Summary: Berkshire Hathaway held its annual shareholders meeting, the first without Charlie Munger, where Warren Buffett discussed various topics including investment decisions, artificial intelligence, and the company's cash holdings. The company's primary investments will continue to be in the United States.
Full articleSummary: Wells Fargo agrees to pay $23.7 million to settle deceptive marketing allegations over risky 'pick-a-payment' home loans and will modify consumers' mortgages.
Full articleSummary: Berkshire Hathaway repositions its portfolio, selling a portion of its Apple stake while increasing cash reserves, particularly due to valuation concerns, market conditions, and potential tax rate changes. The company also displayed a cautious sentiment during the annual meeting, prioritizing risk aversion and cash hoarding, hinting at a defensive investment strategy.
Full articleSummary: ConocoPhillips (NYSE:COP) is about to trade ex-dividend in the next four days, with an upcoming dividend of US$0.51 a share. The company has a trailing yield of 5.4% based on the last 12 months of payments. ConocoPhillips has been growing its earnings per share and dividends at a steady rate over the past few years.
Full articleSummary: The article reviews Bank of America Corporation's preferred stocks, highlighting the fixed-rate securities with slight differences in call protection and coupons. The analysis suggests that Bank of America has a strong financial standing, unlikely to default on dividend payments based on its historical performance during financial crises. The preferred stocks are compared based on yields, call protection, non-cumulative features, and price, with a recommendation to possibly hold or consider the Series SS over others.
Full articleSummary: Apple is set to launch the new iPad Pro OLED 2024 on May 7, with anticipated major upgrades in design, display technology, battery life, and AI features. The tablet is expected to offer significant improvements and innovation compared to the previous models.
Full articleSummary: CEO of dozens of companies sentenced to 78 months in prison for trafficking in fraudulent and counterfeit Cisco networking equipment worth hundreds of millions, jeopardizing private-sector, public-sector, and U.S. military applications.
Full articleSummary: Cloudflare, Inc. (NYSE:NET) stock dropped 15% to US$74.40 in the week following its latest first-quarter results, with revenues of US$379m and losses per share of US$0.10. Analysts forecast revenues of US$1.65b in 2024, reflecting a 19% improvement from the last 12 months, but losses are expected to increase to US$0.43 per share. The consensus price target remains at US$97.51, indicating that the business is performing in line with expectations despite the higher forecasted losses.
Full articleSummary: Emerson Electric Co. (EMR) is benefiting from strong demand in process and hybrid markets, leading to increased sales and improved guidance for fiscal 2023. Acquisitions of Afag and Flexim are expected to further expand EMR's capabilities. Shareholders are being rewarded through dividend payments. Zacks Rank suggests holding onto EMR stock. Positive sentiments also observed for Caterpillar Inc. (CAT), A. O. Smith Corp. (AOS), and Alamo Group Inc. (ALG) in the Industrial Products sector.
Full articleSummary: FedEx (FDX) stock closed lower in the most recent trading session but is expected to display strength near its next earnings release. Analysts are optimistic about the company's business and profitability, reflecting in positive estimate revisions and a Zacks Rank of #1 (Strong Buy). Additionally, FDX currently has a lower Forward P/E ratio and a slightly lower PEG ratio compared to the industry average.
Full articleSummary: Texas Rangers beat Kansas City Royals 15-4 with a season-high 17 hits and set a season-high in runs, Nathaniel Lowe had four hits and two RBIs, Adolis García, Evan Carter, and Travis Jankowski also drove in two runs each, Dane Dunning pitched 4 2/3 innings giving up two runs and four hits
Full articleSummary: Starbucks has introduced new and complex drinks causing confusion among customers, indicating a shift towards sweeter options appealing to younger demographics. The rise in popularity of such drinks has coincided with the Starbucks app's usage boom during the pandemic, making customization easier for customers.
