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Follow this list to discover and track stocks held by Berkshire Hathaway, the holding company of Warren Buffett.
The Procter & Gamble Company
The Coca-Cola Company
Wells Fargo & Company
United Parcel Service, Inc.
Mondelez International, Inc.
The Goldman Sachs Group, Inc.
General Motors Company
Sirius XM Holdings Inc.
Southwest Airlines Co.
Restaurant Brands International Inc.
Delta Air Lines, Inc.
M&T Bank Corporation
Occidental Petroleum Corporation
Globe Life Inc.
Axalta Coating Systems Ltd.
American Airlines Group Inc.
Three Buffett stocks, in particular, are trouncing Berkshire in 2020. While the COVID-19 pandemic has hurt many companies, Amazon's business has thrived. The impact of the global novel coronavirus outbreak has turned Amazon's business upside down -- mostly in a good way.
(Bloomberg) -- Amazon.com Inc. is scaling back deliveries and adjusting routes in a small number of cities including Chicago, Los Angeles and Portland after the death of George Floyd in Minneapolis sparked demonstrations around the country, prompting curfew orders.“We are monitoring the situation closely and in a handful of cities we adjusted routes or scaled back typical operations to ensure the safety of our teams,” an Amazon spokeswoman told Bloomberg News.Amazon’s action shows how protests around the country are complicating operations for the e-commerce giant, which was still catching up from a surge in demand tied to the Covid-19 outbreak.In Chicago and Los Angeles, Amazon delivery drivers received messages Saturday night that said: “If you are currently out delivering packages, stop immediately and return home. If you have not completed your route, please return undelivered packages to the pick-up location whenever you’re able to do so.”Amazon was “in close contact with local officials and will continue to monitor the protests,” and would only re-open delivery stations when it’s safe and will plan delivery routes by monitoring demonstrations in every zip code, according to messages reviewed by Bloomberg.(Updated with additional cities in 1st paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Amazon said a “bad actor” was to blame after listings containing racial slurs appeared on its store within searches for Apple’s AirPod earphones and similar products. Shoppers using Amazon’s UK-facing site and app discovered listings had replaced the product image with an abusive message that contained several instances of the N-word. Many of the listings appeared on the highly coveted and trafficked first page of results for “airpods” or “bluetooth headphones”.
Online sales have exploded during the coronavirus pandemic, as consumers try to stay home more. Online sales at Walmart, Target, and Best Buy in the first quarter increased by 74%, 141%, and 155%, respectively. Meanwhile, the 800-pound gorilla that is Amazon (NASDAQ: AMZN) continued its steady march, growing global online sales by 24% (Amazon's fiscal quarter ends a month before the other retailers mentioned).
HBO Max made its official entrance into the streaming wars on Wednesday — and its day-one performance highlights how consumers are embracing the new platform.
