Buffett Bets Big, Transportations Take Off, Gold Hits High
In what he is calling an “all-in-wager” on the future of America, billionaire investor Warren Buffett placed the biggest bet of his career by agreeing to purchase Railroad Company, Burlington Northern Santa Fe Corp for $26 billion. This triggered a rally in the transportation sector but was insufficient impetus to drag the broader market sharply higher. Word of the IMF selling 200 tons of gold to India’s Central Bank sent the precious metal to its all time high. The DJIA closed down -17.53 to 9771.91, the tech heavy Nasdaq added +8.12 to 2057.32 and the broad based S&P 500 climbed +2.53 to 1045.41.
Burlington Northern Santa Fe
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PowerRating): Surged 2.04% or $21.33 to $97.41/share on word of Buffettt’s buyout offer.
Intel
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PowerRating): A downgrade to “cautious” at Morgan Stanley, sent shares lower by 2.68% or 51 cents to $18.50.
Energizer Holdings
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PowerRating): Fell 10.29% or $6.20 to $54.05/share after missing profit estimates.
Texas Roadhouse
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PowerRating): Soared 16.72% or $1.57 to $10.97/share after beating analyst’s estimates.
Gold hit an all time high today closing up $31.20 to $1084.90, oil added $1.47 to $79.41 and the VIX index fell 3.26% to 28.81.
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