betty: as far as apple, is it likely that it's not him so much as others in berkshire hathaway? s these two guys who have been building their own portfolio at archer hathaway. based on the size, is probably one of them versus warren buffett. a source just told me that those guys of only an around berkshire for a couple of years and we don't know what their strategies are. they are not the same way out in public as warren buffett is. it's possible they are looking at a company like apple and they feel they can get their mind around it so they are willing to put money to work. you say it's not a huge amount of money for berkshire hathaway or apple. correct,culations are this makes them the 57th largest holder of apple shares. >> that's another great point. because berkshire hathaway needs to take larger positions, it does notlike to move a stock when they are investing in it. apple is good in that sense because there is plenty of flow and they can buy $1 billion without really tipping their hand. apple has had its issues and you can say apple is a case of berkshire buying low. that

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

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

he covers berkshire anne hathaway for us. warren buffett for us. 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 the asian economies, less growth in europe and places like the middle east. but i think there is a sense that demand growth is a little more robust. it has seen more robust than it did two or three months ago. on the supp

that other berkshire is making this moving -- this morning, we are seeing some decreases for berkshire hathawayt&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 trading range.

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 attending berkshire hathaway's annual meeting for many years. she joins us now. good to see you as always, susie. >> it was an amazing weekend. >> always is. it's an amazing show, amazing material that comes out of it. let's pick up from where becky left off. he did address some of the issues of politics. how did shareholders react to what he said? >> first of all, when the question came up, it was complete silence. everybody was waiting to see what is warren buffett going to say about trump and clinton? and it was classic warr

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

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

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

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

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. >>

. >>> up next, the businesses behind berkshire hathaway's portfolio are worth billion and billions. >>> and later, what's the secret to buffett's success? we'll explain how to use simple strategies in your own portfolio. as we head to a break, look how the stock market ended the week. introducing the completely redesigned mercedes-benz c-coupe, with its athletic prowess and sleek new body. it doesn't just raise the bar... ...it completely crushes it. the all-new c-class coupe. mercedes-benz. the best or nothing. every auto insurance policy has a number. but not every insurance company understands the life behind it. those who have served our nation. have earned the very best service in return. ♪ usaa. we know what it means to serve. get an auto insurance quote and see why 92% of our members plan to stay for life. >>> welcome back to omaha where berkshire hathaway's annual meeting is under way. it's a company with a 100-year-old history and yet only in the last 15 years has it really found its rhythm with more than $30 million in debt in 2001, jim webber focused the company on one cate

. >>> 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 soared 57% today. pfizer shares rose fractionally. >>> the dow component and verizon will strike negotiations tomorrow after meeting with labor secretary tom perez over the weekend. nearly 40,000 workers walked off the job last

blinds to go. >>> welcome back to omaha where berkshire hathaway's annual meeting is under way. it's a company with a 100-year-old history and yet only in the last 15 years has it really found its rhythm with more than $30 million in debt in 2001, jim webber focused the company on one category. run it. it's worth half a billion dollars now. joining us is jim webber. thanks for being here. >> thanks for having me, becky. >> it's kind of a novel idea when you look at the nikes and under armours of the world, what made you decide to just focus on running? >> we saw an opportunity to focus on ourselves and running is the biggest category in all apparel and it becomes more than a sport. it becomes a fitness health and wellness pursuit for people. we saw an opportunity to build a brand and we haven't looked back. >> how do you execute that strategy? because first it starts with product and so running is a repetitive activity usually on asphalt. so it really matters and we are way in to creating performance products from head to toe, whether shoes or sports bra because the proof is at

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

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

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

but first, berkshire hathaway has revealed a new $9.8 million stake in apple.eanwhile, apple ceo tim cook visiting china in an effort to reinvigorate sales in that country. he's expected to meet with chinese officials and is already met with the president of didi just days after apple announced that billion dollar investment in the ride hailing start-up. met with some other start-up creators as well, posted waebo which has gone viral already. >> i think the story is the app store. $7 billion in business that regular chinese people have done on the app store. between that billion and billion last year and i think what that's about is to say you may think that we just come and make parts here, but you have many people who have made millions off of the store. and we are better partners than you think. and i understand that after this. maybe he's headed to india, another country that's very strong. is it a charm offensive? how about it's a recognition that apple's a better citizen than you realize. because there's so many people involved in trying to make the app s

