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Warren Buffett Throws in the Towel on His Newspaper Empire

(Bloomberg) — Warren Buffett is getting out of the newspaper business.Berkshire Hathaway Inc. agreed to sell its BH Media unit and its 30 daily newspapers to Lee Enterprises Inc., which owns papers including the St. Louis Post-Dispatch, for $140 million in cash. Lee has been managing the papers for Buffett’s company since 2018, and Berkshire is loaning Lee the money for the purchase.Buffett, who got a job delivering papers as a teenager and invested in the industry to capitalize on its one-time local advertising stronghold, lamented last year that most newspapers are “toast.” BH Media, which owns papers across the …read more […]

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Apple's iPhone strength is back and analysts say it is here to stay

At least 15 brokerages raised their price targets on the company’s stock on Wednesday, with D.A. Davidson setting the most bullish price target of $385, well above the stock’s current median price target of $325. “We see Apple’s December 2019 quarter as a microcosm for its calendar 2020 performance, with the iPhone, once again, returning to the front and center,” D.A. Davidson analyst Tom Forte said. Forte attributed part of the iPhone bounce to Apple’s new credit initiatives, which enable consumers to purchase a phone and pay for it in monthly installments without paying interest. …read more […]

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L Brands CEO Wexner in Talks to Step Down, Break Up Company

(Bloomberg) — Les Wexner, the longest serving chief executive officer on the S&P 500 Index, is in talks to break up Victoria’s Secret owner L Brands Inc. and potentially step down from his role leading the company, according to a person familiar with the matter.Shares of L Brands surged as much as 15%, the most in eight months, in New York trading Wednesday. The Wall Street Journal reported earlier that founder Wexner may step down as CEO and sell Victoria’s Secret. Wexner may stay on as chairman, the Journal reported.The stock has posted four consecutive annual declines in value, including …read more […]

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McDonald's quarterly sales growth, profit beat Wall Street estimates

Over the past few years, McDonald’s has focused on improving dining experience by bringing technology to stores and shoring up delivery services, while also adding new burgers, beverages and breakfast foods to its menus to lure customers. Chief Executive Officer Chris Kempczinski, who took charge in November after the company’s previous chief was dismissed, said the annual global comparable sales growth of 5.9% was the chain’s highest in more than 10 years. As a part of its former CEO’s vision, the company began modernizing stores and even bought two smaller technology firms that focus on digitizing stores and …read more […]

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GE Jumps After Cash-Flow Outlook Bolsters CEO’s Turnaround Drive

(Bloomberg) — General Electric Co. jumped after the company said cash from its manufacturing operations will probably rise in 2020, supporting Chief Executive Officer Larry Culp’s effort to rescue the iconic maker of jet engines and power equipment.Industrial free cash flow, a closely watched metric that’s viewed as an indicator of earnings potential, is projected to climb to as much as $4 billion this year from $2.32 billion in 2019, GE said in a statement Wednesday as it reported results. Wall Street had been expecting $2.2 billion for this year.“We are solidifying our financial position,” Culp said in the statement.The …read more […]

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AT&T Exceeds Profit Estimates Despite Record TV Customer Losses

(Bloomberg) — AT&T Inc. topped earnings estimates as cost cuts helped offset steep TV-subscriber losses and higher spending on its media business, a positive sign as the company tries to mend its balance sheet and turn attention to the launch of its HBO Max streaming service.Fourth-quarter earnings excluding one-time items were 89 cents a share. Analysts had predicted 87 cents, according to estimates compiled by Bloomberg. The company, which operates DirecTV, the largest U.S. TV service, lost 1.2 million subscribers, more than the 640,000 decline analysts expected.See more details.Key InsightsThe record annual loss of 4.1 million U.S. TV subscribers that …read more […]

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3 Nanotechnology Stocks to Watch in 2020

When one thinks of technology, one may think of things like televisions. iPhones. Computers. And the internet. One may even be thinking about today’s most innovative technologies like blockchain and artificial intelligence. One may be less inclined to be thinking about matter working on an atomic level. But for those keeping an eye on nanotechnology stocks, atomic level matter is precisely what the tech stock investor has in mind.
Nanoetchnology is a tech innovation conducted at the nanoscale. The nanoscale is between one to 100 nanometers. To think about this in more concrete terms, a nanometer is 1/90,000 the width of …read more […]

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Apple Holiday Results Top Estimates on Rebounding iPhone Demand

(Bloomberg) — Apple Inc. reported holiday-quarter revenue that beat Wall Street expectations on rebounding iPhone demand and surging sales of wearable devices. Shares jumped in extended trading, setting up the stock to open at a record.The results are a remarkable comeback from a year ago, when the most valuable technology company missed its own targets.A sales forecast for the current quarter also exceeded analysts’ projections, pushing Apple’s stock about 2.1% higher in extended trading. Services revenue came in slightly below expectations.The Cupertino, California-based company reported $91.8 billion in revenue for the fiscal first quarter, up 9% from a year earlier. …read more […]