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☆ Buffett's Berkshire Hathaway exits India's Paytm in $165 million deal
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Rupak De Chowdhuri/File Photo Acquire Licensing RightsBENGALURU, Nov 24 (Reuters) - Billionaire Warren Buffett's Berkshire Hathaway (BRKa.N) has exited India's Paytm (PAYT.NS) after selling its entire stake in the company for about 13.71 billion rupees ($164.70 million) through a bulk deal on Friday. Berkshire Hathaway's BH International Holdings has sold more than 15.6 million shares of the digital payments firm, with a weighted average price of 877.29 rupees per share, exchange data showed. Who the buyers of the Paytm shares are is not known. Paytm did not immediately respond to a Reuters request for additional details, while Berkshire was not available for comment. As of September 2023, BH International Holdings had a 2.46% stake in the company, as per exchange data.

Persons: Warren Buffett's Berkshire Hathaway, Paytm, Vijay Shekhar Sharma, Hritam Mukherjee, Sonia Cheema, Pooja Desai Organizations: REUTERS, Rights, ., Holdings, BH International Holdings, SoftBank, HK, Ant, Thomson Locations: Kolkata, India, . Berkshire, Berkshire, Bengaluru

☆ Warren Buffett celebrates Thanksgiving with a nearly $900 million gift - and details what will happen to his fortune after his death
▼ + stars: | 2023-11-22 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Warren Buffett has made giving away Berkshire Hathaway stock a Thanksgiving tradition. He just donated $866 million worth of shares to his family's foundations, echoing last year's gift. Buffett discussed wealth and philanthropy, and revealed fresh details about his estate planning. The famed investor donated close to $900 million worth of his company's stock to four of his family's foundations on Tuesday, topping his nearly $800 million gift last November. He gave 1.5 million B shares to The Susan Thompson Buffett Foundation, named after his late wife, and 300,000 shares to each of his three children's organizations: The Sherwood Foundation, The Howard G. Buffett Foundation, and NoVo Foundation.

Persons: Warren Buffett, Buffett, —, Warren Buffett's, Susan Thompson Buffett, Howard G, Melinda Gates, — Howard, Susan, Peter —, Greg Abel Organizations: Berkshire Hathaway, Service, Berkshire Hathaway's, Susan Thompson Buffett Foundation, The Sherwood Foundation, Buffett Foundation, NoVo Foundation, Melinda Gates Foundation, Berkshire Locations: Berkshire

☆ Warren Buffett's company has built a record $157 billion cash pile so he can capitalize when the economy tanks, veteran professor Steve Hanke says
▼ + stars: | 2023-11-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Warren Buffett's Berkshire Hathaway has built a record $157 billion pile of cash and Treasuries. Buffett is gearing up to snag bargains and strike deals once the economy weakens, Steve Hanke says. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . "This is classic Buffett," Hanke, a professor of applied economics at Johns Hopkins University, told Markets Insider in a recent interview. The Berkshire boss will profitably put his dry powder to work once the economy slumps, Hanke said.

Persons: Warren, Berkshire Hathaway, Buffett, Steve Hanke, Hanke, —, Warren Buffett, they've, who's, Ronald Reagan, Goldman Sachs, Berkshire's, Lee Munson Organizations: Service, Johns Hopkins University, Fed, Toronto Trust, Electric, Dow Chemical, Swiss, Berkshire Locations: American, Toronto Trust Argentina, Berkshire

☆ Warren Buffett is piling up cash because he sees a storm brewing and can't find bargains, wealth manager says
▼ + stars: | 2023-11-17 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Warren Buffett's Berkshire Hathaway held a record $157 billion of liquid assets at the last count. Berkshire is betting on growth and value with Apple and Bank of America, the wealth manager says. AdvertisementWarren Buffett's stack of cash is bigger than ever because he spies problems on the horizon and he's struggling to find bargains, one wealth manager says. Buffett's Berkshire Hathaway held a record $157 billion in liquid assets like dollars and Treasury bills on September 30. AdvertisementMunson said that Berkshire is essentially pursuing a barbell strategy of owning both growth and value stocks.

