Monday’s Headlines: Buffett Finally Pulls The Trigger

Monday’s Headlines: Buffett Finally Pulls The Trigger

ICYMI: Here were the biggest movers in the MyWallSt shortlist last Thursday before the markets closed for the Fourth of July:

Moving Up ⬆️

Baozun (BZUN) +8.7%

Tesla Motors (TSLA) +8.0%

Stitch Fix (SFIX) +7.3%

DocuSign (DOCU) +6.7%

Teladoc (TDOC) +5.0%

Moving Down ⬇️

Texas Roadhouse (TXRH) -2.5%

Planet Fitness (PLNT) -2.8%

Trupanion (TRUP) -5.0%

IMAX (IMAX) -5.8%

Match Group (MTCH) -7.6%

1. Stock futures in the U.S. are steadily rising on Monday morning ahead of Wall Street’s return from the long Fourth of July weekend. The Dow Jones (DIA), S&P 500 (VOO), and Nasdaq (QQQ) have all held on in green territory despite at least 120,000 new coronavirus cases being reported in the U.S. over the weekend. Between this and the news that musician Kanye West is entering the 2020 presidential race, investors better strap in and prepare for a wild ride. Read more here

2. After years of speculation, Berkshire Hathaway (BRK.B) has finally pulled the trigger and made a $10 billion purchase of Dominion Energy’s (D) natural gas assets, along with all of its debts. Having revealed Berkshire’s record $137 billion cash pile back in May, CEO Warren Buffett sanctioned the company’s first major purchase since the beginning of the pandemic. For Berkshire, the move greatly increases its footprint in the natural gas business, bringing its total interstate holdings in the sector to 18% in the U.S. Get the full story here.

3. Facebook’s (FB) customer ad boycott appears to be going from bad to worse as the head of the World Federation of Advertisers warns that the big companies are unlikely to return any time soon. CEO Stephan Loerke warned: “I don’t see those big brands come back if there hasn’t been structural change,” as the big names involved in the boycott now include Unilever (UNA), Pepsi (PEP), Starbucks (SBUX), and many more. According to reports, it seems that Facebook CEO Mark Zuckerberg isn’t planning to change the company’s policy towards policing hate speech any time soon. Read the complete story here.

JamieJamie

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