berkshire hathaway has closed a deal of 800 million shares on apple.aid to be backing a group bidding for yahoo! core assets. is our bloomberg news reporter who covers berkshire hathaway and apple. is warren buffett changing his tune? >> i'm sure we would all love to know the answer. we need to put these things in perspective. when it comes to apple, we are talking about $1 billion which for you and i would be a lot of money but for berkshire hathaway, it's not that much. they have stakes and wells fargo and craft times that are worth $20 billion so $1 billion is relatively small. when it comes to yahoo!, we are talking about financing for the takeover. this is something that warren buffett has been doing for many years. he uses the berkshire hathaway resources to back various company bids for other companies. attached to that is his reputation and he often gets favorable deal terms. aam looking at that more as financing arrangement and not necessarily a long-term bet on yahoo!, the stock. betty: as far as apple, is it likely that it's not him so much

ofs is, there is not a lot turn in the berkshire portfolio.s likely this position will be on the books for a while. all right, thank you so much. a lot of news to cover with apple and the yahoo! news as well. he covers berkshire anne hathaway for us. warren buffett for us. we seem oil rallying the highest in six months. -- goldman sachs raised its price and said they saw supply deficit sooner than expected. wti above $47, brent at $49 and change. we talked to julia lee, the first world oil strategist joining us with more from london. julian, thank you for sticking around at bloomberg. let me ask you what you think about goldman's forecast. the bank has trouble with its asset class forecasts, but are they on the money here? reporter: we have certainly seen the things they pointed out. we saw strength in demand growth being reported by the international energy agency. they raised their assessment of first quarter demand growth. they have not really done much with the four-year demand growth picture yet. they have shifted things around of some of

vice-chair of berkshire hathaway, charlie monger, 92 years old. young pup of this group. >> i'm the kid. liz: you're the kid. great to have you both. don't sell first day of day. market set for nice gains. here is the closing bell. [closing bell rings] melissa, dave asman pick it up from here. melissa: stocks climbing this afternoon. the dow ending the day up triple digits. i'm melissa francis. david: i'm david asman, this is "after the bell." at this hour, we are one day away from crucial voting in indiana. the candidates barnstorming across the state, marking their final pitches to voters there. donald trump is expected to take the stage any moment in carmel, indiana. meanwh an animated exchange with one of donald trump's supporters in marion, indiana. cruz fighting to keep his composure as protesters shout insults. we'll play some of that coming up. melissa: donald trump is aimin

moves that other berkshire is making this moving -- this morning, we are seeing some decreases for berkshirealmart. at&t, in which berkshire was a fairly significant holder, that state is being eliminated entirely. that is notable, as well. there is the situation with yahoo! that we have been talking about this morning trade there is news that redshirt is backing a group led by 10 gilbert of quicken loads -- dan gilbert of quicken loans. there are about 10 bidders in the running for yahoo!. 4-8ial bids range from million dollars. it is interesting that berkshire would be identifying -- appling in technology in that way as well. it has been a long-running situation with yahoo!. we will find out eventually who will be the winner in that process. >> joining us to talk about the wider markets is jonathan. it as a, you spoke of weapon will market. >> we know it started with energy and materials in the late 2014. we saw it moved to some biotech. earlier, it was financials. we have seen some many markets that have just not happen at the same time. it is cap the overall market in this neutral tradin

berkshire hathaway holds almost 10 million apple shares.ock closed more than 3.5% higher, apple lost nearly 30% of its market value since the last summer. here is juliette monitoring the markets opening. are we seeing them join in the buying theme? juliette: certainly on the hang seng which was a pretty erroneous day when we saw the unexpected plunge. the hang seng is up for tens of 1%, pretty flat on the shanghai market. it did not react to the move we saw. singapore is looking pretty good. we saw electronic and nonoil exports for april fall, but higher by 6/10 of 1%. a little bit of a pickup on the philippines. korea's index is still flat although it has turned back into n fallack after the yua to a two month low against the dollar. some good news on the nikkei 225. we have a weaker yen ahead of the first quarter gdp numbers out of japan tomorrow. good news coming out of those as up 4.7% which is what we are seeing across the region. it is the story of oil and gas players leading the gains. rebounding crude holding a month -- holding alon

