Tag Archives: Warren Buffett

Money News.

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  • Shares of BlackBerry slipped on Thursday, after the company’s former Co-Chief Executive Officer Jim Balsillie disclosed that by the end of last year he had sold his entire stake in the company. He owned about 26.8 million shares, or a roughly 5%.
  • On Wednesday, cable and internet provider Comcast announced that it would become the sole owner of NBCUniversal, purchasing the 49% stake that belongs to General Electric for $16.7 billion.
  • Burger King is teaming up with Seattle’s Best Coffee (owned by Starbucks) to add lattes and flavoured coffees to its menu in an attempt to catch up with McDonald’s.
  • Warren Buffett and fellow billionaire Jorge Lemann (one of Brazil’s richest men) are teaming up to buy the Heinz ketchup company for $23.3 billion marking the food industry’s biggest deal ever.
  • Billionaire hedge fund manager David Einhorn is suing Apple in an attempt to force the company to unlock its massive $137 billion in cash and return some of that money to shareholders in the form of preferred shares with a 4% yield.
  • In the fourth quarter, iPhone shipments to India were about three to four times what they were in the third quarter, according to new research from IDC. And the research house expects them to grow roughly 150% year over year in 2013.
  • Wondering why there is so much obesity in America? This month PepsiCo Inc. is rolling out a new breakfast drink called Kickstart that has Mountain Dew flavour but is made with 5 per cent juice and Vitamins B and C, along with an extra jolt of caffeine. Or you could just have a Cafe´ Vanilla Frappuccino at Starbucks with 14 grams of fat and 69 grams of sugar. Rise and shine!

Money News

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Markets were down this week as the European economy showed increasing signs of deterioration and a U.S. payroll report points to another sluggish period for the economic recovery.

Canadian market this week

On Tuesday Research In Motion unveiled its crucial BlackBerry 10 software and the stock has dropped roughly 15% since to hit an 8 year low of $11.77. In 2008, RIM was worth more than the Royal Bank of Canada’s with a share price peaking around $148.

Research In Motion 1 year chart

On Wednesday Whole Foods (or Whole Paycheck as some people call it) reported second quarter results and sales for the quarter increased 14% to $2.7 billion. The stock is up 50% this year and is rated a “strong buy” by most analysts.

Whole Foods 1 year chart

The Super Bowl of investing is happening this weekend. The Berkshire Hathaway annual meeting – hosted by 81-year-old Warren Buffett – is a private event open exclusively to shareholders and select media. Buffett’s disclosure that he has prostate cancer has again raised the question of who will eventually succeed the world’s most successful investor at Berkshire Hathaway.

Full coverage of the event: The Motley Fool – Berkshire Hathaway 2012 Annual Meeting

Money News

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  1. Warren Buffett told his company’s shareholders in an open letter Tuesday that he has been diagnosed with early-stage prostate cancer.
  2. Charlie Sheen’s comeback series “Anger Management” is being sued for $50 million by a producer who says he spent two years developing the property for television but was pushed out when Sheen signed on.
  3. Blockbuster closed more than 400 stores in Canada last year and on Tuesday, Rogers confirmed its more than 90 remaining video stores stopped renting movies.
  4. Aiming to fill the void, Redbox is bringing its popular vending-machine DVD business to Canada. Redbox is a division of Coinstar Inc. (QSTR-Q) The stock is rated a buy and is up over 50% since January.
  5. The Bank of Canada reported this week that the Canadian economy is on track to regain its full productive capacity sometime early next year.
  6. Bank of Canada Governor Mark Carney said this week that the bank is pondering an eventual move higher in its key interest rate, from its current rock-bottom level of 1%.
  7. A Bank of Montreal study finds more than 40% of Canadians surveyed are unsure about their ability to afford their homes in the case of a 2% interest rate hike. Read more. 
  8. After years of trying, AFTRA and SAG have merged creating a new entity, SAG-AFTRA. How will this affect Canadian actors and our two unions?
  9. After rebounding from a 5 day losing streak last week, Apple shares were down 3.44% today to close at $587.44. Goldman Sachs raised its price target Wednesday to $750 and Henderson Global Investors said that Apple is “extremely undervalued” and should rise to $1,200 – without specifying a time frame.

Apple stock - 5 day range