China is driving growth in Asia’s real estate market despite trade war headwinds, report finds

Real estate markets in Asia-Pacific grew at a record-breaking pace in the first quarter of this year — thanks in part to China and despite a global decline, according to real estate consultancy JLL. The region recorded a new first-quarter high of $45 billion in real estate transaction volumes, according the company’s Global Capital Flows report for the first quarter of 2019. The “domestic consumption story is so strong” in China, JLL’s head of Asia Pacific capital markets Stuart Crow told CNBC’s


Real estate markets in Asia-Pacific grew at a record-breaking pace in the first quarter of this year — thanks in part to China and despite a global decline, according to real estate consultancy JLL. The region recorded a new first-quarter high of $45 billion in real estate transaction volumes, according the company’s Global Capital Flows report for the first quarter of 2019. The “domestic consumption story is so strong” in China, JLL’s head of Asia Pacific capital markets Stuart Crow told CNBC’s
China is driving growth in Asia’s real estate market despite trade war headwinds, report finds Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: shirley tay
Keywords: news, cnbc, companies, war, market, china, growth, capital, markets, investment, transaction, estate, report, real, driving, headwinds, finds, logistics, trade, quarter


China is driving growth in Asia's real estate market despite trade war headwinds, report finds

Real estate markets in Asia-Pacific grew at a record-breaking pace in the first quarter of this year — thanks in part to China and despite a global decline, according to real estate consultancy JLL.

The region recorded a new first-quarter high of $45 billion in real estate transaction volumes, according the company’s Global Capital Flows report for the first quarter of 2019.

That’s a 14% increase compared to a year ago — outperforming the Americas, as well as Europe, the Middle East and Africa (EMEA), the JLL report showed.

“Driving this performance was China, where quarterly investment surged to an all-time high of US$17 billion due to an increase in cross-border capital inflows and large-scale transaction activity,” said the report which was released in May.

The “domestic consumption story is so strong” in China, JLL’s head of Asia Pacific capital markets Stuart Crow told CNBC’s “Street Signs Asia” on Thursday.

“We’re seeing a huge amount of investment into the manufacturing — and most particularly in our world — the logistics real estate,” Crow added. “Even some of the big players in China themselves, being Alibaba and JD.com, (are) investing in that logistics real estate sector. “


Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: shirley tay
Keywords: news, cnbc, companies, war, market, china, growth, capital, markets, investment, transaction, estate, report, real, driving, headwinds, finds, logistics, trade, quarter


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JP Morgan slashes second-quarter GDP forecast to just 1%

“The April durable goods report was bad, particularly the details relating to capital goods orders and shipments. The J.P. Morgan economists also changed their view on the Fed, and now do not expect the next move to be an interest rate hike. The durable goods report follows Thursday’s PPI manufacturing and services data that was also surprisingly weak. The J.P. Morgan economists said the key risks they see for U.S. growth include the uncertainty from the trade war, impacting business sentiment,


“The April durable goods report was bad, particularly the details relating to capital goods orders and shipments. The J.P. Morgan economists also changed their view on the Fed, and now do not expect the next move to be an interest rate hike. The durable goods report follows Thursday’s PPI manufacturing and services data that was also surprisingly weak. The J.P. Morgan economists said the key risks they see for U.S. growth include the uncertainty from the trade war, impacting business sentiment,
JP Morgan slashes second-quarter GDP forecast to just 1% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: patti domm
Keywords: news, cnbc, companies, jp, gdp, risks, report, morgan, forecast, growth, economists, slashes, yields, secondquarter, orders, quarter, goods


JP Morgan slashes second-quarter GDP forecast to just 1%

A truck hauls a shipping container at Yusen Terminals (YTI) on Terminal Island at the Port of Los Angeles in Los Angeles, California

J.P. Morgan economists said they now see much slower second-quarter growth of just 1%, down from their prior forecast of 2.25% and way off the 3.2% reported in the first quarter.

“The April durable goods report was bad, particularly the details relating to capital goods orders and shipments. Coming on the heels of last week’s crummy April retail sales report, it suggests second quarter activity growth is sharply downshifting from the first quarter pace, ” the economists wrote.

The Atlanta Fed’s GDP Now tracker has GDP growth for the first quarter at 1.3% for the quarter.

The J.P. Morgan economists also changed their view on the Fed, and now do not expect the next move to be an interest rate hike.