Persons: Warren, Berkshire Hathaway, Lee Munson, —, Buffett, He's, Kraft Heinz, he's, Munson Organizations: Berkshire, Apple, Bank of America, Service, Wealth, Yahoo Finance, Chevron, Big Tech Locations: Berkshire, Japan

TOKYO, Nov 17 (Reuters) - Warren Buffett's vote of confidence in Japanese trading houses is helping Mitsubishi Corp (8058.T) overcome long-held investor wariness about its complex global business that covers everything from sausages to natural gas, a top executive said. "Until fairly recently, being an industrial conglomerate had negative connotations," Kobayashi said in an interview. Appointed as the trading house's first chief stakeholder engagement officer in April, Kobayashi is now focused on wooing investors who focus on growth, not just value. Berkshire first announced roughly 5% stakes in August 2020, with Buffett saying the trading houses "have many joint ventures throughout the world and are likely to have more". read moreStill, Mitsubishi is trading at a price-to-book ratio of just a little over 1, or at almost no premium to the value of its assets.

Persons: Warren Buffett's, wariness, Berkshire Hathaway, Kenji Kobayashi, Kobayashi, Itochu, outperforming, Buffett, Benjamin Graham, that's, Anton Bridge, Miho Uranaka, David Dolan, Miral Organizations: Mitsubishi Corp, Berkshire, Reuters, Mitsubishi, Mitsui, Sumitomo, Tokyo Stock Exchange, Nikkei, Columbia University, Thomson Locations: TOKYO, Berkshire, Japan

Target's bright outlook lifted shares of other retailers including Macy's (M.N), which rose 7.5%, and Kohl's (KSS.N), which closed up almost 9%. The S&P 500 consumer staples index (.SPLRCS), which includes Target, was the top sector gainer, adding 0.7%. "Those two data points reaffirmed the message from Tuesday that the Fed seems to be navigating the soft landing quite well," said Ronald Temple, chief market strategist at Lazard. Among individual stocks, retailer TJX's (TJX.N) shares fell 3.3% after it forecast current-quarter profit below Wall Street expectations, signaling spiraling costs weighing on margins. The S&P 500 posted 42 new 52-week highs and no new lows; the Nasdaq Composite recorded 106 new highs and 89 new lows.

Persons: ValueAct, Stocks, Ronald Temple, Wall, Temple, Brendan McDermid, Walt Disney, Russell, Joe Biden, Xi Jinping, Biden, Warren Buffett's Berkshire Hathaway, decliners, Sinéad Carew, Sruthi Shankar, Amruta, Shinjini Ganguli, Maju Samuel, Pooja Desai, Richard Chang Organizations: Dow, Nasdaq, Federal, Target, Reuters, Lazard, Dow Jones, New York Stock Exchange, REUTERS, Walt, ValueAct Capital, Money, U.S . House, Senate, Republican, TJX's, Sirius XM, NYSE, Thomson Locations: New York City, U.S, New York, Bengaluru

☆ A financially independent millennial says it's 'an incredible time' to be an investor and explains why he's diversifying his portfolio by purchasing niche websites and watches
▼ + stars: | 2023-11-16 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

He's continued to grow his wealth by investing in real estate and co-founding MMG Media Group, which builds, buys, scales, and sells websites. "I don't want to be fully concentrated in index funds and owning websites and having a few real estate properties," he told Insider. Investing in niche websites and watchesSabatier subscribes to one of Warren Buffett's investing philosophies: Be fearful when others are greedy and greedy when others are fearful. "So it's an incredible time to be buying niche websites and optimizing them." He particularly likes buying websites because they're asset-light and relatively affordable.

