of how berkshire hathaway has performed, the shares are up 10%.nce base of portfolio companies are under pressure. castparts,recision help to boost the bottom line. geico was a strong player, but a slump in earnings at railroad and energy units. insurance is businesses took a hit from the wildfires in canada. rivals, they did ok, rebounding in their insurance unit from a loss of $38 million and posting an underwriting gain of $227 million. in terms of book value, this was also a strong point for the company, rising to $160,000 a share. in other news, airbnb is raising $850 million. that will value the company at $30 billion. for airbnb declined to comment and did not say who is making the investment. airbnb secured $1 billion in debt. walmart aims to close at $3 billion acquisition of jet.com as early as monday. sources tell bloomberg that walmart once the founder to head the company as part of the deal. the acquisition would help walmart challenge amazon light tapping into proprietary technology and customer data. critics, savaging from the suici

you.thank we have breaking news out of berkshire hathaway.carlet: second-quarter operating earnings per share of $2803. 2911miss the estimate of dollars. profit overall as insurance units improved. coming up, audience participation. we have charts from our bloomberg viewers. stick around to see if yours was picked. this is bloomberg. ♪ scarlet: joined the bloomberg g chart library. we picked three charts from users to parse through. i will kick things off from mine . hold on one second. let me hold this up again. it is economic surprises, and that is in white. it shows what economists say data is topping estimates. the blue line is a 10 year yield. what is interesting here if the data gets better the yield should be going up as well. the divergence begin this year. if you look at a five-year chart it looks like it move in the same direction although at different rates. the split came this year. what would cause it to go back to what we have seen? the world needs to change, right? you would need better global growth. we are not there yet. , he

berkshire hathaway profit rose 25%.ars net income from a year ago, a 25% jump in profit. income from manufacturing services and retailing climbed from 14% to close $1.5 billion. precision and/or sell really paid -- duracell really paid off. it was amiss. 2803 per share versus the 2911 estimate. how berkshire hathaway performed, the shares are up 10%. its insurance base of portfolio companies are under pressure. rescission cast parts, help to boost the bottom line. geico was also a strong player, but a slump in a railroad and energy units, chemical units also, and insurance businesses took kids the wildfires in canada. versus rivals, they did ok. they posted an underwriting gain of 227. assetss of book value, minus liabilities, a strong point for the company, rising to 160,000 a share in june, a boost from 157,000 three months earlier. that's it for this edition of "trending business". "asia edge" is coming up. getting views on markets and which way they are going. the nikkei two to try concluding with a gain of 2% and s

coming up, questions being raised on one of berkshire hathaway's ceos. is he too tough for warren buffett? this is bloomberg. ♪ david: this is bloomberg markets. shery: it's time now for the bloomberg business flash, a look at the biggest stories in these right now. tiaa is said to be in talks with ever bank financial. that would be the largest lender by deposits according to a person with information. ever bank said it was in a position to sell itself to a well respected financial services company. worth $2.5uld be billion. david: a report walmart is in talks to buy a online retailer jet.com. jet.com has been in business for a little more than year. it is an clear how much walmart would pay but the company is worth a reported $3 billion. isry: a spaceflight startup about to take one giant step for mankind. the federal aviation administration has given the green light for moon express to set a robotic lander on the moon. it's the first time the government has approved a private mission beyond earth's orbit. successful, it could win the google x prize and

at first glance appears berkshire hathaway did miss.o surprise because they have missed expectations in three of the last four quarters by an average of 8.4%. soere's the numbers, here is the bottom line for the most current quarter to report. earnings per share is $2803 per share. expectation was $2910. we're getting a couple of headlines. looking at thomson terminal. investment income was 978. in research leading up to the report, we knew insurance might be challenged because there have been so many natural disasters this year. wildfires in canada, likely exposure there. we know that utility sector as a whole had just a breakout first half of the year. of course railroad properties were strong as well. berkshire hathaway, second quarter operating earnings $1.25 billion. david: numbers seem inflated but the share price is lot of money. lori, thank you very much. liz: donald trump in iowa this hour amid a flury of new polls show mr. trump falling even further behind hillary clinton. howard kurtz says the media is at least somewhat respo

ceohe berkshire hathaway tapped the presidential nominee at a slight he may does he made. -- he made.> donald trump i have not sacrificed anything. can you stand up to a couple of parents who lost a son and talk about sacrificing? have you nold trump decency, sir? challenge trump return.se his tax >> i'll bring my return he will bring his return. send the word to him, if you will. francine: the centers for disease control have warmed this have warned pregnant women not to travel to the zika transmission area in miami. it also said pregnant women live there should take steps to prevent the spread of the virus. >> there was evidence of the potential for ongoing spread of zika. we are taking a step to advise pregnant women not to travel. nejra: global news, 24 hours a day, powered by 2600 journalists in more than 120 countries. i am nejra cehic, this is bloomberg. francine: the yen is getting as the 26th -- since the nations market crashed in 1990. according to a draft, just under half a total of the package will give total measures it lets dish measures. let's speak to andy sharp. we ha