Full articleSummary: Tesla successfully petitioned to release nearly 2,100 acres of land, including its Gigafactory, from Austin's extraterritorial jurisdiction, allowing the company to bypass environmental regulations. The move has sparked mixed reactions from the community.
Full articleSummary: Charles Schwab has reduced expenses on its proprietary ETFs, such as Schwab U.S. Dividend Equity, to compete with Vanguard. Both ETFs offer above-market dividend income. Schwab has a slight performance lead over Vanguard in the past year, but Vanguard has been less volatile.
Full articleSummary: River Global Investors LLP increased its position in shares of International Business Machines Co. (NYSE:IBM) by 92.1% in the 4th quarter, according to the recent filing with the Securities and Exchange Commission. Various institutional investors have also been increasing their holdings in IBM during the last quarter.
Full articleSummary: Nike has officially ended its relationship with Brooklyn Nets guard Kyrie Irving due to fallout from posting a link to a film containing antisemitic material. Irving had been a Nike athlete since 2011 and had a signature shoe line with the company.
Full articleSummary: General Electric Co's investors are concerned about the loss-making renewable energy business and supply-chain challenges at its aerospace unit, despite a significant reduction in debt and a successful spin-off of its healthcare business. The renewable energy unit has failed to turn a profit in the past eight quarters, while the aerospace business is facing shortages of labor, parts, and raw materials.
Full articleSummary: Analyst recommendations play a significant role in influencing stock prices but may not always align with investors' interests. Brokerage recommendations for Raytheon Technologies (RTX) suggest a buying sentiment with an ABR of 1.69, leaning towards a Strong Buy. However, using these recommendations solely for investment decisions might not be ideal.
Full articleSummary: Warren Buffett's Berkshire Hathaway reduced its stake in Apple by 13% to $135.4 billion, while still holding about 790 million shares, making Apple its largest holding.
Full articleSummary: ICU Medical Inc, in collaboration with private equity firm Linden Capital Partners, is competing against GE Healthcare Technologies Inc and other private equity firms in bidding for two medical technology businesses being sold by Medtronic Plc for $8-9 billion. Medtronic is considering spinning off the assets if acquisition offers do not meet its valuation expectations.
Full articleSummary: Tesla re-released Model Y Long Range with 320-mile EPA range at $46,630, including fees. CEO Elon Musk mentioned unlocking more range for base Model Y for additional cost pending approvals.
Full articleSummary: Natural gas markets have seen a sharp spike due to Europe considering cutting more Russian gas, potentially leading to EU sanctions on Russian gas projects. Companies like TotalEnergies and Kinder Morgan are optimistic about the growth in U.S. LNG production, particularly from the Eagle Ford shale gas play.
Full articleSummary: Tesla is no longer offering mobile service in Newfoundland, instead sending a mobile ranger once every two months to conduct repairs under warranty at a third-party garage. Out of warranty owners will have to travel to Halifax, Nova Scotia for service, potentially incurring high expenses.
Full articleSummary: Warren Buffett's investment firm, Berkshire Hathaway, has sold about 13% of its stake in Apple during the January-March quarter, which accounts for about 40% of Berkshire's equity portfolio. This is the second quarter in a row that Berkshire Hathaway has reduced its holdings in Apple, possibly indicating a change in Buffett's views on the tech giant.
Full articleSummary: Broadcom Inc forecasts second-quarter revenue above estimates due to increased investments in artificial intelligence, expects exponential rise in demand for networking solutions from hyperscale customers looking to deploy AI, announces a quarterly dividend of $4.60 per share.
Full articleSummary: Texas Rangers had a dominant 15-4 victory over the Kansas City Royals. Nathaniel Lowe had a standout performance with four hits and two RBIs. The Rangers totaled a season-high 17 hits and set a season-high in runs in the game.
Full articleSummary: IBM closed at $121.35, making a -0.95% move from the prior day. The company is expected to report a decrease in EPS and revenue for the next quarter. IBM has a Zacks Rank of #3 (Hold) and is trading at a discount to its industry based on Forward P/E ratio.
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