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

scarlet mentioned earlier one of the surprise headlines, berkshire hathaway holding a billion dollars stake in apple. out with whatming they are holding. how closely to investors watch this stuff, and particularly buffet? for whom thisle is a big deal? manyr: i don't know how people are looking at buffet saying if he is in i want to be in it also. it's interesting when you're coming off such a rough order for hedge funds. out.any were forced the apple thing is particularly interesting because a lot of people have been talking about jumping out of apple after a , it'sove in the stock kind of out of its glamorous age here at least temporarily. you have to have a strongly convicted case to not be in apple. 2014,didn't hold apple in if you are not in that stock, a lot of these guys are going to be in big trouble. joe: tiger global cut its shareholding by 4.9 million shares in apple. that's a big cut. to wonder, berkshire getting it would a lot of these faster moving hedge funds seem to be getting out. scarlet: people talk about how cheap it is, the valuation. group, tradinga at 18.8 times

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

a billion dollars, which in the grand scheme would be a lot of money for you or i, but for berkshire hathaway, not as much. a billion dollars is relatively small for berkshire. when it comes to yahoo!, what we are talking about is financing for the takeover, and this is something that buffett, has been doing for many years. 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 cut

our special guest for the hour warren buffett, berkshire hathaway and ceo. ounder of microsoft and berkshire board member. gentlem gentlemen, we've spoke earlier about specific holdings of berkshire hathaway. i thought maybe we could get some of your reactions. charlie, earlier we talked about american express and costco. warren defended not to go ahead with costco. you're a costco board member. do you agree? >> if i was on american express i would have made the opposite decision. >> why? >> i think costco is so powerful that being the only credit card provider at costco is so valuable. that's just my opinion. >> we talked a bit about ibm. there were shareholder questions that came in over the weekend about shares of ibm, particularly since they're trading at about $145 versus a cost basis just under $175. you made some comments you're not sure what to think about the ibm investment. >> i'm not sure it's going to come out. i like the fact they're doing it. and any kind of artificial intelligence is very much in. it may well work. i have no way of predicting.

a billion dollars, which in the grand scheme would be a lot of money for you or i, but for berkshire hathawaynot as much. they have stakes in wells fargo that it worth more than $20 billion, so $1 billion is relatively small for berkshire. when it comes to yahoo!, what we are talking about is financing for the takeover, and this is something that buffett, has been doing for many years. he uses berkshire's resources to back companies bid for other companies. i'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 pre

so we have a section in the back called the principles of berkshire hathaway.t 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 tell you what, the gm story, we talked about ford and gm, and companies that

buffett, berkshire hathaway. it's working with great businesses.with diamonds by kathy ireland in association with all wraps new york's soft launch this year, full launch this year. patented in bringing people great quality. our intimates, which are wonderful people and great quality. i enjoy working with people. different businesses that weren't directly weren't named accordingly. level beauty coupons beauty and pinups. we've got a spokes model who i absolutely adore. she's fantastic. name is katie made pitches the first special olympian to be a spokes model for a major cosmetics campaign in association with best buddies and anthony scheiber. maria: fantastic. is that one you are wearing today? this is relatively new. >> is relatively new. it is who you work with. all wraps of new york has spent his life in the industry. it could be a corrupt industry. from mind to finger to having integrity that these are true quality and they are done with the utmost -- maria: when you look at distances across the board whether it's home goods, some of the beaut

and berkshire hathaway could be providing financing there.r will comment. >>> and tim cook is in beijing and he used a didi chuxing car to get there. >>> and the new york post is reporting that facebook is testing music videos in an attempt to keep viewers from turning to youtube. the social network said they started talks with music labels about licensing songs that users can upload to their own videos such as vacation or birthday videos. >> i'm going back to using facebook, only rejoined a month or so ago. >> i need to get back into it. >> if you do watch a video, what is so clever how quickly the next video of a similar theme comes up irrelevant of if it was on your personal feed. you click on a video, there are probably three things to watch from us and immediately what comes up is from a similar provider, whether directly from cnbc or just like that. but it works very well. >> my cousin this weekend said he gets all his news from three things to watch on facebook. >> you watch one and then you're drawn in and watch five back-to-back. fac

he does have two key fund managers at berkshire hathaway who he said made the apple call. apple down 27% from this time last year. nasdaq from comparison point, down 4 1/2% from last year. sources say the manager who bought it, probably thought it was a good buy. >>> speaking of tech, bill gates, founder of microsoft is on a al qaeda suggested hit list. military expert tells me how he thinks u.s. government should respond to terrorists threatening business leaders. ♪ this just got interesting. so why pause to take a pill? and why stop to find a bathroom? cialis for daily use, is the only daily tablet approved to treat erectile dysfunction so you can be ready anytime the moment is right. plus cialis treats the frustrating urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas for pulmonary hypertension, as it may cause an unsafe drop in blood pressure. do not drink alcohol in exce

