Warren Buffett's Berkshire Hathaway buys $75 million Apple shares.
Warren Buffett's Berkshire Hathaway buys $75 million Apple shares.
Lockheed Martin Corporation LMT is expected to beat earnings when it reports third-quarter 2018 results on Oct 23 before the opening bell. In the last-reported quarter, this aerospace and defense company delivered a positive earnings surprise of 10.80
Shares of RV-maker Winnebago Industries (NYSE: WGO) leapt 17.6% in early trading after the company reported earnings Wednesday, before retreating to a more recent price up just 5% from yesterday's close. For its fiscal fourth quarter of 2018, Winnebago reported $0.94 per share in earnings, exceeding expectations for $0.86, on sales of $536.2 million. Motorhome sales slowed, but towables were a bright spot for Winnebago in Q4.
RBC Capital Markets, Wolfe Research, and (BCS) all upgraded the shares this month after Larry Culp was named to replace John Flannery at the helm. Today, the Financial Times reported that GE Power was going to win a contract in Iraq over rival (SIE) (SIEGY). Wolfe analyst Nigel Coe wrote that could help turn investor sentiment on GE, noting that the struggles in GE Power are what drives most of the negative feelings toward the stock.
Kinder Morgan Beats Q3 Earnings Estimates, Improves Leverage Kinder Morgan’s third-quarter results Kinder Morgan (KMI) announced its third-quarter results on October 17 after the markets closed. The company announced an adjusted EPS of $0.21—up ~40%
Hackers broke into the accounts of Alipay users and made off with an unknown amount of cash, according to Bloomberg. The hackers used stolen Apple identities to carry out the theft. Tencent (TCEHY) also reported theft of funds from its mobile payment app WePay, also called WeChat Pay, where stolen Apple identities were involved.
Tech stocks have been killed lately. Thanks to rising rates pressuring equity valuations, trade concerns dampening the outlook for global growth and regulation threatening to upend secular growth trends, once red-hot tech stocks have recently found themselves in Wall Street’s garbage pile.
It's another stumble for MoviePass, which in recent months has repeatedly adjusted its movie subscription plans and taken out hefty loans to cover massive losses. The New York Attorney General Barbara Underwood has opened a probe into MoviePass parent company Helios and Matheson HMNY , a source familiar with the matter told CNBC. The attorney general is using the Martin Act, a statute designed to protect New York investors.
Senate Majority Leader Mitch McConnell on Tuesday blamed rising federal deficits and debt on a bipartisan unwillingness to contain spending on Medicare, Medicaid and Social Security, and said he sees little chance of a major deficit reduction deal while Republicans control Congress and the White House. “It’s disappointing but it’s not a Republican problem,” McConnell said in an interview with Bloomberg News when asked about the rising deficits and debt.
Walmart says switching to LED lights in its parking lots cut its annual energy costs by $200 million. A change in the floor wax it uses cut costs by $20 million a year because the floors need to be buffed less often. It's exactly what Walmart WMT is doing.
Smithfield Foods, Inc. said in a statement Tuesday that it disposed of more than 50,000 pounds of product after reports of an employee urinating at his station at the company’s processing facility in Virginia.
Nokia (NOK) is expected to announce its third-quarter earnings on October 25. Analysts expect revenue of $6.4 billion compared to $6.46 billion in Q3 2017, indicating a year-over-year decline of 1%. Revenues for Ericsson (ERIC) and Juniper Networks (JNPR) are expected to fall 4.2% and 6.5%, respectively, in their current quarters.
Beth Comstock is the former vice chair of General Electric. Comstock would hand out "permission slips" authorizing employees to take risks — but she also said it's important for people to stop hiding behind their excuses. Beth Comstock doesn't tolerate excuses.
Berkshire Hathaway Inc.'s ( BRK.B) Class B shares are cheap if you apply the same metrics that its CEO Warren Buffett does to value companies, according to JPMorgan. In a research note, reported on by CNBC, analyst Sarah DeWitt said Berkshire, a company that investors have historically struggled to value properly because of its many moving parts, suddenly appears to be attractively priced when factoring in all the profits made by the stocks held in its $200 billion equity portfolio into its earnings. “Look-through earnings” take into account current period earnings that show up in financial statements, together with other sources of earnings expected in the long run. This method is used by Buffett as a way to appreciate that companies sometimes retain earnings after paying dividends and later invest them at a higher rate of return.
