Warren Buffett, the legendary investor, has finally disclosed his secret stock pick in a recent regulatory filing, and it’s none other than Chubb. Berkshire Hathaway, Buffett’s conglomerate, has acquired almost 26 million shares of Chubb, totaling a stake valued at $6.7 billion. This move has propelled Chubb to become Berkshire’s ninth largest holding as of
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The U.S. Department of Education has extended the deadline for borrowers to request a loan consolidation in order to qualify for key student loan forgiveness. Borrowers now have until June 30 to take advantage of this opportunity, which will combine their federal student loans into one new federal loan. By applying for loan consolidation by
The electric car industry is becoming increasingly competitive, with new players entering the market and challenging established brands like Tesla. One such newcomer is Onvo, the lower-priced brand of Chinese electric car company Nio. Onvo recently unveiled its first car, the L60 SUV, which is set to be priced at $4,000 cheaper than Tesla’s Model
Despite a recent drop in mortgage rates to the lowest level since April, buyers are still finding it challenging to afford homes in today’s housing market. The Mortgage Bankers Association reported that total mortgage application volume only increased by a mere 0.5% from the previous week. This indicates that demand for mortgages has not been
In the midst of the second meme craze, AMC Entertainment has seen a surge in its stock price, following the return of “Roaring Kitty,” also known as Keith Gill, who inspired the massive short squeeze of 2021. This surge has led AMC shares to more than double since Friday’s close, rising above $6 in afternoon
The recent surge in meme stock trading, particularly in companies like AMC Entertainment and GameStop, can largely be attributed to the influence of social media. The resurgence of these stocks in what has been termed as a “meme stock” rally has been triggered by the actions of individuals on platforms like Reddit. The viral nature
As of the first quarter of 2024, consumers are facing the challenge of putting down more money to purchase a home. The typical down payment amount has seen an increase, with the average being 13.6% and the median being $26,000. However, these figures are still below the peaks seen in the third quarter of 2023.
Alibaba, the Chinese e-commerce giant, experienced a significant drop in net profit during the fiscal fourth quarter, leading to a 5% decrease in its shares. The company’s revenue for the quarter stood at 221.9 billion yuan, slightly higher than the LSEG consensus estimate of 219.66 billion yuan. Despite the revenue beat, Alibaba’s net income attributable
Swedish fintech company Klarna has reported that almost 9 out of 10 of its employees are utilizing generative artificial intelligence tools on a daily basis. This adoption rate of over 87% is significantly higher than the average in the broader corporate world, where only 61% of computer users are incorporating generative AI programs into their
AMC Entertainment recently raised around $250 million through a new equity capital offering. This move came amidst the revival of the meme stock craze, which was triggered by the reappearance of “Roaring Kitty.” The movie theater operator decided to sell 72.5 million shares in an at-the-market equity offering that began on March 28. Ultimately, AMC