“We had previously expected the next move from the Fed would be a hike, albeit at the very end of our forecast horizon in late 2020. We now see the risks of the next move as about evenly distributed between a hike and a cut. We still sense little appetite on the FOMC for an insurance ease to goose inflation, but we see rising odds of ‘your father’s rate cut’: one prompted by downside growth risks,” they wrote.

The durable goods report follows Thursday’s PPI manufacturing and services data that was also surprisingly weak. That data helped fuel a stock market sell off and buying in Treasurys, which sent yields to 2017 lows. Yields move opposite price, and the low yields reflected concern about the economy.

The 10-year Treasury yield was at 2.32% Friday, after dipping as low as 2.29% Thursday. The fed funds futures market is reflecting expectations for more than 25 basis points of easing this year, and at least another cut in 2020.

“Net, net, business investment in the future is sputtering at the start of the second quarter as uncertainty and geopolitical risks are a heavy anchor that appears to be a big drag on companies’ willingness to order up new equipment,” noted Chris Rupkey, MUFG Union Bank chief financial economist. “Business confidence is clearly lacking in the manufacturing sector of the economy.”

Rupkey added that corporate chief financial officers may believe, as some surveys suggest, that the odds are increasing for a recession so they have canceled orders in March and ordered less equipment in April.

The J.P. Morgan economists said the key risks they see for U.S. growth include the uncertainty from the trade war, impacting business sentiment, and global economic slowing.

In the April durable goods report, total orders at manufacturers declined 2.1% last month, due to large declines of aircraft and motor vehicle orders. Beyond transportation, the J.P. Morgan economists noted that orders were flat last month and revised significantly lower in March.


Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: patti domm
Keywords: news, cnbc, companies, jp, gdp, risks, report, morgan, forecast, growth, economists, slashes, yields, secondquarter, orders, quarter, goods


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25% of US adults have no retirement savings

A new report from the Federal Reserve paints a bleak picture of America’s retirement savings. Almost a quarter of adults in the U.S. have no retirement savings or pension at all, according to the Fed’s 2018 Report on the Economic Well-Being of U.S. Households, and just 36% percent of non-retired adults think that their retirement saving is on track. The report also found that a third of middle-class adults can’t afford to cover a $400 emergency. Of non-retired adults with savings, 54% say they h


A new report from the Federal Reserve paints a bleak picture of America’s retirement savings. Almost a quarter of adults in the U.S. have no retirement savings or pension at all, according to the Fed’s 2018 Report on the Economic Well-Being of U.S. Households, and just 36% percent of non-retired adults think that their retirement saving is on track. The report also found that a third of middle-class adults can’t afford to cover a $400 emergency. Of non-retired adults with savings, 54% say they h
25% of US adults have no retirement savings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: alicia adamczyk
Keywords: news, cnbc, companies, retirement, report, bill, adults, workers, savings, nonretired, save, say, pension, 25


25% of US adults have no retirement savings

A new report from the Federal Reserve paints a bleak picture of America’s retirement savings. Almost a quarter of adults in the U.S. have no retirement savings or pension at all, according to the Fed’s 2018 Report on the Economic Well-Being of U.S. Households, and just 36% percent of non-retired adults think that their retirement saving is on track. The report also found that a third of middle-class adults can’t afford to cover a $400 emergency. Of non-retired adults with savings, 54% say they have money in a 401(k) or 403(b) plan, 33% have an individual retirement account and 22% have a pension. Retirement preparedness, of course, varies by age. Young workers aged 18 to 29 are less likely to have savings, with 42% saying they have nothing stashed away, while 17% of those aged 45 to 59 say the same thing.

A bipartisan bill passed by the U.S. House of Representatives on Thursday, May 23, could help Americans save more. The Secure Act would make it easier for small businesses to offer 401(k) plans and eliminates the maximum age to contribute to IRAs, which is currently 70½. The bill would also require businesses to make retirement accounts available to long-term, part-time workers. The bill is now heading to the Senate.