Visa (V) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
American Airlines (AAL) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
(Bloomberg) -- Occidental Petroleum Corp. cut its quarterly dividend by 91% to the lowest since at least the 1970s amid the pandemic-driven collapse in energy demand that has strained the oil explorer’s ability to shoulder its debt.Occidental shareholders will receive a penny per share on July 15, the Houston-based company said in a statement Friday. The move extends a cut announced in March when it trimmed the payout to 11 cents from 79 cents.The surprise cut came the same day under-fire Chief Executive Vicki Hollub and the rest of the board of directors won re-election at Occidental’s annual shareholders’ meeting. The company will announce the final vote tallies in a regulatory filing later.Hollub has weathered extreme pressure from shareholders ever since outbidding Chevron Corp. to win the purchase of Anadarko Petroleum Corp. last year. The deal saddled Occidental with some $40 billion of debt that was looking hard to pay off even before Covid-19 wiped out global oil demand, sending crude prices plunging to an unprecedented minus $40 a barrel at one point last month.The benchmark U.S. oil price rebounded 88% in May to close the month above $35 a barrel, but it’s still 44% down from its high point in January and below a level that would ensure healthy cash flow for most producers.The dividend reduction will save Occidental about $360 million a year, but it’s a drop in the ocean compared to the wall of debt due over the coming years. The company probably kept a token payout to avoid mandatory selling of the stock by dividend funds and to signal that it aims to restock the stipend at some point in the future, according to Leo Mariani, an analyst at KeyBanc Capital Markets.“They need that extra money at $35 a barrel oil, so it’s the right move,” Mariani said by phone. “They’ve got to do whatever they can to survive.”What Bloomberg Intelligence SaysAlready reeling from elevated debt, a weak fundamental backdrop and investors disgruntled by the Anadarko deal, Occidental doesn’t have many near-term positives we can speak to.\-- Vincent G. Piazza and Evan Lee, analystsRead the full report here.The company’s primary focus is on “maximizing liquidity and reducing debt,” Hollub said at the annual meeting, held virtually on Friday. The company has gone from being a steady, diversified oil producer to a debt-laden, shale-focused driller that now has a market value of just $11.7 billion, less than a third of the price it paid for Anadarko. Its credit rating was downgraded to junk in March.The stock dropped 5.1% to $12.95 in New York on a day when West Texas Intermediate oil futures jumped more than 5%.Hollub fended off a shareholder revolt by making peace with the company’s second-largest shareholder, billionaire Carl Icahn, ending a nine-month public battle that included personal barbs against the CEO. However, it came at a cost. Hollub and her fellow directors agreed to cede some control by putting nominees of the activist investor on the board.(Updates with analyst’s comment from sixth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Wells Fargo & Company (NYSE: WFC) today announced the appointment of two new Corporate Risk leaders and an enhanced organizational structure designed to provide greater oversight of all risk-taking activities and a more comprehensive view of risk across the company. The new risk model will have five line-of-business Chief Risk Officers (CROs) along with other teams aligned by risk type, each reporting to Wells Fargo CRO Mandy Norton.
General Motors (NYSE: GM) will boost production at several U.S. factories and reopen others, starting Monday, as it continues to restore production that was idled in March due to the outbreak of the novel coronavirus. GM said that it will resume round-the-clock production at three U.S. factories that build its highly profitable pickup trucks. Dealer supplies of pickup trucks have grown tight, as pickup sales remained relatively strong while factories were closed in April and early May.
(Bloomberg Opinion) -- One constant in Facebook's corporate culture is the ruthless aggression when it comes to growth and competition. To take just one example: More than a decade ago, a young, upstart Facebook smashed a wage-fixing cartel that than had been imposed by older, more established tech companies and it tried to hire the best tech talent. With Facebook now among the most dominant employers in the San Francisco Bay Area labor market, the company is using its lessons from the past few months of work from home to hire remotely all across the country in the midst of the coronavirus pandemic. In doing so, it's telling both its own employees and tech employers across the country that competition is coming. What remains to be seen is what effect this will have on wages both in and beyond the San Francisco area, where terms are ultimately set when it comes to the compensation of tech employees.The headlines in