Persons: Grant Sabatier, He's, Sabatier, Warren Buffett's, everyone's, there's, Pete Davidson, Jack Kerouac's Rolex, Sabatier — Organizations: Business, MMG Media Group, Rolex Locations: American

[1/3] Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. The bright outlook lifted shares of other retailers including Macy's (M.N) and Kohl's (KSS.N), while the S&P 500 consumer staples index (.SPLRCS), which includes Target, was among the top sector gainers. "Those two data points reaffirmed the message from Tuesday that the Fed seems to be navigating the soft landing quite well," said Ronald Temple, chief market strategist at Lazard. The benchmark S&P 500 (.SPX) and the tech-heavy Nasdaq (.IXIC) had posted their biggest daily percentage gains in more than six months on Tuesday, after the consumer prices data. The S&P 500 posted 42 new 52-week highs and no new lows; the Nasdaq Composite recorded 104 new highs and 69 new lows.

Persons: Brendan McDermid, ValueAct, Stocks, Ronald Temple, Temple, Joe Biden, Xi Jinping, Biden, Walt Disney, Warren Buffett's Berkshire Hathaway, decliners, Sinéad Carew, Sruthi Shankar, Amruta, Shinjini Ganguli, Maju Samuel, Pooja Desai, Richard Chang Organizations: New York Stock Exchange, REUTERS, Companies, Dow, Nasdaq, Federal, Reuters, Lazard, Dow Jones, U.S . House, Senate, Republican, ValueAct Capital, Sirius XM, NYSE, Thomson Locations: New York City, U.S, New York, Bengaluru

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 23, 2023. Target(TGT.N) shares advanced 14.2% before the bell as the big-ticket retailer forecast fourth-quarter profit largely above Wall Street expectations on easing supply-chain costs. The upbeat forecast also lifted shares of rival Walmart (WMT.N) up 1.2%. Separately, retail sales are expected to have slipped 0.3% on a month-over-month basis in October after 0.7% increase in September. ET, Dow e-minis were up 114 points, or 0.33%, S&P 500 e-minis were up 18.75 points, or 0.42%, and Nasdaq 100 e-minis were up 93.25 points, or 0.59%.

Persons: Brendan McDermid, Stuart Cole, Joe Biden, Xi Jinping, Biden, JD.com, Warren Buffett's Berkshire Hathaway, Sruthi Shankar, Amruta, Shinjini Ganguli, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Target, Walmart, U.S . Federal, Equiti, Dow e, U.S . House, Senate, Republican, Sirius XM, Thomson Locations: New York City, U.S, Bengaluru

☆ CNBC Daily Open: Markets spiked on October’s flat CPI
▼ + stars: | 2023-11-15 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Boost from CPIU.S. stocks jumped Tuesday on the cooler-than-expected CPI report, with major indexes notching their best day since April. [PRO] Secret stock holdings at BerkshireWarren Buffett's Berkshire Hathaway dumped its stake in one auto company, exited some of its smaller positions and trimmed some big names its stock holdings, according to a new regulatory filing. More intriguingly, Berkshire also asked the Securities and Exchange Commission to keep one or more of its stock holdings confidential.

Persons: Australia's, Berkshire Hathaway Organizations: CNBC, CPI, CPI U.S, Berkshire Warren, Securities and Exchange Commission Locations: Los Angeles , California, U.S, Asia, Pacific, China, Japan, Berkshire, intriguingly

[1/3] Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. Target (TGT.N) advanced 17.6% as the big-box retailer forecast fourth-quarter profit largely above Wall Street expectations on easing supply-chain costs. The bright outlook also lifted shares of other retailers, while the S&P 500 consumer staples index (.SPLRCS), which houses Target, jumped 0.7%. U.S. producer prices eased more than expected amid a sharp drop in gasoline costs, providing further evidence that inflation was trending lower. Advancing issues outnumbered decliners by a 2.05-to-1 ratio on the NYSE and by a 2.13-to-1 ratio on the Nasdaq.