berkshire hathaway is up 20% and there is a breakdown of the numbers. >> berkshire hathaway posted ofand had an income billion and a jump in profit. the heart of the prophet was and the recent acquisitions paid off. miss, versus the estimates. , iterms of how it performed has to do with the portfolio and ites under pressure helped to boost the bottom line with a strong player and a slump unitrnings with a chemical taking hits. ok and theyal did rebounded from a loss a year ago. in terms of the book values, this was a strong point for the company and it rose at the end of june. up, 24 days, since and coup in turkey. a massive rally. that is coming up next. finally, a push. .e're going to talk more this is bloomberg. monday.e shot of high on friday. 1:50 here and it is 1:50 in hong kong. >> thank you. a criminal investigation has allegations ofo fraud. we airplane makers as they are core rating. holdings. firm offer was $64 a share in cash. it creates the -- quarter6% in the second and they revealed warning that it was not enough. closemart aims to acquisition as early as today they wan

berkshire hathaway boosted its thestment in apple when stock flipped. berkshire raised its stake in maker by 55% to 15.2 million shares. that is your bloomberg business flash. guy: thank you very much, indeed. new policy for a new normal. environment calls for a new approach to banking, says fed president john williams. it's an argument he has been making more forcefully as of late as global policy fails to boost growth. in an essay released around 5:00 you to care time, williams istes, while gdp targeting an option, fiscal and monetary policy must take on some of the burden to sustain economic growth and stability. still with us, wayne bowers. do you the inflation target should go? >> i think it should be challenged and questioned. i don't think anyone can remember who made up the 2% or where it comes from. lots of banks have that is the -- as the mantra. those comments are so similar to trichet. there is only so much the central bank can do. need to move on the government side to help to stimulate demand. i do think central banks are being challenged,

berkshire hathaway shares are up a little more than 1% here.guys, after the close we will see what happens. i'm told they need -- analysts needed two days because of the conglomerate status to be all over the place in terms of trains, planes, and automobiles. scarlet: i hadn't realized that. good context, ramy. what about safe havens? ramy: lysacek safe havens are moving as you would expect them to get let's look first at the dollar. 8:30 a.m. when the jobs number came out, terrific data came out. .4% againsts up by a basket of currencies there. gold is falling right now, i believe on the order of 1.6%. it had been low as 1.5%. paring losses but still near session lows. treasuries, yields are also rising. let's see what is happening in terms of the two-year and the 10 year yield -- two-year yield is a little bit more sensitive to changes in terms of interest rates. up 8 basis points. 10 year yield is up 7 basis points. currencies and commodities and safe havens moving where you would think. angie: for jobs on the stop statement -- good job on t

berkshire hathaway boosted investment in apple and the second quarter when the stock flipped. kshire raised its stakes by 55%. 15.2 million shares. that is your bloomberg business flash. manus: haidi lun with the latest. let's talk about cpi inflation data from the brexit. it comes out at 9:30. investors will want to know if filtered through to consumer prices. u.k. data coming fast over the week wednesday. we have the latest rating on the jobless rate. thursday, retail sales was the latest gauge of u.k. finances. that is released on friday. chief advisorthe over there. when we look at the rapid data that will come through, this is the inflation data, the numbers expect a 12% drop. we will add about 1% to the cpi. how hot do you think the bank of england will allow cpi to run before they balk? bob: as you saw from the statements, when they cut interest, they reintroduce quantitive easing, the message is clear indeed. they are concerned about lending by the banks, which they want to boost. they are concerned about the slowdown in the economy and a revised their growth forecast f

his berkshire hathaway now 15 million shares from about 10 million in the spring. comes as other invest remembers selling apple, buffet himself usually she is away from more risky stocks in tech sector, could be a sign apple's growth is slowing, and it is now considered a value stock. twitter shares, shot up 7%, after reports that the social media company is getting into the tv business, at least, creating a app for apple tv. it could stream live sport games, twitter recently won the rights to stream nfl thursday night football, and it could use the new app to stream those games for free. and milestone for shake shack, it is opening it 100 location today, at the boston sea port. the first was here in new york madison square park, but to celebrate the first 100 customers at shack's world-wide will get free shack burger doors open 12:30 a.m. >> thanks so much, jill well the death penalty is no longer law in the state of delaware. earlier this month, delaware supreme court ruled death penalty was unconstitutional, and yesterday, state own general, announced he will no

