Buffet said that the only Berkshire board members who were informed about the decision were his children, Susie and Howard. He added that he expects Greg Abel, vice-chairman of the company’s non-insurance operations, to succeed him in the role.

“I think the time has arrived where Greg should become the chief executive officer of the company at year-end,” said Buffett.

Greg Abel joined Berkshire Hathaway in 1999 when the company bought MidAmerican Energy, where he served as president. He became MidAmerican’s CEO in 2008, serving in the position for a decade before transitioning to Vice Chairman of Non-Insurance Businesses role and assuming a seat on Berkshire’s board of directors.

Buffett added that he intends to remain involved in the company in some capacity and won’t sell any of his Berkshire shares.

“I would still hang around and could conceivably be useful in a few cases. But the final word would be Greg’s,” Buffett shared. “… I would add this, the decision to keep every share is an economic decision because I think the prospects of Berkshire will be better under Greg’s management than mine.”

Buffett acquired Berkshire Hathaway, which was originally a textile manufacturer, in 1965 and became its CEO in 1970. He quickly transformed it into a conglomerate and positioned it as one of the most powerful companies in the world thanks to smart and timely investments. Today, Berkshire Hathaway’s Class A stock is worth $809,350 per share. Class B shares trade at $539.80 per share.

The post Warren Buffett to Step Down as Berkshire Hathaway CEO at the End of 2025 appeared first on theprimarymarket.com.

Microsoft reported $3.46 in earnings per share, marking an 18% year-over-year increase, compared to an estimated $3.22. Its revenue jumped by 13% compared to the same period last year and came to $70.07 billion while Wall Street analysts expected $68.42 billion.

The company mostly benefited from the strong performance of its cloud business, which saw a 20% year-over-year increase. The revenue associated with its cloud computing platform Azure grew by 33%, with AI contributing 16 points to the growth. Analysts expected Azure’s revenue to jump by around 30% and AI to contribute 15.6 points of growth.

“We delivered a strong quarter with Microsoft Cloud revenue of $42.4 billion, up 20% (up 22% in constant currency) year-over-year driven by continued demand for our differentiated offerings,” Microsoft executive vice president and CFO Amy Hood shared in a statement.

Microsoft stock closed at $395.26 per share on Wednesday, being 5.57% down year-to-date. The stock then took off in the after-hours, reaching $429.60 per share at one point.

Several other tech stocks rose in the aftermath. Shares of chipmaker Nvidia jumped by 4%, Amazon’s stock rose by 3.08%, and shares of Meta Platforms jumped by 4.2%.

The post Microsoft Stock Soars on Better-Than-Expected Q3 Earnings appeared first on theprimarymarket.com.

Chipotle had $0.29 in adjusted earnings per share compared to $0.27 in adjusted EPS expected by analysts. Its revenue came at $2.88 billion, marking a 6.4% jump compared to the same period last year but falling short of an estimated $2.95 billion.

Arguably the most worrying thing for the investors was the same-store sales decline in Q1. Chipotle recorded a 0.4% dip while analysts estimated growth of 1.7%. This was the first quarter in which Chipotle’s same-store sales declined since 2020.

According to CEO Scott Boatwright, the poor results can be attributed to more cautious spending of Americans in an uncertain economic environment. 

“We could see this in our visitation study, where saving money because of concerns around the economy was the overwhelming reason consumers were reducing the frequency of restaurant visits,” Boatwright said during a conference call with analysts.

Chipotle has now decided to lower its forecasts for 2025, projecting same-store sales growth in the low-single-digit range compared to the previous prediction of the low-to-medium single-digit range. The company still intends to open between 315 and 345 new locations by the end of the year.

Chipotle’s stock jumped by 3.57% on Wednesday to close at $48.76 per share but still remained 18.58% down year-to-date. Following the earnings report, the stock erased most of its gains and dipped by 2%.

