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Buffett’s Peak Quarter Brings New Records on Profit and Cash

November 2, 2019 admin Comments Off on Buffett’s Peak Quarter Brings New Records on Profit and Cash

(Bloomberg) — Warren Buffett’s third quarter in many ways marked a new peak.To start, Berkshire Hathaway Inc.’s operating profit topped its best levels. That was lifted by record earnings from BNSF railroad, his biggest-ever acquisition. Gains on his stock bets pushed the conglomerate’s 2019 net income to a staggering $52 billion, making Berkshire the most profitable public company in the world.And the legendary investor now has more cash than ever to play with: $128 billion. That’s the record which has Berkshire’s stock languishing as investors grapple with a question amid all the superlatives: What comes next?“Berkshire has sort of an …read more […]

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Berkshire’s Record Quarter Got a Lift From Kraft

November 2, 2019 admin Comments Off on Berkshire’s Record Quarter Got a Lift From Kraft

(Bloomberg) — For Berkshire Hathaway Inc., profits from its stake in Kraft Heinz Co. were better late than never.Almost a third of the jump in Berkshire’s third-quarter earnings came from finally recording its share of the packaged food giant’s 2019 results. A $467 million gain replaced what had been blank spots in the past two quarters as Kraft Heinz delayed reporting first-half results amid regulatory probes.Kraft Heinz has been a black mark for Warren Buffett over the past year, as he took a $2.7 billion writedown in 2018 results and conceded he and 3G Capital paid too much in the …read more […]

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Pop! And Dropped: Funko Plummets On Earnings Miss, But Analysts Stay Bullish

November 2, 2019 admin Comments Off on Pop! And Dropped: Funko Plummets On Earnings Miss, But Analysts Stay Bullish

Funko Inc (NASDAQ: FNKO) shares fell more than 15% Friday after reporting a third-quarter earnings miss and guidance that came in below Street estimates. Funko reported quarterly earnings of 27 cents per share, which missed the consensus estimate of 32 cents. The company reported quarterly sales of $223.3 million, which beat the consensus estimate of $220.44 million. …read more […]