5 Things to Know Before Berkshire Hathaway's Annual Meeting

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12:05 p.m. Today - By Barbara Kollmeyer
What a Brexit deal would mean for U.S. stocks and global investors An ‘amicable divorce’ is a relief, but disruption still lies aheadShould investors outside of Britain get excited?
11:39 a.m. Today - By Sunny Oh
Treasury yields come off highs as investors raise questions over tentative Brexit deal Doubts linger around likelihood of Brexit deal ratificationU.S. Treasury yields fell from their intra-session highs Thursday as Brexit deal comes under question
11:17 a.m. Today - Associated Press
See what’s in the GM contract with union workers: Pay raises in exchange for some factory closings Details were posted to the United Auto Workers websiteDetails were posted to the United Auto Workers website.
11:15 a.m. Today - By Ciara Linnane
One year on, Canada’s legal cannabis market is down but not out The rollout of legal weed has been rocky but analysts say the legalization train will keep trundling along Canadian cannabis companies should be celebrating the first anniversary of legalized weed on Thursday, but the party atmosphere has been tainted by a sharp three-month selloff that has seen many companies surrender half their value or more.
11:14 a.m. Today -
Beyond Meat Stock Is Falling Because Serious Competition Is Closing In The alternative-meat industry could be entering a new phase where bullish Beyond Meat investors have to digest wins from new rivals.
10:00 a.m. Today - By Myra P. Saefong
Gold ends at highest price in a week as investors weigh tentative Brexit pact Weak U.S. economic data support haven buyingGold prices rise Thursday, settling at their highest in a week, after European Union and U.K. reached a preliminary Brexit deal. Worries that a deal may not pass a weekend vote in the British parliament and signs of a weakness in the U.S. economy provide support for the haven metal.
6:28 a.m. Today - By Barbara Kollmeyer
These charts tell us the bull market has a couple of years left to run Critical information for the U.S. trading dayOur chart and call of the day from Ciovacco Capital Management’s Chris Ciovacco looks at a batch of historical charts that are pointing to more gains for stocks. That is, if those animal spirits can return.
6:09 a.m. Today - By Sunny Oh
The yield curve is no longer inverted. But some still see an impending recession The 3-month/10-year yield curve is at its steepest since MayParticipants who see the recent positive slope of the yield curve as a good new for the economy and pitted against those who fear it signals a hastening recession
5:45 a.m. Today - By Meera Jagannathan
Women have made gains in the C-suite, but they still face one critical ‘broken rung’ on the corporate ladder Just 72 women for every 100 men are promoted and hired as managers, a new study saysJust 72 women for every 100 men are promoted and hired as managers, a new study says.
5:34 a.m. Today - By Robert Schroeder
Kudlow says U.S., China have come further than ever on trade dealWhite House economic adviser Larry Kudlow said Thursday the U.S. and China have come "further than we ever have before" on a trade deal. Speaking during a CNBC interview, Kudlow said progress had been made on financial services, currency and other areas and that he saw momentum to finish an agreement. Separately, Kudlow predicted disagreements between House Speaker Nancy Pelosi and President Donald Trump wouldn't derail the proposed U.S.-Mexico-Canada trade agreement and that it would likely pass before Thanksgiving. Trump, Pelosi and other members of Congress had a contentious meeting Wednesday over Syria policy.
4:40 a.m. Today - By Ciara Linnane
Cannabis sector falls as Aphria surrenders gains, Aurora tipped to be long-term winner Aurora Cannabis could be 1 of 3 major cannabis companies in a decade if it survives its current challenges, says investor siteAphria Inc. stock fell 8% Wednesday to pace decliners in the cannabis sector, a day after it reported earnings for its fiscal first quarter that showed a profit that was mostly due to a change in its stock price and shift in its stake in another company.
3:43 a.m. Today - By Max A. Cherney
UPDATE: Cronos shares surge roughly 33% in after hoursShares of Cronos Group Inc. rampaged in the extended session Wednesday, gaining as much as 41.5% as of 6:22 p.m. Eastern time on heavy volume, before dropping to a 33% gain at 6:45 p.m. Eastern time. It was not immediately clear why the stock surged in the extended session but two block trades totaling roughly 1.2 million shares crossed at 5:09 p.m. Eastern time at a price of $8.40 a share. If Cronos shares hold on to the gains, the late Wednesday move will be the second largest in the company's history and the largest since the company began trading on the Nasdaq. Previously other cannabis companies' stocks, such as CannTrust Holdings Inc. have notched double-digit gains because an exchange traded fund has re-balanced its portfolio after significant changes to the market price. Cronos Group stock closed up roughly 1% to $8.40 during the regular session. The stock was up 14% in premarket trade Thursday.