The post Chipotle Misses on Revenue and Same-Store Sales, Stock Slides appeared first on theprimarymarket.com.

Tesla initially planned to produce a brand new model that would cost $25,000 before changing course in order to focus on the development of robotaxis. Instead, the carmaker decided to offer a “stripped-down” version of its popular Model Y that was slated to start production in the first half of 2025. This affordable model would be smaller and come with fewer features while being 20% cheaper to produce compared to the original.

Tesla still plans to produce 250,000 units of cheaper Model Y in the United States in 2026. However, the start of production will come at least a few months later than the company envisioned. The reasons for the delay remain undisclosed.

The EV giant reportedly also plans to produce the lower-cost Model Y in China and Europe while working on a cheaper version of Model 3 that will launch at a later date. 

The decision to introduce affordable models is part of Tesla’s strategy to address the slumping sales that the company faced in early 2025. It previously reported a 13% drop in sales for the first three months of the year, marking its worst quarter since 2022. Tesla’s stock has taken a hit as a result, being 36.36% down year-to-date.

The post Tesla Delays the Launch of U.S.-Made Affordable EV appeared first on theprimarymarket.com.

Netflix grew its revenue 13% for the first quarter of 2025, reporting $10.54 billion compared to $10.52 billion expected by analysts. The company’s earnings per share came at $6.61 compared to expectations of $5.71 in EPS.

Netflix stock was largely unscathed by the broader dip in the stock market. It jumped by 1.19% on Thursday, closing at $973.03 per share and being 9.73% up year-to-date. It gained another 3.47% in extended trading.

Wall Street analysts now believe that Netflix stock could be a “safe haven” for investors in the volatile stock market. Bank of America’s Jessica Reif Ehrlich said in a note that Netflix is “predictable in an unpredictable world” and kept the Buy rating on the stock with a price target of $1,175.

Pivotal Research’s Jeff Wlodarczak said that Netflix is “likely to be highly resilient” even in the global recession scenario. He raised the stock’s price target from$1,250 to $1,350 while maintaining the Buy rating.

Oppenheimer’s analysts also raised their price target from $1,150 to $1,200 with an Outperform rating while Guggenheim analyst Michael Morris upped his price target to $1,150 from the previous $1,100.

The post Netflix’s Resilience Praised by Wall Street Analysts After Strong Q1 Earnings appeared first on theprimarymarket.com.

Nvidia’s stock, just like the entire U.S. stock market, has been hampered by the ongoing trade war caused by President Donald Trump’s sweeping tariffs. Still, Morgan Stanley’s analyst Joseph Moore said in a recent note that he and his team consider Nvidia to be well-positioned to weather the possible challenges in the long run.

“Our view is that the microeconomic impacts for NVIDIA are fairly minimal, particularly because near-term demand remains strong and is already being mitigated; the risk is macro deterioration impacting investment financing,” Moore wrote in a note sent to clients on Thursday.

He added that the ongoing spending on AI chips, a market overwhelmingly controlled by Nvidia, and “relative supply chain flexibility” will help the company outperform “even in a higher tariff environment.”

Moore kept the “Top Pick” designation on Nvidia’s stock alongside an “Overweight” rating and a price target of $162 per share.

After tumbling as low as $94.31 per share last week, Nvidia’s stock rebounded 17.62%. It closed at $110.93 per share but still remains 19.80% down year-to-date.

The post Morgan Stanley Remains Bullish on Nvidia Stock as its “Top Pick” appeared first on theprimarymarket.com.

“I have authorized a 90-day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” Trump said on his social media platform Truth Social.

Speaking with reporters later in the day, Treasury Secretary Scott Bessent said that reciprocal tariffs were a “successful negotiating strategy” while explaining that the 90-day pause actually means the return of the baseline 10% tariff rate.

Shortly after Trump’s announcement, the U.S. stocks embarked on a ferocious rally. The benchmark S&P 500 soared 9.52% or 474.13 points to close at 5,456.90. This was the biggest single-day gain for the index since 2008.

