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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCFRA: Lower demand for Berkshire Hathaway's products highlights economic slowdownCathy Seifert, Vice President of CFRA Research, discusses about Berkshire Hathaway’s Q3 results, its recent stock selling-spree, and what all that says about the broader US market and economy.
Persons: Cathy Seifert Organizations: Berkshire, CFRA Research, Berkshire Hathaway’s
Nvidia is slated to replace rival chipmaker Intel , while paint manufacturer Sherwin-Williams will replace Dow Inc . Fox Corp. — Shares rose nearly 4% after the media company surpassed Wall Street's fiscal first-quarter estimates. That surpassed the earnings per share of $1.13 and $3.38 billion in revenue expected by analysts polled by FactSet. The New York Times — The media company's shares fell 6% after The New York Times added fewer-than-expected digital subscribers in the third quarter, even as its digital advertising sales saw its strongest growth in more than two years. The New York Times Tech Guild also announced Monday morning that it is officially on an unfair labor practice strike .
Persons: Sherwin, Williams, Berkshire Hathaway, Warren Buffett's, FactSet, Talen, Marriott, Peter Stern, Chewy, Dow, — CNBC's Michelle Fox, Lisa Kailai Han, Pia Singh, Sean Conlon, Samantha Subin Organizations: Nvidia, Dow Jones, Intel, Dow Inc, Berkshire, Energy, Federal Energy Regulatory Commission, Susquehanna, Amazon, Constellation Energy, Marriott, underperform, Bank of America, Yum China Holdings —, Fox Corp, FactSet, The New York Times, New York Times, New York Times Tech Guild Locations: Shanghai, Yum China
Warren Buffett isn't hot on stocks right now, and the 94-year-old CEO's latest moves reflect that. The cash hoard has grown as Berkshire pared down stakes in key holdings such as Apple and Bank of America . It's also raked in more than $10 billion from steadily selling Bank of America shares since the summer. Berkshire Class A stock trades at 22.6 time earnings. Lastly, Colas noted that Buffett may have "have identified one or more large acquisitions and is raising capital for those purchases."
Persons: Warren Buffett, Berkshire Hathaway, Goldman Sachs, It's, Buffett, didn't, Nicholas Colas, Colas, Greg Abel, hasn't, Morgan Stanley Organizations: Berkshire, Nike, Disney, Apple, Bank of America, of America, DataTrek, Oracle, Berkshire Class Locations: Berkshire, Omaha
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. In his Sunday column, meanwhile, Jim Cramer looked at 11 earnings surprises , including a feeling that both presidential candidates would support solar. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, There's, that's, there's, Eli Lilly, Lilly, Stanley Black, Decker, Nextracker, Jim, Salesforce, Evercore, Agentforce, he's, Saleforce's, Matthew McConaughey, Stocks, Sherwin, Berkshire Hathaway, Jim Cramer's, NVDA Organizations: CNBC, Fed, Devices, Nvidia, Intel, Dow, Therapeutics, Depot, ISI, Abercrombie, Fitch, Constellation Energy Locations: Friday's, Williams, Berkshire, Marriott
Warren Buffett signaled in Berkshire Hathaway's third-quarter earnings that he was being cautious. The investor built a record cash pile, slashed his two biggest stock bets, and halted buybacks. The legendary investor and his team sold $36 billion of shares and only made purchases worth $1.5 billion, marking their eighth straight quarter as net sellers. Related storiesNotably, Berkshire pared its bets on Apple and Bank of America, its two largest stock positions going into the quarter. Buffett has said that buybacks only make financial sense when a stock is trading at a discount to its intrinsic value.
Persons: Warren Buffett, , Donald Trump, Kamala Harris, he's, Trump, aren't, Bershire, Buffett, Russ Mould, AJ, Mould Organizations: Berkshire Hathaway's, Service, Treasury, Apple, Bank of America Locations: Berkshire, payables
The drug is classified as a GLP-1, which could put the company in competition with Novo Nordisk and Eli Lilly. Berkshire Hathaway – Shares were marginally lower after Warren Buffett's conglomerate revealed that operating earnings totaled $10.1 billion in the third quarter . Berkshire Hathaway shares were marginally lower after operating earnings totaled $10.1 billion in the third quarter. Trump Media & Technology Group – Shares of former President Donald Trump's media company pulled back more than 3% ahead of the U.S. election on Tuesday. Shares of Intel were more than 1% lower, while Dow Inc. shares were off 0.6%.