berkshire hathaway over one of its biggest holdings. , whether berkshires investment violates the rulesor how much credit banks can extend to corporate insiders. it has to do with wells fargo citing financing -- providing financing to berkshire posts subsidiaries. markets lingering uncertainty. has not been easy being a bank chief executive. the transatlantic bank battle. who is rising to the top? brian moynihan, chief executive of bank of america weighed in earlier in this exclusive interview on bloomberg go. brian: europe is much more difficult to manage. in the u.s. it was tough because of the size of the economy. you had multiple regulators. we do not have multiple jurisdictions and multiple regulators. that makes it so much harder. the second issue, don't have capital markets desk in europe so there was not any place for these loans and securities on the banks to go. in the u.s. we could get those author the capital markets, restructure balance sheets. at the time when we bought merrill, almost $3 trillion, we are $2.2 trillion. all went into the market. it is harder to do in europ

david: we've also got earnings at a berkshire hathaway on friday.e state of the economy, particularly with respect to his railroad? noah: i think the railroad -- a lot of people expected it posted decline in earnings. berkshire as a broad cross-section of the economy. what you saw were a lot of things in line with her. there. ir peer group. their insurance subsidiary has rebounded. geico has bounced back pretty well. it was a little bit different than what we saw from the peer group. some other auto insurers had a tougher time in the second quarter. david: thanks, noah. to fly this you try morning in united states, you'll be familiar with this one. deltar outage grounded flights worldwide early today. the company sent out a tweet saying that ground stop has been limited and limit departures resuming following a power outage in atlanta. joining us with the latest is the bloomberg aerospace reporter in london. is great to have you on the program. i would assume these guys spent a lot of money trying to prevent these kinds of things from happening. wha

trump heads to the rest of our continued gears up for an appearance at berkshire hathaway warren buffets get involved in the race for the white house. former deputy commander of u.s. central command, general john allen represent frederick on abc this week. >> there has been progress with respect to the war against jesus. he says our military can't win anymore appeared as a direct insult to every man or woman wearing it today. train to the first presidential debate today. donald trump pushing back the schedule since the events go against nfl games. how the league is responding. a devastating hot air balloon crash in texas killing all 16 people on board. details about what caused the accident and warnings coming up. summer olympics taking off friday in the past news keeps coming. protesters calling for the country's president to be removed from office. a powerful moment at dallas cowboys training camp a month after they ambushed the city police officers hosting the mayor, police chief in family member of the slain officers. as the closer to making a solar city deal official. the merger co

the dow is down about 50 points or so on the heels of another bullish -- by warren buffett's berkshire hathawayhere, carl, berkshire has made news again by an apple position. to a total of 9.8 million shares at this point. >> it's a vote of confidence, but also a reflection of the new generation of managing money at berkshire, where warren buffett for the most part has avoided tech stocks. now some appear to be wading into that territory. at the same time, and i'll make a caveat that these are dated june 30th, and things may have changed, other big investors appear to be more bearish. george soros dissolving a fund, and moore sold out of the name entirely as well. -- changing the position by about 75%, while greenlight shaved its by 17%. elliott management, which is actively long technology, took on a sizable position in puts, which is the right to sell apple in the future, but sounds like that may be more of a hedge. it's hard to see this as profit-taking as david einhorn put it in a shareholder note recently dated july 26th. in the long book apple was one of our material losers. the estimates

berkshire hathaway increased stake in apple. shed their positions in apple: berkshire cutting its stake in walmart. paulson company held its stake in gold. sold off shares in arkansas began, pfizer, but did increase stake in other drug makers. valeant. it added fedex to its holdings. another interesting disclosure, value act capital $1.1 million stake in morgan stanley. indicates may be hoping to turn things around for the bank investors who have seen disappointing returns as financials have suffered. watch that activist stake and see what kind of moves they make. >> indeed. ie can is calling in a letter saying a number of refiners could go bankrupt if the playing field is not levelled to stop disfavoring. specifically, he's worried about the market for renewable identification number credits designed to reduce reliance on imported oil. ie can says the credits exemplify market. >>> hain celestial sharing fall on accounting. saying it doesn't expect to reach anticipated sales and profit levels for the year. firm put out a statemen

