|Day's Range||1.6400 - 2.5500|
The Kroger Co. (NYSE: KR) today announced that Rodney McMullen, Kroger's chairman and CEO, has been appointed to the American Heart Association (AHA) CEO Roundtable. McMullen joins more than 40 CEOs who are committed to improving the health and well-being of their employees and communities.
Kroger Co.’s stock soared Tuesday in the first day of trading after Warren Buffett’s Berkshire Hathaway Inc. said it bought a stake worth nearly $550 million, even as an analyst argued Tuesday against the wisdom of buying Kroger shares.
The grocery giant will donate its soon-to-close Springfield store, as well as land and non-proprietary contents of the facility without restrictions on future use.
U.S. stocks dropped on Tuesday after a surprise sales warning from tech bellwether Apple highlighted the impact of the coronavirus outbreak on global supply chains. The news also sent Apple suppliers, including Qualcomm Inc , Broadcom Inc, Qorvo Inc and Skyworks Solutions Inc, lower by 1.8% to 2.3%.
Warren Buffett took positions in Biogen and Kroger. Investors who want to follow Buffett's picking of these two value stocks can also play these ETFs as well.
Buffett disclosed late on Friday that he had taken a position in the beaten-down grocer, and after a long holiday-weekend, Kroger stock jumped on Tuesday.
Kroger shares rose after Warren Buffett's Berkshire Hathaway took a 2.3% stake in the No. 1 U.S. grocery chain, and R5 Capital analyst Scott Mushkin advises investors to sell into that strength.
Technology stocks dragged down Wall Street on Tuesday after a surprise sales warning from bellwether Apple fanned worries about the impact of the coronavirus outbreak on global supply chains. The world's most valuable technology firm said it was unlikely to meet its March-quarter sales guidance because of slower iPhone production and weaker demand in China, sending its shares down 2.5%.
Wall Street was set to open lower on Tuesday as a surprise sales warning from bellwether Apple fanned worries about the impact of the coronavirus outbreak on global supply chains. The world's most valuable technology firm said it was unlikely to meet its March-quarter sales guidance because of slower iPhone production and weaker demand in China, sending its shares down 2.3% in premarket trading. Apple's warning highlights issues that will eventually hurt a lot of companies with exposure to China, said Art Hogan, chief market strategist at National Securities in New York.
Berkshire Hathaway (NYSE: BRK-A ) (NYSE: BRK-B ) trimmed its stake in Apple Inc. (NASDAQ: AAPL ) by 37 million shares in the fourth quarter of 2019, according to its 13F filing with the Securities and ...
Kroger Co.’s stock soared in after-hours trading Friday following the disclosure that Warren Buffett’s Berkshire Hathaway conglomerate has made a huge investment in the supermarket giant’s stock.
In a regulatory filing detailing its U.S.-listed investments as of Dec. 31, Berkshire also said it took a new 648,000 share stake in drugmaker Biogen Inc worth $192.4 million, and significantly reduced its stakes in two major banks, Wells Fargo & Co and Goldman Sachs Group Inc. Berkshire has sold more than 86 million shares, or 21%, of its Wells Fargo stake since June 30, as the bank tries to restore its reputation following scandals over its mistreatment of customers. Berkshire began investing in Wells Fargo in 1989.
(Bloomberg) -- Warren Buffett’s Berkshire Hathaway Inc. piled funds into biotechnology company Biogen Inc. and supermarket operator Kroger Co. as it trimmed some of its bank wagers in the last few months of 2019.Berkshire’s Kroger investment, which totaled $549 million at the end of the year, was disclosed more than a year after Buffett’s conglomerate sold off its stake in retailing giant Walmart Inc. The company also built a $192 million stake in Biogen while trimming its stakes in Wells Fargo & Co., Goldman Sachs Group Inc. and Bank of America Corp., according to a regulatory filing Friday.Kroger shares surged in late trading, with the stock up 5.6% to $29.81 at 4:59 p.m. in New York. Buffett’s company is wagering on a business that’s trying to navigate a shifting retail landscape, with challenges from online grocery companies and discounters including Walmart, a company that Berkshire eventually exited in 2018.Biogen stock also climbed, rising 1.6% to $338.40 after Berkshire disclosed its holding. The Omaha, Nebraska-based conglomerate hasn’t historically been a big investor in the biotechnology industry, although the company already owns a stake in pharmaceutical company Teva Pharmaceutical Industries Ltd.Both the Biogen and Kroger stakes are small in comparison with some of Berkshire’s biggest bets. The company’s Apple Inc. holding, which was cut 1.5% in the fourth quarter, was valued at $72 billion at the end of the year.Buffett’s company has been trimming its stakes in some major lenders to try to avoid crossing a 10% ownership threshold that often draws regulatory scrutiny. He was closer to that level with Wells Fargo and Bank of America, but holds a stake of only about 3.4% in Goldman Sachs.Here’s some other key takeaways from Berkshire’s 13F:Berkshire disclosed two new exchange-traded fund holdings, in Vanguard S&P 500 ETF and SPDR S&P 500 ETF Trust. The bets were small investments, totaling $25 million across both.Buffett’s company ramped up its bet on Occidental Petroleum Corp., bringing that investment to $780 million. Berkshire also owns preferred stock in the oil producer, which Buffett obtained as part of a deal to help Occidental in its pursuit of Anadarko Petroleum Corp.Berkshire also increased its stakes in furnishings retailer RH, Suncor Energy Inc. and General Motors Co.For more on Hedge Funds Fourth-Quarter Investments in 13F Filings, click here for our TOPLive blog.(Updates with more information on bank investments starting in second paragraph, Kroger and Biogen shares starting in third paragraph.)To contact the reporter on this story: Katherine Chiglinsky in New York at email@example.comTo contact the editors responsible for this story: Michael J. Moore at firstname.lastname@example.org, Daniel Taub, Lananh NguyenFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Warren Buffett's Berkshire Hathaway Inc. started new stakes in Biogen Inc. and Kroger Co. while increasing its stake in Kraft Heinz Co. , the company disclosed late Friday in a Securities and Exchange Commission filing. Berkshire reported a stake of about 648,000 shares of Biogen and 549,000 shares of Kroger that were not listed in last quarter's filing. Kroger shares rose 6% after hours, while Biogen shares advanced 2%. Also, Berkshire increased its stake in Kraft to about 10.5 million shares from 9.1 million in the previous quarter. Berkshire cut its stake in Travelers Cos. to about 312,000 shares from a previous stake of nearly 6 million shares.
New Feature Allows Brands and Media Agencies to View Full Sales Impact of Ad Spend CINCINNATI, OH / ACCESSWIRE / February 13, 2020 / The Kroger Co.'s (NYSE:KR) media advertising business, Kroger Precision ...
Kroger Co. is remodeling a prominent East Side store. Downtown Cincinnati-based Kroger (NYSE: KR), the nation’s largest operator of traditional supermarkets, notified customers last week in a letter that it will begin the massive remodeling project at its Hyde Park store this month. Kroger calls the change a “major remodel.” It will start by integrating its pharmacy and its Little Clinic to create a Health and Wellness area.