Month: June 2022
Buffett keeps buying more Occidental. Here’s the buy the dip case for energy stocks
Energy stocks have come under withering pressure in June amid a broader market rout and mounting recession fears, and Berkshire Hathaway’s Warren Buffett is among those buying the dip. The conglomerate bought an additional $44 million in Occidental stock on June 23, according to a filing with the Securities and Exchange Commission. The purchase brings […]
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Airbnb makes its party ban permanent
CEO, Co-Founder – Airbnb Brian Chesky attends The Cannes Lions 2016 on June 20, 2016 in Cannes, France. (Photo by Richard Bord/Getty Images) Richard Bord | Getty Images Entertainment | Getty Images Airbnb announced a global ban on parties on Tuesday. It follows a temporary restriction the company put in place two years ago. The […]
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NASA begins return to the moon with low-cost CAPSTONE mission, launched by Rocket Lab
The company’s Electron rocket carrying the CAPSTONE mission lifts off from New Zealand on June 28, 2022. Rocket Lab Rocket Lab launched a small spacecraft bound for the moon from its New Zealand facility early Tuesday, a mission that represents firsts for both the company and the National Aeronautics and Space Administration. The company’s Electron […]
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Cathie Wood explains her bear market strategy, slashes portfolio to just 34 holdings
One of Ark Invest CEO Cathie Wood’s strategies to weather the bear market and manage risk is through consolidation. She told CNBC on Tuesday that since February 2021, the investment firm has cut its portfolio down from about 58 to 34 stocks to focus on its “highest conviction names.” “When people invest in Ark, they […]
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Goldman Sachs cuts Truly maker Boston Beer to sell as hard seltzer’s popularity fades
The waning popularity of hard seltzer brand Truly is about to cut Boston Beer’s momentum, according to Goldman Sachs. Analyst Bonnie Herzog downgraded shares of the Sam Adams brewer to sell from neutral, saying in a Tuesday note that lower consumer interest in hard seltzer, and a lackluster product pipeline, will dampen its sales. “We […]
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Can war be net-zero? NATO pledges massive revamp of energy-guzzling equipment
A naval exercise led by U.S. Naval Forces Europe-Africa, and executed by the NATO Naval Striking and Support Forces, in the Baltic Sea on June 6, 2022. Russia’s onslaught in Ukraine is almost certain to eclipse other security concerns at NATO’s Madrid summit this week. Jonathan Nackstrand | Afp | Getty Images The super-polluting military […]
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New York Fed President John Williams says a U.S. recession is not his base case
New York Federal Reserve President John Williams said Tuesday he expects the U.S. economy to avoid recession even as he sees the need for significantly higher interest rates to control inflation. “A recession is not my base case right now,” Williams told CNBC’s Steve Liesman during a live “Squawk Box” interview. “I think the economy […]
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ARK Invest’s Cathie Wood says the U.S. is already in a recession
Catherine Wood, chief executive officer of ARK Investment Management LLC, speaks during the Bitcoin 2022 conference in Miami, Florida, U.S., on Thursday, April 7, 2022. Eva Marie Uzcategui | Bloomberg | Getty Images Ark Invest CEO Cathie Wood said Tuesday that the U.S. is already in an economic downturn, and she admitted that she underestimated […]
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LinkedIn co-founder Hoffman hopes to get more Democrats elected to Congress by beating some in the midterms
LinkedIn co-founder Reid Hoffman wants to get more Democrats elected to Congress this fall, but first, he has to defeat some Democrats this summer. The billionaire is spending millions on campaigns against what his advisors see as radical, far-left Democrats in hopes of getting more moderate Democrats to November’s general elections where the party will […]
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Crypto exchange CoinFlex is raising $47 million through a new coin after a major investor fails to pay debt
A cryptocurrency price crash and the onset of a new so-called “crypto winter” has left many companies in the industry facing a liquidity crisis. Artur Widak | Nurphoto | Getty Images Cryptocurrency exchange CoinFlex on Tuesday issued a new token to raise funds in a bid to restart withdrawals for its customers, after one client […]
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