On the long way down, in what appears to be a clear-cut recession, investors are looking at picking up names on the cheap for when the turnaround kicks in. While we do not necessarily know when that will be, it does not hurt to add high-quality names to the portfolio when prices are depressed. One big Wall Street name thinks […]

New York (CNN Business)Warren Buffett’s Berkshire Hathaway is betting that the oil boom isn’t going to end any time soon. Berkshire Hathaway disclosed in a regulatory filing late Wednesday that it spent about $529 million to buy nearly 9.6 million shares of Occidental Petroleum in the past week. Berkshire Hathaway (BRKB) made the purchases between June 17 and June 22. […]

The majority directors at consumer lender Humm have resigned following the collapse of a deal to sell the company’s consumer finance arm. In an update to the ASX released on Wednesday morning, the majority directors said they could not remain on the board with Humm founder and majority shareholder Andrew Abercrombie. Humm Group chairman Christine Christian will resign from the […]

Marvel Comics began as Timely Publications in 1939. It was quickly the home of Captain America, a hero from WWII, and Stan Lee, who would become its legendary creative chief. Marvel went through several cycles of owners, and eventually became part of The Walt Disney Company which was the originator of illustrated movies. Along the way, it launched comic books […]

Markets were somewhat mixed as the week came to a close. The S&P 500 and Dow Jones industrials each saw a slight loss on the day, while the Nasdaq had a handy gain, up over 0.5%. Despite this small bounce, each of the major averages is on track for posting a fairly sizable loss for the week. On this day […]

(CNN Business)Editor’s Note: This story is part of CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. Hello from the mountains of northwest Pennsylvania, where I’ve spent much of the weekend staring into the woods in the hopes of spotting my local bear. True story: she’s out there, according to witnesses. But for whatever […]

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. New York (CNN Business)The Federal Reserve is widely expected to raise interest rates by a half of a percentage point for the second consecutive time at the end of its next meeting on June 15. After that, all […]

New York (CNN Business)Tech stocks have been obliterated this year. The Nasdaq is down more than 26%, putting that index in a bear market. Unfortunately for investors, analysts at Goldman Sachs see more pain ahead for some (but not all) tech heavyweights. Goldman Sachs analysts downgraded shares of Netflix (NFLX), eBay (EBAY) and gaming/metaverse giant Roblox to rare “sell” ratings […]

Gold prices edged lower on Thursday as the dollar surged higher amid rising bets the Federal Reserve will resort to aggressive rate hikes to rein in inflation. The European Central Bank today signaled a 25 basis points hike in July and said it expects another hike in September. A stronger dollar weighed on gold prices. The dollar, which was seeing […]

We started writing in earnest about the rise of oil prices over a year and a half ago, and one of the most prescient research reports came from J.P. Morgan, when oil was still in the $70 a barrel range in September of 2021, titled “OPEC+ ‘Show me the Barrels’; $150/barrel on the horizon as capacity shocks.” The firm made […]