Meanwhile, the tech-heavy Nasdaq Composite recorded its second-biggest daily gain in history. It improved by 1,857.06 or 12.16% to close at 17,124.97 points.

The blue-chip Dow Jones Industrial Average jumped by 7.87% or 2,962.86 points and ended Wednesday’s session at 40,608.45.

Overall, more than 30 billion shares, worth $1.5 trillion, were traded on Wednesday, marking Wall Street’s record in the last 18 years of available data.

The post U.S. Stocks Bounce Back in a Big Way Thanks to 90-Day Pause on Tariffs appeared first on theprimarymarket.com.

The sell-off intensified on Wednesday after President Donald Trump introduced sweeping tariffs against major U.S. trade partners. It was further fueled on Friday after China responded with the introduction of 34% tariffs on all imports from the U.S.

The Dow Jones plunged by 5.50% or 2,231.07 points to close at 38,314.86. This was the first time ever that the index lost 1,500 points in back-to-back trading sessions. It is 7.41% down for the week and more than 14% down since its record high in December.

Nasdaq, on the other hand, lost 962.82 or 5.82% to end Friday’s session at 15,587.79. It slipped 8.55% for the week and has now lost roughly 23% from December’s all-time high. This puts it in the bear market territory, according to Wall Street’s definition.

The benchmark S&P 500 closed at 5,074.08 after a 322.44 or 5.97% dip. It is 8.21% down for the week and 17% down from February’s record.

Experts believe that the stock market is close to bottoming out but that the long-term consequences will be significant.

“While the market may be close to the bottom in the short-term, we are concerned about the impact of a global trade war on long-term economic growth,” Emily Bowersock Hill, the CEO of Bowersock Capital Partners, told CNBC in an interview.

The post Dow Jones Crashes More Than 2,200 Points, U.S. Stocks Endure Their Worst Week Since 2020 appeared first on theprimarymarket.com.

Kostin initially set a 6,500-point target for the S&P 500 before reducing it to 6,200 points in early March. Now, he believes that the 5,700 points target is more appropriate, taking into consideration the increasing risk of recession as well as uncertainty caused by the changes to tariff policy.

Kostin also noted that the S&P 500 could sink much further in the trend of deteriorating growth outlook and investor confidence persists.

“If the growth outlook and investor confidence deteriorate even further, valuations could decline much more than we forecast,” Kostin wrote. “We continue to recommend investors watch for an improvement in the growth outlook, more asymmetry in market pricing, or depressed positioning before trying to trade a market bottom.”

Kostin’s target put the S&P 500 on track for marginal growth for the rest of 2025. The benchmark index closed at 5,580.94 points on Friday following a 112.37-point or 1.97% drop. It has been 4.90% down since the beginning of the year.

The post Goldman Sachs Lowers S&P 500 Target to 5,700 on Recession Risk and Tariff-Related Uncertainty appeared first on theprimarymarket.com.

23andMe has been recently going through a rough patch, being forced to lay off 40% of its employees in November while halting projects related to the development of therapies. The company is now looking to sell itself and believes Chapter 11 will help speed up the process.

“After a thorough evaluation of strategic alternatives, we have determined that a court-supervised sale process is the best path forward to maximize the value of the business,” Chair Mark Jensen said in a statement.

Wojcicki made several attempts to take the company private again, but her takeover proposals have been rejected by the 23andMe board. Back in February, she offered $2.53 per share, valuing the company at around $75 million. She then came back with another bid earlier this month, offering $0.41 per share.

Following the bankruptcy filing, Wojcicki, who kept her board of directors seat, said she would make a new offer.

23andMe stock closed at $1.79 per share on Friday, already being down 49.58% since the start of the year. It plunged by another 43.58% in Monday’s pre-market trading.

The post 23andMe Files for Bankruptcy, Stock Crashes appeared first on theprimarymarket.com.