meanwhile berkshire hathaway's . ofit rose more than 8% gains in its manufacturing unit and investment portfolio offset a slump in insurance and the railroad. let's check in on sydney. ahead of the decision coming through tomorrow. expect it to remain unchanged at 2% but here is where equities in australia are right now. half a percent down. we are seeing markets in china to vietnam, malaysia close this had day for the may day holiday but not in korea. markets there are open. let's check it out right now. south korea's kospi is really falling with 3/4 of 1% down as we also see oil retreat go for the second day but the big story of course is what's happening in japan. we are looking forward to the afternoon's business in tokyo. this is the first chance the equity market got to react to the boj decision on thursday of last week. we'll get the latest on japan's reopening after this very short break. show me top new artist. ah, ha ha. show me top male artist. my whole belieber fan group. it's not a competition, but if it

buffett as well as berkshire hathaway into apple. finally look where apple closed today though. it was up 4% which is something that apple shareholders will enjoy. one last thing, apple tree, 1792, new york stock exchange will celebrate the 224th birthday under the buttonwood tree where the 24 men made agreement where we stand today. melissa: adam, thank you so much. david: donald trump is firing back. the presumptive gop nominee slamming "the new york times" on quote a lame hit piece on his relationship with women. fox business's blake burman in d.c. with the very latest on campaign trail. hi, there, blake. reporter: david, good afternoon. donald trump is calling the latest front page cameo on "the times" dishonest. they ran an article focusing solely on trump's relationship with women. "the times" interviewed more than 50 women for that story which portrayed trump and bachelor and boss who engaged in quote, unwelcome romantic advances, quote, unsettling work place conduct. one of the lead figures in that story was trump's former model girlfriend, rowanne brewer lane, she appea

that will put money in people's pockets but i was with berkshire hathaway's warren buffett and he says hiking the minimum wage would hurt job creation? >> well, we've only studied that issue about 280 times, and debunked that myth. and go to the state of washington. typical example. they've had the highest state minimum wage in the country for something like the last 20 years. i think it may change this we're with the other state actions. you have a wonderful laboratory there, and they have no tip credit. so look at the experience there. if the rest of the nation had washington state's job growth numbers over the last 20 years, our economy would be even better off, and so this, this hypothesis has been debunked with regularity. here's what i hear most frequently from businesses, what do you need most to expand your business? the most frequent answer is customers. and 70% of gdp growth is consumption. when you're making $7.25 an hour, you can't consume anything because you don't have money in your pocket. that's why henry ford doubled the wages of people on the assembly line. >> i compl

investors eyeing lots of deal news, including berkshire hathaway buying a $900 million stake in applesing 175 points to 17,710. twitter may give you more room to write your tweets. reports say it will stop including photos and links as part of its limit. links take up 23 characters of a tweet. jack dorsey says he is seeking ways to simplify the product to attract new users. >> google wants to help you get to work. it launched a pilot program to let people carpool with users of its popular waze navigation app. they first tested the feature of waze rider in israel. >> find somebody going our way 3:30 in the morning. >> usually it's truckers and drunk drivers. >> thank you. >>> a follow-up to that deadly amtrak train derailment in philadelphia last year, a source close to the investigation says the inge fear was likely distracted by radio dispatches. brandon boshin told investigators he could barely remember the moment leading up to the crash that killed eight people and injured 200. the ntsb will hold a hearing in washington, d.c. today to consider that final report. >>> the u.s. senate

up 8% berkshire hathaway, guys. eps estimate was 2579.ctual earnings per share for berkshire hathaway coming in at 2274. so a miss there. on revenue, the estimate, 52.6 billion. came in at 52.4 billion. so just a little miss there. so the profit up 8%. the net income actually rose. operating profit did miss. there you have it. stock not moving much this friday. volume down initially half a percent but now pretty much where it was. interesting to see what the action is on the stock come monday. melissa: ashley, thank you so much for that. david. david: we now can confirm, shocking news, took them a while to count up the votes. london electing first muslim mayor, is a feek kahn, despite hostile campaign by the elections took place six weeks before britain votes whether or not to leave the european union. boy, what a momentous day in london. melissa: stay home in the mountain state. donald trump confusing message to west virginia that has some voters scratching their head. we'll talk to trump's national spokesperson about the presumptive gop

also a lot of deal news, including berkshire hathaway buying a stake in apple., housing and mfac turering news this morning. part of the 140 character limit, links take up to 23 characters of a tweet. jack dorsey says he is looking for ways to simplify it. >>> google wants to help you get to work. letting people carpool with users of the waze, $0.54 a mile, back over to you. >> thanks so much. >>> just ahead, the warriors battle it out. one baseball manager loses it. sports up next. orts up next. ♪ what are you doing? sara, i love you, and... [phone rings] ah, it's my brother. keep going... sara, will you marry... [phone rings again] what do you want, todd???? [crowd cheering] keep it going!!!! if you sit on your phone, you butt-dial people. it's what you do. todd! if you want to save fifteen percent or more on car insurance, you switch to geico. it's what you do. i know we just met like, two months ago... yes! [crowd cheering] [crowd cheering over phone] my man friend that i've been syour man friend. like, as i was leaving i was like, "goodbye, i love you," and