Persons: Brendan McDermid, Chris Zaccarelli, Joe Biden, Xi Jinping, Biden, JD.com, Warren Buffett's Berkshire Hathaway, Sruthi Shankar, Amruta, Shinjini Ganguli, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Companies, Dow, Nasdaq, Federal Reserve, Target, Reuters, U.S, Independent, Alliance, Dow Jones, U.S . House, Senate, Republican, Disney, ValueAct, Sirius XM, NYSE, Thomson Locations: New York City, U.S, Bengaluru

☆ Warren Buffett’s Berkshire trimming holdings, keeping new stock secret
▼ + stars: | 2023-11-14 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett's Berkshire Hathaway sold a number of stocks last quarter during the volatile market, according to a new regulatory filing. The Omaha-based conglomerate dumped its remaining $780 million stake in General Motors , a stock Berkshire has been trimming for a few quarters. Berkshire also sold its $650 million stake in materials company Celanese , while exiting smaller positions in United Parcel Service , Johnson & Johnson , Mondelez International and Procter & Gamble. These holdings were still worth more than $1 billion each at the end of September, however. Berkshire has also asked the SEC to keep the details of one or more of its stock holdings confidential.

Persons: Warren, Berkshire Hathaway, Johnson, Todd Combs, Ted Weschler, Apple, Kraft Heinz, Moody's, Buffett Organizations: General Motors, United Parcel Service, Johnson, Mondelez International, Procter, Gamble, HP, Chevron, Berkshire, Bank of America, American Express, SEC Locations: Omaha, Berkshire

☆ David Beckham's mentor praised Warren Buffett's leadership style - and urged soccer-club owners to act the same way
▼ + stars: | 2023-11-12 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

David Beckham's mentor, Sir Alex Ferguson, praised Warren Buffett in his book about leadership. Like Buffett, soccer-club owners should be a source of funding and advice when needed, he said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementSoccer-team owners should lead like Warren Buffett, according to the legendary manager who mentored David Beckham. Insider has spoken to several CEOs of Berkshire subsidiaries in recent years, and they've painted a similar picture to Ferguson.

Persons: David Beckham's, Sir Alex Ferguson, Warren Buffett, Buffett's, Buffett, —, David Beckham, Michael Moritz, Berkshire Hathaway, Ferguson, they've, Charlie Munger, He's, Steve Jobs, Jobs Organizations: Manchester United, Service, Premier League, Cup, Berkshire, American Express, Football Locations: Berkshire

☆ Warren Buffett's company is so massive it's like a mini US economy - and its latest earnings may stoke recession fears
▼ + stars: | 2023-11-09 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +7 min

The famed investor's company reported lower revenues and profits in several divisions last quarter. Here's a roundup of Berkshire's weak spots last quarter:BNSF Railway - operating revenues fell by 12% and earnings by 15%. Manufacturing: consumer products - revenues fell by 2% in the third quarter and 13% in the nine months to September. AdvertisementAdvertisementBuffett foreshadowed the challenges, warning in May that most of Berkshire's businesses would report profit declines this year. While the US has escaped recession so far, Berkshire's earnings suggest there are some cracks in the economy.

Persons: Warren, Berkshire Hathaway, Here's, —, Clayton, Buffett Organizations: Service, BNSF Railway, Manufacturing, Clayton Homes, Federal Reserve Locations: Berkshire, Forest

☆ Occidental Petroleum beats Q3 estimates on higher production
▼ + stars: | 2023-11-08 | by ( Sabrina Valle | Thomson Reuters | U.S. Energy Correspondent Focused In Covering Global Operations Of Oil Majors Out Of Houston. | ) www.reuters.com time to read: +2 min

The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 30, 2019. The oil and gas company reported a $1.18 a share profit compared to average Wall Street analyst forecasts for an 84 cent a share profit, according to LSEG. Its chemical and midstream unit earnings fell compared to a year ago. Midstream swung to a loss of $130 million from a $104 million profit. Its chemicals business profit fell to $373 million from $580 million a year ago.