Buffet said that the only Berkshire board members who were informed about the decision were his children, Susie and Howard. He added that he expects Greg Abel, vice-chairman of the company’s non-insurance operations, to succeed him in the role.

“I think the time has arrived where Greg should become the chief executive officer of the company at year-end,” said Buffett.

Greg Abel joined Berkshire Hathaway in 1999 when the company bought MidAmerican Energy, where he served as president. He became MidAmerican’s CEO in 2008, serving in the position for a decade before transitioning to Vice Chairman of Non-Insurance Businesses role and assuming a seat on Berkshire’s board of directors.

Buffett added that he intends to remain involved in the company in some capacity and won’t sell any of his Berkshire shares.

“I would still hang around and could conceivably be useful in a few cases. But the final word would be Greg’s,” Buffett shared. “… I would add this, the decision to keep every share is an economic decision because I think the prospects of Berkshire will be better under Greg’s management than mine.”

Buffett acquired Berkshire Hathaway, which was originally a textile manufacturer, in 1965 and became its CEO in 1970. He quickly transformed it into a conglomerate and positioned it as one of the most powerful companies in the world thanks to smart and timely investments. Today, Berkshire Hathaway’s Class A stock is worth $809,350 per share. Class B shares trade at $539.80 per share.

The post Warren Buffett to Step Down as Berkshire Hathaway CEO at the End of 2025 appeared first on theprimarymarket.com.

Microsoft reported $3.46 in earnings per share, marking an 18% year-over-year increase, compared to an estimated $3.22. Its revenue jumped by 13% compared to the same period last year and came to $70.07 billion while Wall Street analysts expected $68.42 billion.

The company mostly benefited from the strong performance of its cloud business, which saw a 20% year-over-year increase. The revenue associated with its cloud computing platform Azure grew by 33%, with AI contributing 16 points to the growth. Analysts expected Azure’s revenue to jump by around 30% and AI to contribute 15.6 points of growth.

“We delivered a strong quarter with Microsoft Cloud revenue of $42.4 billion, up 20% (up 22% in constant currency) year-over-year driven by continued demand for our differentiated offerings,” Microsoft executive vice president and CFO Amy Hood shared in a statement.

Microsoft stock closed at $395.26 per share on Wednesday, being 5.57% down year-to-date. The stock then took off in the after-hours, reaching $429.60 per share at one point.

Several other tech stocks rose in the aftermath. Shares of chipmaker Nvidia jumped by 4%, Amazon’s stock rose by 3.08%, and shares of Meta Platforms jumped by 4.2%.

The post Microsoft Stock Soars on Better-Than-Expected Q3 Earnings appeared first on theprimarymarket.com.

Chipotle had $0.29 in adjusted earnings per share compared to $0.27 in adjusted EPS expected by analysts. Its revenue came at $2.88 billion, marking a 6.4% jump compared to the same period last year but falling short of an estimated $2.95 billion.

Arguably the most worrying thing for the investors was the same-store sales decline in Q1. Chipotle recorded a 0.4% dip while analysts estimated growth of 1.7%. This was the first quarter in which Chipotle’s same-store sales declined since 2020.

According to CEO Scott Boatwright, the poor results can be attributed to more cautious spending of Americans in an uncertain economic environment. 

“We could see this in our visitation study, where saving money because of concerns around the economy was the overwhelming reason consumers were reducing the frequency of restaurant visits,” Boatwright said during a conference call with analysts.

Chipotle has now decided to lower its forecasts for 2025, projecting same-store sales growth in the low-single-digit range compared to the previous prediction of the low-to-medium single-digit range. The company still intends to open between 315 and 345 new locations by the end of the year.

Chipotle’s stock jumped by 3.57% on Wednesday to close at $48.76 per share but still remained 18.58% down year-to-date. Following the earnings report, the stock erased most of its gains and dipped by 2%.

