The president abruptly walked out of a meeting Wednesday, saying he would not negotiate with Democrats while they continue to investigate him.Politicsread more
Ireland's privacy watchdog, which leads supervision of Google in the EU, launched an inquiry into the firm's online advertising practices.Technologyread more
These are the stocks posting the largest moves midday.Market Insiderread more
Americans in certain areas of the country have significantly higher average credit scores than others. Experian's annual State of Credit report shows the average score in each...Spendread more
Morgan Stanley caused a stir with its "bear case" scenario of $10. Now, Citi is getting in on the act.Investingread more
Target's CEO thinks the retail industry is shaking out to show clear winners and losers. Those companies that are investing in stores and online are winners, he said.Retailread more
Some analysts were concerned that it's taking longer for Pure Storage to sell as the company aims to win larger deals.Technologyread more
Warren Buffett lost some serious money on Thursday ... at least on paper.
With Apple's 9 percent drop in early trading Thursday, Buffett's Berkshire Hathaway is looking to lose more than $3.8 billion on its position in the tech company.
Berkshire owns 252.5 million shares of Apple, which at the market close on Wednesday were trading at $157.92 per share, according to FactSet. When the market closed, Buffett's position was worth $39.87 billion.
Futures prices tanked soon after CEO Tim Cook announced Wednesday afternoon that Apple is lowering its fiscal first-quarter guidance, blaming a range of variety of factors including a weakening economy in China and lower-than-expected iPhone revenue.
By Thursday morning, the stock fallen about 9 percent or about $15 per share.
The drop brings Berkshire's holdings to about $36.1 billion, and a $3.76 billion loss.
In the first quarter of 2018, Buffett's Berkshire bought 75 million shares of Apple. That added to an existing 165.3 million shares Berkshire already owned at the end of 2017. He told CNBC at the time that he clearly likes Apple, and "we buy them to hold."
"We bought about 5 percent of the company. I'd love to own 100 percent of it. ... We like very much the economics of their activities. We like very much the management and the way they think," Buffett told CNBC's "Squawk Box. "
Berkshire did not return a call for comment.
Buffett first announced Berkshire was buying Apple in February 2017 despite his usual aversion to tech stocks. On Feb. 1, 2017, Apple's shares were around $129 so the Oracle of Omaha is likely still in the green on the first portion of stock he bought. But Berkshire added to that stake significantly the last two years at likely higher prices.
Berkshire's other major bets aren't holding up much better.
In the financial sector Bank of America, which makes up 11 percent of Berkshire's portfolio, is down 17 percent year over year while Wells Fargo is down 24 percent. Those are the holding company's two largest positions behind Apple. J.P. Morgan meanwhile, which makes up 1.9 percent of the portfolio, is down roughly 9.5 percent in the same period.