Tag: Financial Services

Warren Buffett’s Berkshire Hathaway Inc. slashed its exposure to big-bank shares in the first quarter, liquidating its position in Citigroup Inc. and trimming positions in Bank of America Corp. and Capital One Financial Corp., according to a regulatory filing on Thursday.

Perplexity is extending its bet on chat-powered shopping, aiming to stand out in the crowded generative artificial intelligence market against OpenAI, Anthropic, and Google.

Warren Buffett’s Berkshire Hathaway reported first-quarter results on Saturday that showed a steep drop in operating earnings from the year-earlier period. The conglomerate, which owns a vast array of insurance, transportation, energy, retail and other businesses also warned that tariffs may further hit profits.

Mastercard (MA.N),  beat Wall Street estimates for first-quarter profit on Thursday as customers kept up spending on its card network despite the economic uncertainty sparked by a global trade war, sending its shares up 1.7% in premarket trading.

PayPal reported better-than-expected earnings for the first quarter, but the company missed on revenue and reaffirmed its guidance for 2025 due to macro uncertainty.

Shares in Capital One and Discover Financial Services were rising Monday, as investors reacted to U.S. banking regulators approving a $35 billion merger between two of the biggest U.S. credit-card issuers.

British defence and security company QinetiQ on Monday warned of delays in short-term contracts being awarded in the U.S. and UK, where new policies are being implemented after recent changes in government.

The mortgage giant Rocket Cos. has agreed to buy Redfin in an all-stock deal valuing the online real-estate brokerage at $1.75 billion.

Allianz raised its dividend and said it would buy back shares after net profit rose in last year’s final quarter.

Berkshire Hathaway’s fourth-quarter earnings were excellent but not quite as strong as they looked because of a one-time currency benefit.

DBS Group plans to cut 4,000 jobs over the next three years as it expects artificial intelligence (AI) to increasingly take on roles carried out by humans, Chief Executive Officer Piyush Gupta said on Monday.

Block reported fourth-quarter results on Thursday that fell short of Wall Street expectations. The stock dropped more than 6% in extended trading.

Berkshire Hathaway reduced its stakes in Bank of America and Citigroup and established a new holding in Constellation Brands during the fourth quarter.

Ratings agency Moody’s Corp forecast 2025 profit above Wall Street estimates on Thursday, anticipating strong demand for its data and analytics offerings amid macroeconomic ambiguity, sending its shares up over 3% in premarket trading.

Exchange operator CME Group reported a higher fourth-quarter profit on Wednesday, helped by increased hedging activity by investors looking to mitigate risks from geopolitical and economic uncertainty.

The bank has benefited from strong retail banking operations and trading activity

PayPal shares fell 5% in premarket trading on Tuesday after the digital payments giant’s operating margin shrank in the fourth quarter, raising concerns over the possibility of a sluggish recovery and overshadowing a strong profit forecast for 2025.

Mastercard reported a higher fourth-quarter profit on Thursday as a resilient economy encouraged consumers to ramp up spending during the holiday season, sending the company’s shares up 2% before the bell.

Goldman Sachs posted its best profit since the third quarter of 2021, driven by bankers who brought in more fees from dealmaking, debt sales and strength in trading, sending its shares up 3% before the bell.

Warren Buffett went on bit of a shopping spree in the stock market before Christmas, picking up shares of Occidental Petroleum
among others during a swift December sell-off.