. ♪ emily: warren buffett plus berkshire hathaway has closed a bigger slice of apple. to morets than 15 million shares from under 10,000,003 months earlier. apple stock had fallen 12% in the quarter to $95.60 but rebounded to over $109 as of monday's close. the stake was almost $1.5 billion at the end of june. speaking of new holdings, elliott management is [indiscernible] of a number of companies. this according to regulatory filings filed today. most of the investments are not considered activist investments. it is those that get the most attention and elliott has been known to target tech in particular when acting in that nasty. coming up, the security firm at the heart of one of the most complicated and controversy of political hacks of all time. we will speak with the ceo of crowd strike about the hack on the dnc. if you like bloomberg news check us out on the radio. you can listen on the bloomberg radio app, bloomberg.com, and on sirius xm. this is bloomberg. ♪ mark: i am mark crumpton, you are watching "bloomberg west." hillary clinton was joined today by vice p

morgan, berkshire hathaway all big gainers today. financials leading the way. as far as the losers, big names. allergan, biogen, amgen. i'm pulling out pharmaceutical and health care names on the losing side. joe: in the government bond market, we see a selloff in south african bonds. that is one country -- let's look at the u.s. first. lower yields across the board. we see a particularly sharp drop on the 10 year yield. the fact that the u.s. two-year dropping less than the 10 year indicating a flattening. friday after the fed comments, we saw yields up. today a reversal. let's look at a one-month chart of south african bonds. that is interesting. growing anxiety about the finance ministry and power situation has seen a sharp jump in the last week. chandra: i'm looking at currencies starting with the dollar. we have seen the index hit a two week high today. we are pretty much unchanged at the moment. you can see the dollar over the past two days. friday see the spike on after stan fisher spoke following janet yellen's speech. you can see it up .9% over two day

the head of berkshire hathaway challenged trump saying he will meet anyplace, anytime to compare their returns before election day. trump will not release his returns until the irs is finished auditing him. clinton has released eight years shot after a confrontation with police. we have cell phone video to show you. this woman races out of the front door, we will explain that. police searched for a burglar inside and around the women's home on 66th st.. gunshot was heard and the suspect ran outside. neighbors say the woman was at work when she saw someone in her child's bedroom and decided to call police and went to her office into her home. >> after gaining entry to the apartment, one officer encountered a male suspect, a struggle ensued, one shot was discharged by the officers. this was a close quarters encounter. >> he tried to escape, did not a block away. robert: nypd officers frustrated with the bill diblasio administration take their concerns to the mayor. juliet: members of the biggest police union are set to protest at the mayor's brooklyn jim and on the upper east side where

buffett's berkshire hathaway releasing quarterly results after the close.xpected to earn 10% more in revenue than this time last year. straight ahead, what the jobs report means for the fed and your portfolio. thank you. ordering chinese food is a very predictable experience. i order b14. i get b14. no surprises. buying business internet, on the other hand, can be a roller coaster white knuckle thrill ride. you're promised one speed. but do you consistently get it? you do with comcast business. it's reliable. just like kung pao fish. thank you, ping. reliably fast internet starts at $59.95 a month. comcast business. built for business. ashley: in less than 30 minutes the republican nominee and his vice president will take the stage in des moines, iowa. we love the shots of a podium with nobody there. the republican nominee trying to change the script to focus more on mr. trump's economic rollout, and his economic team will give a policy speech on the economy in deet on monday. this week after bad polls, gop defections and controversy. hasn't been a great co

berkshire hathaway usually stays away from tech stocks. it cut its stake in walmart by half. one of the best performing stocks in the dow 30 this year. look at that. if you own walmart shares, you have a near 20% gain. merck and united health care and caterpillar up this year. the stocks helped the dow hit a record high yesterday. the nasdaq and s&p hit records. george, futures are down slightly this morning, but a lot of people are looking at the numbers and saying this is the worst start to the year in history. remember in january? it was terrible. february, a swoon in the stock market. since then, up 20%. it has been a remarkable rebound from the malaise. we will talk later in the program. we will talk about why it is going up. >> i would be interested to know. >>> following a situation in louisiana. the death toll rising following devastating flooding. we will have the latest on what lies ahead for that region next. well, it was nice to see everyone. i just wish it had been for a better reason. me, too, but the eulogy that frank's daughter gave was beautiful. i just feel

apple rally, that stock up 10% over the last month and word this week that warren buffett berkshire hathawayg more and his stake worth $1.5 billion and raising the question whether the biggest company on earth is truly back and a must-own name fon your money. with us for the hour is steven wise, josh brown and jon and pete najarian. and berkshire is loading up and others are getting out and who is right.

