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Yahoo BusinessAug 08, 2020
Buffett Bought Back His Own Stock While Selling Others
(Bloomberg) -- Shares of Berkshire Hathaway Inc. were left out of the stock market rally in the second quarter. Warren Buffett clearly thought the disconnect wasn't warranted.The famed investor spent a record $5.1 billion buying back Berkshire's own stock in the second quarter, more than double the amount he'd ever purchased before. That came as he unloaded almost $13 billion of other companies' shares, including airline stocks and some financials, in what was his biggest selling quarter in more than a decade.Buffett has been building up cash this year and took a more cautious tone at his annual meeting in May as the Covid-19 pandemic has slammed the economy without putting a permanent dent in stock-market valuations. But his appetite for his own stock in the second quarter, along with recent signs that he's been willing to put more money to work, are reasons for some optimism, according to Jim Shanahan, an analyst at Edward Jones."The buybacks are a relatively safe way to deploy capital in an uncertain environment," said Shanahan, who estimated that Berkshire repurchased another $2.4 billion of shares in July. "But it's clear that that's not all he's doing."Buffett's cash pile surged to a record $146.6 billion at the end of June, in part from dumping all of his airline shares in April. He's been more active lately, striking a deal for natural-gas assets in July and snapping up at least $2 billion of Bank of America Corp. stock in recent weeks through Aug. 4. Overall, Saturday's disclosures signaled to longtime sharehol

MarketWatch MarketPulseAug 06, 2020
Coronavirus tally: Global cases of COVID-19 top 18.8 million, 708,036 deaths, Fauci says pandemic may not be tamed until end 2021
The global tally for confirmed cases of the coronavirus that causes COVID-19 climbed above 18.8 million on Thursday, according to data aggregated by Johns Hopkins University, and the death toll rose to 708,036. At least 11.3 million people have recovered. The U.S. case tally climbed to 4.8 million and the death toll rose to 158,256. President Donald Trump said again Wednesday that the virus will go away soon, while Dr. Anthony Fauci, head of the National Institute for Allergies and Infectious Diseases, said it may not be brought under control until late 2021. Brazil is second to the U.S. with 2.9 million cases and 97,256 deaths. India is third measured by cases at 1.9 million, followed by Russia with 870,187 and South Africa with 529,877. Mexico has 456,100 cases and 49,698 deaths, the third highest in the world. The U.K. has 307,271 cases and 46,295 fatalities, the highest in Europe and fourth highest in the world. China, where the illness was first reported late last year, has 88,423 cases, and 4,678 fatalities.|

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



KiplingerJul 24, 2020
Stock Market Today: China Concerns, Stalling Stimulus Muddy Markets
Tensions with China seeped further into the market Friday as the U.S.-China trade deal returned to the picture, and deep losses for chipmaker Intel (INTC, -16.2%) didn't help, either.

In a Thursday coronavirus briefing, President Donald Trump said the pact "means less to me now than it did when I made it" as he continues to lay blame on China for the COVID-19 breakout. That, as well as China's demand that the U.S. close its Chengdu consulate - a retaliatory measure for a similar American order earlier this week - helped crack investor confidence.

14 Stocks to Sell or Stay Away From Senate Republicans' fiscal stimulus proposal was delayed again, too, with a reveal now expected on Monday.

Intel was a particular dragĀ following its Thursday evening earnings report, when it admitted thatĀ its next-generation CPUs will be released six months later than expected.

"We believe the company's delay of its 7nm roadmap will foster fears of competitive pressures persisting, if not accelerating over the next 2-3 years and thereby cap the valuation on its shares," wrote Deutsche Bank analyst Ross Seymore, who downgraded the stock from Buy to Hold. "While INTC has successfully proven that it can generate solid revenue and earnings growth despite being behind on Moore's Law (a trend that likely persists into 2021), we believe fears of the announced 6-month 7nm delay extending to a 10nm-esque multi-year issue that eventually does impact fundamentals will likely keep INTC's shares range-bound until the company definitively proves otherwise."

The uncertainty was a boon for gold, which continued its breako

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