Persons: Brendan McDermid, Warren Buffett's, Midstream, Sabrina Valle, Sourasis Bose, Krishna Chandra Eluri, Stephen Coates, Jamie Freed Organizations: Occidental Petroleum, New York Stock Exchange, REUTERS, Rights, Tuesday, Occidental, Berkshire Hathaway's, Anadarko Petroleum, BlackRock, Devon Energy, Thomson Locations: New York, U.S, Berkshire, Occidental, Texas, Devon, Houston, Bengaluru

☆ The No. 1 'hidden' skill behind billionaire Bill Gates' success, says psychology expert—it works 'in any field'
▼ + stars: | 2023-11-07 | by ( Morgan Housel | ) www.cnbc.com time to read: +2 min

NEW YORK, NEW YORK - SEPTEMBER 21: Bill Gates, Founder of Breakthrough Energy and Co-Chair of the Bill & Melinda Gates Foundation, speaks onstage at The New York Times Climate Forward Summit 2023 at The Times Center on September 21, 2023 in New York City. Optimism and pessimism are hard to deal with. Optimism and pessimism seem like conflicting mindsets, so it's more common for people to prefer one or the other. Successful people find a balance between pessimism and optimismBill Gates is a great example of how effective this hidden skill is. What Gates seems to get is that you can only be an optimism in the long run if you're pessimistic enough to survive the short run.

Persons: Bill Gates, Melinda Gates, Charlie Rose, Warren Buffett's, Gates Organizations: NEW, Breakthrough Energy, Melinda Gates Foundation, The New York, Climate, The Times Center, Microsoft Locations: New York City

☆ Ending the 40-hour workweek is possible, but it'll require sacrifices from all of us
▼ + stars: | 2023-11-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we're looking at the internet calling for changes to the "soul-crushing" and "depressing" 9-to-5 workday. The 40-hour workweek is facing a reckoning after a recent grad's viral TikTok emotionally questioning how people have time for a personal life while working a full-time job. AdvertisementAdvertisementSo yes, upending the 9-to-5 is possible — and worth considering — but only with a bit of sacrifice from all of us. Earnings today: Uber, eBay, H&R Block, Nintendo, and other companies.

Persons: —, Dolly Parton, Jeff Kravitz, FilmMagic, Dolly, Gen, Insider's, Gen Z, Tim Paradis, I've, we'd, Rebecca Zisser, Ray Dalio, That's, Rob Copeland's, Dalio, Warren Buffett's, Sam Altman Justin Sullivan, OpenAI's, Sam Altman, Slack, Lidiane Jones, Bumble, Tesla, Samantha Lee, WeWork, they're, Billie Jean King, Bryan Johnson, Dustin Giallanza, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Bridgewater Associates, Bank of America, EV, Microsoft, Billie Jean King Cup, eBay, Nintendo Locations: Taylor, Berkshire, Kentucky, Mississippi, Sevilla, Spain, Australia, Canada, Czech Republic, France, Germany, Italy, Kazakhstan, Poland, Slovenia, Switzerland, New York City, San Diego, London, New York

☆ Warren Buffett keeps selling BYD. Why some analysts still say it’s a buy
▼ + stars: | 2023-11-06 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

That's up nearly 50% from where BYD shares closed Friday. In its latest offloading of BYD, Berkshire had sold its shares for an average of 245.86 Hong Kong dollars, according to a filing with the Hong Kong stock exchange . Top brand in China BYD is the top brand that consumers in China consider when buying an electric car, Bernstein analysts said in a Nov. 1 report. First-time car buyers and current owners of traditional Chinese, Korean and U.S. brands are more drawn to buy a BYD car next, the Bernstein analysis found. Jefferies on Oct. 31 raised its price target on BYD to 331 Hong Kong dollars, while reiterating a buy rating.