3:18 a.m. Today - By Jon Swartz
Netflix stock spikes after subscriber growth bounces back, but executives admit competition will hurt the rest of the year Streaming titan beats expectations with 6.77 million new paying customers, but now expects a decline in growth for the fourth quarter and full yearNetflix Inc. announced the net addition of 6.77 million paying subscribers in its third-quarter financial results Wednesday afternoon, an about-face from the previous quarter, when it came up frighteningly short.
2:00 a.m. Today -
Wendy’s, Brunswick, Penske Are Raising Their Dividends Brunswick will raise its quarterly disbursement to 24 cents a share. Penske declared a quarterly dividend of 41 cents and Wendy’s plans to pay 12 cents a share quarterly.
2:26 p.m. Oct. 16, 2019 - By Meera Jagannathan
Americans are not big fans of universal basic income for families, but these two G-7 countries feel very differently Democratic candidate Andrew Yang has said he wants to give $1,000 a month to every American adultDemocratic candidate Andrew Yang has said he wants to give $1,000 to every American adult.
12:01 p.m. Oct. 16, 2019 - By Sunny Oh
Stocks finish slightly lower after retail sales drop draws questions over consumers' healthU.S. stocks ended lower after the first drop in retail sales figures in seven months raised fears that weakness in the U.S. economy was broadening beyond the manufacturing sector. The S&P 500 fell 0.2% to finish near 2,990. The Dow Jones Industrial Average shed 21 points, or 0.1%, to end around 27,004, based on preliminary numbers. The Nasdaq Composite was down 0.3% to end near 8,124. Retail sales fell 0.3% in September, well below the 0.3% increase forecast from economists polled by MarketWatch. The prospect of a U.S.-China trade deal also came under doubt after China threatened to retaliate over bills moving through Congress backing pro-democracy protesters in Hong Kong. This comes as earnings season kicked off this week, with corporate results mostly topping analysts' expectations so far. Shares of Bank of America Corp. rose 2% after the company reported third-quarter earnings that beat Wall Street expectations.
11:41 a.m. Oct. 16, 2019 - By Sunny Oh
Treasury yields stay depressed after retail sales fall U.S. retail sales fall 0.3%U.S. Treasury yields fell Wednesday after a lackluster retail sales data suggest weakness in manufacturing may be spilling over into other areas of the economy.
11:14 a.m. Oct. 16, 2019 - By Tomi Kilgore
Air Canada removes 737 Max planes from its schedule until Feb. 14Air Canada said Wednesday it has removed Boeing Co.'s 737 Max aircraft from its flight schedules until Feb. 14, 2020. The air carrier had previously said the planes, which have been grounded by regulators since March for safety concerns, following two deadly crashes, would be grounded . "We are taking this prudent step as a result of the ongoing regulatory uncertainty about the timing of the aircraft returning to service," said Chief Commercial Officer Lucie Guillemette. "The extension will give us scheduling predictability through the implementation of the first phase of our new reservation system and the required stability as we prepare the second phase of the system roll-out, introducing it into the airport environment." Last week, American Airlines Group Inc. said the 737 Max planes would , while United Airlines Holdings Inc. has previously said it the planes were on its schedule from December. Air Canada's stock shed 0.7% in afternoon trading, while Boeing's stock rose 0.3%, the NYSE Arca Airline Index inched up less than 0.1% and the Dow Jones Industrial Average has slipped 15 points, or 0.1%.
11:13 a.m. Oct. 16, 2019 - By Rachel Koning Beals
Another insurer will dump coal and oil sands Axis Capital, Chubb and a handful of European insurers embrace a business shift to renewable energy insuranceAxis Capital joins Chubb in giving up profit potential from coal and oil sands, a step it says supports the transition to a low-carbon economy.
Air Canada removes 737 Max from its schedule until Feb. 14, 2020
10:58 a.m. Oct. 16, 2019
10:27 a.m. Oct. 16, 2019 - By Nicole Lyn Pesce
Inspired by AOC, Megan Rapinoe and Greta Thunberg? You should be, according to this list ‘What would the future look like if it were driven by women?’The BBC’s 100 most influential women list asks, “What would the future look like if it were driven by women?”
9:54 a.m. Oct. 16, 2019 - By Brian Livingston
Marijuana stocks, after declines of over 50%, are now only ludicrously overpriced The pot bubble has burst, but many companies’ shares are still trading at unjustified levelsThe pot bubble has burst, but many companies’ shares are still trading at unjustified levels, says Brian Livingston.
7:41 a.m. Oct. 16, 2019 - By Nicole Lyn Pesce
The U.S. is nowhere near the top of this list of the world’s most reputable countries Scandinavian nations top the best places in the Reputation Institute’s rankings. Scandinavian nations top the best places in the Reputation Institute’s rankings.