deals for berkshire to be doing.get paid generally a pretty high interest rate. so it is wonderful to see, they've told me to see that up and running and still in effect. when it comes to apple, a lot of were notid they confused. in a value investors mine, it looks like a cheap stock. they have a lot of cash and it's an opportune time to buy. betty: thank you so much. we will talk in mandate, something buffet knows a lot about. pfizer getting back into the dealmaking date -- we will talk m&a. we will break down the deal, next. ♪ betty: a quick check on how the markets are trading, as we've seen this rally take hold. bouncing back from losses last week. it's time for the bloomberg business flash, a look at some of the biggest is the stories in the news right now. convert $3.7 billion in long-term debt into equities while allowing the company to keep its operations going. sandridge filed chapter 11 in u.s. bankruptcy court. saidil and gas producer has put on hold most of its debt. a $3.3 billion all stock deal. it's va

i'm becky quick reporting from where the berkshire at that way meeting is under way. how you save for retirement. the strategies that have guided the world's greatest investor. the ceo of sole. what's it like to work for warren and is he the world's greatest boss, too. >>> is zika virus in your vacation plan? what it could mean to summer travel. >>> and believe it or not, not for your pets. cure what ales them and is it a good idea? >>> and started swinging again. >> "on the money" starts right now. >> announcer: this is "on the money." your money, your life, your future. now, becky quick. >> we begin with the z though the outbreak may be far from middle america here in omaha, it's still top of mind. it's now found in 66 countries and spreading and can cause devastating birth defects. as summer travel season begins, it's impacting tourists around the world. that's our cover story. while the mosquito-borne disease, brazil is the ground zero for the outbreak and it will be home for the summer olympics starting in three months. the tiny mosquito could have a huge impact

buffet has tapped them to eventually take over his duties of investing berkshire's funds. he pointed out they may not have the same views he does. they don't talk about it often but he wouldn't be surprised if they didn't feel the same way or have other places they'd rather redeploy that money. also what's happening in politics. as you know, it's been an interesting race to watch. it will be one he's been paying attention to. buffet has been outspoken about his view on politics. when it comes down to it he doesn't think who's elected president has a huge impact on the future of america or of berkshire hathaway. >> you ask me whether electing the wrong president can permanently damage the u.s. economy, the answer months. th the answer is no. this country will move forward regardless. there's no need to make america great again. this country is as great as it's been at any point. but it's going to become ever greater. this country works and works in a way that blows the mind. >>> a familiar face to all of us here, senior special correspondent at "fortune" has also been atten

with berkshire, that carries some clout to it. when you look at the markets right now, you were just touching on this, this rotation, it continues to be this rotation. how about the fact the xle, the energy, we talked about this being absolutely battered. now it just cannot break below some of those moving averages. it hits near that 65 level, we popped right back off of that. you look at energy just sglin general -- >> two best stocks in the dow, chevron and exxon. who would have said that? >> especially in february. look at the pipelines, the way they are performing as well. across the board, it's been energy. then you start to look at what are the other areas, where are they rotating out of? they are rotating out of retail last week, absolutely got slaughtered. yet today, it seems like they are coming after some of the banks, after some of the international, and obviously you can see energy once again. >> if the biggest stock in the market itself has a berkshire backstop, which some people are saying this is -- >> are we callin