Persons: Talen, Eli Lilly, Berkshire Hathaway, Warren Buffett's, Warren Buffett's Berkshire Hathaway, Peter Stern, Donald Trump's, Roblox, Morgan Stanley, Jefferies, Sherwin, Williams, William, CNBC's Hakyung Kim, Brian Evans, Sarah Min, Lisa Kailai Han, Spencer Kimball, Tanaya Macheel, Michelle Fox Theobald Organizations: Energy, Federal Energy Regulatory Commission, Susquehanna, Constellation, Therapeutics, Novo Nordisk, Apple, Berkshire, , Bank of America, Trump Media & Technology, Nvidia, Dow Jones, Intel, Dow Inc
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow high-net worth investors are viewing moves by Berkshire Hathaway to increase its cash pileBarbara Goodstein, managing partner at R360, an investment community for ultra-high net worth individuals, discusses Berkshire Hathaway's Q3 results, and moves by the company to further trim its holdings in Apple and Bank of America.
Persons: Berkshire Hathaway, Barbara Goodstein Organizations: Berkshire, Apple, Bank of America
Altman also emphasized saying no, echoing Steve Jobs' leadership philosophy. AdvertisementThe leadership traits that Sam Altman values may sound familiar to those who have studied Steve Jobs and Warren Buffett. Altman said the team tries to be "rigorous" about straying away from "fantastical dreams" or goals — a strategy reminiscent of the late Apple cofounder Steve Jobs. Advertisement"The main thing I stressed was focus," Jobs had said about his visit to Larry Page, biographer Walter Isaacson wrote in the Harvard Business Review. "The difference between successful people and really successful people is that really successful people say no to almost everything," the Berkshire Hathaway CEO once said.
Persons: Sam Altman, Altman, Steve Jobs, Warren Buffett, , Kevin Weil, Jobs, Larry Page, Walter Isaacson, Apple's, Jerry Yang, Insider's Nicholas Carlson, Marissa Mayer, — that's, Alman, Sora Organizations: Service, Apple, Harvard Business, Yahoo, Stanford University, Conference, Berkshire Hathaway Locations: Hollywood
Morgan Stanley reiterates Apple as buy Morgan Stanley said it's sticking with the stock following the release of the company's annual 10-K analysis. " Morgan Stanley reiterates Amazon as overweight Morgan Stanley raised its price target on Amazon to $230 per share from $210. Morgan Stanley upgrades Entergy to equal weight from underweight Morgan Stanley said the energy company's outlook has improved. " Morgan Stanley upgrades Roblox to overweight from equal weight Morgan Stanley said in its upgrade of the stock that it sees a long runway for growth. " Morgan Stanley downgrades STMicroelectronics to underweight from equal weight Morgan Stanley said it sees too many headwinds from the semis manufacturer.
Persons: Berkshire Hathaway, Price, Morgan Stanley, Apple, Goldman Sachs, Goldman, it's bullish, Rollins, William Blair, TSMC, Bernstein, Trip.com, Morgan Stanley downgrades STMicroelectronics, Hollister comps, Peter Stern, D.A, Davidson, AAPL Organizations: UBS, Berkshire, Citi, Apple, PlayStation, Barclays, Blackwell, Tencent, Entertainment, Trip.com, Bank of America, Inc, KeySight, Qs, Abercrombie & Fitch Citi, of America, " Bank of America, Meta, Walmart Locations: Kazakhstan, LA, China
CNBC Daily Open: One day more to elections
  + stars: | 2024-11-04 | by ( Lim Hui Jie | ) www.cnbc.com   time to read: +2 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Markets shrug off weak jobs reportStocks rallied Friday to kick off November, led by Amazon and as traders shrugged off a disappointing jobs report. Harris gains ground in IowaIowa is not a state that many pollsters predicted will break for Democratic presidential candidate Kamala Harris. That, instead of the sitting president, could hold the key to how stocks perform going forward.