6:45 a.m. Oct. 16, 2019 - By Ciara Linnane
Canadian cannabis company Flowr should benefit from its focus on Europe: MKM MKM Partners analyst Bill Kirk initiated coverage of Canadian cannabis company The Flowr Corp. on Wednesday with a buy rating and said the company stands out from the crowd in Canada thanks to its focus on Europe. "We believe growing at an EU GMP certified facility in Portugal (expected before year-end) will put Flowr at an advantage to those trying to export from Canada to Europe, and even the growers in South America," Kirk wrote in a note to clients. Portugal offers a better climate for cannabis growing than Canada, and has a cheaper labor force and lower transportation costs, he wrote. The analyst estimates that Toronto-based Flowr can save 50% of costs by operating in Portugal and possibly even achieve parity with growers in Columbia. "This should give Flowr a distinct advantage to capture share in the EU, which presents an opportunity more than 10x the size of Canada. Within Canada, Flowr is focused on high-end product, which offers a non-commoditized niche opportunity," said Kirk. He assigned the stock a C$4.00 price target that about double its current trading level. Germany, France, Spain, the U.Kl and italy are likely bigger markets than Canada, and the overall European market will likely be at least 10 times the size of the current Canadian market. However, regulatory and legal barriers remain as Europe has been slow to develop a framework for cannabis. Flowr's U.S.-listed shares were up about 1% but have fallen 48% in 2019, while the ETFMG Alternative Harvest ETF has fallen 22% and the S&P 500 has gained 16%.
6:09 a.m. Oct. 16, 2019 - By Tonya Garcia
American Eagle Outfitters to hire 10,000 part-time seasonal workers at jobs event, down from 22,000 last yearAmerican Eagle Outfitters Inc. said Wednesday that it plans to hire 10,000 part-time seasonal workers for both its American Eagle and Aerie banners at a jobs event taking place Oct. 20. Hiring will span the U.S and Canada. Last year, the company brought on at a jobs event. Workers will be eligible for a 40% merchandise discount. American Eagle stock has tumbled 30.6% over the past year while the S&P 500 index has gained 6.3%.
5:45 a.m. Oct. 16, 2019 - By Chris Matthews
Bank of America declares ‘the end of the 60-40’ standard portfolio There are now 1,100 global stocks that are providing dividends above the average yield of global government bondsBank of America strategists say there are reasons to increasingly doubt the safety of bonds.
5:44 a.m. Oct. 16, 2019 - By Sunny Oh
Funding market strains resurface as repo rates stay elevatedStrains in short-term lending markets popped up again on Wednesday as the cost of borrowing funds overnight in return for high-quality collateral, or the repo rate, shot up on Wednesday. Hedge funds and banks use the repo market to finance their balance sheets and trading positions. The overnight repo rate spiked as high as 2.26%, according to one estimate. This compared with the effective fed funds rate, which stood at 1.90% on Oct. 15. The repo rate usually closely tracks the central bank's benchmark interest rate as they both are considered sources of short-term borrowing. Repurchasing agreements of $75 billion by the Federal Reserve was fully taken up for the first time since Sept. 25. Since last month, the central bank has looked to relieve pressures in funding markets by offering regular injections of liquidity and announcing monthly purchases of $60 billion Treasury bills at least through the second quarter.
4:41 a.m. Oct. 16, 2019 - By Dieter Holger
More large-scale investors are skittish about an ESG strategy at the expense of returns: survey There are regional differences and an education gap when it comes to responsible investing, Royal Bank of Canada saysSome institutional investors remain increasingly unconvinced that responsible investing will boost their returns.
4:22 a.m. Oct. 16, 2019 - By Greg Robb
IMF says global economy to grow at slowest pace since 2008 financial crisis Global recession could well materialize, IMF warns The IMF has grown even more pessimistic about the global economy, according to the latest World Economic Outlook, published on Tuesday.
3:21 a.m. Oct. 16, 2019 - By Max A. Cherney
Aphria profit didn’t come from selling marijuana Canadian cannabis producer wouldn’t have been profitable without paper gains from sliding stock price, investment changeAphria Inc.’s profits are about the paper, not the pot.
2:39 a.m. Oct. 16, 2019 - By Tomi Kilgore
Hexo to sell Original Stash cannabis flower at 'black market prices'Hexo Corp. unveiled Wednesday its value cannabis brand Original Stash, which the Canada-based company said is priced at "black market prices." The company said adult-use consumers can buy 28 grams, or one ounce, of Original flash dried flower for C$125.70 ($95.11) including taxes, or the equivalent of C$4.49 a gram ($3.40). The first Original Stash product is OS.210, offered as a hybrid sativa dried flower blend at 12% to 18% THC, which will be available in retail stores on Oct. 17. "Our aim with Original Stash is to disrupt the illicit market, educate consumers about the value of a regulated and tested product, and drive them to purchase their cannabis legally," said Hexo Chief Executive Sebastien St-Louis. Hexo's stock has tumbled 49% over the past three months, while the ETFMG Alternative Harvest ETF has tumbled 35% and the S&P 500 has eased 0.3%.
