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Buffett upbeat on American business; Berkshire operating profit down

Sat, 25 Feb 2017 18:58:28 -0500

(Reuters) - Warren Buffett on Saturday mounted a forceful and upbeat defense of the prospects for American business, as his Berkshire Hathaway Inc reported a higher quarterly profit though operating income fell.(image)

Warren Buffett rails against fee-hungry Wall Street managers

Sat, 25 Feb 2017 14:12:14 -0500

NEW YORK (Reuters) - Billionaire Warren Buffett, whose stock picks over several decades have enriched generations of Berkshire Hathaway Inc shareholders, delivered a black eye to the investment industry on Saturday, urging ordinary investors to buy plain-vanilla index funds.(image)

TCL carries flickering BlackBerry flame with new phone launch

Sat, 25 Feb 2017 14:43:28 -0500

BARCELONA, Spain (Reuters) - Blackberry Ltd may have exited the device business, but fans of the pioneering email machine need not despair as Chinese smartphone maker TCL Communication has introduced its first Blackberry-licensed phone with the physical keyboard that was long its key allure.(image)

Buffett scorns tricky Wall Street accounting, but defends buybacks

Sat, 25 Feb 2017 14:45:56 -0500

NEW YORK (Reuters) - Billionaire investor Warren Buffett on Saturday attacked what he saw as tricks used by U.S. companies to boost earnings and stock prices, but he defended one oft-criticized practice: share buybacks.(image)

Record-setting stock rally faces test in Trump speech

Fri, 24 Feb 2017 20:33:57 -0500

NEW YORK (Reuters) - U.S. President Donald Trump's planned economic agenda has fanned the flames for Wall Street's record-setting run, but some investors worry that his first major address to Congress next week risks dousing it if his plans look slow to execute or are overly vague.(image)

U.S. new home sales rebound; consumer sentiment dips

Fri, 24 Feb 2017 12:46:15 -0500

WASHINGTON (Reuters) - New U.S. single-family home sales rose less than expected in January, likely held back by heavy rains and flooding in California, but continued to point to a strengthening housing market despite higher prices and mortgage rates.(image)

J.C. Penney holiday quarter sales drop, to shut 130-140 stores

Fri, 24 Feb 2017 11:55:24 -0500

(Reuters) - Department store operator J.C. Penney Co Inc reported a bigger-than-expected drop in same-store sales for the holiday quarter citing weak demand and competition from online retailers, sending shares down to more than a year low.(image)

Ghosts of past tech IPOs could haunt Snap's performance

Fri, 24 Feb 2017 16:04:54 -0500

(Reuters) - Snap Inc appears set to make a splash next week with the biggest tech stock debut since Facebook Inc, but history suggests investors shut out of the initial public offering would be better off waiting a bit to chase this unicorn on the open market.(image)

Alphabet's self-driving car unit sues Uber with trade theft charge

Fri, 24 Feb 2017 20:13:14 -0500

SAN FRANCISCO (Reuters) - Alphabet Inc's Waymo self-driving car unit sued Uber Technologies [UBER.UL] and its autonomous trucking subsidiary Otto on Thursday over allegations of theft of its confidential and proprietary sensor technology.(image)

Wall Street edges higher to give Dow 11th straight record

Fri, 24 Feb 2017 20:11:43 -0500

NEW YORK (Reuters) - Wall Street edged higher on Friday, with the Dow extending its streak of record-setting gains to 11 days, as increases in utilities and other safety plays outweighed declines in financials.(image)