berkshire hathaway saw profit rise. helped by an improvement in insurance underwriting. >>> the agenda on wall street. tomorrow look for the first read on second quarter productivity and labor costs. thursday, import prices. friday, retail sales. >>> this week we have one dow component and 17 s&p 500 companies reporting. we'll hear from them today. tomorrow, solar city. wednesday shake shack. thursday, al bab i, macy's. on friday, j.c. penney. >>> staying on the consumer theme, drivers may want to get one last road trip to make the most of lower gasoline prices. landon dowdy joins us with more. >> good morning to you. >> the lundberg tracks it at 2500 stations. here's the latest look. the average price dropping $.06 to $2.16 a gallon. that's 55 cents lower than a year ago. the price of it has gone down $.21. analysts say as soon as the slump ends gas price -- the price of crude is declining, down 5% over the past three months. but that decline is starting to slow. so what is the city with the highest pump prices. san di

dow shares exceed $53 and 72 cents for 20 days over 30-day period, the company can convert berkshire hathaway'sreferred shares into common stock. this would cost berkshire a dividend worth $255 million a year or as warren buffett himself put it, windfall paid him $8 a second since the financial crisis of 2009. that is when he had this preferred share deal with dow. melissa: criticism continuing to pile on hillary clinton. the controversy surrounding the clinton foundation. clinton is standing her ground and defending the organization. lots of smoke. no fire. david: that is what she says. all this is feeding perfectly into donald trump's campaign as his attacks on clinton keep coming and he is not holding back. that is all coming up next. >> hillary clinton and her donors, and advisors, pushing her to spread smears and her lies about decent people. shame on you! ♪ with this level of engineering... it's a performance machine. with this degree of intelligence... it's a supercomputer. with this grade of protection... it's a fortress. and with this standard of luxury... it's an oasis. introducing th

. >>> berkshire hathaway's ceo warren buffett has called out donald trump.ur john harwood is in washington with the latest. >> what makes warren buffett as a surrogate for hillary clinton against donald trump is buffett is much richer, and more successful in business. he used that authority in omaha yesterday to undercut trump in trump's unusual argument over sacrifice with the parents of a fallen iraq war soldier. >> no member of the buffett family has gone to iraq or afghanistan. no member of the trump family has gone to iraq or afghanistan. we have both done extremely well during this period, and our families haven't sacrificed anything, and donald trump and i haven't sacrificed anything. but how in the world can you stand up to a couple of parents who have lost a son and talk about sacrificing because you were building a bunch of buildings? >> buffett also challenged donald trump to release and compare that i tax returns. donald trump says he can't do that, because his returns are under audit. buffett says he's under audit, too. >> i would be delighted t

berkshire hathaway increasing its stake in apple.himself but shares are trading up. >>> it's not even close. u.s. olympians winning more medals than any other country in the world. but the irs may actually be the big winner when it comps to bringing home the gold, the silver and the bronze. >> reporter: the internal revenue service considers those medals taxable income, like a winning lottery ticket or hitting it big in vegas. team u.s.a. athletes have got to pay uncle sam, and the tax man takes a bite of the value of the medals plus the bonus money given to athletes for each prize. 25 grand for gold, 15k for silver and 10 for bronze. republican senator john enthusiasm and democratic senator chuck schumer of new york cosponsored a build to exempt team u.s. athletes from federal taxation, writing, senator enthusiasm said doing so is fair, common sense and send the right passage to team u.s.a. present and future but in -- but it was called giving olympians a tax break good politics but silly economics making what makes olympians more w

berkshire hathaway buffet says there's a website that purports to show cnn interview between buffet and. berkshire says buffet has not spoken to cooper in the last five years and buffet also says he doesn't know anything about the scheme that's touted on the website. so be on the look out. >>> all right. be object look out for this. domino's is adding salads tots delivery menu. company has announce its partnering with ready pack foods to deliver salads nationwide. three pre packaged to choose from, classic garden, chicken caesar and chicken apple pecan. salads are 5.99 when you pair them with mix and match items already on the menu. >>> doctors in bensalem implanted the world's smallest pacemaker into a pennsylvania woman. >> that woman is the first to get the new technology in northeastern pennsylvania. dr. nanda from st. luke's health network put this tiny pacemaker into mary molinari the pacemaker is the size of a vitamin it can pace the heart for 12 years. doctors say the implantation the lead free device was successful and mary is now at home recovering. >> that's amazing. >>> ceme

berkshire hathaway shares.speaking live in des moines, iowa. >> not going to happen. we'll build safe zones in syria. we'll build safe zones. we'll build all sorts of things. we won't pay for it. we'll get the gulf states to pay. opm, other people's money. about time. we have right now, we have $20 trillion in debt. >> all right. that's donald trump as we mentioned in a rally in iowa. opm he said, other people's money. that's the way to do things. republican presidential candidate unveiling his economic team and trying to rebound from rival hillary clinton taking that big lead in the polls. chief washington correspondent john harwood has the very latest. john? >> hi, kelly. it is a rough week for donald trump in the polls. let's just look at latest number. hillary clinton's got a 9-point lead, 47% to 38%. and let's look at what's behind those numbers. donald trump has advantages among voters of issues like crime, like standing up for the united states. those are things that will help him going forward. also, th

