Category: Market News
Amazon.com Inc. shares AMZN, -14.05% fell 1.5% in premarket trade Monday, after the stock was removed from Wedbush’s Best Ideas List. “We are removing Amazon from the BIL due to our investment price discipline,” the firm said in a short statement. The move comes after Amazon shares suffered their worst day in more than 15 […]
Phillips 66 PSX, -0.52% said Friday it’s re-starting its $2.5 billion share buyback program after suspending it in March 2020 to preserve liquidity. Under the plan, the company may repurchase its outstanding shares of common stock from time to time in open market or privately negotiated transactions. Repurchases will be at management’s discretion and subject […]
Colgate-Palmolive Co. shares CL, -5.13% slid 4% premarket Friday, after profit fell in the first quarter and company warned of continued pressure from inflation and geopolitical concerns. The consumer goods giant posted net income of $559 million, or 66 cents a share, for the quarter, down from $681 million, or 80 cents a share, in […]
Charter Communications Inc. CHTR, -7.15% exceeded profit expectations for its first quarter while pointing to growth in residential and mobile revenue. Charter posted net income of $1.2 billion, or $6.90 a share, up from $807 million, or $4.11 a share, in the year-prior quarter. The FactSet consensus was for $6.54 per share in earnings. Revenue […]
Bloomin’ Brands Inc. BLMN, -0.05% stock soared 6.4% in Friday premarket trading after it reported a first-quarter earnings beat and raised its guidance. The restaurant company posted net income totaling $75.5 million, or 73 cents per share, up from $70.2 million, or 63 cents per share, last year. Adjusted EPS of 80 cents beat the […]
Shares of Bristol Myers Squibb Co. BMY, -2.50% were down 1.9% in premarket trading on Friday after the company told investors to expect less revenue from its cancer drug Revlimid and lower adjusted EPS for the full year of 2022. Bristol had net income of $1.2 billion, or 59 cents per share, in the first […]
Newell Brands Inc. NWL, +0.52% reported first-quarter net income of $234 million, or 55 cents per share, up from $89 million, or 21 cents per share, last year. Adjusted EPS of 36 cents beat the FactSet consensus for 27 cents. Sales of $2.388 billion were up from $2.288 billion last year and also ahead of […]
Berkshire Hathaway Inc. BRK.A, -2.94% BRK.B, -2.55% Vice Chairman Charlie Munger underlined his opposition to a proposal that would force Warren Buffett to give up his role as chairman of the conglomerate. Backers of the proposal “have some professor somewhere who thinks American businesses run better if” the CEO and chairman roles are split in […]
Berkshire Hathaway BRK.B, -2.55% was able to quickly buy a large stake in Occidental Petroleum Corp. OXY, -3.40% during the first quarter as the market has been “a casino” to an “extraordinary degree” over the past couple years, said Berkshire chief executive officer Warren Buffett at the conglomerate’s annual meeting in Omaha on Saturday. He […]
Berkshire Hathaway Inc. BRK.A, -2.94% BRK.B, -2.55% Chairman and CEO Warren Buffett said the company would be able to preserve its culture long after he’s left the scene. Responding to a question at Berkshire’s annual shareholder meeting, Buffett, 91, said Berkshire has “a culture that a) has worked and b) has the shares and shareholders […]