickly gaining on Tesla, the world leader in electric car sales. This year, it kicked combustion-engine cars to the curb and has grown its EV business at an explosive pace. In 2021, the Warren Buffet-backed carmaker shipped some 320,000 pure electric vehicles (not including the plug-in hybrid vehicles that still make up much of BYD's sales). BYD's epic rise comes amid signs that Tesla is losing steam in China, the world's biggest market for electric cars. Some industry watchers like Michael Dunne, founder of the EV industry consultancy ZoZoGo, think BYD is primed to become the EV sales leader and dethrone Tesla.
☆ Activision acquisition would be good for Microsoft and the overall stock market
  + stars: | 2022-12-02 | by ( Zev Fima | ) www.cnbc.com   time to read: +12 min
That implies that the other 35% of the market is made up of firms with equal to or less than about a 2% market share. For simplicity's sake, let's say an additional 17 firms have a 2% market share each to bring us to 100% of the market. That means the HHI, calculated by the market share number squared and then added together for all 27 companies, would be under 650. If the Microsoft-Activision Blizzard deal goes through, and you combine the market share concentration of the two companies, the HII would be just over 700. The other issue is how one measures the gaming market.
☆ China's BYD to sell EVs in Mexico in 2023, aims for up to 30,000 sales in 2024
  + stars: | 2022-11-30 | by ( Kylie Madry | ) www.reuters.com   time to read: +3 min
[1/4] The interior of the BYD HAN EV is displayed as the Chinese electric-vehicle producer announces its expansion to the consumer market next year in Mexico, in Toluca, Mexico November 29, 2022. As per Mexico's Automotive Industry Association, just 4.5% of cars sold in the first eight months of this year were hybrid, or around 31,000 of nearly 693,000 sold in total. While BYD declined to name starting prices of its vehicles in Mexico, Zou stressed the company's affordability. BYD's Zou also said the company aimed to sell cars through 15 licensed dealers in Mexico by the end of 2023 and hit 30 by 2024. Zou said as U.S. states such as California go fully electric, Mexico — which produces a vast amount of cars for its northern neighbors — will likely follow.
☆ Taiwan president decries 'rumours' about the island's chip investment risk
  + stars: | 2022-11-16 | by ( Ben Blanchard Sarah Wu | Ben Blanchard | Sarah Wu | ) www.reuters.com   time to read: +2 min
[1/2] Semiconductor chips are seen on a circuit board of a computer in this illustration picture taken February 25, 2022. REUTERS/Florence Lo/IllustrationTAIPEI, Nov 16 (Reuters) - Taiwan President Tsai Ing-wen has decried what she called "rumours" about the risk of investing in the island's semiconductor industry and said the government was working hard to ensure investments continued. But the Chinese military's menacing of the island to assert Beijing's sovereignty claims, especially after U.S. House Speaker Nancy Pelosi visited Taipei in August, is causing the chip industry to rethink the risk surrounding Taiwan. Tsai, who met with ASML Holding's (ASML.AS) chief operations officer Frederic Schneider-Maunoury on Tuesday, praised the European manufacturer of chip-making equipment for its commitment to investing in Taiwan. Reporting by Ben Blanchard and Sarah Wu; Editing by Christian Schmollinger and Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.
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