berkshire's $1 billion bet on apple. if history is any indication buffett buffett's bets don't always turn out for the best. we'll discuss that. first, we start off with a rally. while everyone was obsessing over berkshire's latest buy, what really drove the market today is what's been driving it all year long. that is a rally of energy and materials. this was called the dash for trash trade. is it now the global recovery trade. >> it's the global reflation trade. whether it means the world's okay or not, i think are two different questions. whether these things were oversold or not is part of the story. the fact that i think commodities have put their bottom end, and that's -- i'm not going to hedge it saying it depends on what the dollar does. we come to a place where a lot of supplies have been taken offline. you've taken a lot of supply in the oil space. you've got bankruptcies. places that things that people wanted to see you have the ridge count numbers, doha collapsed, and here you have oil. i think it's telling y

are equally important to berkshire's growth.ecently sat down with two men in omaha about the secrets of working together. >> obviously, we like each other a lot. we have minds that work the same way to a great degree. we find the same things quite humorous. we find the things we deplore, we agree on. we've never had an argument. we've had lots of disagreements. whatever we disagree, charlie said, you'll end up agreeing with me because you're smart and i'm right. and the answer to that, 56 years of practice. and in fact, i would say every time with charlie, i've got at least some new idea that causes me to rethink certain things and we've had absolutely so much fun in the partnership over the years. it's been almost hilarious. it's been so much fun. >> you know, when we sat down, warren to charlie, you said to me, charlie being around makes me not only smarter but better. >> well, we both have the theory that hang around good people, always behave better every year you behave the previous year. and as in the world, it's particula

berkshire hathaway has taken a new stake in apple. berkshire owns 9.8 million shares. into the tech giant was not his. he said either ted or todd, two of his lieutenants, one of those two made the decision. apple shares are up today. but the purchases were made in the first quarter. i think it was just under $93 during the first quarter. had much higher periods. right now 91.95. >> he know which is one. he didn't tell us. he said not his decision. >> depending on how it works -- >> i remember we asked during the meeting, you know, was there any stake that you wanted to signal or identify or great success and he didn't want to -- oh, for todd or ted. yeah. >> the shareholders asked. >> he did give todd lots of kudos for bringing the company precision which i think is the largest or second largest -- >> right. >> $37 billion and didn't give the other guy kudos. >> it was one of todd's companies. >> last year he gave ted kudos for bringing him a german company. they do more than just invest dollars. they have a portfolio of about $8 billion. you can't read anything in. >>

improve berkshire. year?ut you, a goal for t >> we've got something going here that's keep going to go more or less the way it has under us. long after we're gone. i don't think berkshire is going to change. >> thank you both for your time today. we really appreciate it. up next, we're on e money. >>> working moms a growing part of the labor market. how companies are changing and how to find the right one. look at how the stock market ended everhas a number.olicy but not every insurance company understands the life behind it. for those who've served and the families that have supported them, we offer our best service in return. usaa. we know what it means to serve. get an insurance quote and see why 92% of our members plan to stay for life. well, this is the time. and your ford dealer is the place to get into a new ford escape. escape leads the way with the convenience of a foot-activated rear liftgate. plus, the power and efficiency of ecoboost technology. you'll find a full lineup of ford suvs designed to h

i think so but berkshire's experienced technological before.om bill gates. we had a wonderful company that made a wonderful encyclopedia. bill gave away a free ensi encycloped encyclopedia. away went a large part of our products from the encyclopedia forever. >> he's a traitor. that's right. >> and it helped him. it helped him make the fortune and now he destroyed it. that's the way he is. >> bill, let's talk about microsoft. they came in and a lot of people scratched their head. didn't know too much didn't expect him. he's done a pretty phenomenal and the stock has come up sharply. why do you think microsoft is really resonating so much on wall street these days? >> well, i think the software industry as a whole has so much opportunity to improve things, and there are key aspects of like that, like the office software where microsoft is the leader. and there's so many more things that can be done. in the cloud we have number of companies including amazon doing a great job. microsoft having some special enterprise support there, just, is really

berkshire's $1 billion bet on apple.ny indication, buffe buffett's bets don't always turn out for the best. we'll discuss that. first, we start off with a rally. while everyone was obsessing over berkshire's latest buy, what really dro