Persons: Warren, Berkshire Hathaway, BYD, Paul Gong, Gong, Buffett, Wang Chuanfu, Tesla, Bernstein, Jefferies, Charlie Munger, Munger, Elon, — CNBC's Michael Bloom, Alex Crippen Organizations: UBS Global Research, UBS, Hong, CNBC, Tesla Locations: China, Hong Kong, BYD , Berkshire, Berkshire, U.S, Southeast Asia, Europe, Buffett's

☆ One options trader is making a big bet Disney will pop 10% on earnings this week
▼ + stars: | 2023-11-06 | by ( Michael Khouw | ) www.cnbc.com time to read: +5 min

We'll touch on Berkshire Hathaway's weekend report, review some interesting companies reporting in the week ahead and then analyze a curious call spread in Disney ahead of earnings. Our thinking, and the options sentiment suggested, that earnings might be the catalyst for a turnaround. It seems at least one institutional options trader thinks that earnings might be the catalyst for an upside move in the name. With Disney trading around $85 a share, apparently someone is willing to bet a small percentage of the current stock price that the stock could pop well over 10% post-earnings — something that hasn't happened since their August 2022 earnings release. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: Warren, Warren Buffett, Charlie Munger, Berkshire Hathaway Organizations: Berkshire, MGM Resorts, Warner Bros Discovery, Disney, ESPN, DIS Locations: Disney, Berkshire

☆ CNBC Daily Open: A cool jobs report heats up markets
▼ + stars: | 2023-11-06 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Winning weekStocks and bonds in the U.S. rallied in tandem on Friday as markets digested jobs data and rebounded from October lows. Musk's GrokElon Musk's new AI company, xAI, released Grok, a generative artificial intelligence chatbot similar to ChatGPT. But Buffett's company did register a loss of $24.1 billion in the third quarter because of drops in Apple's shares.

Persons: nonfarm, That's, Grok Elon, Grok, Berkshire Hathaway, Stocks, Piper Sandler Organizations: Los Angeles, CNBC, Siemens, India's Siemens Ltd Locations: Los Angeles , California, U.S

☆ CNBC Daily Open: Markets enjoyed early frost in October’s jobs report
▼ + stars: | 2023-11-06 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Markets reboundStocks and bonds in the U.S. rallied in tandem on Friday as markets digested jobs data and rebounded from October lows. [PRO] Surging semiconductor salesThe semiconductor industry was mired in a supply glut for the most of last year. For one, there was a 13% month on month jump in September's semiconductor sales to $46.9 billion.

Persons: nonfarm, That's, Korea's Kospi, Musk's Grok Elon, Grok, Berkshire Hathaway Organizations: CNBC, KPMG, Citi Locations: U.S, Asia, Pacific

☆ A 'once-in-a-generation' market opportunity thanks to some unfamiliar names
▼ + stars: | 2023-11-06 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at why the market might be on the cusp of a once-in-a-generation investing moment (but not with the names you're familiar with). The big storyUnder the radarA trader looks at market charts on the floor of the New York Stock Exchange on January 18, 2023. Angela Weiss/AFP/Getty ImagesWhen it comes to the stock market, the real value is in the crumbs. AdvertisementAdvertisementThe former chief investment strategist at Merrill Lynch views the chance to get in on less-glamorous stocks as a "once-in-a-generation" opportunity. The end of the AI market boon.

Persons: —, Stanley, Angela Weiss, Richard Bernstein, Merrill Lynch, Insider's Jennifer Sor, Bernstein, Jennifer, Brendan McDermid, Fundstrat's Tom Lee, Charlie Munger, Warren Buffett's, Munger, there's, Berkshire Hathaway, Bill Smead, Smead, Kendrick Lamar's, Rishi Sunak, Linda Yaccarino, Hitler, Elon Musk, carles miro, Getty, Tyler Le, Gen Zers, Zers, Donald Trump, OpenAI, OpenAI DevDay, Adolphe Sax, Martha Stewart, Lexie Moreland, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, New York Stock Exchange, Getty, Bank of America, REUTERS, Elon, AI, Trump, Trump Organization, OpenAI Locations: Victoria, New York City, San Diego, London, New York

