Morning Brief: Buffett's Berkshire Hathaway bought 75M Apple shares
Friday, May 4, 2018
What to watch today
Friday will be highlighted by the April U.S. jobs report. Economists estimate 192,000 payrolls were added during the month, up from the 103,000 added in March. Wage growth will be closely watched. Average hourly earnings are estimated to have increased at 0.2% month-over-month or 2.7% year-over-year.
But the week doesn’t end with the jobs report. On Saturday, Warren Buffett and Charlie Munger will lead the 2018 Berkshire Hathaway shareholders meeting. Tune into Yahoo Finance’s exclusive livestream of the event at 9:45 a.m. ET, and listen for Buffett and Munger’s takes in the economy, markets, politics, investing, and recent investments among other things.
Top news
Buffett’s Berkshire Hathaway bought stunning 75M Apple shares in 1Q: In the first quarter, Warren Buffett’s Berkshire Hathaway (BRK-A) bought an astounding 75 million shares of Apple (AAPL). That adds to the 165.3 million shares Berkshire already owned at the end of 2017. Buffett revealed the additional purchases of Apple just ahead of the Berkshire Hathaway annual shareholders meeting in Omaha, where 40,000 Berkshire shareholders will arrive this weekend. [CNBC]
Ex-Volkswagen CEO charged in US over diesel scandal: The U.S. Justice Department on Thursday disclosed the filing of criminal charges against former Volkswagen AG Chief Executive Martin Winterkorn, accusing him of conspiring to cover up the German automaker’s diesel emissions cheating. The indictment, filed in secret in March, was unsealed in U.S. District Court on Thursday as Volkswagen held its annual meeting in Germany. Winterkorn resigned days after the scandal over polluting vehicles in the United States became public in September 2015. [Reuters]
Twitter urges all users to change passwords after glitch: Twitter (TWTR) urged its more than 330 million users to change their passwords after a glitch caused some to be stored in readable text on its internal computer system rather than disguised by a process known as “hashing”. [Reuters]
Xerox says CEO, board will stay put: Xerox Corp. (XRX) said its board and management team will stay after an agreement it had reached with dissenting shareholders to oust them expired, adding another twist to a lengthy dispute over Fujifilm taking control of the U.S. company. The activists, Darwin Deason and Carl Icahn, confirmed that the agreement had expired, blamed Xerox for letting it dissolve and said they would continue to fight the company. [Reuters]
China says ‘big differences’ with US remain after talks: Chinese and American officials meeting in Beijing agreed to set up a mechanism to work through an escalating dispute over trade at the end of talks Friday, Chinese state media said. But it said “big differences” remain on some matters. The two sides “reached consensus in some areas,” but specifics were not provided. [AP]
For more of the latest news, go to Yahoo Finance
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