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News on Medial
Warren Buffett backs Occidental deal with $590 million stock purchase
Livemint
·
1y ago
Medial
Warren Buffett's Berkshire Hathaway has purchased nearly $590 million worth of Occidental Petroleum stock following the Texas oil company's agreement to acquire CrownRock LP. The purchases were made in multiple tranches, increasing Berkshire's stake in Occidental to over 27%. Although Occidental didn't need financial assistance from Buffett for the CrownRock deal, his purchases signal support for the acquisition.
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Warren Buffett details Berkshire’s Apple, Chevron and Capital One sales while also buying more Chubb
Livemint
·
11m ago
Medial
Warren Buffett has confirmed that he sold over 389 million Apple shares during the second quarter of this year. However, Berkshire Hathaway still holds 400 million shares, making it the conglomerate's largest holding in its stock portfolio. Berkshire has also reduced its investments in Bank of America, Chevron, Capital One, Floor & Decor Holdings, T-Mobile, Louisiana Pacific, and sold its nearly $1 billion Snowflake investment. Berkshire has a cash pile of $277 billion, a record high. Additionally, Berkshire increased its investments in Chubb and Occidental Petroleum, and made smaller investments in Heico Corp. and Ulta Beauty.
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A $150 Billion Question: What Will Warren Buffett Do With All That Cash?
Livemint
·
1y ago
Medial
Berkshire Hathaway's cash and equivalents have reached a record $157.2 billion at the end of September. Warren Buffett's annual report is highly anticipated, with investors eager to know his plans for the massive amount of cash and his thoughts on the economy and markets. Berkshire Hathaway's recent stock-market moves show a reduction in its Apple position but an increase in Chevron and Occidental Petroleum stakes. The company has also requested confidential treatment for undisclosed holdings, leading to speculation that it may have bought a financial stock. The tower of cash provides Buffett with the opportunity to make acquisitions and maintain financial strength.
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Warren Buffett’s Berkshire Hathaway Trims Its Massive Stake in Apple
Livemint
·
1y ago
Medial
Berkshire Hathaway, led by Warren Buffett, sold around 1% of its stake in Apple during Q4 2023, leaving it with a 5.9% stake valued at $167 billion. This move comes as Apple faces various challenges, including regulatory scrutiny and declining sales. Berkshire also reduced its position in HP but increased its stakes in Chevron and Occidental Petroleum. Investors await Buffett's annual letter, scheduled to be released on February 24.
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Warren Buffett to donate $6B to five foundations
YourStory
·
18d ago
Medial
Warren Buffett is donating $6 billion worth of Berkshire Hathaway stock to five foundations, increasing his total contributions since 2006 to approximately $60 billion. The largest portion, 9.4 million shares, will go to the Bill and Melinda Gates Foundation. Other recipients include the Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation, and NoVo Foundation. Buffett emphasizes his conservative investment approach and attributes his wealth to sound decisions, the American market, and compounding effects.
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Capital One to acquire Discover Financial Services in $35.3 billion deal
Livemint
·
1y ago
Medial
Capital One, backed by Warren Buffett, has announced plans to acquire Discover Financial Services in an all-stock deal valued at $35.3 billion. The merger aims to create a strong payment network to compete with major players like Visa and Mastercard. Under the deal, Discover shareholders will receive 1.0192 Capital One shares for each Discover share. Upon completion, Capital One shareholders will hold a 60% stake in the combined company. Capital One is currently the fourth-largest player in the US credit card market, while Discover holds the sixth position. This is a developing story.
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'That taboo...always made me nervous': Warren Buffett slams corporates' aversion towards this word, but lauds Amazon
Business Today
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4m ago
Medial
Warren Buffett acknowledged mistakes in capital allocation and management at Berkshire Hathaway, highlighting errors in stock investments and acquisitions as inevitable. He emphasized that postponing corrective actions is a major flaw. Evaluating managers' abilities and integrity poses a significant challenge. Buffett criticized corporations for portraying managerial infallibility and praised Amazon for its candidness in its 2021 investor letter, where it openly discussed missteps, breaking the trend of silence on corporate errors.
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Warren Buffett made the biggest charitable donation in 2023 worth $541.5 million
Livemint
·
1y ago
Medial
Warren Buffett emerged as the biggest charity donor of 2023, with a $541.5 million donation to the Susan Thompson Buffett Foundation. This donation, which was not part of his annual contributions, topped the Chronicle of Philanthropy's list of the largest charitable donations in 2023. Other notable donors on the list include James and Marilyn Simons, Ross Brown, and Phil and Penny Knight.
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Occidental Planning to Sell Bonds in Up to Five Parts
Livemint
·
12m ago
Medial
Occidental Petroleum Corp., the oil giant, plans to issue bonds in multiple parts to finance its acquisition of CrownRock LP. Banks have been asked to arrange investor calls for Monday, with the potential for debt issuance as early as Tuesday. While the offering is not dependent on the completion of the acquisition, Occidental will repurchase the outstanding notes at 101 cents on the dollar if the deal fails to close by December 10, 2025. The proceeds from the bond sale will support Occidental's purchase of CrownRock and related refinancing transactions.
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Warren Buffet pays tribute to Charlie Munger in letter to shareholders
Livemint
·
1y ago
Medial
Warren Buffett praised his late partner, Charlie Munger, as the architect of Berkshire Hathaway in his annual letter to shareholders. This is Buffett's first letter without Munger, who passed away in November 2023. Buffett credits Munger with shaping Berkshire's success and guiding him away from bad investment habits. Berkshire Hathaway reported strong fourth-quarter earnings, with its insurance business benefiting from improved underwriting. The conglomerate's net income reached a record $96.2 billion, boosted by the rising stock market. Berkshire also spent $9.2 billion on share repurchases in 2023.
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Warren Buffet's Berkshire Hathaway Q3 net loss widens to $12.77 billion
Livemint
·
1y ago
Medial
Berkshire Hathaway, headed by Warren Buffett, reported a net loss of $12.77 billion for the third quarter, primarily due to a decline in stock prices. However, the company's operating profit rose by 41% to $10.76 billion, mainly driven by improved results from its insurance operations. Berkshire Hathaway repurchased $1.1 billion of its own stock during the quarter, marking a total of about $7 billion repurchases for the year.
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