At least 60 journalists have fled their country since while at least another 19 languish in prison.
The widely held company is making some major changes, and investors seem to like it, at least initially.
Warren Buffett spends more than he ever has before to acquire a company. But did he pay too much? What was behind the strong start to the week for stocks?
Good evening, everyone, and welcome. Sue Herera has the evening off. Well, get used to hearing about a new company. A new company called Alphabet. GOOG one of the most widely held stocks by mutual funds, perhaps the most famous brand of all these days is creating a holding company with that name, Alphabet in an effort to shake up the way the firm is organized.
GOOG is best known for. The news which came after the close of trading sent shares higher initially in the after-hours session, as you see there. Jon Fortt is here with what this move means for the company and for shareholders who either own the stock directly or through ETFs and funds.
Good to — good to have you with us. Was this reorganization in any way rumored and what does it do? Not rumored at all, Tyler. Had to do a double-take to make sure that this was real. And that company has a new CEO. That will now be part of Alphabet. A few executives will report to Larry Page and not to Sundar Pichai.
David Drummond, general counsel, will report to Larry Page, as well. GOOGwill now be the executive chairman of Alphabet. GOOG will continue to serve in that capacity at Alphabet. So in this what sounds like relatively complicated maneuver, it looks like there is a simple sort of strategy behind it.
GOOGthe ad business there, separate it from the things that are more developmental or investment-oriented, perhaps to juice the stock a little bit.
Is that — is that a wrong reading, John? Jon, thank you very much. Well, on Wall Street today, stocks got off to a strong start driven by a major corporate acquisition by the most closely watched investor of them all, Warren Buffett.
PCP should be a familiar name to you if you watched the program on Friday. It was a pick by our market monitor guest. PCP spiked 19 percent, or sparked.
Class-A shares of Berkshire, well, they fell just a little bit as you see there. Even for Warren Buffett, this is big. A moving beyond its original base in the insurance business. This takes us out of the market for an elephant. The move to buy Precision is a big bet on the aerospace company that buys its parts.
BA and Airbus is booming. And its stock price is down 20 percent in a year. And I — if somebody told me for sure that the oil and gas business was going to be in the doldrums, say for three years, I still would have made the deal. Buffett likes to remind people that Berkshire owns 9. Just in case he wants to pounce on a deal only he would consider small.
It means the company buys stock cheap. Shares of IBM rose today along with the broader market. KFT Heinz, as we mentioned in that package.Visit Official Website Watch Capitol News WRHM Recorded TV from Guyana News TV Channel / Guyana's leading Newscast! Editor-in-Chief is Enrico Woolford.
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