The post Chipotle Misses on Revenue and Same-Store Sales, Stock Slides appeared first on theprimarymarket.com.

Tesla initially planned to produce a brand new model that would cost $25,000 before changing course in order to focus on the development of robotaxis. Instead, the carmaker decided to offer a “stripped-down” version of its popular Model Y that was slated to start production in the first half of 2025. This affordable model would be smaller and come with fewer features while being 20% cheaper to produce compared to the original.

Tesla still plans to produce 250,000 units of cheaper Model Y in the United States in 2026. However, the start of production will come at least a few months later than the company envisioned. The reasons for the delay remain undisclosed.

The EV giant reportedly also plans to produce the lower-cost Model Y in China and Europe while working on a cheaper version of Model 3 that will launch at a later date. 

The decision to introduce affordable models is part of Tesla’s strategy to address the slumping sales that the company faced in early 2025. It previously reported a 13% drop in sales for the first three months of the year, marking its worst quarter since 2022. Tesla’s stock has taken a hit as a result, being 36.36% down year-to-date.

The post Tesla Delays the Launch of U.S.-Made Affordable EV appeared first on theprimarymarket.com.

Netflix grew its revenue 13% for the first quarter of 2025, reporting $10.54 billion compared to $10.52 billion expected by analysts. The company’s earnings per share came at $6.61 compared to expectations of $5.71 in EPS.

Netflix stock was largely unscathed by the broader dip in the stock market. It jumped by 1.19% on Thursday, closing at $973.03 per share and being 9.73% up year-to-date. It gained another 3.47% in extended trading.

Wall Street analysts now believe that Netflix stock could be a “safe haven” for investors in the volatile stock market. Bank of America’s Jessica Reif Ehrlich said in a note that Netflix is “predictable in an unpredictable world” and kept the Buy rating on the stock with a price target of $1,175.

Pivotal Research’s Jeff Wlodarczak said that Netflix is “likely to be highly resilient” even in the global recession scenario. He raised the stock’s price target from$1,250 to $1,350 while maintaining the Buy rating.

Oppenheimer’s analysts also raised their price target from $1,150 to $1,200 with an Outperform rating while Guggenheim analyst Michael Morris upped his price target to $1,150 from the previous $1,100.

The post Netflix’s Resilience Praised by Wall Street Analysts After Strong Q1 Earnings appeared first on theprimarymarket.com.

Nvidia’s stock, just like the entire U.S. stock market, has been hampered by the ongoing trade war caused by President Donald Trump’s sweeping tariffs. Still, Morgan Stanley’s analyst Joseph Moore said in a recent note that he and his team consider Nvidia to be well-positioned to weather the possible challenges in the long run.

“Our view is that the microeconomic impacts for NVIDIA are fairly minimal, particularly because near-term demand remains strong and is already being mitigated; the risk is macro deterioration impacting investment financing,” Moore wrote in a note sent to clients on Thursday.

He added that the ongoing spending on AI chips, a market overwhelmingly controlled by Nvidia, and “relative supply chain flexibility” will help the company outperform “even in a higher tariff environment.”

Moore kept the “Top Pick” designation on Nvidia’s stock alongside an “Overweight” rating and a price target of $162 per share.

After tumbling as low as $94.31 per share last week, Nvidia’s stock rebounded 17.62%. It closed at $110.93 per share but still remains 19.80% down year-to-date.

The post Morgan Stanley Remains Bullish on Nvidia Stock as its “Top Pick” appeared first on theprimarymarket.com.

“I have authorized a 90-day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” Trump said on his social media platform Truth Social.

Speaking with reporters later in the day, Treasury Secretary Scott Bessent said that reciprocal tariffs were a “successful negotiating strategy” while explaining that the 90-day pause actually means the return of the baseline 10% tariff rate.

Shortly after Trump’s announcement, the U.S. stocks embarked on a ferocious rally. The benchmark S&P 500 soared 9.52% or 474.13 points to close at 5,456.90. This was the biggest single-day gain for the index since 2008.