we have buffett's berkshire hathaway jumping into apple. things that are sort of counter intuitive to being negative on the market. >> but you know, i think the bigger theme is what we are seeing is potential for capital to really tighten. i'm not just talking about the fed. let's think about what the fed is doing. the fed has embarked on a tightening cycle, albeit a very slow protracted kind of benign tightening cycle but this is against the backdrop of negative earnings growth. so we are seeing a tightening into a profits recession. let me tell you something. we went back over time and looked at all the periods in the past where the fed has tightened into a profits recession. it's happened three times since the '70s. in two out of three of those times, the market has sold off over the next 12 months. here we are, we are sitting at fairly similar levels to where we were when the fed started tightening. i feel like that in and of itself is a reason for some consternation. then on top of that, even if the fed stays on hold for the rest of th

nejra: berkshire hathaway is the biggest investor coca-cola.ticized because of soft drinks contribute to obesity, and what a lot of people are saying. he says it's about happiness too, and i'm happier when i am drinking soft drinks rather than eating broccoli. he points to the fact that women tend to have a longer life span, and if you want to increase your lifespan, have a sex change. guy: on that note we will leave it. thank you very much. that is it for "on the move." stay with us; mark barton is taking it. "the pulse" is up next. ♪ guy: -- mark: manufacturing data stabilizing. japanese stocks sink. the yen hold 718-month. the yield on the 20-year bond slides to a record. halliburton and baker hughes walk away from their $28 billion merger amid regulatory resistance. welcome to "the pulse" from london. i'm

. >> warren buffett, his berkshire hathaway taking a $1 billion with a "b" stake in apple. stick around. we have a bull/bear debate on am coming up. >>> also ahead, jeremy siegel tells us whether it's a good or bad sign the maurkts have failed to make a full high for the year. you're watching cnbc, first in business worldwide. the call just came in. she's about to arrive. and with her, a flood of potential patients. a deluge of digital records. x-rays, mris. all on account...of penelope. but with the help of at&t, and a network that scales up and down on-demand, this hospital can be ready. giving them the agility to be flexible & reliable. because no one knows & like at&t. (speaking japanese) oh watson, your japanese is very good. thank you. (speaking japanese) exactly. i can understand nuance, context and idiom in seven languages to help companies all over the world with everything from retail solutions, to banking, to cyber security. (speaking japanese) >>> the stockmarket holding on to the lion's share of the gaines todagains today. intrasensitive, utilities are going do

we do own some berkshire hathaway. i had a diet coke for lunch and my wife loves dairy queen. i think with that said, it's not immune from a few dogs. he's got problems. his stocks have gone nowhere. that's the issue here. either chase the momentum and chase the crap or wait for the good stuff to pull back, ibm being in the latter camp. i'd be a little more patient. >> rick, it does seem that the markets are taking the puerto rican default in stride. what do you think it does to the credit markets right now? >> you know, i'm thinking we receive a lot of what it's going to do, which is a lot of nothing. i think the biggest issue personally and they're hitting very close to home is how whaufr outcome we see over time of puerto rico, how that may feed into something like an illinois/chicago situation. of course, many are watching that closely. as i look at the markets today, the biggest thread that all traders and my sources seem to have shared is the weakness in dollar, the strength in gold, and how big and mackerel some of these events are when you look at the charts. so especi

but again, look, i don't -- to respect warren buffett and to have berkshire hathaway has the largestosition in my portfolio i don't have to agree with every single investment decision and every single stock holding in the book. so in the case of apple, apple is an insanely great company. the stock looks fairly cheap. forced to go long or short i would two long it. or force to go long or short ibm i would go short it. and that is a much more massive position. so i worry about that a little more but still in the scheme of the size of berkshire hathaway, berkshire has 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 abo

warren buffett's berkshire hathaway will report earnings alre and the energy market's going to be focusing on the weekly oil rig count. and that is what to watch friday. >>> ford is investing in a silicon valley tech firm. the automaker is putting $182 million into pivotal, a software development company. that deal gives ford access to a technology it wouldn't otherwise be able to develop on its own. it's latest in a growing number of detroit silicon valley tie-ups that underscores the commitment to developing more advanced and autonomous vehicles. >>> amc networks is crediting hit shows like "the walking dead" and "better call saul" for its strong quarterlies which exceeded expectations, revenues up more than 5.5% from last year. ceo says 2016 got off to a strong start and ad sales were higher and that sent shares up more than 5%. >>> from the small screen to the big one. disney's "capital america: civil war" is already a box office success and it doesn't open in the u.s. until tomorrow. early results may ease concerns for disney shareholders. as julia boorstin reports it could put marvel

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