How to save for retirement


Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: alicia adamczyk
Keywords: news, cnbc, companies, retirement, report, bill, adults, workers, savings, nonretired, save, say, pension, 25


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Europe markets open mixed as trade war threatens to become tech war

European markets opened mixed Wednesday, as investors monitor the increasing involvement of technology giants in the U.S.-China trade war. Investors will be monitoring trade developments between the world’s two largest economies, after a reprieve from the U.S. temporarily backing off its blacklisting of Chinese telecommunications giant Huawei caused European markets to rebound slightly Tuesday. China’s GAC Motor, one of the nation’s largest carmakers, postponed its U.S. launch due to uncertainty


European markets opened mixed Wednesday, as investors monitor the increasing involvement of technology giants in the U.S.-China trade war. Investors will be monitoring trade developments between the world’s two largest economies, after a reprieve from the U.S. temporarily backing off its blacklisting of Chinese telecommunications giant Huawei caused European markets to rebound slightly Tuesday. China’s GAC Motor, one of the nation’s largest carmakers, postponed its U.S. launch due to uncertainty
Europe markets open mixed as trade war threatens to become tech war Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: elliot smith
Keywords: news, cnbc, companies, tech, europe, trade, house, threatens, mixed, president, chinese, markets, monitoring, report, minister, open, war, white


Europe markets open mixed as trade war threatens to become tech war

European markets opened mixed Wednesday, as investors monitor the increasing involvement of technology giants in the U.S.-China trade war.

The pan-European STOXX 600 edged lower at the opening bell, telecoms showing an early 0.4% drop while autos led marginal gains in the early minutes of trading.

Investors will be monitoring trade developments between the world’s two largest economies, after a reprieve from the U.S. temporarily backing off its blacklisting of Chinese telecommunications giant Huawei caused European markets to rebound slightly Tuesday.

Markets in Asia were subdued Wednesday afternoon, with mainland Chinese shares largely flat while indexes in Japan, Hong Kong and South Korea showed slight gains.

China’s GAC Motor, one of the nation’s largest carmakers, postponed its U.S. launch due to uncertainty over the trade war, while Tencent CEO Pony Ma said he was watching whether a tech war will ensue. Meanwhile, Chinese President Xi Jinping said China is embarking on a “new Long March,” suggesting no imminent end to the trade war.

Stateside, investors will also be monitoring domestic and geopolitical developments, as House Democrats subpoenaed two more former White House aides just hours after former White House Counsel Donald McGahn no-showed for testimony at President Trump’s request.

The State Department said Tuesday that it sees signs the Syrian government may be using chemical weapons, warning that Washington and its allies would respond “quickly and appropriately” should the allegations be proven.

Back in Europe, U.K. Prime Minister Theresa May sought to break the Brexit deadlock with the main opposition Labour Party and pro-European Union lawmakers, offering Members of Parliament a vote on whether to hold another referendum if they back her EU Withdrawal Agreement Bill.

Meanwhile, the Austrian far right FPO crashed out of the country’s coalition government after the President sided with Conservative Chancellor Sebastian Kurz and sacked its interior minister following a sting video.

In corporate news, German lender Commerzbank will hold its AGM Wednesday following the collapse of merger talks with domestic rival Deutsche Bank. Elsewhere, British retailer Marks & Spencer will report full-year results along with Royal Mail, which is expected to report a slump in profits.


Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: elliot smith
Keywords: news, cnbc, companies, tech, europe, trade, house, threatens, mixed, president, chinese, markets, monitoring, report, minister, open, war, white


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Xi Jinping says China is embarking on a ‘new Long March,’ signaling no end to trade war soon

Chinese President Xi Jinping ramped up his rhetoric yet again on the trade war. “We are here at the starting point of the Long March to remember the time when the Red Army began its journey,” Xi said at a rally in Jiangxi province during a domestic tour. “We are now embarking on a new Long March, and we must start all over again!” according to a report from the South China Morning Post.


Chinese President Xi Jinping ramped up his rhetoric yet again on the trade war. “We are here at the starting point of the Long March to remember the time when the Red Army began its journey,” Xi said at a rally in Jiangxi province during a domestic tour. “We are now embarking on a new Long March, and we must start all over again!” according to a report from the South China Morning Post.
Xi Jinping says China is embarking on a ‘new Long March,’ signaling no end to trade war soon Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: yun li
Keywords: news, cnbc, companies, start, soon, end, china, xi, jinping, south, report, long, tour, trade, embarking, war, rhetoric, warwe, starting, signaling


Xi Jinping says China is embarking on a 'new Long March,' signaling no end to trade war soon

Chinese President Xi Jinping ramped up his rhetoric yet again on the trade war.

“We are here at the starting point of the Long March to remember the time when the Red Army began its journey,” Xi said at a rally in Jiangxi province during a domestic tour. “We are now embarking on a new Long March, and we must start all over again!” according to a report from the South China Morning Post.


Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: yun li
Keywords: news, cnbc, companies, start, soon, end, china, xi, jinping, south, report, long, tour, trade, embarking, war, rhetoric, warwe, starting, signaling


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Broadcom falls on report FTC is looking into the company

The most popular stocks for hedge fund managers are crushing the… While investing often seems like a contrarian game where going against the flow feels like the better bet, the reality is that investors who bought the most-favored stocks… Hedge Fundsread more


The most popular stocks for hedge fund managers are crushing the… While investing often seems like a contrarian game where going against the flow feels like the better bet, the reality is that investors who bought the most-favored stocks… Hedge Fundsread more
Broadcom falls on report FTC is looking into the company Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-20  Authors: jordan novet
Keywords: news, cnbc, companies, looking, company, ftc, investors, investing, reality, falls, stocks, popular, stockshedge, thewhile, managers, mostfavored, hedge, report, broadcom


Broadcom falls on report FTC is looking into the company

The most popular stocks for hedge fund managers are crushing the…

While investing often seems like a contrarian game where going against the flow feels like the better bet, the reality is that investors who bought the most-favored stocks…

Hedge Funds

read more


Company: cnbc, Activity: cnbc, Date: 2019-05-20  Authors: jordan novet
Keywords: news, cnbc, companies, looking, company, ftc, investors, investing, reality, falls, stocks, popular, stockshedge, thewhile, managers, mostfavored, hedge, report, broadcom


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Pinterest plunges after earnings but Wall Street analysts are sticking with the stock

Wall Street analysts are sticking with Pinterest despite a very rocky first earnings report Thursday after the bell. Analysts at UBS noted Pinterest is in a, “unique position,” in its space and reiterated its confidence in the company’s ability to execute over the long haul. “While its initial earnings report & forward commentary were roughly inline with Street estimates, we still see signs that PINS long-term narrative is solidly intact,” wrote UBS analyst Eric Sheridan in his recap not to clie


Wall Street analysts are sticking with Pinterest despite a very rocky first earnings report Thursday after the bell. Analysts at UBS noted Pinterest is in a, “unique position,” in its space and reiterated its confidence in the company’s ability to execute over the long haul. “While its initial earnings report & forward commentary were roughly inline with Street estimates, we still see signs that PINS long-term narrative is solidly intact,” wrote UBS analyst Eric Sheridan in his recap not to clie
Pinterest plunges after earnings but Wall Street analysts are sticking with the stock Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: michael bloom
Keywords: news, cnbc, companies, plunges, analyst, ubs, stock, street, pinterest, wall, analysts, report, intact, view, trading, earnings, wasnt, sticking


Pinterest plunges after earnings but Wall Street analysts are sticking with the stock

Wall Street analysts are sticking with Pinterest despite a very rocky first earnings report Thursday after the bell. The social media platform posted a much bigger loss than many expected.

Most analysts feel the social media company, which went public last month, is on the right track and said to use the pullback as an opportunity to buy the shares.

“The stock could remain volatile near term, but management laid out a compelling roadmap that should ensure ongoing strong revenue growth and a route to attractive profitability over the medium term,” Atlantic Equities analyst James Cordwell said.

Shares plunged 15% in premarket trading Friday to $25.79, still above the stock’s $19 IPO price but just around its closing price on its first day of trading of $24.40.

The negative earnings headlines were mostly, “noise,” according to Baird analysts.

“Overall, fundamentals are intact, and we view significant near-term weakness as an attractive buying opportunity,” analyst Colin Sebastian said.

Analysts at UBS noted Pinterest is in a, “unique position,” in its space and reiterated its confidence in the company’s ability to execute over the long haul.

“While its initial earnings report & forward commentary were roughly inline with Street estimates, we still see signs that PINS long-term narrative is solidly intact,” wrote UBS analyst Eric Sheridan in his recap not to clients.

One analyst admitted the earnings report wasn’t great but wasn’t backing down from his buy rating.

“Though the headline outlook may have missed the mark, we believe expectations have been broadly reset for the rest of the year and our view on the long-term drivers of the business remain intact (and actually pulled in a bit),” Nomura analyst Mark Kelley said.