Persons: Blythe Andrews , Jr, Dow Jones, Stocks, shrugged, Warren Buffett, Harris, Kamala Harris, Donald Trump Organizations: Public, CNBC, U.S . Bureau of Labor Statistics, Boeing, Amazon, Dow Jones Industrial, Nasdaq, Berkshire, Bank of America, Democratic, Des Moines Register, Iowa Locations: Tampa , Florida, U.S, Berkshire, Omaha, Apple, Iowa Iowa, Iowa
The news Berkshire Hathaway sold another large chunk of Apple shares, according to the Warren Buffett -led company's earnings report Saturday. But it still held roughly $69.9 billion worth of Apple shares at the end of September. It's unclear why Berkshire is selling Apple, but investors don't seem too worried. AAPL YTD mountain Apple YTD Apple stock fell 1% in Monday's down market, the first chance Wall Street got to react to the news. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Berkshire Hathaway, Warren Buffett, Morgan Stanley, Jim Cramer, Jim, Buffett, Jim Cramer's Organizations: Berkshire, Apple, of America, CNBC, Nurphoto, Getty Locations: Omaha, Berkshire, Monday's, Manhattan , New York
Billy Joel is selling his massive waterfront estate in Centre Island, New York, for $49.9 million. The "Piano Man" singer and lifelong New Yorker is selling his massive waterfront estate in Centre Island, New York, after completing a five-year renovation project. The New York Times reported that Joel first spotted the waterfront estate as a teenager while harvesting oysters to earn extra money to support his working-class family. "I'll never live in a house like that," he said that he thought to himself at the time, The New York Times reported. AdvertisementTake a look inside Billy Joel's waterfront estate in Centre Island, New York, which is on the market for $49.9 million.
Persons: Billy Joel, Joel, , Berkshire Hathaway, MiddleSea, Forbes Organizations: Service, New Yorker, New York Times Locations: Centre Island , New York, New, Berkshire
Profit also rose at the BNSF railroad, which shipped more consumer goods, and Berkshire Hathaway Energy, where operating expenses declined. It has now sold more than 600 million of the iPhone maker’s shares in 2024, though Apple remained Berkshire’s largest stock holding, at $69.9 billion. The sales comprised a large portion of the $36.1 billion of stock, including several billion dollars of Bank of America shares, that Berkshire sold in the quarter. Operating profit from Berkshire’s dozens of businesses fell to $10.09 billion, or about $7,019 per Class A share, from $10.76 billion a year earlier. This more than offset a near doubling of underwriting profit at Geico.
Persons: CNN — Warren Buffett, Berkshire Hathaway, Hurricane Helene, Apple, Buffett, Helene, Whittaker Clark, Daniels, Greg Abel Organizations: CNN, Apple, Berkshire Hathaway Energy, Bank of America, Berkshire, Hurricane Milton Locations: Berkshire, Geico . Berkshire, Hurricane, Florida, Omaha , Nebraska
Warren Buffett turned heads as he dumped another big portion of his Apple stake, and here's where his top holdings stood at the end of the third quarter. Berkshire Hathaway disclosed in its earnings report that approximately 70% of its equity portfolio was concentrated in just five stocks — Apple, Bank of America , Coca-Cola , American Express and Chevron . Since mid-July, Berkshire has reaped more than $10 billion from selling its longtime Bank of America investment. The Omaha-based conglomerate's Chevron holding was untouched last quarter, worth $17.5 billion at the end of September. Its longtime holding Coca-Cola was also held steady last quarter, worth $28.7 billion.
Persons: Warren Buffett, Berkshire Hathaway, Buffett Organizations: Apple, Berkshire, Bank of America, American Express, Chevron, America Express Locations: Omaha, Berkshire
The Omaha-based conglomerate held $69.9 billion worth of Apple shares at the end of September, according to its third-quarter earnings report released Saturday morning. That implied Buffett offloaded approximately a quarter of his stake with about 300 million shares remaining in the holding. Warren Buffett sold another big chuck of his Apple stake, downsizing Berkshire Hathaway 's biggest equity holding for four quarters in a row. Before Apple, Buffett largely avoided technology companies for most of his career, saying they were outside of his circle of competence. Apple shares are up 16% on the year, trailing the S&P 500's 20% gain.
Persons: Buffett, Warren Buffett, Berkshire Hathaway, Ted Weschler, Todd Combs, buybacks Organizations: Oracle, Apple, Berkshire, U.S Locations: Omaha, Berkshire
Warren Buffett walks the floor ahead of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska, on May 3, 2024. Berkshire Hathaway 's monstrous cash pile topped $300 billion in the third quarter as Warren Buffett continued his stock-selling spree and held back from repurchasing shares. Meanwhile, since mid-July, Berkshire has reaped more than $10 billion from offloading its longtime Bank of America investment. Overall, the 94-year-old investor continued to be in a selling mood as Berkshire shed $36.1 billion worth of stock in the third quarter. The company states that it will buy back stock when Chairman Buffett "believes that the repurchase price is below Berkshire's intrinsic value, conservatively determined."
