Warren Buffett’s Berkshire Hathaway Inc said it has bought another 9.9 million shares of Occidental Petroleum Corp, giving it a 17.4 percent stake in the oil company. Berkshire paid about $582 million for the shares, which it bought between Wednesday and Friday, according to a Friday night filing with the U.S. Securities and Exchange Commission….
Berkshire Hathaway Buys 9.9 Million More Occidental Shares, Has 17.4 Percent Stake
US Stocks Open Higher a Day After Falling Into Bear Market
NEW YORK—Stocks are edging higher in early trading on Wall Street Tuesday, finding some stability a day after dropping into a bear market. A report showed that inflation at the wholesale level slowed unexpectedly last month, a rare bit of encouraging news about inflation, which has been slamming markets in recent days. The S&P 500…
World Shares Wobbly After Wall Street Sinks Into Bear Market
TOKYO—Global stocks drifted lower Tuesday in the wake of Wall Street’s tumble into a bear market, as investors anxiously contemplated a new and uncertain world of higher interest rates, international conflict, and recession fears. Shares traded down in Europe, erasing brief gains after the markets opened, while Asian shares fell but later recovered some gains….
Sharp Drop in Retailers Helps Pull Wall Street Indexes Lower
NEW YORK—Stocks fell in morning trading on Wall Street Wednesday, led by led by steep drops in retailers as Target plunged after issuing a grim quarterly earnings report. The S&P 500 fell 1.6 percent as of 10:23 a.m. Eastern. The Dow Jones Industrial Average fell 456 points, or 1.4 percent, to 32,197 and the Nasdaq…
Beyond Meat Shares Tumble on Disappointing Q1 Results, Barclays Downgrades Price Target
Barclays on Thursday cut the price target for shares of plant-based meat company Beyond Meat by nearly 70 percent following the company’s disappointing sales revenues in the first quarter. Barclays analyst Benjamin Theurer downgraded shares to equal weight from overweight, with a $25.00 per share price target, down from $80.00. “Given limited short-term visibility, mounting cost pressure,…
Novavax’s 22 Percent Post-Earnings Plunge: 5 Factors That Took Toll
May 11, 2022
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Novavax, Inc. shares slumped 22.27 percent after-hours on Monday, reacting to its quarterly financial report. What would have been a trophy quarter to flaunt, given COVID-19 revenue only just began to trickle in, turned out to be a big disappointment. Here’re five reasons why the COVID-19 vaccine maker’s report triggered a negative reaction: 1. Vaccine…
RealNetworks Founder/CEO Robert Glaser Seeks to Buy up All Outstanding Shares
RealNetworks Inc., a Seattle-based provider of artificial intelligence-based software and solutions, announced it received an unsolicited, non-binding proposal from Robert Glaser, the company’s founder, chairman and CEO, to acquire all of the outstanding shares of common stock not currently owned by Glaser and his affiliates at a purchase price of 67 cents per share in cash….
Nissan Shares Slide 5 Percent After Report Renault Exploring Stake Reduction
TOKYO—Shares of Nissan Motor Co. Ltd. slumped 5 percent on Monday, their biggest fall in more than a month, following a report that top shareholder Renault SA may consider lowering its stake in the Japanese automaker. Bloomberg reported on Friday that Renault may consider lowering its Nissan shareholding as part of plans to separate its…
Verizon Shares Drop After Q1 Earnings, Weaker Than Expected Outlook
Verizon Communications Inc. reported a first-quarter FY22 sales growth of 2.1 percent year-on-year, to $33.6 billion, beating the consensus of $33.5 billion. Adjusted EPS of $1.35 was in-line with the consensus. Total wireless service revenue was $18.3 billion, up 9.5 percent Y/Y, reflecting the first full quarter of TracFone ownership. Service and other revenue were down 2.5…
Deutsche Telekom Buys Additional T-Mobile US Shares for $2.4 Billion
April 14, 2022
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DUESSELDORF, Germany—Deutsche Telekom said it has bought additional shares in T-Mobile US from Softbank for $2.4 billion, bringing CEO Tim Hoettges closer to his goal of securing direct control over the U.S. telecoms operator. The purchase of the 21.2 million shares via a call option raises Deutsche Telekom’s stake in T-Mobile US to 48.4 percent,…
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