During Berkshire Hathaway's annual meeting in Omaha, Nebraska, Warren Buffett took the stage to pay tribute to his longtime business partner, Charlie Munger. This marked the 60th meeting for Buffett, who has largely withdrawn from public appearances discussing the company. Buffett expressed his comfort with allowing chief executives of Berkshire's operating units to engage directly
Wall Street
UK stocks have been described by European equity strategists at HSBC Global Research as “unloved, unsuitable, and undervalued.” The reasons behind this assessment are multifaceted and include significant factors that have shaped the UK stock market's current state. One of the key aspects highlighted by HSBC is the diminishing appeal of the UK market for
In the ever-evolving digital landscape, Pinterest Inc. (NYSE: PINS) is actively taking steps to adapt and stay ahead of the curve. As a social media platform focused on visual discovery, Pinterest allows users to explore and save content based on their interests. The incorporation of various visual media types such as images, GIFs, and videos
The recent softening of U.S. job growth in April has fueled speculation about the Federal Reserve cutting interest rates later this year. The annual wage growth has also dipped below 4% for the first time in nearly three years, while the unemployment rate exceeded estimates. These factors have led traders to increase their bets on
The Asian suppliers of Apple Inc, such as Taiwan's TSMC and Hon Hai Precision Industry, experienced a significant drop in their stock prices amidst concerns over the decline in iPhone sales. The market reacted negatively, with TSMC and Hon Hai Precision Industry recording a 1.5% and 1.9% decrease in their stock prices, respectively. Similarly, AAC
Hotel giant Marriott International (NASDAQ:MAR) has recently increased its annual adjusted profit forecast following a mixed performance in the first quarter. Despite weakening trends in North America, Marriott is relying on the surge in international travel demand to drive its full-year profit. The company anticipates a significant boost in revenue per available room (RevPAR) from
The impact of higher-for-longer U.S. interest rates was felt across Asian stock markets on Wednesday, with Japanese and Australian stocks leading the losses. This negative sentiment was fueled by fears of prolonged U.S. interest rate hikes, as investors awaited the conclusion of a Federal Reserve meeting later in the day. Japanese Stock Market Performance Japan's
Amazon.com recently reported quarterly results that surpassed Wall Street's expectations. The company's focus on artificial intelligence has been a significant factor in driving growth in its cloud-computing division. Despite the impressive performance, Amazon's current-quarter revenue forecast fell short of expectations, causing a slight dip in the stock price during the regular session. Chief Financial Officer
Eli Lilly recently announced a significant increase in its annual sales forecast due to explosive demand and increased manufacturing capacity for its weight-loss drug Zepbound. This development has driven the company's shares to rise nearly 6% in value. The company expects to see substantial production increases in the second half of the year for its
The recent ruling by U.S. District Judge Zahid Quraishi in Trenton, New Jersey, to uphold the law requiring drug manufacturers like Bristol Myers Squibb and Johnson & Johnson to negotiate prices of their blood clot prevention drugs with the U.S government's Medicare program has sparked controversy in the pharmaceutical industry. Despite the drug companies' arguments
Lattice Semiconductor has had a challenging quarter, missing revenue expectations by 3.3% and reporting a 3% decline in revenues year-on-year. The weak performance in the previous quarter has raised concerns among investors regarding the company's outlook going into the upcoming earnings report. With underwhelming revenue guidance for the next quarter and a history of missing
In a recent development, it was reported that Daimler Truck has reached a new labor contract with over 7,300 hourly workers who are represented by the United Auto Workers (UAW) at six facilities in the U.S. South. This agreement has effectively averted a potential strike at the eleventh hour, bringing relief to both the company
The Asian stock market saw a mixed performance on Friday, with most stocks rising, particularly in the technology sector. The gains were largely driven by positive earnings reports from tech giants such as Microsoft and Alphabet. However, the overall sentiment was tempered by uncertainties around interest rates and inflation data. Japanese stocks experienced a modest
Royal Caribbean (NYSE:RCL) experienced a significant surge of 4.8% in its stock following the announcement of their first-quarter earnings, which managed to exceed analyst expectations by quite a margin. The cruise operator reported a higher adjusted EPS of $1.77 compared to the consensus estimate of $1.32. This positive outcome was also reflected in the revenue