berkshire hathaway took a big huge new stake in apple.lls cnbc it is now completely out of apple. others have dissolved stakes in apple. >>> as apple stock continues to climb today, there's another name on wall street that sees down side ahead. they have been bearish ever since. let's bring in eric ross, chief investment strategist. are you, my friend, ready for the onslaught of fan boy anger because you dare to be bearish on apple with your $82 price target? why no negative? >> it's a great company. you know, it's going to eventually grow out of it. now we're at a point where we have a product cycle issue. we have the channel that is very confused. we have issues in china. it's going to probably go down. you have technical issues pushing it down as well. >> yeah. and it's not just going down. i mean you got -- the $82 target, what is that, i don't know, 15%, 17% below where the stock is right now. >> it's struggling to day, of course. >> you get the buffet bounce. that is not changing your thesis. >> not at all. buffet bought it last qua

we will break down the berkshire-apple connection.pple turned heads when it jumped into the passenger seat with didi. we will have details on a potential ipo. amazon is reportedly working on its own private labels for things like baby products, snacks, and household items. there is a launch planned for next month. first to our lead, warren buffett, the oracle of omaha, has disclosed a $1 billion stake in apple, announcing it bought 9.8 one billion shares sometime in the first quarter. buffett has historically stayed away from tech, saying he doesn't understand it. in late 2011, buffett acquired a 5% stake in ibm. shares are down some 20%. apple shares popped on news of buffett's buy, but the road ahead for apple isn't shiny. carl icahn just disclosed he no longer has a stake in the company. joining us to discuss, shira ovide from new york as well as reporter noah bureau how. i will start with you. what buffett has said is one of his two investment managers made this investment and didn't consult him on it. what do you read into this b

together they built berkshire hathaway into one of the most successful companies. while one may be the more famous name both are equally important. i sat down with the two men in omaha and asked about the secret of more than 50 years working together. >> obviously we like each other a lot. we have minds that work the same way to great degree. we find the same things quite humorous. we find the things we deplore, we agree on. we've never had an argument. lots of disagreements. whenever we disagree, charlie says, well you'll end up agr agreeing with me because you're smart and i'm right. i haven't figured out the answer to that yet with 56 years of practice. i would say every time i'm with charlie i have at least some new slant on an idea that causes me to rethink certain things and we've had absolutely -- we've had so much fun in the partnership over the years. >> it's been almost hilarious. it's been so much fun. >> when we sat down, warren said charlie, said to me, charlie being around makes me not only smarter, but it makes me behave better. >> well, we both have

td ameritrade. >>> we've got an earnings alert on berkshire hathaway. let's get to seema mody in the newsroom. seema? >> warren buffett's conglomerate reported earnings of $2,585 per share. $1.13 billion due in part to a rise in natural disasters. berkshire's railroad business was hurt by a reduction in shipments of coal. all in all, operating profits dropped in the quarter. also significant, book value for class a share up 1.2%. keep in mind, preliminary numbers were reported last week at the annual berkshire hathaway meeting. class a shares trading at or around $217,000. >> thank you very much, seema mody. obviously his business, owns many different kinds of businesses. transports in today's session was a real standout. >> that's right. this is highly correlated to that. despite the candy and all the other good stuff. it's an underperformer for the better part of the last 18 months. huge ricochet off the low. like disney or anything else, it's middling. is it already gone too far in risk of coming back? or more to come? i would say this is priced fair

i love the idea of a handoff between carl icahn and berkshire.questions about whether berkshire scooped it up at just the right time. scarlet: greenlight capital coming out with new announcements. they are no longer showing or garmin.ei we mentioned earlier they added . position to help as well based increase their stakes in apple, yahoo!, macy's, and yelp, all in the first quarter. they have some new positions as well. fromther headlines here elliott, which is run by paul and out,nd semantic all in the first quarter. also noble. joe: and also pfizer, a new position there. the headlines are coming out fast and furious right now. the one we paid attention to today was apple and warren buffett. global mention tiger tearing back at apple stock. up, core still in coal output dragging in production in china. china facing new pressure to support its economy. we discussed, next. ♪ shery: welcome back. let's go to first word news. the u.s. supreme court issued decisions and new orders today. contraceptivea coverage under obamacare. they are sending it ba