Persons: Warren Buffett, Berkshire Hathaway, Buffett Organizations: Berkshire, Oracle, Apple, Bank of America Locations: Omaha , Nebraska, Omaha, Berkshire
Berkshire Hathaway reduced its Apple stake again in the third quarter of 2024. Warren Buffett's company has now cut its shares in Apple by two-thirds over the last year. AdvertisementWarren Buffett's Berkshire Hathaway has cut its stake in Apple — again. Berkshire Hathaway reduced its holdings in the iPhone maker to just under $70 billion, according to its third-quarter earnings report, which was published Saturday. Berkshire Hathaway has consistently sold shares and grown its stockpile of cash over the last year.
Persons: Berkshire Hathaway, Warren Buffett's, Buffett, , Warren, Apple — Organizations: Apple, Service, Berkshire, Bank of America, CNBC Locations: Berkshire, Omaha
Citi reiterates Amazon as buy Citi said the e-commerce giant has "multiple catalysts for growth" following earnings on Thursday. Gordon Haskett upgrades Uber to buy from hold The firm said investors should buy the dip in Uber following earnings on Thursday. Goldman Sachs initiates Penguin Solutions as buy Goldman called Penguin a "high performance hardware solutions for enterprise AI at an attractive valuation." Wells Fargo downgrades Estee Lauder to equal weight from overweight Wells downgraded the stock following a disappointing earnings report on Thursday. KeyBanc upgrades Atlassian to overweight from sector weight KeyBanc upgraded the software company following earnings.
Persons: Goldman Sachs, Gordon Haskett, Goldman, Wells, Estee Lauder, it'll, Atlassian, Kinder Morgan, Morgan Stanley, Arista, Datadog, it's, CFRA, Berkshire Hathaway, Jefferies Organizations: Apple, Apple Intelligence, Citi, Amazon, Penguin Solutions, Penguin, Suncor Energy, " Bank of America, Nvidia, Artificial, TAM, Bank of America, UBS, Intel, Mizuho, IDA, Energy Locations: Asia
CNBC's Jim Cramer on Friday walked investors through next week's market action, highlighting the Federal Reserve's next meeting and earnings from Super Micro Computer. Despite the slew of earnings next week, Cramer said the presidential election will steal Wall Street's attention. Tuesday marks election day, and the polls remain deadlocked between Vice President Kamala Harris and former President Donald Trump. Cramer called Super Micro Computer's report "the most intriguing story" next week as shares declined recently when the tech company's auditor, Ernest & Young, resigned. The Fed will issue its decision on interest rates Thursday, and Cramer said the central bank needs to make a cut.
Persons: CNBC's Jim Cramer, Cramer, Berkshire Hathaway, , Warren, Buffett, Kamala Harris, Donald Trump, Ferrari, Ernest & Young, David Joyner, he's Organizations: Micro, Berkshire, Constellation Energy, Builders FirstSource, Ferrari, CVS, Qualcomm, Fed, Arista Networks Locations: China, America
He added, "Votes of union workers in the United States against tentative agreements tend to reflect the white-hot anger of union employees against their employers. Tentative agreements are their only chance for them to express their frustration with their employer and their anger at the way they have been treated." A BNSF spokesperson said it is planning to attend the formal national labor negotiations even as it has announced nine tentative union agreements, five of which have already been ratified. It also has tentative agreements with the International Brotherhood of Electrical Workers (IBEW), SMART-TD, SMART-TD-YDM (Yardmasters Department), the International Brotherhood of Boilermakers, and Iron Ship Builders (IBB). To date, Norfolk Southern has reached tentative agreements with 10 of its 13 unions, covering approximately 67% of its craft workforce.
Persons: Berkshire Hathaway, Jeremy Ferguson, Ferguson, Joe Biden, Richard Edelman, Mooney, Green, Murphy, Welch, Daniel Imbro, Stephen, Brotherhood of Railway Carmen, we've, Mark George, Imbro, it's Organizations: Union Pacific, CSX, BNSF, Canadian Pacific, Canadian Pacific Kansas City —, SMART, Railway Labor, National Carriers ' Conference Committee, Railroads, NSC, National Conference of Firemen, Oilers, Tran, Transportation Communications Union, TCU, Brotherhood of Railway, International Brotherhood of Electrical Workers, Yardmasters Department, International Brotherhood of Boilermakers, Iron Ship Builders, Norfolk, Norfolk Southern, National Carriers ' Locations: Southern, Berkshire, Canadian Pacific Kansas, United States, Norfolk Southern, Norfolk
Calls of the Day: Berkshire Hathaway, Citigroup, Visa and Uber
  + stars: | 2024-11-01 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCalls of the Day: Berkshire Hathaway, Citigroup, Visa and UberThe Investment Committee debate the latest Calls Of The Day.