Facebook's announcement about working from home were twofold: First, that during the next five to 10 years, as many as half of Facebook's employees could be remote; and second, that the pay of remote workers will be tied to where they work. In other words, if you're moving from Palo Alto, California, to Boise, Idaho, expect a pay cut.Although controlling employee compensation costs is surely part of the thinking, current and would-be Facebook employees should recall that today's high compensation for Silicon Valley software engineers is partly because of Facebook's rule-breaking moves in the past. Until Facebook Chief Operating Officer Sheryl Sandberg left Google for Facebook, large technology companies such including Google, Apple, Intel and Intuit had what constituted a hiring cartel to prevent employee poaching, part of an effort to retain scare talent and hold down wages. Facebook, perhaps as an early indication of the disruptive nature of the next generation of technology companies, decided it would prioritize its own growth and talent acquisition. That undermined the cartel and led to rapid growth in both employee pay and home prices in the San Francisco Bay Area during the past decade.Facebook's decision on remote work is an extension of that mindset, one that doesn't abide by any niceties when it comes to attracting and retaining elite technology workers. Although the Facebook decision might be seen as little different from similar work-from-home announcements made by other Silicon Valley companies like Twitter and Square, it serves as a watershed moment in the same spirit as Amazon's public search for a second headquarters. Both decisions reflect the high cost and limited availability of technology talent on the West Coast, and that the need to hire outside the region persists, with different companies experimenting with different models on how best to do that.What's unclear is how this will shake out for workers. Although current and prospective Facebook employees are understandably concerned about the company saying that compensation will be tied to location, as long as technology talent remains much sought after, compensation should stay high. Housing costs outside of the West Coast may still be a fraction of what they are in San Francisco or Palo Alto, but technology talent is scarce and mobile throughout the country. It's unlikely that an employee that Facebook would pay $300,000 in San Francisco will be available for $100,000 in Salt Lake City, and if they are, that gap is unlikely to last for long as the word gets out and as other San Francisco Bay Area-based technology companies mimic Facebook's approach.Facebook's latest decision may well have a comparable impact to its decision not to join the hiring cartel, lifting pay everywhere outside the San Francisco area. Many tech employers in Tulsa, Oklahoma, or Kansas City know their best employees could always get recruited by West Coast tech companies if those workers were willing to relocate. But there are frictions involved in relocating, and maybe companies have been willing to bet that those workers aren't willing to move because of family and community ties. But if all of a sudden it's well-known that companies such as Facebook and Google are willing to hire anywhere without demanding relocation, then other companies will be forced to raise pay or risk losing talent -- the same quandary once faced by cartel members such as Intel and Intuit.Ultimately, the question is does being based in the San Francisco Bay Area function as a moat for technology employees, guarding their lofty pay, but one that is ready to be breached ? Or is high pay a function of high productivity, demand and industry growth? If it's the latter, tech workers shouldn't worry about Facebook's work-from-home decision. But it might well be the former.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Conor Sen is a Bloomberg Opinion columnist. He is a portfolio manager for New River Investments in Atlanta and has been a contributor to the Atlantic and Business Insider.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Shares of data analytics firm Datadog (NASDAQ: DDOG) have surged nearly 150% since their IPO last autumn. As a leader in cloud-based software for managing big data and cloud operations, Datadog has a bright future, although much of that future has been priced into its shares at this point. According to tech researcher Gartner, spending on IT operations management is expected to reach $37 billion by 2023.
