Warren Buffett Watch
- Warren Buffett: Stocks Will Outperform Gold and Bonds .. and They're Safer 'By Far'
- 'Buffett Rule' Introduced in Senate But Passage Unlikely Amid GOP Opposition
- Warren Buffett Matching Illinois Teen's $300 Deficit Donation
- Warren Buffett Defends His Secretary From 'Ridiculous' Attacks
- Does Warren Buffett's Secretary Really Make Over $200,000?
- Warren Buffett's Secretary 'Excited' About State of the Union Role
- Warren Buffett Offers Millions in Deficit Donations, If ...
- Warren Buffett Sings and Plays Ukulele for Chinese New Year
- Warren Buffett Partied With Jay-Z Last Night
- 'Impressed' and 'Delighted' Warren Buffett Matches GOP Rep's Deficit Donations
RSS FEED
MOST SHARED
- Stocks Looking Past Europe for a New Driver
- Canaccord, China's Eximbank Plan $1 Billion Resource Fund
- Jobs You Can Do Forever
- DBS Fourth-Quarter Profit Rises 8%; Tops Forecast
- Chart Patterns Suggest Pullback at Hand
- Australia's Newcrest First-Half Underlying Profit Up 17%
- Steelers' Antonio Brown Spends Super Bowl Week with Twitter Fan Turned BFF
- Mulling Buffett's Stock Advice? Get in With REITs: Fund Managers
- UPDATE: Massive Trend Just Getting Underway in Financial Services: Finerman
- LinkedIn Earnings Bode Well for Hiring and Social Media
- Mulling Buffett's Stock Advice? Get in With REITs: Fund Managers
- LinkedIn Earnings Bode Well for Hiring and Social Media
- Top Five Mistakes to Avoid in Online Dating
- Victor Cruz ‘Understands’ Gisele's Super Bowl Frustrations
- Tamminen: The United States of India
- Unusual Volume: Taleo Jumps After Oracle's $1.9 Billion Offer
- Warren Buffett: Stocks Will Outperform Gold and Bonds .. and They're Safer 'By Far'
- So Now You Can’t Give Microsoft Away?
- Robo-Deal Is All About Lowering Mortgage Principal
- The Secret Lives of Traders—Seeking the Next Hot Thing
- Markets Finally Get Greek Deal —So Where's the Rally?
- Warren Buffett: Stocks Will Outperform Gold and Bonds
- Greece Deal Fails to Convince, EU Demands More
- 'Mortgage Deal from Hell' Hurts Sound Borrowers: Bove
- Clint Eastwood: Super Bowl Ad Endorses No One
- Zynga, Hasbro Partner to Make Toys, Games
- Home Builder Optimism Up, Industry Expert Says
- A Wealthy Backer Likes the Odds on Santorum
Warren Buffett Picks Up Constellation Energy At Bargain Price
Text Size 
Executive Producer
 |
Gail Burton / AP The Constellation Energy building in Baltimore. (2005 file photo) |
MidAmerican Energy Holdings is paying just $26.50 a share. Constellation's stock closed at $58.37 last Friday and finished 2007 at $102.53.
Constellation's stock has plunged in recent days after S&P put its debt rating on watch amid worries about the liquidity needs of its commodities trading business.
Current price: [CEG
Loading...
()
]
In the news release, Buffett is quoted as saying, "MidAmerican has been a wonderful steward of its energy assets and the acquisition of Constellation Energy, when completed, will prove beneficial to all constituents."
UPDATE: MidAmerican Chairman David Sokol was interviewed this morning by CNBC's Becky Quick. The video clip is on the left.
It appears Buffett is indeed taking advantage of the recent financial turmoil to pick up what he would call a good company at a great price. We assume he sees something in Constellation that he didn't see in AIG [AIG
Loading...
()
], since he declined to come to that company's rescue earlier this week after it suffered a similar, but more extreme, battering on Wall Street.
Current Berkshire stock prices:
Class A: [US;BRK.A
Loading...
()
]
Class B: [US;BRK.B
Loading...
()
]
Questions? Comments? Email me at
Data is a real-time snapshot *Data is delayed at least 15 minutes