berkshire hathaway say there is a website that purports to show cnn interview between anderson cooper, said buffet has not spoke tone cooper in the last five years. he also says he doesn't know anything about the scheme. and be on the look-out. >> interesting. >> bolo. be on the look-out. >> yes, doctors in bensalem have implanted the world's smallest pacemaker into a pennsylvania woman. >> that woman is the first to receive new technology in northeastern pennsylvania, doctor from st. luke's university health network put this tiny tiny pacemaker called the ventronik trans catheter into mary of mount pocono. the pacemaker only the size of a vitamin, and can pace the heart for up to 12 years. doctors say the implantation of that lead-free device was absolutely successful, mary now at home recovering. >> technology just backing so amazing, what they do with that. >> incrediblement following some breaking news this morning, steve, you're ten scene -- your a at the scene after fire. >> now firefighters rush to go edgewater park, all hands on call, this fire may have been caused by lightnin

berkshire hathaway steadily raised its position.t quarterly earnings. i think they're looking at potential of a trough in agriculture in equipment. and it's tough to time, but it's also tough to get in after it happens. so i think that's what's going on there. >> foot locker. joey. >> foot locker i think should be decent. dick's sporting goods, which is tomorrow morning, is one i would focus on more with the closings of the sports authority. most of those stores are conveniently located to a dick's sporting good. you wonder if they're going to pick up the market share. i suspect they will. >> they've got the intellectual property from the sports authority. so i think when you try and go there it automatically goes -- online, it goes to dick's sporting goods. >> are people going fo focus on the right things or continue to look at golf galaxy, which is a minor part which everybody seems to focus on every quarter. >> what about walmart? >> big dow component. it's actually done well. had a nice run. >> the jet deal. >> yep. >> we like i

berkshire hathaway. insurance names.ixture of names and as the bret breadth strengthens out. >> making the point none of the other large financial institutions are on your view list of saying they can go higher? >> it's got to -- >> regionals have been well thought of for a while. >> right. >> i don't hear you saying, okay, i like morgan stanley, jpmorgan, goldman, this, that, the other, citi will break out? >> think of by the time every stock in a sector looks great it's probably a little late tactically to get in there. right? put it on radar, pick away at the better names and as it proves itself get more involved in the sector. >> so here's what worries me. maybe you can make me feel better. we're in this moment now where market breadth is the best i've seen it in years. right? you actually have cumulative events leading the s&p. when was the last time we've seen that? banks looking better than in 16 months. some of the charts you show, european cds prices collapsing. so a lot less stress in the system. you've got sma

stock market with the five biggest companies, we'll push out exxon, push out berkshire hathaway. three of them will be.com and other two will be part.com. they will being.com intores even. melissa: scott what does it tell you? tech is the future or scare you we're piling into one area? does make you feel bubblicious. >> i always feel scared and bubblicious. jack is right, this is. investors frankly are not interested in them. look what happened to the facebook over last couple years. it absolutely exploded. you're seeing those areas really take over for the market, which granted, i think it is good because that is what the future economy is all about, not so much about the industrials and some of the cyclicals of days past. melissa: jack what you see stocks like amazon and alphabet at an all-time high, would you feel like would you add to them at this level? you're not in the business of recommending individual stocks but you said you feel like they could go up from here, they're not actually that expensive? >> alphabet i feel is a tremendous performer and reasonably priced even

apple rally, that stock up 10% over the last month and word this week that warren buffett berkshire hathawayuying more and his stake worth $1.5 billion and raising the question whether the biggest company on earth is truly back and a must-own name fon your money. with us for the hour is steven wise, josh brown and jon and pete najarian. and berkshire is loading up and others are getting out and who is right. >> i think berkshire is right. i'm been in apple but i added above where they were able to get in because i added when it started to drop, it got to 97 or something like that and it got down even further and that is where it seemed like it started to bounce when we heard the buffet group was getting into this thing. so i tend to be with them. i look at this company and for all of the reasons that everybody talked about forever, when you talk about valuation or the cash position and also you have the new products that are coming out over the next couple of months into the second half of the year, i don't know that they are going to be the best products cycle that they've ever had but they