Persons: Berkshire Organizations: Berkshire Hathaway, Citigroup, Visa, The
NASA Astronaut Rates Space Movies
  + stars: | 2024-10-29 | by ( Ian Phillips | David Ibekwe | ) www.businessinsider.com   time to read: +1 min
Retired NASA astronaut Nicole Stott watches and rates the realism of how outer space is portrayed in movies. She breaks down what would actually happen if you went outside in space without a helmet as seen in "Guardians of the Galaxy Vol. She explains the challenges of docking to a space station in "Interstellar," starring Matthew McConaughey, Anne Hathaway, and Matt Damon. Finally, she relates her own experiences in low gravity in "Passengers," starring Chris Pratt, Jennifer Lawrence, and Laurence Fishburne. During Nicole Stott's 30-year career at NASA, she worked as an engineer on the space shuttle and International Space Station programs and flew on two space missions.
Persons: Nicole Stott, Chris Pratt, Zoe Saldana, Bradley Cooper, Tom Hanks, Kevin Bacon, Bill Paxton, Sandra Bullock, George Clooney, Matthew McConaughey, Anne Hathaway, Matt Damon, Brad Pitt, Ben Affleck, Bruce Willis, Liv Tyler, John Glenn, Ed Harris, Dennis Quaid, Neil Armstrong, Ryan Gosling, Jennifer Lawrence, Laurence Fishburne, Nicole Stott's Organizations: NASA, Guardians, Astra, Space, Art Foundation
Warren Buffett hasn't endorsed Kamala Harris in her presidential race against Donald Trump. Buffett has said he doesn't want to risk hurting his workers and shareholders by voicing his views. AdvertisementWarren Buffett has not endorsed Kamala Harris or Donald Trump, and made it clear this week he will not publicly back either presidential candidate. He didn't endorse Joe Biden either, although Biden reportedly told a group of Wall Street executives in October 2020 that he "just got off the phone with Warren Buffett." It's also possible Buffett has spoken to Harris behind the scenes.
Persons: Warren Buffett hasn't, Kamala Harris, Donald Trump, Berkshire Hathaway, Hillary Clinton, Buffett, , Warren Buffett, Mr, Berkshire CEO's, Barack Obama, he's, he'd, shouldn't, Harris, Joe Biden, Biden, It's, Harris — Organizations: Berkshire, Obama, Service, Berkshire Hathaway's, Democratic, Wall Street Locations: Berkshire, Omaha
Warren Buffett is worried about a rise in impersonators looking to capitalize on his name by purporting to be him recommending an investment product or political candidate on social media. So much so that Berkshire Hathaway made the rare move of adding a statement on the matter to the front page of its website. The statement reads:“In light of the increased usage of social media, there have been numerous fraudulent claims regarding Mr. Buffett’s endorsement of investment products as well as his endorsement and support of political candidates. But Buffett wants to make sure everyone knows he would never do something like that. His actions were triggered in part by a fake political endorsement on Meta’s Instagram that was brought to his attention.
Persons: Warren Buffett, Berkshire Hathaway, Buffett, Becky Quick, “ I’m, , Kamala Harris, Donald Trump that’s, Elon Musk, Bill Ackman, Mark Cuban, Bill Gates, Harris, There’s, shuns bitcoin, Meta’s, Lacy O’Toole Organizations: Berkshire, The New York Times, CNBC Locations: Berkshire, Silicon Valley
Tom Holland will star in Christopher Nolan's next movie, The Hollywood Reporter reported on Monday. They hope starring in one of Nolan's films could boost Holland's career. AdvertisementTom Holland has reportedly been cast in Christopher Nolan's next movie, which fans hope will help him launch a career outside the Marvel Cinematic Universe. — ViewerAnon (@ViewerAnon) October 21, 2024Y’all can’t say anything about Tom Holland’s career now. He’s going to star in a Christopher Nolan movie, lead future Avengers movies including his own as Spider-Man.
Persons: Tom Holland, Christopher Nolan's, hasn't, , Matt Damon, Nolan's, Nolan, Christopher Nolan, — Eric Goldman, — Andrew J, Salazar, Tom Holland's, he's, Tom Holland’s, Oppenheimer, Cillian Murphy, Robert Downey Jr, Emily Blunt, Ledger, Oscar, Anne Hathaway, Hathaway Organizations: Hollywood, Hollands, Service, Marvel, America, Hollywood Reporter, Universal, Business Locations: Holland
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