Tyson posts mixed quarter, Cars.com remains independent, Warren Buffett cashes out: Companies to watch
Here are the companies Yahoo Finance is watching today.
A mixed quarter at Tyson Foods (TSN). The meat processing giant beat on earnings last quarter, but came in short on revenue. The CEO is warning the impact of an outbreak of swine fever in Asia is likely to take its toll on hog supplies there for years to come.
Cars.com (CARS) is driving ahead as an independent company. The board says it received no actionable bids in its search for a buyer. Now, they'll focus instead on a growth plan. The site fell short in its latest earnings report missing on earnings and revenue. It also cut its revenue forecast for the year.
It looks like Warren Buffett is cashing out. Buffett’s Berkshire Hathaway (BRK-A. BRK-B) sold a billion dollars more stock than it bought last quarter. Berkshire is now sitting on a record $122 billion dollar cash pile, after posting earnings of $14 billion dollars last quarter. It's not clear if Buffett plans to use that money for any big acquisitions in the coming months.
Fox Corp (FOX) is expanding. The media company struck a deal with Credible Labs for $265 million dollars. Credible Labs, listed on the Australian market, is an online marketplace that allows consumers to compare and refinance loans. In the deal, Fox will give $75 million in cash to Credible, in exchange for a 67% stake in the fintech company.
WeWork is one step closer to going public. It is reportedly close to naming JPMorgan Chase to lead its IPO next month. The co-working space operator was most recently valued at $47 billion dollars and is looking to raise $5 billion to $6 billion through a bond offering before its market debut.
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