您现在的位置是:erlang b formula > Focus
【beachbody app on samsung tv】Billionaire Warren Buffett Divests Airline Stakes, Sees No ‘Attractive’ Investments
erlang b formula2024-09-29 12:30:16【Focus】9人已围观
简介Billionaire Warren Buffett said Saturday that its investment conglomerate Berkshire Hathaway (BRK.A) beachbody app on samsung tv
Billionaire Warren Buffett said Saturday that its investment conglomerate Berkshire Hathaway (
BRK.A
) has sold all of its stakes in U.S. airlines after air travel was shut off in an effort to contain the fast spread of the coronavirus pandemic.
Buffett,beachbody app on samsung tv who is a fond investor in the airlines industry, disclosed that Berkshire has divested its entire holdings in the U.S. four largest airline carriers: American Airlines Group Inc (
AAL
), United Airlines Holdings Inc (
UAL
), Delta Air Lines Inc. (
DAL
), and Southwest Airlines Co. (
LUV
).
“We made that decision in terms of the airline business. We took money out of the business basically even at a substantial loss […] and that was my mistake,” Buffett said. “We will not fund a company where we think that it is going to chew up money in the future.”
Buffett’s Berkshire, which has accumulated $137 billion in cash and cash equivalents, as of the end of the quarter, hasn’t invested in new ventures for some time.
“We have not done anything, because we don’t see anything that attractive to do,” Buffett, Berkshire Hathaway chairman and CEO, said at the company’s live-streamed annual meeting following its quarterly earnings release. “We are willing to do something very big. I mean you could come to me on Monday morning with something that involved $30, or $40 billion or $50 billion. And if we really like what we are seeing, we would do it.”
U.S. airlines have been burning through billions of dollars in the first quarter incurring huge losses and implementing cost-cutting plans as the coronavirus-related global lockdown orders have brought air travel to an almost complete halt.
Citigroup analyst
Stephen Trent
last week cut American Airlines’ price target to $10 from $13, while maintaining his Sell rating on the stock.
"In light of deep global uncertainties associated with COVID-19, American Airlines seems likely to eschew the standard guidance metrics such as revenue per available seat mile or RASM, CASM-ex, etc., in favor of more timely commentary on available liquidity, capital markets access, and cost reduction potential," Trent wrote in a note to investors.
TipRanks
data
shows that overall Wall Street analysts have a Hold consensus rating on the stock based on 7 Sells, 6 Holds and 3 Buys. The $15.45 average
price target
implies 45% upside potential in the coming 12 months. (
See American Airlines stock analysis on TipRanks
)
Commenting on the magnitude and recovery potential of the coronavirus outbreak, Buffett expressed confidence that Americans will be able to endure the pandemic crisis as history has shown that prosperity followed, after crises such as the Civil War in the 1860s and the Great Depression.
“Nothing can stop America when you get right down to it,” Buffett said. “I will bet on America the rest of my life.”
Story continues
Related News:
Amazon Dips 8% on $4 Billion Virus Costs Amid Prospect For 2Q Loss
Apple Exceeds Expectations With FQ2 Earnings Beat
Boeing Raises $25 Billion in Bond Sale, No Longer Needs Government Aid; Shares Slip
View comments
很赞哦!(148)
相关文章
- INVESTOR ALERT: Kirby McInerney LLP Continues Investigation of Shareholder Claims Against Hallmark Financial Services Inc.
- Is Sirius International Insurance (SG) A Good Stock To Buy Now?
- Dow Inc. (DOW) Gains But Lags Market: What You Should Know
- Clarivate Analytics Plc (CCC) Q1 Earnings and Revenues Miss Estimates
- ROSEN, INVESTOR COUNSEL, Reminds Beyond Meat, Inc. Investors of Important Deadline in Securities Class Action; Encourages Investors with Losses In Excess of $500K to Contact Firm - BYND
- NeoPhotonics (NPTN) Misses Q3 Earnings Estimates
- Russia's ruling party backs idea to allow Putin to run again for president - RIA
- StockBeat: Virus Derails Intu's Rescue Plan
- Coronavirus slows, but doesn't stop real estate lending: Report
- China's Xi Visits Wuhan, Says Coronavirus Outbreak 'Basically Curbed'
热门文章
站长推荐
Peru's president accuses AG of damaging big corruption probe
RPT-Iowa's anger over Trump's ethanol policy gives Democrats opening
Ferro (FOE) Beats Q3 Earnings and Revenue Estimates
The New America High Income Fund, Inc. Declares Dividend
Exclusive: Germany ready to nationalise airline Condor - sources
U.S. Stocks Set To Open Higher On Final Day Ahead Of U.S. Presidential Election
Unknown gunmen kill three in daylight in Afghan capital Kabul
Mortgage Rates Are Lowest Ever; 12.8M Should Refinance
友情链接
- Canadian General Investments: Investment Update - Unaudited
- With EPS Growth And More, Anchorstone Holdings (HKG:1592) Is Interesting
- (APC) INVESTOR ALERT - Anadarko Petroleum Corporation - Bronstein, Gewirtz & Grossman, LLC Notifies Investors With Losses Exceeding $100K of Class Action and Lead Plaintiff Deadline: April 20, 2020
- Donaldson (DCI) Q1 Earnings & Sales Top Estimates, Decline Y/Y
- What Is MDU Resources Group's (NYSE:MDU) P/E Ratio After Its Share Price Tanked?
- The New America High Income Fund, Inc. Declares Dividend
- Russia asks for ships disinfection from Iran, Italy and South Korea in Novorossiisk - document
- Coronavirus Could Hold Up Annual Ocean Shipping Contracts
- This Alibaba Stock Correction Offers an Opportunity You Can’t Refuse
- Eversource (ES) Q3 Earnings Lag, Revenues Beat Estimates