Author: News Room

Stocks traded mixed Tuesday as Wall Street prepared for the release of inflation data at both the consumer and producer levels. These stocks made moves:  Used-car retailer CarMax (ticker: KMX) rose 10% after posting better-than-expected fiscal fourth-quarter earnings. Coinbase (COIN) rose 6.1%, MicroStrategy (MSTR) gained 6.3%, and Marathon Digital (MARA) was up 12% after Bitcoin, the world’s largest cryptocurrency, traded above $30,000 for the first time in 10 months. Moderna (MRNA) fell 3.1% after the company said an independent data board deemed it too soon “to declare early success” in one of the biotech’s flu vaccine trials because of a lack…

Shares of Berkshire Hathaway Inc. Cl B BRK.B inched 0.35% higher to $313.70 Tuesday, on what proved to be an all-around mixed trading session for the stock market, with the S&P 500 Index SPX remaining mostly unchanged at 4,108.94 and the Dow Jones Industrial Average DJIA rising 0.29% to 33,684.79. This was the stock’s fourth consecutive day of gains. Berkshire Hathaway Inc. Cl B closed $40.30 short of its 52-week high ($354.00), which the company reached on April 12th. The stock demonstrated a mixed performance when compared… Read the full article here

The highly classified leaked Pentagon documents posted to social media offer a pessimistic US viewpoint about the state of the war in Ukraine, highlighting weaknesses in Ukraine’s weaponry and air defenses and predicting a stalemate in the war for months to come. The documents, which appear to date from February and March, detail many of Ukraine’s perceived military shortfalls as Kyiv prepares for a spring counteroffensive against Russia. Several of the classified documents warn that Ukraine’s medium-range air defenses to protect front-line troops will be “completely reduced by May 23,” suggesting Russia could soon have aerial superiority and Ukraine could…

Harita Nickel, Indonesia’s biggest initial public offering this year, jumped on its debut to be valued at more than $5.5bn, putting the south-east Asian country on course to overtake the US IPO market this year in terms of equity fundraising.Nickel and other energy companies have been a driving force in what is set to be a record year for Jakarta’s market. Shares in Harita Nickel rose more than 4 per cent to Rp1,305 ($0.09) on their debut in Indonesia on Wednesday, bringing the company’s market value to more than Rp82tn.The successful listing has helped cement Jakarta’s ranking as one of…

INVESTMENT STRATEGY OUTLOOK – MARCH 31, 2023 From this point forward, we are moving to a new format for our letters. At FMI, we have one investment team, one philosophy, and one research process, thus we have decided to transition to a single letter, where we will cover all our investment strategies collectively. We will discuss our performance by fund at the outset of each letter, touch on key domestic and international investment topics, and feature a few existing portfolio holdings at the end. As we have done historically, we will provide perspective on the market, the investment landscape, and…

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A group of filmmakers and community participants is working on a feature film chronicling the rise of Kabosu, the Shiba Inu featured in the famous Doge meme, from an abandoned puppy to a global icon. The Doge documentary, titled “Dogumentary,” is produced by Own the Doge and Web3 art and culture collective PleasrDAO and portrays how a Shiba Inu dog inspired a cryptocurrency with an $11.6 billion market cap, a life philosophy, and a holy pilgrimage to Japan over the past decade. Own the Doge, a Doge-oriented NFT community, and PleasrDAO recently acquired the rights to the original Doge meme image for…

Warren Buffett says geopolitical tensions were “a consideration” in the decision to sell most of Berkshire Hathaway’s shares in global chip giant TSMC, which is based in Taiwan. The 92-year-old “Oracle of Omaha” shed light on the investment call in a Tuesday interview with Japanese news agency Nikkei. He was quoted as sayiing that TSMC was a well-managed company but that Berkshire had “better places” to deploy its capital. In February, Berkshire Hathaway (BRKA) revealed that it had sold 86% of its shares in TSMC, which were purchased for $4.1 billion just months before. The quick sale was considered unusual…

The banking sector turmoil that led to the collapse of several lenders was not a systemic crisis and has now subsided, according to Tim Adams, CEO of the Institute of International Finance.The fall of Silicon Valley Bank in early March — the largest banking failure since the global financial crisis — triggered a wave of market panic that swept through the sector in Europe and the U.S.related investing newsA flight of shareholders and depositors culminated in the downfall of Credit Suisse, with Swiss authorities brokering the emergency rescue of the 167-year-old institution by domestic rival UBS.The smaller Signature Bank was…

By Gabriel Burin (Reuters) – Brazil’s inflation likely stayed high in March on rising gasoline bills, reigniting cost of living problems in the country’s stagnant economy and probably stoking more disagreement over policy, a Reuters poll showed. Consumer prices cooled in the second half of 2022 in reaction to an aggressive tightening campaign by the central bank. But inflation pressures reemerged after President Luiz Inacio Lula da Silva took office at the start of this year. The monthly report on consumer prices scheduled for Tuesday could again push back expectations for policy easing towards the end of this year and…