Month: April 2020

Activist firm Hestia Capital is urging shareholders to vote for change and elect its two nominees to the board of directors when GameStop (GME) holds its annual shareholder meeting in mid-June. The stock is currently trading up 6% in pre-market trading on Monday.The firm, which owns approximately 7.2% of GameStop shares, also sent shareholders a letter setting out why it believes GameStop’s recent board refreshment is insufficient.According to Hestia, too many GME directors come from traditional retail backgrounds and “the Board must add stockholder-aligned directors that have the financial acumen, turnaround experience and stockholder perspective to drive real change at …read more […]

(Bloomberg) — Berkshire Hathaway Inc.’s annual meeting, which normally draws thousands to Omaha, Nebraska, will be a slimmed-down affair this year.Warren Buffett, chairman and chief executive officer of the conglomerate, and Greg Abel, vice chairman of non-insurance operations, will be the only directors physically present at the meeting, Berkshire said in a statement Monday. That means Charlie Munger, Buffett’s longtime business partner, and Ajit Jain, who’s vice chairman of insurance operations and considered one of Buffett’s potential successors, alongside Abel, won’t attend.As the coronavirus pandemic began to spur public-gathering restrictions and business shutdowns across the U.S., Buffett said in mid-March …read more […]

When it comes to the current economic landscape, you can either look at the glass half empty or half full. Driven by positive developments in the re-opening of the global economy, U.S. stock futures pointed to opening gains on Monday, but this follows the market’s first week-to-date decline in three weeks thanks to a historic drop in oil prices.This same philosophy applies to the narrowing of market breadth, or how many stocks are participating in a given move in an index. According to Goldman Sachs US equity strategist David Kostin, the S&P 500 is 17% below its February record, but …read more […]

Warren Buffett, Chairman and CEO of Berkshire Hathaway, sat down with Yahoo Finance Editor-In-Chief Andy Serwer to discuss wealth disparity and the state of capitalism in America. …read more […]

Shares of GM were 1.4% lower at $21.65 before the bell. “We continue to enhance our liquidity to help navigate the uncertainties in the global market created by this pandemic,” said GM Chief Financial Officer Dhivya Suryadevara. GM, which has been forced to shut some production in North America along with other car makers, had earlier said it has postponed work on at least half a dozen future models to conserve cash during the pandemic. …read more […]