it's a factor in berkshire.rter of a percent or less, one point on 60 billion $600 million a year. >> geez. >> if we were getting three or four percent on that money, that's a couple billion dollars to us. >> yeah. >> and, you know, you notice it. >> so in that answer, jeff, i mean he is making a sound point of why he is investing in the banks. and he's giving investors everywhere, as he usually does, a good reminder that it is about the long-term even though the bank troubles have been going on for a few years now. >> absolutely. i thought his bank comments at the meeting were great. and i also thought his analysis of the reinsurance business was fascinating. i thought that was the most interesting part of the meeting coming out of warren buffett. if you didn't want to short reinsurance when you went to the meeting, you sure did coming out overit. and i thought that was a great part of the meeting. great analysis. >> jeff, you know, i was wondering when you talk about his unwillingness to get into any depth abo

is berkshire hathaway recognizing that apple is the ultimate value play? >> i believe it is a tremendous value play. i'm strongly in warren buffett's camp on this particular thing. it's got -- it's got no growth for the next year, i suspect, and who knows for how long thereafter. but at 2.5% yield, extraordinary cash flow. i think great management. and you know, there really is an opportunity either around automobiles or something else that will create a next big thing, maybe not for a few years but i don't think at this point with a 2.5% yield it makes any difference. >> the stock is up 3.5%, the 13 filings are usually lagging indicators because the actions took place during the quarter. but you have icahn getting out, tepper getting out, berkshire getting in and we just got news that leon cooperman is getting in. >> exactly. the buyers now, i think roger basically isolated the thesis here. it's not anybody who is claiming to have a great fundamental edge on exactly how many units are going to be sold or exactly what the trajectory of the next year or two

and speaking of berkshire hathaway, it is backing one of the many bids for yahoo!. the effort led by dan gilbert of quicken loans, but berkshire is involved as well. pfizer today, it is acquiring and a core, a maker of -- annacore. it is surging on that. and a deal in the energy industry. the range of resources requiring memorial development. this $3.2 billion or $4.4 billion if you add in the debt, these resources have surged heading into today. i know that is one of your topics, alix steel. he talked about, there has not been much dealmaking in energy. companies have debt, why would another company want to take that debt on? good stuff. scarlet: thank you so much. let's check in with the first word news. shery ahn has more from the newsroom. shery: voters go to the polls in oregon and kentucky tomorrow. hillary clinton is as that eight training center in louisville. bernie sanders is also in the state. he is talking about the worsening debt crisis i have the primary coming up on june 5. donald trump says for to senator marco rubio is not on the consideration to be

according to regulatory filings, this is berkshire's first investment in apple. this decision was not made by buffett himself but by one of his two deputies. apple shares moved more than 3.5% higher, its best day since march. >>> the berkshire hathaway stake in apple comes as tim cook began a tour of china. that's the second biggest market for the company. cook visited one of apple's main stores in downtown beijing and was accompanied by the president of the china's popular ride-hailing company which apple invested a billion dollars in just last week. apple's business has come under pressure in china recently because of the slowing of the economy and increased competition and a government clampdown on some of it is services, including itunes and ibooks. >>> pfizer is buying anacore pharmaceuticals. this deal comes one month after pfizer scrapped plans to purchase allergan for $160 billion. some day the deal represents a shift in strategy, one that focuses on strengthening its pipeline of drugs ahead of the decision to sell or spin off the generic business. shares