. >> berkshire hathaway increased stake in apple. carl icahn shed the position in the iphone maker. >> is that what they do? >> yes. >> it's amazing. >> yes, they make iphones. i thought westing house made the iphone. >> not anymore. maybe they were the original. >> apple manufacturers. >> absolutely. criticized being sole product company. >> what no one has really -- i keep reading this. 55%. so buffet never invests in technology until it's not technology. like ibm final gets into ibm. apple was a $9 billion market cap and went to 700 billion no buffet. so he finally goes into it. some might say late, but he raised it 55% to what? and how does it compare. >> it's still 1.5%. still small. >> i should look. instead of just asking questions, but is it an actual what you would call a big buffet bed or not? just dabbling. it's like when he's adding to ibm position. he's buying like 2,000 shares because when it went from 170 to 120. he's still buying at 120. if he was really buying, but actually he's looking better on ibm to come back to

regulators examining warren buffett berkshire hathaway over one of its biggest holdings, a stake in wellsthe rules as to how much credit banks can extend to finance these -- financers. cohen's dealseve with the sec -- according to a person familiar with the matter, his new firm stanford harvard is meeting with clients. he was temporarily banned from dealing with others money after his former firm pleaded guilty to securities fraud. wellser-busch inbev dominate the management team. the 17 person executive board will include just one sab manager. -- ceo will leave the combined company. verrone with us and mark gilbert with us as well. dazzle mark gilbert one more times. we third -- we show this on our fed chart. we are going to wander through 2012. watch the red line drop down. this is the distance that the market is from the elites at the fed. it is stunning now to see where that redline is bottom -- is down at the bottom versus consensus. what does it signal to you technically when you see a two-year yield that cannot move? chris: i think the biggest story the last couple days has been th

. ♪ charles: warren buffett's berkshire hathaway has a record 72 billion bucks in cash on hand.here but where? to steve lieb and jonas max ferris who the targets might be and how that might impact your portfolio. you think he is going to buy something. jonas, you think this is red flag for the overall market? >> warren buffett is a little bit of a market-timer. he tells people not to market time which is smart and good advice. he lets cash build up when market is expensive. when there is crisis he uses that opportunistically, he needs to with the money he has to beat the market. financial cash, he lent money to goldman sachs. cash was high in '07. got high before the 2011 greece problems. it was high last few months which was not bad to be heavy in cash. he will wait for a slide to buy something big. charles: he was involved in the heinz deal, right? buzz wiser? >> i think jonas makes a very good point, he is a market-timer, this is not well-known about buffett but very, very good point. where i would agree and disagree with you, that there are some stocks out there that are ver

we have a news alert on warren buffett's berkshire hathaway. >> a number of interesting movements herest interestingly perhaps apple. they have increased the size of the position by 55%. that leaves them with a little more than 15 million shares of apple. pretty major maneuver there. deere and company, pared a little bit. roughly 22 million share position by 6%. a couple of other things of note. they have taken down the exposure to suncore energy to 26% with about 22 and change million shares there. walmart stores taking down the exposure by 27% leighing them with little over 40 million shares and phillips 66, increased exposure with about 79 million shares. other positions remaining largely flat. >> we were going to debate that one, kate. thank you very much. kate kelly with the latest on the berkshire holdings there. >>> apple is outperforming. the stock up more than 10%. so is there still to time to get in on apple? joining us is gene munster and rick dohman. gene, especially with this disclosure that berkshire upped the position, what do you think about prospects of further stock a

berkshire hathaway, biggest financial stock of all, broke to a 52-week high yesterday. breakouts in the financial groups. i know the volumes have been anemic in the equities market, but look at the cme. chicago mercantile exchange. the futures market at the highest level since 2008. their volumes were up 10% in july. the futures contracts business has been doing very well. people complaining about the vix, 11 a week ago, now 12 and change. you will see it moving up slowly but surely in the next couple weeks because september usually is a little more volatility month. look at the vix futures for september, october and november they're not 11 or 12, they're 15, 16, 17, the market is anticipating more volatility. you said a lot about walmart. want to point out an important thing about walmart. a huge $20 billion share of buyback announcement back in october. they will do it over two years and already done ain't 7 or $8 billion. $12 billion remaining. this is a huge number. remember the company has about a $220 billion market cap. they will take about 10% of the company bac

apple, berkshire hathaway upping the staff. u, are you buying this berkshire bounce on ap snl. >> look. he bought it at the sweet spot. the average is cost bases $97.50 and below $100 you buy and trade it up and trade it in a range of $100 to $125. i believe's about and we said this, 2017 a 17 story. that's when you want to own it going into '17 with an old installed base to upgrade and a new phone with a new screen and better technology. seeing a cycle to facilitate a move higher and 125 level i'd be a seller of the stock. >> but you're bullish here. >> at these levels, yes. we are bullish here. establishing a full position at the levels? no. we want to wait until the fall and jump in head first for a massive ramp with the upgrade cycle to facilitate the stock or help it catapult up a little bit. we have $125 target on this thing. >> larry, not to knock them, obviously, you know, some of the successful investors got it wrong. are you buying into this apple trade? >> i would agree with david. near term it's extremely overbought