Meanwhile, the tech-heavy Nasdaq Composite recorded its second-biggest daily gain in history. It improved by 1,857.06 or 12.16% to close at 17,124.97 points.

The blue-chip Dow Jones Industrial Average jumped by 7.87% or 2,962.86 points and ended Wednesday’s session at 40,608.45.

Overall, more than 30 billion shares, worth $1.5 trillion, were traded on Wednesday, marking Wall Street’s record in the last 18 years of available data.

The post U.S. Stocks Bounce Back in a Big Way Thanks to 90-Day Pause on Tariffs appeared first on theprimarymarket.com.

The sell-off intensified on Wednesday after President Donald Trump introduced sweeping tariffs against major U.S. trade partners. It was further fueled on Friday after China responded with the introduction of 34% tariffs on all imports from the U.S.

The Dow Jones plunged by 5.50% or 2,231.07 points to close at 38,314.86. This was the first time ever that the index lost 1,500 points in back-to-back trading sessions. It is 7.41% down for the week and more than 14% down since its record high in December.

Nasdaq, on the other hand, lost 962.82 or 5.82% to end Friday’s session at 15,587.79. It slipped 8.55% for the week and has now lost roughly 23% from December’s all-time high. This puts it in the bear market territory, according to Wall Street’s definition.

The benchmark S&P 500 closed at 5,074.08 after a 322.44 or 5.97% dip. It is 8.21% down for the week and 17% down from February’s record.

Experts believe that the stock market is close to bottoming out but that the long-term consequences will be significant.

“While the market may be close to the bottom in the short-term, we are concerned about the impact of a global trade war on long-term economic growth,” Emily Bowersock Hill, the CEO of Bowersock Capital Partners, told CNBC in an interview.

The post Dow Jones Crashes More Than 2,200 Points, U.S. Stocks Endure Their Worst Week Since 2020 appeared first on theprimarymarket.com.

Kostin initially set a 6,500-point target for the S&P 500 before reducing it to 6,200 points in early March. Now, he believes that the 5,700 points target is more appropriate, taking into consideration the increasing risk of recession as well as uncertainty caused by the changes to tariff policy.

Kostin also noted that the S&P 500 could sink much further in the trend of deteriorating growth outlook and investor confidence persists.

“If the growth outlook and investor confidence deteriorate even further, valuations could decline much more than we forecast,” Kostin wrote. “We continue to recommend investors watch for an improvement in the growth outlook, more asymmetry in market pricing, or depressed positioning before trying to trade a market bottom.”

Kostin’s target put the S&P 500 on track for marginal growth for the rest of 2025. The benchmark index closed at 5,580.94 points on Friday following a 112.37-point or 1.97% drop. It has been 4.90% down since the beginning of the year.

The post Goldman Sachs Lowers S&P 500 Target to 5,700 on Recession Risk and Tariff-Related Uncertainty appeared first on theprimarymarket.com.

23andMe has been recently going through a rough patch, being forced to lay off 40% of its employees in November while halting projects related to the development of therapies. The company is now looking to sell itself and believes Chapter 11 will help speed up the process.

“After a thorough evaluation of strategic alternatives, we have determined that a court-supervised sale process is the best path forward to maximize the value of the business,” Chair Mark Jensen said in a statement.

Wojcicki made several attempts to take the company private again, but her takeover proposals have been rejected by the 23andMe board. Back in February, she offered $2.53 per share, valuing the company at around $75 million. She then came back with another bid earlier this month, offering $0.41 per share.

Following the bankruptcy filing, Wojcicki, who kept her board of directors seat, said she would make a new offer.

23andMe stock closed at $1.79 per share on Friday, already being down 49.58% since the start of the year. It plunged by another 43.58% in Monday’s pre-market trading.

The post 23andMe Files for Bankruptcy, Stock Crashes appeared first on theprimarymarket.com.