speaking of apple, berkshire hathaway took out a $1 billion stake in the company.es buffett see in apple? ♪ david: and this is "bloomberg markets." i'm david gura. it is time for the bloomberg business flash. the u.s. supreme court has rejected an appeal from exxon 230 $6nd leaves intact a million jury award to the state of new hampshire on claims a gasoline additive contaminating the state groundwater. exxon argued the court improperly let the state use statistical evidence of contamination to prove its case. today"lisher of "usa good that has increased its takeover offer of tribune publishing. pre-pandemic card company green. will split the roles of chairman and ceo. an independent chairman will be named after the annual meeting. that is your business flash update. warren buffett is known for buying stakes in companies he knows well. tech stocks,avoids saying he does not understand the industry. berkshire hathaway recently got a stake in apple. emily chang is with us from san francisco. let's start by putting this into context. berkshire hathaway has recently tha

he uses berkshire's resources to back companies bid for other companies. i am looking at that moore as a financing relationship and not a long-term bet on yahoo!. >> hedge fund managers and -- andgiving investors decipher some market trends. what are the big names that stand out and everyone jumps off the back? some stuffift from that had been working for a while. the biggest draw down was in the health care space and the financials. last quarter at the end of 2015, you had about seven out of 10 sectors had pulled money out. this time it was pretty positive in that there was a fair amount of money more going into the stocks. we had utilities, as we expected to see, a lot of people adding to those stocks. betty: a headline that came across this morning with george soros cutting his equity holding by about one third i believe, and taking an enormous stake, over $260 million in gold. what do you make of that? disagree, sotally for my perspective we are seeing growth around the world but it is not being discounted properly by equity markets. fear trade is caus

so i worry about that a little more but still in the scheme of the size of berkshire hathaway, berkshireas lost 3, 4 billion. that's real money but it is sort of a rounding error at berkshire. >> so there you have it. not a position that many i think at this point probably disagree with. >> well yes. but how many times in the past has warren buffett held on to a -- warren buffett is famous for betting the jockey. he bets the management of the company. >> and that is come up with meg bitman and hewlett packard and has gone from one company into kind of three. yesterday we were saying is that an example of the right way to go about steering the ship as the big stayed company in the space? obviously there is not a right answer at the moment but berkshire is the biggest position in case capital -- >> and it's interesting to -- in the context of this investment and in apple as whitney's discussing there how they make their investment decisions, how independent some of those managers are inside the berkshire hathaway structure. i find that very interesting. >> z like when you are a good coach.

he uses berkshire's resources to back companies bid for other companies.'m looking at that more as a financing relationship and not a long-term bet on yahoo!. the stock. >> hedge fund managers in focus, releasing their filings, giving them the chance to grab trading ideas and decipher some market trends. what are the big names that stand out and everyone jumps off the back? >> a big shift from some stuff that had been working for a while. the biggest draw down was in the health care space and the financials. those are the only two sectors that decreased their positions, whereas last quarter at the end of 2015, you had about seven out of 10 sectors had hedge fund managers pulled money out. this time it was pretty positive in that there was a fair amount of money more going into the stocks. on the flipside, we had utilities, as we expected to see, a lot of people adding to those stocks. consumers also did well. betty: a headline that came across this morning with george soros cutting his equity holding by about one third i believe, and taking an enormous sta

all huge issues with berkshire hathaway ceo and founder warren buffett and bill gates, and berkshireembers, considering gates is original tech guru, i asked him about the role tech is playing in the war on terror? >> social media is being used to recruit members for isis, bill. we have cell phones that can trip off suicide vests now. do you worry at this point that technology moves so quickly and so fast that it will be beyond the government's to stop it? >> i think mobile phones of course are used by good guys and bad guys, and there i think with the right policies, there's no big, big problem. the area that i worry about the most is more in the terrorists using weapons of mass destruction, nuclear and biological. that's where i, you know, hope that we're able to keep track of what people are doing in such a way that we avoid. that but the bad guy is getting the ability to have more impact because making a virus or making a bomb has gotten more approachable by a small group. liz: what do you think about that, warren? gps? drones? they're probably working right now. they, the terrori

