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Warren Buffett's Berkshire Hathaway will keep its top-level AAA rating from Standard & Poor's for the moment, but the ratings agency says that could change. S&P has lowered its outlook on Berkshire to "negative" from "stable" and indicated it may downgrade the company's rating by one notch over the next twelve months. Is Moody's next?
Warren Buffett's warrants to buy over 43 million shares of Goldman Sachs at $115 each are almost back "in the money" as the firm's stock more than doubles in recent months.
Shares of Warren Buffett's Berkshire Hathaway (Class A) are back at $90,000 tonight after rallying more then 28 percent over the past 12 trading days. The stock advanced 6.4 percent today (Monday), or $5426 each, to close at exactly $90,000.00 in New York trading.
Stocks went four for four Friday in a dramatic win that delivered stocks their best week since November.
Today's headlines along the lines of Warren Buffett Takes Home $491,000 from Berkshire might cause a moment of confusion for long-time Buffett watchers. After all, Buffett's annual salary has remained unchanged at $100,000 for a quarter of a century, and he has told Berkshire's Compensation Committee that "he would not expect or desire it to increase in the future." The new factor this year: security.
Berkshire Hathaway has lost its AAA credit rating from Fitch, but it doesn't look like the change is due to any recent 'mistakes' by Warren Buffett and his holding company. Almost at the top of its news release on the one-notch downgrade and negative outlook, Fitch says the move is part of a "broader review of insurance and financial services company ratings" due to the "current stressful economic environment."
Stocks opened slightly higher Friday amid some much-needed good news from banks.
Futures pointed to a fourth straight session of gains Friday amid some much-needed good news from banks.
Warren Buffett says it's more likely Berkshire Hathaway will make a domestic acquisition before it buys a foreign company, because there are more opportunities opening up in the U.S. and fewer competing buyers bidding up prices. Buffett tells Bloomberg Television, "The way things are going, there's a lot of things that may be happening in the United States."
Thursday: Confessed mega-swindler Bernie Madoff pleaded guilty to fraud. Warren Buffett slipped from the "World's Richest Billionaire" slot. Apple flew in the face of grim retail prognostication and said it'd preview new iPhone software next week. It was reported that U.S. mortgage rates slipped last week; and Standard & Poor's downgraded General Electric* from its triple-A rating to AA-plus -- but GE's shares soared on a better-than-expected outlook. CNBC heard from experts who warned that AIG is a "boil" that "needs to be lanced" and called a market bottom — of sorts.
Technology stocks helped investors survive the market plunge, and techs are likely to continue to help, according to Holland & Co.'s Mike Holland, but more is needed. "The thing can't keep going without the financials," he told CNBC. "The healthy financials — if that's not an oxymoron — are the place you want to be."
Standard & Poor's downgraded General Electric, lowering its rating to AA-plus with a stable outlook, down from the top-tier, AAA credit rating it enjoyed. Here are some sobering facts about GE and other big stocks...
Warren Buffett has lost the title of "World's Richest Billionaire" along with $25 billion dollars in the wake of the global financial crisis. The 2009 rankings, just released by Forbes magazine, put Microsoft founder, and Buffett bridge partner, Bill Gates in the top position with an estimated wealth of $40 billion. That's a drop of $18 billion from last year's $58 billion. Buffett is number two, with $37 billion, a decline of $25 billion, or just over 40 percent.
Warren Buffett has certainly lost billions of dollars over the past year, but has he lost his title of "World's Richest Billionaire?" We'll find out when the 2009 edition of the widely-followed Forbes ranking of global wealth is released at 6p ET tonight (Wednesday).
Warren Buffett's three-hour appearance on CNBC's Squawk Box Monday morning generated headlines, moved bank stocks, and even caught the attention of the White House. Now you can download a PDF of the complete transcript.
The White House was watching Warren Buffett this morning on CNBC. Today Press Secretary Robert Gibbs responded to Buffett's comment that both parties, but especially the Democrats, are trying to use the economic crisis to push partisan goals.
Warren Buffett's bullish comments on banks, especially Wells Fargo and U.S. Bancorp, during this morning' Squawk Box on CNBC helped boost the financial stocks in Berkshire Hathaway's portfolio.
Monday: Warren Buffett told CNBC the U.S. economy has "fallen off a cliff." Prof. Nouriel Roubini, who predicted the current crisis, said the U.S. recession could last up to 36 months. But some M&A activity was seen: Dow Chemical and Rohm & Haas announced a deal; and Roche and Genentech are reportedly close to their own agreement. CNBC heard from experts who said steady growth companies are the way to invest now; and that the government rescue plan is going to create the first signs of recovery.
This is part seven of the preliminary transcript and video clips of Warren Buffett's appearances on CNBC's Squawk Box on Monday, March 9, 2009.
This is part six of the preliminary transcript and video clips of Warren Buffett's appearances on CNBC's Squawk Box on Monday, March 9, 2009.