HP shares are up over 14% after Berkshire Hathaway buys $4.2 billion worth of its stock đ
Thursday, 7th April 2022 by Gotrade
Hey Gotraders,
Shares of Twitter (TWTR) rallied 27% earlier this week when a famous person (or maybe in this case - an infamous person) Elon Musk bought a 9.2% stake in the company.
Today, shares of HP (HPQ) are rallying because another famous person bought a massive stake in the company. Who am I talking about? Mr. Warren Buffett.
Thatâs right - Shares of HP are up over 14% in extended trading because news broke that Buffettâs Berkshire Hathaway (BRK.B) has been acquiring shares of the company this week. He owns nearly 121 million shares worth $4.2 billion.
âBerkshire Hathaway is one of the worldâs most respected investors and we welcome them as an investor in HPâ - HP.
Shares of HP closed at $34.91, down 2.97% for the day. Shares are up 14.15% in extended trading at the time of writing.
Why is this important? Berkshire Hathaway has been looking for ways to invest its excess cash. Mr. Buffett recently made headline news for investing in energy companies like Occidental Petroleum (OXY) and Chevron (CVX). He even acquired an insurance company Alleghany for $11.6 billion. I guess he found another company to invest in!
One of Mr. Buffettâs favorite stocks to invest in is tech giant Apple (AAPL).
Hereâs a peek into Warren Buffettâs portfolio. Youâre welcome!
đ Uber wants to be the next âSuperAppâ đŞ
Ride-hailing company Uber (UBER) wants to be the next SuperApp that exists. A SuperApp is basically a one-stop app for most of your needs. Examples of SuperApps include WeChat, Grab (GRAB), GoTo, and Paytm.
Uber wants to be a travel SuperApp - and they plan to do this by adding trains, buses, planes, and car rentals to its U.K. app this year. Uber will allow users to book these services through its app following software integrations with airlines, bus and rail operators, and car rental companies. They also plan to allow people to buy Eurostar train tickets through the app in the future.
âYou have been able to book rides, bikes, boat services, and scooters on the Uber app for a number of years, so adding trains and coaches is a natural progression⌠Later this year we plan to incorporate flights, and in the future hotels, by integrating leading partners into the Uber app to create a seamless door-to-door travel experienceâ - Jamie Heywood, Uberâs boss in the U.K.
Shares of Uber closed at $33.41, down 4.43% for the day. Shares are up 0.75% in extended trading at the time of writing.
đ Shellâs withdrawal from Russia could cost them $5 billion đ¤
Oh no⌠Shell (SHEL) has announced that withdrawal from Russian operations would cost them up to $5 BILLION. This is more than what they previously communicated.
Shell does not expect this impairment to impact its quarterly earnings which they are due to report on 5th May.
Oil and energy companies have been enjoying healthy profits due to soaring oil prices.
Shares of Shell closed at $55.30, up 0.71%. Shares are down nearly 0.5% in extended trading at the time of writing.
Top movers & shakers đ˘
What else is making headline news đ°
SoFi (SOFI) stock drops as firm cuts forecast on student-loan pause.
Billionaire founder of Chinaâs JD.com (JD) steps down as CEO as Beijingâs tech crackdown continues.
Commodities could soar 40% as investors pivot, JPMorgan (JPM) says.
Breakout watch: Microsoft (MSFT), Apple (AAPL) among stocks in or near buy zones but face market pressure.
Chinaâs smartphone market could plunge 20% as Covid cases spike â but Apple (AAPL) may see growth.
General Motors (GM) expects record year of Chevy Bolt EV sales following fire recall.
Levi Strauss (LEVI) earnings top estimates as shoppers buy at higher prices, denim retailer reaffirms 2022 outlook.
After his Virgin Galactic (SPCE) spaceflight, Richard Branson now hopes to fly with Elon Muskâs SpaceX.
Meta (FB) removes Facebook accounts to tackle misinformation ahead of Philippines polls.
Russia takes steps to punish Google (GOOG) over YouTube 'fakes'.
Elon Musk's arrival stirs fears among some Twitter (TWTR) employees.
Popular companies releasing earnings this week đ°
Thursday: Constellation Brands (STZ), Conagra (CAG), Lamb Weston (LW)
A companyâs market value may fluctuate considerably around the time that the earnings report is expected to be published. Stock prices may rise or fall according to analysts' speculative estimates, released prior to the actual earnings announcement.
The earnings season can be a time of great opportunity since better-than-expected figures could cause a companyâs stock to greatly increase in value. Worse-than-expected results could have the opposite effect.
Thatâs all from us for now.Â
Signing out,
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The legal stuff đ¤
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