Investors are always ready to buy into a good value, and in today’s markets – with their combination of bear cycle and bull rally – those value stocks are clearer than ever. Using TipRanks’ database, which features extensive market data collated in real time, we’ve pulled up the details on three great stock market values. All three of these stocks offer investors a solid package: a one-year upside potential of at least 10%, a dividend over 2%, and a history of long-term share appreciation. While all three are down in the current market cycle, Wall Street’s analyst corps sees each of them as a Strong Buy. Even the economic shutdowns, which forced so many companies into losses for Q1, couldn’t derail these three – each showed profits in the quarter, and beat the earnings forecasts. Let’s dive into the details, and find out what makes these three stocks so valuable. Procter & Gamble Company (PG) We’ll start with one of the blue-chip staples of the Dow Jones average. Procter & Gamble showed steady earnings growth through 2019, beating estimates in every quarter, before recording a sharp drop in Q1. That drop, however, needs to be put into context – the company’s calendar first quarter is historically its lowest of the year. Not to mention Q1 2020 reflected both a fifth consecutive earnings beat and a modest year-over-year gain of 4.4%, despite the economic shutdowns. In an odd way, the coronavirus crisis may have even helped PG – the company’s strong presence in the home & consumer health, personal care, and hygiene niches meant that demand for PG products remained strong, even as overall consumer activity declined. In the company’s Q1 earnings release (PG’s fiscal Q3), the company reported 4.2% year-over-year revenue growth. In addition to its solid position in the current environment, Procter & Gamble is also one of the market’s true dividend champs. The company has a 16-year history of steady dividend growth and reliable payments. The current payment is 79 cents, the company raised it by 4 cents in Q1, annualizing to $3.16 per quarter and giving a yield of 2.7%. While that is only slightly higher than the consumer goods sector average of 2.5%, Procter’s dividend is backed by that long history – and it has a payout ratio of 64%, indicating that the payment is easily sustainable with current income levels. Covering PG stock for Evercore ISI, Robert Ottenstein headlines his note “Better, More Resilient, Wiser.” As for forward prospects, Ottenstein writes, “We see Procter as a reliable 6-8% EPS grower, as underscored by the firm’s confidence to raise the dividend by 6% in the face of unprecedented challenges…” Ottenstein keeps his Buy rating on PG shares, and raises his price target from $130 to $140. This implies 21% upside potential for the stock in the coming 12 months. (To watch Ottenstein’s track record, click here) Overall, PG’s Strong Buy analyst consensus rating is based on 10 reviews, which include 9 Buys against a single Hold. Wall Street is slightly less aggressive here than Ottenstein, but the $133 average price target still suggests an upside potential of 15%. (See Procter & Gamble stock analysis on TipRanks) Linde PLC (LIN) Next up is Linde, an important player in the industrial gas industry. This is not a consumer utility; rather, Linde dominates the market for pure gasses such as oxygen, nitrogen, hydrogen, and argon, along with compound gasses such as carbon monoxide. All have important uses in industry, especially within the medical and HVAC sectors – which have been deemed essential even during the public health crisis. Like PG above, Linde has a secure niche and product line-up despite the recessionary pressures. The quality of Linde’s market position is demonstrated by the quarterly performance. Where most companies registered declines or even losses, Linde reported Q1 EPS level with Q4. At $1.89, the quarterly earnings beat the forecast by 3.2%, and was the fifth quarter in a row to top the estimates. In another similarity to PG, Linde’s continued profitability is directly related to its strong presence in the healthcare industry. Some 20% of company revenues come from sales in the medical field (oxygen, for example, is a vital item in treating respiratory ailments), and Linde has been able to successfully absorb losses in other segments. With revenues secure, Linde was not shy about declaring its dividend going forward. The company announced that it will pay out 96 cents per share in Q2. That annualizes to $3.85, and gives a yield almost exactly at the S&P average: 2%. Michael Sison, 5-star analyst with Well Fargo, makes the simple case for LIN shares, “[We] believe this stable cash flow business and strong balance sheet make LIN an attractive story in the current uncertain environment. We also view LIN as a growth story, with the $9.5B project backlog as the pipeline for future earnings growth. Finally, we continue to expect the company to deliver on additional merger cost and revenue synergies once the recovery starts to take shape, likely before 2021.” To this end, Sison puts a $235 price target on the stock, showing his confidence in a 16% one-year upside potential. With this positive outlook, Sison rates the stock a Buy. (To watch Sison’s track record, click here) LIN is another stock with a Strong Buy analyst consensus rating. The shares have 22 reviews on record, breaking down into 17 Buys and 5 Holds. The current trading price is $202.34, and the average price target of $216 implies room for 7% growth this year. (See Linde stock analysis on TipRanks) Raytheon Technologies (RTX) Last on our list is