warren buffett's berkshire hathaway disclosed a deal. >> when it comes to the oracle of omaha, a lotlace their stock bets. our own becky quick confirms it was one or both of his top stock picking lieutenants todd combs and/or tom wrestler that made the trade. both made it clear that portfolio managers have full discretion over the respective parts of the overall berkshire portfolio which mean they don't need buffett's permission to buy a stock. buffett himself has side away from making investment in technology companies. notable exception was that very massive bet on ibm stock that was definitely a personal pick from buffett. but even then, he said he's considered more of a services company, and not as much of a pure technology company. now, the question becomes whether the apple stake becomes more of a trade to manage around. or it becomes a core long-term holding. we know ibm hasn't been performing all that well since his investment. and apple stock took a big hit after their earnings report. only time will tell, so to check that out if you want to know more. back to you guys. >> w

berkshire hathaway annual meeting.ren buffett says salesmanship has masked poor returns for years. consultants have steered pension funds and others as the group underperformed. franklin templeton is increasing its investments in brazil, under the expected ousting of the president. spoke to our very own manus cranny. is fullyon't think it priced. i believe that, however, we have seen a big rise from the low point. when you are at a low point, percentage is great. but when you look at where we are headed to the previous highs, we've got a long way to go in brazil. manus: how much more can we go in brazil, 100%, 200%? mark: we can go higher in brazil. we will add money. rishaad: donald trump repeated that hillary clinton -- wasold foxnews if he -- she not a woman, she would not even be in the race. president obama made it clear who he thought would replace him. president obama: next year at this time, someone else will be standing here in this very spot, and it is anyone's guess who she will be, but -- rishaad: -- [laugh

and berkshire offered to be a potential partner in that bid.'m an enormous admirer of dan and what he has accomplished at quicken loans. yahoo is not the type of thing i'd ever be an equity partner in, but if dan needed proper financing protections, we would be a possible financing help. >> which he will be from time to time. and typically he gets very good terms does mr. buffett. >> yes, he does. >> listen, as i've said many times, the auction for yahoo's core business continues. it now of course is being overseen by a board of directors that includes jeff smith from starboard, one-time activist. and it will likely conclude let's call it where are we middle of may right now? let's say a month from now we should have a very good sense. verizon is still thought to be the leading bidder if they want to own it, many people believe they will emerge victorious. but price is going to be very interesting here in what we get. >> pick up the paper and there's pfizer going for it. right? pfizer buys -- >> we'll talk about that in a minute, yeah. >> but i

you were at the berkshire annual meeting where charlie munger called valeant quote, a sewer. mr.d the business model was enormously flawed. on cnbc this morni

berkshire hathaway and apple in the first quarter, we will have to see if that one continues to playdavid: what are some stocks boosting it by percentage? abigail: some of the top percentage performers in the nasdaq 100 include dollar tree, micron, and western digital. the best of those three is dollar tree. year earnings forecast raised by 7%. on this strength, the stock hit a record high, really taking out the selling pressure. it appears that strength just could be sustainable for the shares of dollar tree. shery: abigail doolittle at the nasdaq. with two otherg pharma companies, disclosed it received subpoenas aligned with the federal probe into the industry's relationship with charities to help people afford their products to -- products. toid: ben, it's good to talk you again. get us up to speed. what's happening since the last time we talked about this? ben: basically several pharma companies have disclosed they have been subpoenaed for documents relating to their relationship with these co-pay to charities who they themselves are funding. it is clear the feds are widening a p

we want anybody to buy berkshire to understand how we think.o we have a section in the back called the principles of berkshire hathaway. it says we will not sell controlled businesses unless they either have major labor problems or promise to eat up cash. >> that was warren buffett speaking to cnbc earlier this morning why he's not letting go of some of his biggest losers. ibm down 17%. american express, down 15%. wells fargo down 9%. and general motors down about 10%. wondering if some of these laggards in the portfolio are worth buying. >> you know what, i actually would buy one of them. it's going to be a shock to most people. ibm, i actually like that one. here's why. we talked in the beginning of the show about whether or not you want to buy valeant. this is a turn-around that is happening. so i feel like i have a much better probability. not only do they have watson, but i was in a bit coin conference, but they're into bit coin block change. they have two growth drivers. plus i get a dividend. i got it at a low price. yeah, i buy it. >> i

