stockmarket
Berkshire Hathaway Inc. (NYSE: BRK.B) reported its first-quarter earnings results on May 4, a highly anticipated day by stakeholders and followers. The financial statement revealed a 5.2% surge in the firm’s total revenue to $89.9 billion, whereas operating income increased by 39.1% YoY to $11.22 billion. Berkshire’s insurance and energy businesses contributed to the impressive quarterly performance. The earnings revealed Berkshire’s insurance segments saw $2.6 billion in underwriting profits, a remarkable increase from last year’s $911 million. Berkshire Hathaway earnings snapshotTotal revenu...
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Brookfield Asset Management (NYSE: BAM) stock price has pulled back after soaring to a record high in March as investors waited for the upcoming earnings. After peaking at $42.97 in March, it has retreated to $39. This performance is in line with other private equity companies like Blackrock, Apollo Global, and CVC. Brookfield earnings aheadBrookfield Asset Management will publish its financial results on Wednesday next week, joining hundreds of its other S&P 500 constituent companies. These will be important results since Brookfield is one of the biggest alternative investment companies globa...
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Rivian Automotive Inc (NASDAQ: RIVN) is in focus today after it named Javier Varela is new chief operations officer. Who is Javier Varela?Varela will replace Frank Klein at the electric vehicles company who’s quitting after two years in that role. He has most recently served in a similar role at Volvo Cars. The 59-year-old executive expressed admiration for Rivian’s “commitment to pushing the industry forward with technologically advanced, highly innovative vehicles” in a press release on Friday. Note that Varela will assume the role of COO at the EV firm in August. The news arrives only days ...
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Coinbase Global Inc (NASDAQ: COIN) has done exceptionally well over the past three months but it may be as far as its shares go at least in the near term. Ryan Lee shares his view on BitcoinThe crypto stock has outperformed this year partially on the back of a sharp rally in Bitcoin. But there’s reason to believe that the world’s largest cryptocurrency by market cap will pullback in May, says Ryan Lee – the chief analyst at Bitget. From the perspective of Fed Net Liquidity, market liquidity is significantly tightening, which may lead to average performance for BTC in May. Options market, he ad...
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Cruise lines served a total of 31.7 million passengers last year – up significantly from 4.8 million only in 2021. Simply put, the industry has made an exceptionally strong comeback after the pandemic. Having said that, here is our list of undervalued cruise stocks that could gain in 2024 as the passenger number continues to climb. Carnival Corp (NYSE: CCL)Carnival is worth buying at about $14.50 a share as it’s down nearly 20% versus its year-to-date high in early January. It’s on our list of top undervalued cruise stocks to buy in 2024 also because it’s the world’s largest cruise company kno...
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Trump Media & Technology Group Corp (NASDAQ: DJT) opened in the red this morning after the Securities & Exchange Commission charged its auditor with “massive fraud”. BF Borgers barred from practicing as an auditorThe malpractice of Benjamin Borgers and his firm BF Borgers CPA affected over 1,500 filings in total for which the federal regulator permanently barred the auditor today from working as an accountant. BF Borgers and its owner will also pay civil penalties worth $14 million, the SEC confirmed in a statement on Friday. In April, Benjamin Borgers’ firm was blocked from accepting new clie...
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Warren Buffett, the iconic investor and CEO of Berkshire Hathaway, took the stage at the company’s 60th annual meeting, marking a poignant moment in the firm’s history without Charlie Munger, Buffett’s longtime partner who passed away last November. Reflecting on a partnershipThe absence of Charlie Munger, who died at the age of 99, cast a long shadow over the event, historically enriched by the duo’s dynamic interactions. Munger’s sharp wit and concise commentary were a staple at these meetings, providing a counterbalance to Buffett’s detailed discussions on various topics including the econo...
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Sustainable energy company EOG Resources has reported its Q1 2024 quarterly earnings, with better-than-expected results all round. One chief reason for this, according to the company, was that EOG experiences “volumes and total per-unit cash operating costs better than guidance midpoints.” It also reflected the continued bullishness of investors and market sentiment at large for more sustainable energy solutions. EOG, with its natural gas, hydrocarbon and crude oil streams, seems to be benefitting from the zeitgeist nicely. Net income and free cash flow riseThe company reported an adjusted net...
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Celsius Holding’s (NASDAQ: CELH) stock price has lost its momentum recently. It has crashed from the year-to-date high of $99.50 to the current $74.40. Still, despite the pullback, it is one of the best-performing companies in Wall Street as it soared by over 11,000% from its lowest level in 2020. The case for Celsius HoldingsThere are several reasons why the Celsius Holdings stock price will likely continue rising after releasing its earnings report on Monday. First, there are signs that the energy drink industry is doing well. On Thursday, Monster Beverage, its rival, said that its revenue r...
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Chocolate makers the Hershey company reported its Q1 results for 2024 ahead of markets opening in the US today. The results showed an uptick in sales, income and earnings per share, compared with both Q1 and Q4 of 2023. The cocoa priceThis likely reflected the fact that companies like Hershey and Mondelez (the maker of Cadbury’s, who reported results earlier this week), have now largely recovered from the historically high cocoa prices experienced earlier this year, and that this plus Easter chocolate sales provided a boost to profits, compared with Q4 earnings. Read our analyst’s cocoa price ...
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