☆ Stocks making the biggest moves midday: Hilton Grand Vacations, Paramount, Albemarle and more
▼ + stars: | 2023-11-06 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Hilton Grand Vacations — The stock declined roughly 7% after the lodging company said it would acquire Bluegreen Vacations for about $1.5 billion . Hilton Grand Vacations also posted its third-quarter results, posting revenue of $1.02 billion, down from $1.12 billion a year earlier. Berkshire Hathaway —The B-class shares of Warren Buffett's investment company fell nearly 2% after Berkshire reported its third-quarter results on Saturday. Constellation Energy — The energy company gained nearly 7% after raising its earnings guidance for the full year. The company anticipates adjusted EBITDA of $3.80 billion to $4 billion, while its previous guidance was $3.3 billion to $3.7 billion.

Persons: Raymond James, SolarEdge, Wells, Albemarle —, Berkshire Hathaway, Warren, Dan Eggers, Davidson, Yun Li, Alex Harring, Pia Singh, Jesse Pound, Tanaya Macheel Organizations: Hilton, Paramount Global, Bank of America, Albemarle, UBS, Berkshire, Dish, Constellation Energy, Dominion Energy, Barclays, Holdings, D.A, Booking Holdings Locations: Berkshire

☆ Buffett's Berkshire posts bigger loss as stocks fall; operating profit sets record
▼ + stars: | 2023-11-04 | by ( Jonathan Stempel | ) www.reuters.com time to read: +6 min

Operating profit rose 41% to $10.76 billion, even as Berkshire's net loss more than quadrupled to $12.77 billion. "Against that backdrop it's not surprising that Berkshire's consumer and housing-related subsidiaries are seeing pressure," she said. "Berkshire is disciplined," said Tom Russo, a partner at Gardner Russo & Quinn in Lancaster, Pennsylvania who has owned Berkshire stock since 1982. Berkshire's net results swing widely because accounting rules require the company to report investment gains and losses even if it buys and sells nothing. His $117.5 billion net worth ranks fifth worldwide according to Forbes magazine.

Persons: Rick Wilking, Warren Buffett's, Jim Shanahan, Edward Jones, Cathy Seifert, extol, Buffett, Tom Russo, Gardner Russo, Quinn, Cash, Berkshire's, Ian, Geico, Shanahan, PACIFICORP, Haslam, Jonathan Stempel, Ira Iosebashvili, Jason Neely, Diane Craft Organizations: Berkshire Hathaway, REUTERS, Warren Buffett's Berkshire Hathaway Inc, Apple, Treasury, BNSF, Clayton Homes ., Berkshire, Forbes, . Berkshire, Thomson Locations: Omaha, U.S, Berkshire, Omaha , Nebraska, Lancaster , Pennsylvania, California, Florida , New Jersey, New York, United States, Israel

☆ Berkshire Hathaway posts a 40% jump in operating earnings, cash pile swells to a record $157 billion
▼ + stars: | 2023-11-04 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

An Andy Warhol-like print of Berkshire Hathaway CEO Warren Buffett hangs outside a clothing stand during the first in-person annual meeting since 2019 of Berkshire Hathaway Inc in Omaha, Nebraska, U.S. April 30, 2022. Warren Buffett's Berkshire Hathaway on Saturday reported a big jump in third-quarter operating earnings, while sitting on a record amount of cash that surpassed $157 billion. The Omaha-based conglomerate's operating earnings — which encompass profits made from the myriad of wholly owned businesses such as insurance, railroads and utilities — totaled $10.761 billion last quarter. That's 40.6% higher than the $7.651 billion earned from the same quarter a year ago. Berkshire held a record level of cash at the end of September — $157.241 billion — topping the $149.2 billion high set in the third quarter of 2021.

Persons: Andy Warhol, Berkshire Hathaway, Warren Buffett, Warren Buffett's Berkshire Hathaway Organizations: Berkshire, Berkshire Hathaway Inc Locations: Omaha , Nebraska, U.S, Omaha, Berkshire

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