11:25 p.m. Oct. 15, 2019 - By Barbara Kollmeyer
China vows ‘strong countermeasures’ in wake of U.S. bill supporting Hong Kong protesters Beijing accuses U.S. of ‘stark double standard’China’s Foreign Ministry spokesperson has warned of “strong countermeasures” against the U.S. that if it passes three bills aimed at supporting Hong Kong protesters.
4:02 p.m. Oct. 15, 2019 - By Joy Wiltermuth
WeWork bonds sink as bankers circulate rescue financing proposals Borrowing to pay your own debts is a ‘terrible sign’Debt investors are taking a more pessimistic view of WeWork after bankers circulated a potential $5 billion rescue financing package for the embattled office-share venture to help it stave off a cash-flow crisis
2:54 p.m. Oct. 15, 2019 - By Tanner Brown
U.S. struggles to convince allies to ban Huawei Germany follows India in refusing to rule out allowing the Chinese telecom giant to help build its 5G networkGermany follows India in refusing to rule out allowing the Chinese telecom giant to help build its 5G network.
11:46 a.m. Oct. 15, 2019 - By Sunny Oh
10-year Treasury yield hits more than three-week high on prospect of Brexit deal IMF sees global economic growth falling to 3% this year, the slowest pace since the 2008 financial crisisU.S. Treasury prices fall Tuesday, pushing yields higher, after at least a truce in the U.S. - China trade war last Friday and as hopes for a Brexit deal rise
9:53 a.m. Oct. 15, 2019 - By Ciara Linnane
Canopy Growth's sale of AusCann stake shows a focus shift to core assets and profitability: Jefferies Canopy Growth Corp.'s announcement earlier Tuesday that it has sold its 13.2% stake in Australian producer AusCann for proceeds of C$6 million ($4.8 million) is a sign that the Canadian company is starting to clear its balance sheet to focus more on core assets and attaining profitability, according to Jefferies. Analysts Owen Bennett and Ryan Tomkins said the increased focus ins welcome, but "we do wonder how much more cleaning up may have to come." The deal is immaterial to either cash of international positioning, they wrote in a note to clients. Canopy had C$2.3 billion of cash as of last quarter, and the Australian market is expected to be just 1% of the Canadian market next year. Canopy Chief Executive Mark Zekulin told the analysts at a July meeting that with all the M&A deals Canopy had conducted, the complexity in the business had become significant. "With Bruce Linton (the old CEO) often saying in interviews past a key part of his and Canopy's strategy was "go into a market, spend and dominate, and then do the same again", we wonder how many assets that have been acquired are indeed non core, especially as the cash Constellation gave Canopy often meant money was no object," they wrote, referring to the $4 billion investment made last year by the brewer of Corona beer. "Further, we wonder how much Canopy would get for these assets when it sells them?" They noted that Hiku, an all-stock deal that closed in September at C$600 million, has still produced minimal revenue. U.S.-listed shares of Canopy were up 6.6% Tuesday, but have fallen 25% in 2019, while the ETFMG Alternative Harvest ETF has fallen 22%, and the S&P 500 has gained about 20%.
8:30 a.m. Oct. 15, 2019 - By Shawn Langlois
One look at this and you’ll get why Warren Buffett sits on a record cash pileAt the midpoint of the year, Warren Buffett’s Berkshire Hathaway was sitting on a record cash pile of $122 billion, leading one longtime shareholder to dump his position because, as he recently explained, “thumb-sucking has not cut the Heinz mustard during the Great Bull Market.” So why IS Buffett so cash heavy?
8:07 a.m. Oct. 15, 2019 -
5 Things to Know Before Berkshire Hathaway's Annual MeetingInvestors are still waiting for Warren Buffett to name a successor and find a way to boost Berkshire's lagging stock.
6:15 a.m. Oct. 15, 2019 -
The Path to 100% Renewables Looks More Achievable, New Analysis Shows Investors are bidding up renewable energy funds, and for good reason. Even countries without ample sun, wind, or water will depend increasingly on renewable fuels in the next 30 years.
6:09 a.m. Oct. 15, 2019 - By Barbara Kollmeyer
‘The new normal’ — no fix to the trade war, says Bank of America chart Only 36% of fund managers surveyed expect a resolutionThe Bank of America Merrill Lynch’s monthly fund manager survey released Tuesday showed that 43% of those surveyed believe the U.S.-China trade war “is the new normal.”
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