Here are what the major analysts are saying about Pinterest earnings:


Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: michael bloom
Keywords: news, cnbc, companies, plunges, analyst, ubs, stock, street, pinterest, wall, analysts, report, intact, view, trading, earnings, wasnt, sticking


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Tesla shares drop after report says its Autopilot system was engaged during a fatal crash

Tesla shares fell almost 8% on Friday to their lowest close since December 2016, after the National Transportation Safety Board said the company’s Autopilot driver assistance system was engaged during a fatal crash in March. The latest crash occurred in Delray Beach, Florida, and involved a Model 3. The accident was at least the third of its kind in the U.S. and raises concerns about Tesla’s Autopilot technology. Tesla’s manufacturing operation burns so much cash that the company’s long-term pat


Tesla shares fell almost 8% on Friday to their lowest close since December 2016, after the National Transportation Safety Board said the company’s Autopilot driver assistance system was engaged during a fatal crash in March. The latest crash occurred in Delray Beach, Florida, and involved a Model 3. The accident was at least the third of its kind in the U.S. and raises concerns about Tesla’s Autopilot technology. Tesla’s manufacturing operation burns so much cash that the company’s long-term pat
Tesla shares drop after report says its Autopilot system was engaged during a fatal crash Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: ari levy lora kolodny, ari levy, lora kolodny
Keywords: news, cnbc, companies, transportation, crash, fatal, report, system, autopilot, safety, used, technology, engaged, companys, teslas, upcoming, shares, drop, tesla


Tesla shares drop after report says its Autopilot system was engaged during a fatal crash

Tesla shares fell almost 8% on Friday to their lowest close since December 2016, after the National Transportation Safety Board said the company’s Autopilot driver assistance system was engaged during a fatal crash in March.

Elon Musk, Tesla’s billionaire co-founder and CEO, has been touting the company’s self-driving technology, going so far as to say last month that it will have 1 million robotaxis on the road next year. While investors are used to discounting Musk’s public comments because of how frequently the company has failed to deliver on its promises, actual reports of safety hazards create a deeper problem.

The latest crash occurred in Delray Beach, Florida, and involved a Model 3. The accident was at least the third of its kind in the U.S. and raises concerns about Tesla’s Autopilot technology. Tesla’s manufacturing operation burns so much cash that the company’s long-term path to generating profits relies on its software.

“Autopilot software has incredibly high profit margins which makes it critical to Tesla’s shot at overall profitability,” said Edward Niedermeyer, the author of an upcoming book on Tesla.


Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: ari levy lora kolodny, ari levy, lora kolodny
Keywords: news, cnbc, companies, transportation, crash, fatal, report, system, autopilot, safety, used, technology, engaged, companys, teslas, upcoming, shares, drop, tesla


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Pinterest CEO after earnings report tumble: We’re in the growth phase of our business

The stock dropped nearly 14% during the session after the company posted a wider loss per share than Wall Street expected. Pinterest reported a loss per share of 32 cents, compared with Refinitiv consensus estimate of 11 cents per share. Silbermann said users come to the app for ideas around planning meals, wardrobe and home decor, among other things. “If, for example, you’re finding new clothes to wear or if you’re redecorating your house, ads can actually be really, really helpful to turn that


The stock dropped nearly 14% during the session after the company posted a wider loss per share than Wall Street expected. Pinterest reported a loss per share of 32 cents, compared with Refinitiv consensus estimate of 11 cents per share. Silbermann said users come to the app for ideas around planning meals, wardrobe and home decor, among other things. “If, for example, you’re finding new clothes to wear or if you’re redecorating your house, ads can actually be really, really helpful to turn that
Pinterest CEO after earnings report tumble: We’re in the growth phase of our business Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: tyler clifford
Keywords: news, cnbc, companies, billion, transparent, revenue, build, report, phase, tumble, advertising, earnings, business, users, growth, really, companys, pinterest, ceo, silbermann, share


Pinterest CEO after earnings report tumble: We're in the growth phase of our business

Pinterest CEO Ben Silbermann told CNBC’s Jim Cramer on Friday that the company’s leadership will continue to be transparent and focus on the company’s long-term trajectory — despite a tumble after the company’s first quarterly report as a public company.

Silbermann sat down with the “Mad Money” host a day after delivering Pinterest’s first quarterly results to shareholders since going public last month. The stock dropped nearly 14% during the session after the company posted a wider loss per share than Wall Street expected.

“We’re not trying to set expectations artificially low and go above them,” he said. “We’re trying to be transparent, and I think that the consistent thing you’ll hear from me … is that we want to focus on the long term.”

Pinterest reported a loss per share of 32 cents, compared with Refinitiv consensus estimate of 11 cents per share. However, the social media platform beat revenue estimates by $1.3 million. Revenue grew 54% year over year, Silbermann noted.