Raytheon, a staple in the aerospace and defense industries, as well as a major contractor for the Pentagon. Raytheon’s better-known products include radars for the Air Force’s front line fighter aircraft and many of the military’s front line air-to-air and air-to-surface guided missiles. No one ever went broke selling weapons, and Raytheon is a good example of that old saw. The company’s $1.78 Q1 EPS was 60% higher than the estimates. Even more impressive, it was the eighth quarter in a row that RTX beat the earnings estimates. The solid EPS was derived from $18.2 billion in revenues, a figure in-line with both the estimates and the year-ago figure. Raytheon management declared a 47.5 cent quarterly dividend, to be paid out in June. In deference to the difficult economic times, and the possibility of reduced defense contracts as budgets contract, this dividend was a sharp decline from the 74 cents paid out in Q4. The important point for investors, however, is that Raytheon remains committed to maintaining its dividend, with the yield at 2.8%, which is above the industrial goods sector average of 2%. In his note on RTX for Credit Suisse, 5-star analyst Robert Spingarn states, “[We] assume that RTX defense can sustain a 2019-2022 sales CAGR of 6%+ (consistent with its record backlog), and that improving trends for defense margins, working capital, and capex can offset pension headwinds, then RTX defense likely stands to generate ~$5.3 billion of FCF in 2022…” This solid outlook contributes to his Buy rating and $81 price target on the stock. At current prices, this target implies a 26% potential upside to RTX. (To watch Spingarn’s track record, click here) With a share price of $64.52, and an average price target of $75.25, RTX boasts a 17% upside potential for the next 12 months. The consensus on the Street here is a Strong Buy, with 11 Buy reviews and 3 Holds. (See Raytheon stock analysis on TipRanks)
American Airlines Group Inc (AAL) said it plans to cut 30% of its management and support staff (MSS) to reduce costs as the debt-strapped U.S. airline grapples with the financial fallout of the coronavirus pandemic.Affected employees will be notified of the layoffs in July, but will remain on payroll through Sept. 3, and will receive full pay and benefits through the U.S. CARES Act Payroll Support Program. The indebted airline is also offering a voluntary early out program for MSS employees but if there are not enough volunteers it will begin layoffs.“We will be a smaller airline, with fewer routes and fewer flights,” Elise Eberwein, Executive VP, wrote in a memo to employees. “Our preferred outcome is to properly size our frontline team for the future without having to implement involuntary furloughs. This is a goal, though, not a commitment, and a stretch goal at that.”Eberwein added that the airline has already taken a number of steps to downsize with nearly 39,000 workers choosing to take a voluntary leave or early retirement. In addition, fleet retirement accelerations are underway, which is expected to result in flying roughly 100 fewer aircraft next summer than was originally planned.American Airlines stock has lost two-third of its value so far this year as stringent travel restrictions tied to the coronavirus pandemic have brought travel demand to an almost halt. U.S. airlines have been burning through billions of dollars in the first quarter incurring huge losses and implementing broad cost-cutting plans, as well as taking steps to shore up cash buffers.The airline’s stock dropped 4.4% to $10.50 on Friday.Earlier this month, five-star analyst Brandon Oglenski at Barclays lowered the stock’s rating to Sell from Hold, with a $7 price target, (reflecting 33% downside potential) saying the future is uncertain on travel demand but definite on "plenty of additional debt."Overall Wall Street analysts are sitting on the fence when it comes to American Airlines stock. The Hold consensus is divided into 4 Hold, 8 Sell and 4 Buy ratings. The $13.36 average price target is less bearish than Barclays’ outlook and implies 27% upside potential in the shares in the coming year. (See American Airlines stock analysis on TipRanks).Related News: Ryanair Cuts Traffic Target By Almost 50% For Coming Year, Seeks To Reduce Boeing Plane Deliveries Boeing Gets No Orders in April, Customers Cancel 737 MAX Jets Colombian Carrier Avianca Files for Bankruptcy Protection Due to Coronavirus Woes More recent articles from Smarter Analyst: * Minerva Shares Tank 72% As Schizophrenia Drug Misses Trial Goals * Beyond Meat Teams Up With KFC, Pizza Hut In China * Zoom Video Is Said To Plan To Offer Better Encryption For Paying Users * Moderna Embarks On Phase 2 Study Of Covid-19 Candidate; Shares Pop 11%
The message sparked outrage on Twitter, with the topic "AirPods" trending in the United Kingdom. "We are removing the images in question and have taken action on the bad actor," an Amazon spokeswoman told Reuters on Sunday. Screenshots and video grabs of the messages were trending on Twitter, with users sharing the images.
