Berkshire Hathaway reported 37 percent decline in second quarter net profit compared to the same quarter last year. Due to an underwriting loss from the insurance sector and Geico, Berkshire net income declined to $4.01 billion.
Omaha-based Berkshire Hathaway registered gains in BNSF...read more
US automakers may witness a surge in shares. Next week’s May sales data is expected to touch record levels. Edmunds.com, a car buying platform, said a seasonally-adjusted annual rate of 17.4 million vehicles is likely to be matched by estimated sales of 1.6 million new cars and trucks in May....read more
Elon Musk recently announced Tesla Energy’s energy storage solutions for home and business users. However, the analysts remained unimpressed about Tesla’s prospects of profitability with its battery product.
For the current year, the consensus adjusted EPS estimate for Tesla has followed...read more
On Wednesday, Federal Reserve Chair Janet Yellen said that high equity valuations could pose potential dangers but that stability risks across the US financial system is in check.
Yellen said that she would highlight that generally the equity market valuations at this point are quite high...read more
The largest US cable operator, Comcast Corporation has posted better-than-expected first-quarter profit, as a result of strong growth in its high-speed Internet and business services.
On Monday morning, Comcast's shares went up by about 2% in pre-market trading after closing at $58.41 on...read more
First quarter profit for Warren Buffett's Berkshire Hathaway Inc has recorded jump of 10% and operating profits surpassed forecasts, thanks to railroad and insurance businesses and benefits derived from derivatives.
Omaha, Nebraska-based insurance and investment conglomerate reported...read more
A sharp decline of more than 15% came for Lumber Liquidators in pre-market trading after the company missing big earning in the first quarter. The company post showed a net loss on earning per diluted share of 29 cents. The expectations were of a gain of 15 cents.
Revenue of the company...read more
Technology major Apple announced that the company management has expanded the capital return program to $200 billion by the end of March 2017. The share repurchase program has been expanded from $90 billion to $140 billion this year. The quarterly dividend has been raised by 11 percent.
Search engine major Google has reported strong revenue for its online advertising business. The company reported growth in net income despite the strength in US dollar. Advertising volume recorded 13 percent growth, offsetting the 7 percent reduction in cost per click. Nearly half of Google’s...read more
Consumer goods major Procter & Gamble has reported slight decline in its third-quarter revenue. The company’s revenue did not meet expectations of analysts after the dollar affected its overseas sales adversely. The company said in a statement on Thursday that its revenue dropped 7.6% to $18...read more
JPMorgan Chase and Co has reported 12 percent rise in net profit for the first quarter. The biggest bank in the United States by assets has managed to increase the revenue from stock and bond trading for the first time since 2010. JPMorgan Chase reported $5.91 billion profit ($1.45 per share)...read more
General Electric management has planned a major shift in its portfolio to concentrate on manufacturing and industrial units. GE plans to exit its interest in GE Capital and CEO Jeffrey Immelt plans to spend around $5 billion on expansion of manufacturing units. GE is also in advance talks with...read more
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