berkshire brought on new fund managers in the past few years.way. the stock jump helped the dow gain 175 points yesterday. all three averages adding 1%. a bit of relief rally to start the week as the market dropped the past three weeks. for today, dow futures are flat. the rise in oil is fading right now. stocks in europe are higher. shares in asia are finishing with gains. you will will get retail earnings today. i'm interested to see what they say. >> you really are interested? >> i actually am very interested. >> wicked fun to be christine romans. >>> air travelers missing flights across the country. long lines leaving passengers stranded and frustrated. there may be a solution. it may be expensive. we'll discuss how long it will last. we're out ink.nk. not ink. getting ink doesn't have to be painful. staples just cut ink and toner prices. add in our 110% price match guarantee and our prices are unbeatable. staples. make more happen. [alarm beeps] ♪ ♪ the intelligent, all-new audi a4 is here. ♪ ♪ ain't got time to make no apologies...♪ and yo

. >> berkshire, to be accurate, forced people to reassess apple straight as a value stock? >> no. >> the merits of apple as a value stock? >> buffett had absolutely nothing to do with it. >> okay. the two guys who did it, forget buffett, you think berkshire's purchase of it forced people to reassess it as a value stock? >> no. >> if the stock reacted positively since then, why not? tell me why it's not the case. >> because why can't i look at what david tepper is doing and carl icahn is doing in exiting the stock? we have three dynamics here. one is getting in, two are getting out. i side with what pete is saying, what jim cramer is saying, own the stock for the longer term fundamentals. in the near term, those who have tried to trade it -- >> why would you look at what icahn's doing? he booked a $2 billion profit. >> so i have looked at icahn on the way in, i'm going to look at him on the way out. i'm not going to ignore thinkang carl icahn is doing in any type of transaction in the capital markets. >> you have to put the profit in perspective when you talk about why -- >>

berkshire hathaway holding the

berkshire hathaway says dairy queen is joining the iced coffee craze.t's the biggest beverage launch ever for dairy queen. david: a federal appeals court has reinstated the case on libor. bank of america and citigroup ormonde the defendant. the move overturns a 2013 ruling -- that is fail to the business flash update. billions offered 62 dollars to buy monsanto. the offer represents a 37% premium over onset -- my tentacles closing price -- over month santos closing price. the ceo try to calm investor concerns that his company is stretching its finances. >> in the first year after closing the transaction already, we've seen double digits, earnings-per-share increases and the ability to pay a higher dividend to our shareholders. starting from the second year, this will be a double-digit over and above the current standalone. in terms of return on capital, , we will beird year earning the cost of capital and the premium thereafter. a rapidly value creating proposition we have. >> what i would like to know is how do you hold 42 billion euros of debt to the

but he learned a lesson from barry goldwater, and also richard nixon, who tried to fight the berkshires- the birchers, who suffered in 1962. ronald reagan handled the accusations against him, so he distanced himself from the society. he basically said, i stand by my views, they stand by theirs. he was very skillful in distancing himself from the society. >> did the john birch society change the republican party in any way? prof. mulloy: i think it helped them shift it to the right. it took a while for goldwater and the birchers to have that influence, but it moved it in a more conservative direction. it paved the way for reagan's eventual victory, the activism, energy, enthusiasm, and dedication to the cause. i think it really helped that side considerably to become a major part of the republican party. >> last question for you, can you tell me a little bit about the resources you used in your research? i understand there is a secret nature about them? prof. mulloy: yeah. temperatures are a secretive organization. it does not allow independent researchers access to their archive. it is