Space Exploration Technologies Corp. on Saturday successfully launches the first astronauts into space from U.S. soil in nine years. The capsule carrying NASA astronauts reached orbit on its way to the International Space Station.
Economic impact payments would cover less than half of the average family’s monthly expenses, a new study found.
* Benzinga has examined the prospects for many investor favorite stocks over the past week. * This week's bullish calls included e-commerce and pharmaceutical giants. * The house that Warren Buffett built is featured among the bearish calls.The Dow Jones industrials and the S&P 500 ended last week with 3% or so gains, while the Nasdaq was up nearly 2%. It was a week when China moved to end Hong Kong's autonomy and the U.S. president punished social media players for fact-checking him. Also, Disney and the New York Stock Exchange prepared for reopenings, 737 Max production resumed and Tesla lowered car prices.As usual, Benzinga continues to examine the prospects for many of the stocks most popular with investors. Here are some of this past week's most bullish and bearish posts that are worth another look.BullsThe Amazon.com, Inc. (NASDAQ: AMZN) empire is poised to expand further, according to Elizabeth Balboa's "Here's How Amazon Could Become A Threat To Tesla, Ford And More With Zoox Buy.""Bristol-Myers Analyst Says 'Big 7' Pipeline Assets Hold B In Peak Sales Potential" by Shanthi Rexaline shows the slew of products in the Bristol-Myers Squibb Co (NYSE: BMY) pipeline that have blockbuster potential.In "Analyst Upgrades Oil Services Stocks, Predicts 'Doubling Of US Rig Activity'," Wayne Duggan shares why it finally may be time for investors to start dipping their toes in on the likes of Baker Hughes Co (NYSE: BKR).Priya Nigam's "Snap Could Unveil More Developer Integration At Partner Summit, BofA Says" suggests that anticipated new software tools, platform policies and partners bode well for Snap Inc (NYSE: SNAP) stock.For additional bullish calls, also have a look at 'FAANG Stocks Are Strong Once Again,' Facebook, Amazon, Netflix Hit Record Highs Last Week and Plant-Based Food Sales Up 90% In March: Report.BearsTanzeel Akhtar's "Mouse Trap: Imperial Capital Downgrades Disney, Sees Theme Park Risk" looks at why Walt Disney Co (NYSE: DIS) investors may want to take profits."Why Bill Ackman Is No Longer A Berkshire Shareholder" by Jayson Derrick discusses why the billionaire hedge fund manager and activist investor has shed his $1 billion stake in Berkshire Hathaway Inc. (NYSE: BRK-A).Netflix Inc (NASDAQ: NFLX) shares recently have given back some of their year-to-date gains. So says "What's Behind Netflix's Recent Weakness?" by Shanthi Rexaline. Is the stock in the danger of a further pullback?In Randy Elias's "What 2 Experts Are Saying About Canopy Growth After The Q4 Print," see four downside risks for Canopy Growth Corporation (NYSE: CGC) stock.Be sure to check out Cramer Says Getting Over Coronavirus Crisis 'Not Enough' To Lift The Economy and NYSE To Delist Bankrupt Hertz: Report for additional bearish calls.Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter.See more from Benzinga * Barron's Picks And Pans: Dropbox, Slack, Starbucks And More * Barron's Picks And Pans: Cisco, Gilead, Netflix, Wayfair And More * Benzinga's Bulls And Bears Of The Week: Boeing, SmileDirectClub, Tesla And More(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Secretary of State Mike Pompeo declared Hong Kong to be no longer autonomous from China Wednesday, a move that further increases U.S.-China tensions and could pave the way for changes to U.S. policy toward Hong Kong that could have massive ramifications for the Hong Kong, Chinese and American economies.
Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds' and successful investors' positions as of the end of the first quarter. You can find articles about an individual hedge fund's trades on numerous financial […]
In this article we will take a look at whether hedge funds think Restaurant Brands International Inc (NYSE:QSR) is a good investment right now. We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, unconventional data sources, expert networks, and get […]