Morning Coffee with TradingMarkets
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Good Morning! |
Berkshire Hathaway Buys 3% of Swiss Re… Apple Disappoints… Pfizer
Raises its Outlook… Motorola’s Profit Plummets… SunTrust Forced to
Write-down $555m… Asian markets bounced back… European markets fell… And
the futures are indicating further losses in the U.S.
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TradingMarkets 5 Business Stories You Need to Know |
Buffett Takes Stake in Swiss Re – The Wall Street Journal
Swiss Reinsurance said Berkshire Hathaway has taken a 3% in the re-insurer and will assume 20% of its property and casualty business for the next five years, a move allowing the company to increase its share buyback.
Apple earnings climb 58%, but outlook disappoints – Marketwatch
Apple reported first-quarter profit that rose 58% from a year ago, but the company’s shares tumbled in after-hours trading as the consumer-electronics maker gave an earnings outlook that fell short of Wall Street analysts’ forecasts.
Pfizer Profit Falls 70% After Consumer Unit Sale
– Bloomberg
Pfizer, facing generic competition to its Norvasc blood pressure pill and Lipitor cholesterol drug, said profit fell 70 percent from a year earlier when it sold its consumer unit to Johnson & Johnson.
Motorola slump lays out challenge for new CEO – FT.com
Motorola said its fourth quarter earnings had fallen 84 per cent as it lost market share to Apple’s iPhone and products from Samsung, and forecast a loss in the next quarter.
Write-Downs Hit SunTrust Earnings – The Wall Street Journal
SunTrust Banks fourth-quarter net income fell 98% as the company recorded a higher-than-expected $555 million in write-downs and reported soaring credit costs.
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