Boeing Co on Wednesday swung to its first annual loss since 1997 on mounting 737 MAX costs and indicated it would again cut production of its bigger 787 Dreamliner aircraft, currently its main source of cash.
Wall Street analysts were smitten by a rebound in sales of Apple Inc’s iPhones after a year of decline. So much, in fact, that they looked past a weaker-than-expected rise in services revenue, the company’s growth driver.
(Bloomberg) — Warren Buffett is getting out of the newspaper business.Berkshire Hathaway Inc. agreed to sell its BH Media unit and its 30 daily newspapers to Lee Enterprises Inc., which owns papers including the St. Louis Post-Dispatch, for $140 million in cash. Lee has been managing the papers for Buffett’s company since 2018, and Berkshire is loaning Lee the money for the purchase.Buffett, who got a job delivering papers as a teenager and invested in the industry to capitalize on its one-time local advertising stronghold, lamented last year that most newspapers are “toast.” BH Media, which owns papers across the …read more […]
It might seem bad, but the worst that can happen when you buy a stock (without leverage) is that its share price goes… …read more […]
Goldman Sachs Group Inc on Wednesday set aggressive targets to grow many of its businesses, as the Wall Street powerhouse tries to make meaningful inroads in areas dominated by larger rivals JPMorgan Chase and Bank of America
The U.S. Federal Reserve is expected to keep interest rates unchanged when it wraps up its first policy meeting of the year on Wednesday.
At least 15 brokerages raised their price targets on the company’s stock on Wednesday, with D.A. Davidson setting the most bullish price target of $385, well above the stock’s current median price target of $325. “We see Apple’s December 2019 quarter as a microcosm for its calendar 2020 performance, with the iPhone, once again, returning to the front and center,” D.A. Davidson analyst Tom Forte said. Forte attributed part of the iPhone bounce to Apple’s new credit initiatives, which enable consumers to purchase a phone and pay for it in monthly installments without paying interest. …read more […]
(Bloomberg) — Les Wexner, the longest serving chief executive officer on the S&P 500 Index, is in talks to break up Victoria’s Secret owner L Brands Inc. and potentially step down from his role leading the company, according to a person familiar with the matter.Shares of L Brands surged as much as 15%, the most in eight months, in New York trading Wednesday. The Wall Street Journal reported earlier that founder Wexner may step down as CEO and sell Victoria’s Secret. Wexner may stay on as chairman, the Journal reported.The stock has posted four consecutive annual declines in value, including …read more […]
Wall Street opened higher on Wednesday as a surge in shares of Apple, Boeing and General Electric after their results overshadowed concerns over the economic impact of a fast-spreading coronavirus.
Warren Buffett’s Berkshire Hathaway Inc said on Wednesday it is selling its newspaper operations to Lee Enterprises Inc , abandoning an industry the billionaire investor had long supported and defended even as its financial prospects deteriorated.
Boeing Co on Wednesday swung to its first annual loss since 1997 on mounting 737 MAX costs and indicated it would again cut production of its bigger 787 Dreamliner aircraft, currently its main source of cash.
The BBC said on Wednesday it will cut around 450 jobs from its news division as part of an 80 million pound savings drive and modernisation programme.
Wall Street was set to extend its recovery on Wednesday as a surge in shares of Apple and Boeing after their results overshadowed concerns over the economic impact of a fast-spreading coronavirus.
Large options trades some people have attributed to the mysterious investor known as “50 Cent” have become more profitable in recent days, as fears of the economic impact of the coronavirus injected volatility back into stock markets.
Boeing Co expects nearly $19 billion in costs related to the grounding of its 737 MAX jets, the U.S. planemaker said on Wednesday as it swung to its first annual loss since 1997 and indicated it would again cut production of its bigger 787 Dreamliner aircraft.
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