Shares of American Airlines Group (NASDAQ: AAL) popped 6.4% in early trading Wednesday before retracting to close the day up less than 1% -- just 0.9%, to be precise. An upgrade assigned to the stock by Deutsche Bank appears to be the primary reason for the move. A Deutsche Bank analyst upgraded American Airlines stock from "hold" to "buy" on Wednesday, as we're told by our friends at StreetInsider.com.
President Trump says he expects Stormy Daniels and her lawyer, Michael Avenatti, to abide by a judge’s ruling to pay his legal fees. The full interview will air on "Trish Regan Primetime" at 8 p.m. ET on the FOX Business Network.
The PHLX Semiconductor Index (SOX) is down by 9.2% since a recent intraday high on Aug. 8, and Morgan Stanley sees more trouble ahead, per a report in Barron's. Back in 2015, chip stocks endured a decline of 30% from peak to trough, and the fundamentals
The stock market has been volatile in October. Intel (INTC) and Nvidia (NVDA) stocks fell below their 200-day moving averages in the latest stock market sell-off, which was triggered by the Fed’s interest rate hike. On October 11, Intel’s traded volume was 43 million, which is well above its three-month average daily volume of 24.75 million.
Ford (F) closed the most recent trading day at $8.76, moving -0.45% from the previous trading session. This change lagged the S&P 500's daily loss of 0.03%. At the same time, the Dow lost 0.36%, and the tech-heavy Nasdaq lost 0.04%.Heading into today,
Pfizer is offering U.S. employees early retirement ahead of company cuts that will hit around 2% of its 90,000 workers worldwide, CNBC reports. In an internal message to employees Tuesday, the company said the layoffs are a part of restructuring that aims to “simplify the organization to avoid duplication, create single points of accountability and reduce the number of layers within teams,” the New York Business Journal reports. “As we prepare for growth we are creating a simpler more efficient structure which will affect some managerial roles and responsibilities,” a Pfizer spokeswoman told CBNC.
After two consecutive off-the-mark quarters, falling short of its own forecasts for subscriber growth, Netflix Inc. hopes to put an end to the big swings in its stock price with some changes to its accounting. In kicking off tech’s earnings season Tuesday, Netflix (NFLX)reported better-than-expected subscriber growth in the quarter, leading to an 11% jump in its shares in after-hours trading. Three months ago, Netflix reported weaker-than-expected subscriber growth, sending its stock tumbling about 12% in the next trading day.
Bank of New York Mellon (NYSE: BK) releases its next round of earnings this Thursday. Get the latest predictions in Benzinga's essential guide to the company's Q3 earnings report. Earnings and Revenue Bank of New York Mellon EPS is expected to be around
Billionaire investor and philanthropist Ken Langone, the founder of The Home Depot (HD) and chairman of Invemed Associates, argued that there’s some “big time” structural problems in the market right now. Because if we are on a trajectory of raising rates that means, and if it keeps going that way and I don’t know how high it will go, and it keeps going that way then all the sudden the guy who bought those bonds is going to be looking at a fairly decent loss,” Langone said.
The market expects Teradyne (TER) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2018. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 23.
Mark Zuckerberg came under fresh pressure after four US officials called for a boardroom shakeup at Facebook. Three state treasurers and a top official from New York have joined a shareholders’ motion to install an independent chairman at Facebook, claiming the move would improve governance and accountability. In June, Boston-based Trillium Asset Management, which holds $11m in Facebook shares, launched an effort to split the role of chairman and chief executive at Facebook following scandals over the hacking of personal data from millions of users and claims of hate speech and election-rigging.
General Electric's new CEO told France's finance minister on Wednesday that it would stick to his predecessor's French job pledges or pay a penalty, the Finance Ministry said. Former CEO John Flannery warned French Finance Minister Bruno Le Maire in June that the target was "out of reach", and the government raised the possibility of fines worth 50,000 euros ($57,570) for each job not created. GE's new CEO Larry Culp, who took up his post at the start of the month, told Le Maire in a meeting on Wednesday that France remained a strategic country for the company, the ministry said in statement.