Author: starbpo

Warren Buffett’s company made $47 billion in stock sales in the second quarter after he cut Berkshire Hathaway’s huge share in Apple. However, earnings were lower than expected because the paper value of its remaining investments went down, even though many of the companies it owns did better. The biggest news of the quarter was that the company sold off a lot of its Apple AAPL 0.69% shares. Buffett once said that the company’s stake in the iPhone maker was a cornerstone of its business that he planned to keep forever. Other big investment moves Buffett made during the quarter…

This week wasn’t good for Advanced Micro Devices Inc.’s price, based on the numbers. It’s still possible for AMD shares to drop 3% this week, even though the company reported good earnings. If you look at it another way, AMD AMD -0.03% could end up being one of the biggest winners this week. The company’s earnings showed that artificial intelligence was going in a good direction, and Intel Corp.’s earnings showed that AMD would likely continue to gain from Intel’s mistakes. Because of this new information, AMD shares are up 2.6% on Friday, while the PHLX Semiconductor Index SOX is…

Troubled chipmaker Intel Corp.’s bonds were getting smashed on Friday as the stock fell to a 50-year low. As the selling sped up, spreads widened by 15 to 20 basis points. To make things even worse, S&P Global Ratings changed Intel’s A-minus rating to CreditWatch Negative, which means that the company could soon lose its credit ranking. This is because the rating agency said in a statement that they think the company will likely miss the free cash flow and possible leverage targets that are in line with its current rating. The earnings report from Intel INTC -26.06% late Thursday…

For months, stores have been telling customers that spending is going to be tough. It looks like not even Amazon.com Inc. is safe. Amazon’s AMZN -8.78% stock price has been moving a lot lately because of the company’s progress in cloud computing. Amazon delivered on AWS in the most recent quarter with 19% growth, which was better than expected and faster than the previous quarter. But Amazon shares were punished on Friday when the company posted a miss on overall revenue. They fell about 9%. According to what the company said, consumers being careful could slow down the growth of…

Intel Corp.’s stock just had its worst daily drop in decades, dropping 26%. This took more than $30 billion off the market value of the company. The company is in the middle of a $10 billion cost-cutting plan that includes ending the dividend, laying off a lot of workers, and cutting capital costs. All of this is happening while the company is burning cash and facing strong margin pressure. These problems seem to be enough to make investors very worried, but maybe Intel’s stock INTC -26.06% drop would have been even worse if the company didn’t have one important thing…

IN DETROIT — The United Auto Workers backed Vice President Kamala Harris for president on Wednesday. This gives her union more power in the likely election against Republican Donald Trump in November. In a statement, UAW President Shawn Fain said that defeating Trump was the union’s “job” in this year’s race. There are over a million current and retired members of the union. It has a strong base in Michigan, Pennsylvania, and Wisconsin, which Democrats call the “blue wall” states. Fain said, “We can elect Kamala Harris, who will fight with us in our fight against corporate greed, or we…

A $78 billion tax bill is likely to fail an important vote in the Senate this afternoon. This could mean that a lot of business and family-friendly provisions won’t be dealt with until next year. The package was put forward by Sen. Ron Wyden, chair of the Senate Finance Committee, and Rep. Jason Smith, chair of the House Ways and Means Committee. It would increase the child tax credit and the low-income housing tax credit, bring back tax breaks for businesses that invest in research and development, stop tax fraud, improve relations between the U.S. and Taiwan, and help people…

WW International Inc. (also known as WeightWatchers) shares fell even more to a record low after the weight management company announced disappointing results for the second quarter and lowered its outlook for the full year. The company also said it was going to restructure, which will mean “the elimination of certain positions and the termination of employment for certain employees worldwide.” In the second part of the year, the company plans to pay between $12 million and $15 million to restructure. CEO Sima Sistani said, “The world is changing quickly, and we are taking decisive actions to navigate through this…

Pros Cons What’s new? The all-electric 2025 Volvo EX30 is a great new subcompact SUV that has a long range, great speed, a great price, and a design that goes on and on. The price starts at $34,950. There aren’t many electric cars that cost less than $35,000 to buy, and even fewer that are luxury. Welcome to the new Volvo EX30. It has a range of up to 275 miles, and even the fast two-motor units are only rated for 265 miles. It also charges pretty quickly. This car is a Volvo all the way through. It looks good…

Prices are going down at stores like McDonald’s Corp., in commodity markets, and for durable goods, which is a sign of downward trends, according to Yardeni Research. The number of Big Macs bought at McDonald’s has dropped around the world, according to a note from July 29 from Yardeni, a financial and economic research company. The big fast-food chain MCD -0.63% just reported “its first worldwide sales decline in 13 quarters.” At the same time, the note says, it is expanding its “$5 meal deal.” After a big rise during the COVID-19 pandemic, inflation has slowed down a lot. This…