Buffett’s holding in Mitsubishi has its best day in eight years
Warren Buffett has done it again: Berkshire Hathaway’s holding in Mitsubishi had its best single-day of gains in eight years on Wednesday.
Mitsubishi stock
8058,
+9.74%
rose 9.7% in Tokyo as the company added a stock buyback authority of 500 billion yen ($3.4 billion).
“This is based on the steady generation of underlying operating cash flow and the progress of divestment through the implementation of the value-added cyclical growth model,” the company said in a presentation.
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Read MoreUS companies are still worried about an economic shock
A version of this story first appeared in CNN Business’ Before the Bell newsletter.
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Read MoreBank Upgrades: 3 Names Grabbing Bullish Analyst Attention
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Big news dropped last week that could point to the end of widespread trouble for bank stocks. In a surprising move, Morgan Stanley analyst Betsy Graseck upgraded all three of these bank stocks. She pointed specifically to the likelihood of buybacks accelerating this year,
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Read MoreTesla staff reportedly bracing for possible layoffs, stock gains
© Reuters Tesla (TSLA) staff reportedly bracing for possible layoffs, stock gains
Tesla Inc. (NASDAQ:) employees are preparing for possible layoffs after managers were instructed to evaluate the necessity of each employee’s role, Bloomberg News reported on Wednesday.
TSLA was up 3% ahead of the market open.
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