Monthly active users also grew by 22% from the same period the year prior. Silbermann said users come to the app for ideas around planning meals, wardrobe and home decor, among other things.

“We’re definitely in the growth phase of our business. We’ve tried to be very transparent and clear,” he said.

Pinterest is working with retailers and consumer packaged goods companies and is working on expanding to small- and medium-sized businesses and internationally, Silbermann said.

“We want to build the best place to get inspiration,” he said. “We want to build personalization, the best visual discovery tools, and then we want to make sure that if you see something you like, we can actually help you make it into reality.”

Pinterest is connecting its 291 million global users directly to businesses, Silbermann said. Two in three users come from outside the United States, he added. The technology company is building advertising tools that can present products to people at their finger tips and present metrics to business clients, he said.

Pinterest expanded its advertising markets from seven to 13 in the quarter, he added.

“That alignment has been really important as we build out advertising solutions,” Silbermann said. “If, for example, you’re finding new clothes to wear or if you’re redecorating your house, ads can actually be really, really helpful to turn that inspiration into something in your real life.”

Pinterest is forecasting between $1.06 billion and $1.08 billion in revenue for the full year 2019, which would mark its first $1 billion year. Analysts are projecting $1.07 billion.


Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: tyler clifford
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Warren Buffett’s Berkshire Hathaway reveals $900 million Amazon stake

Warren Buffett’s Berkshire Hathaway on Wednesday revealed in a government filing the size of its stake in e-commerce giant Amazon. Berkshire’s stake in Amazon was 483,300 shares at the end of the quarter ended March 31, according to a filing at the Securities and Exchange Commission. “Yeah, I’ve been a fan, and I’ve been an idiot for not buying” Amazon shares, Buffett said at the time. Amazon shares rose 0.1% in after-hours trading following the SEC filing. Berkshire Hathaway’s report also showe


Warren Buffett’s Berkshire Hathaway on Wednesday revealed in a government filing the size of its stake in e-commerce giant Amazon. Berkshire’s stake in Amazon was 483,300 shares at the end of the quarter ended March 31, according to a filing at the Securities and Exchange Commission. “Yeah, I’ve been a fan, and I’ve been an idiot for not buying” Amazon shares, Buffett said at the time. Amazon shares rose 0.1% in after-hours trading following the SEC filing. Berkshire Hathaway’s report also showe
Warren Buffett’s Berkshire Hathaway reveals $900 million Amazon stake Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: thomas franck
Keywords: news, cnbc, companies, stake, position, million, hathaway, berkshire, amazon, shares, warren, buffett, reveals, value, shareholder, 900, buffetts, size, report


Warren Buffett's Berkshire Hathaway reveals $900 million Amazon stake

Warren Buffett’s Berkshire Hathaway on Wednesday revealed in a government filing the size of its stake in e-commerce giant Amazon.

Berkshire’s stake in Amazon was 483,300 shares at the end of the quarter ended March 31, according to a filing at the Securities and Exchange Commission. The value of that stake was $904 million by the closing bell Wednesday.

Despite the sizable headline figure, the position doesn’t put Berkshire near the top of Amazon’s biggest shareholder list. The stake represents about 0.1% of Amazon’s outstanding equity.

Buffett first disclosed the new investment in Amazon to CNBC on May 2, a day before Berkshire’s annual shareholder meeting in Omaha, Nebraska. The size of the position, however, had not previously been reported to the public.

The renowned value investor — though a fan of Amazon and its CEO, Jeff Bezos — also told CNBC earlier this month that he isn’t responsible for Berkshire’s investment.

“One of the fellows in the office that manage money … bought some Amazon, so it will show up in the 13F,” Buffett said on May 2. Buffett was likely referring to one of his two lieutenants, Todd Combs or Ted Weschler, who each manage portfolios of more than $13 billion in equities for Berkshire.

“Yeah, I’ve been a fan, and I’ve been an idiot for not buying” Amazon shares, Buffett said at the time. “But I want you to know it’s no personality changes taking place.”

Amazon shares rose 0.1% in after-hours trading following the SEC filing.

Berkshire Hathaway’s report also showed an 18% increase in its J.P. Morgan Chase stake to 59.5 million shares and a 22% increase to its Red Hat holdings to 5.1 million shares.

— CNBC’s Becky Quick contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: thomas franck
Keywords: news, cnbc, companies, stake, position, million, hathaway, berkshire, amazon, shares, warren, buffett, reveals, value, shareholder, 900, buffetts, size, report


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