Top Midday Stories: Tesla, Boston Scientific Shares Jump Post-Earnings; Major Airline Stocks Down on New DOT Rules; B. Riley Finally Submits 10-K, Sends Stock Soaring

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Wed, Apr 24, 2024, 11:54 AM5 min read

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Top Midday Stories: Tesla, Boston Scientific Shares Jump Post-Earnings; Major Airline Stocks Down on New DOT Rules; B. Riley Finally Submits

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Berkshire's profit plunges 64% on portfolio holdings as Buffett sells Apple
Berkshire Hathaway's first quarter profits plummeted along with the paper value of its investments, but the company said Saturday that most of the businesses it owns outright performed well. The figures were heavily influenced by a large drop in the paper value of Berkshire’s investments. Buffett encourages investors to pay more attention to the conglomerate’s operating earnings that exclude the investment figures.
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Berkshire shareholders reject climate, diversity, China proposals
Berkshire Hathaway Inc shareholders on Saturday overwhelmingly rejected six proposals addressing environmental and social policy issues at Warren Buffett's conglomerate, all of which the billionaire investor and his board opposed. By margins of more than 4-to-1, shareholders at Berkshire's annual meeting voted against two proposals that the company's insurance and energy operations disclose more about their efforts to address climate change including greenhouse gas emissions. They also turned down a proposal for more disclosure about efforts to promote diversity, equity and inclusion in the workplace.
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Warren Buffett says Berkshire sold entire Paramount stake at a loss
NEW YORK (Reuters) -Warren Buffett said on Saturday that Berkshire Hathaway sold its entire holding in media and entertainment company Paramount Global at a loss and he took sole responsibility for the decision. "It was 100% my decision, and we've sold it all, and we lost quite a bit of money," Buffett said at Berkshire's annual shareholder meeting in Omaha, Nebraska. Berkshire held 63.3 million Paramount Class B shares at the end of 2023 or about 10.1% of the company.
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‘We Lost Quite a Bit of Money.’ Berkshire Sold Entire Paramount Stake, Buffett Says.
Berkshire Hathaway has sold its entire stake in Paramount Global losing “quite a bit of money,” Berkshire CEO Warren Buffett said at the company’s annual meeting on Saturday. Buffett also shot down speculation that Ted Weschler or Todd Combs, who together run about 10% of Berkshire Hathaway’s equity portfolio, had purchased the Paramount stake, taking responsibility for the investment himself. “It was 100% my decision and we’ve sold it all and we lost quite a bit of money,” said Buffett.
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Intel CEO Pat Gelsinger Picks Up Stock Near 2024 Low
Intel stock continued a 2024 slump in late April after the chip maker provided disappointing guidance. With the shares trading at their lows for this year, CEO Pat Gelsinger bought up Intel stock on the open market. According to forms he filed with the Securities and Exchange Commission, Gelsinger purchased the stock through a family trust that now owns 39,400 shares.
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Markets worry Treasury yields could jump back to levels that sparked chaos last October
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Top Midday Stories: Tesla, Boston Scientific Shares Jump Post-Earnings; Major Airline Stocks Down on New DOT Rules; B. Riley Finally Submits 10-K, Sends Stock Soaring

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