Banker to World s Richest Families Builds a $3 6 Billion Fortune bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Analysts at Jefferies parted way with their bullish stance on Coach Inc (NYSE: COH) as there are few catalysts left to support the stock. The firm s Randal Konik downgraded Coach s stock rating from Buy to Hold with a price target lowered from $53 to $45, which implies downside to the stock. Read More.
Whitney Tilson benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
(Bloomberg) Warren Buffett conceded a mistake with one of his biggest deals in recent years: the $37.2 billion purchase of Precision Castparts Corp. in 2016.“I paid too much for the company,” the billionaire investor said Saturday in his annual letter. “No one misled me in any way I was simply too optimistic about PCC’s normalized profit potential.”Buffett’s Berkshire Hathaway Inc. took an almost $11 billion writedown last year that was largely tied to Precision Castparts, the maker of equipment for aerospace and energy industries based in Portland, Oregon.Precision Castparts has struggled as the coronavirus pandemic slashed demand for flights, prompting airlines to park jets and reduce schedules. That means less need for replacement parts and a big drop in aircraft purchasing. Precision slashed its workforce by about 40% last year, according to Berkshire’s annual report.And the slump in travel is expected to persist, leading to more
FACTBOX-Buffett ramps up oil bets with $4 bln Chevron stake reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.