brought in an expert on this one sarah moyer is joining us on the pulitzer winning realtor berkshire hathawayed to do with that? >> stucco first and for most is typically the most expensive issue that sellers don't know. there could be problems. and you see here is what it looks like to have your stucco tested. >> okay. >> stucco if it's not installed correctly can have moisture issues. >> sure. >> behind it and we see in real estate market that sometimes people have to rip all of the stucco off their house and redo it. >> you just have to do it because the buyer will demand it any way if there's an issue so it's just good to go ahead and get this done before you put it on the mark? >> absolutely. take the guess work out. >> all right. next up to me i know this is big one the liner issues can be people don't have a liner they don't know about a liner. war the issues with the chimney. >>> older homes have masonry chimneys. make sure the clay tile is still intact. if it is not replace the with clay tile or you can do more popular now are stainless steal liners insulated, and they help protect t

closing at a level cutting off dividends to berkshire hathaway.$255 million a year of dividends from dow chem call. >>> frum trump getting a former leader of uk independent party reminding vote that's the situation led to great britain parting ways with european union is not so different from the presidential race here at home. where is he? stuart varney, are you there? >> am i here? yes i am here and nigel farage will be with us later in the program today. yeah, we've got him on the show after his appearance with donald trump last night. look, go back to the "brexit" vote, when the brits decided they would leave the european union. i think there are parallels between that vote then, late june, and our vote here in november. we have been saying this for a long time. the vote to leave britain was opposed by the entire establishment, virtually worldwide. i mean business, media, government, universities. universally said, oh, please you can not leave europe. don't leave europe. the establishment was dead-set against it. well the brits left. same stor

what's the details on the buffett-- >> berkshire hathaway boosting the stake in apple 55%, from 9.81illion shares all the way up to 15 1/4 million shares, carl icahn, george soros, are getting out, concerned about a lack of growth for the stock, but warren buffett, look, he loves slow growth companies, that's his kind of thing, a big pile of cash and nice dividend payout. as the others are running away screaming, he likes to buy liz: he bought when it's headed to 90. stuart: i've got it as a low 90, 96, 97 and 109, a 10, 12% gain. >> warren buffett, it's classic. it's a firm company. he's got 50 billion every year of cash flow and lots of way to reward investors. they're sitting on 250 billion in cash more or less, sounds like something-- apple, call it varney, people would be buying it. stuart: do you think? [laughter] >> 13 times p.e., microsoft is 20, it's cheap. stuart: want to get to trump. can we have a week where we don't say why did he say that, can we have a week? lee carter, you've got the focus study and the last two weeks, trump lost the independents. >> he did. stuart: c

the berkshire-hathaway has 15 million shares, other big investors are telling apple. -- selling apple. he usually shies away from rich gear stocks, this could be a sign that apple's growth is slowing and now considered a value stock. >>> twitter shares shot up to 7% after reports that the at least creating an app for the apple tv. that's where it could stream live sports games and twitter recently won the rights to stream nfl thursday night football. and it could use the new app to stream those games for free. >>> and a milestone for shack shack. it's opening the 100th location today at the boston sea port. the first was here in new york at madison's square park. to celebrate though the first 100 customers at shake shacks worldwide will get a free shack a.m.. burgers for breakfast. chris and cindy? >> oh. on to something. even longer lines today. all right, jill thanks so much. appreciate it. >>> coming up next, is your job eating away at your paycheck? how you can cut the expenses of going to work. >> and the connection between vitamin d. and asthma. how the supplement could help som

appalling things said in some e-mails about going after trump, bernie sanders let's talk about berkshire hathawayt rates billionaire criticize trump's business record a little bit of oracle. >> it takes some kind nerve somebody else, to really have the notion that 325 million people you are the only ones can fix it i think when splb makes a statement like that, you should look at his record, when he appealed to american public before. now donald trump has been in a lot of businesses lad a lot of bankruptcies, but usually that is just involved borrowing money from american public. >> david part of donald trump's appeal business acumen do you think this hurts him. >> it is not you know it is mark cuban. >> going to have effect with some in respect tos to some degree nobody knows how much. >> about warren buffett attacks bankruptcy code exists different forms for businesses about saving business a lot of times worst case entire company fails everybody losses a job, or you are restructuring reform the company trump needs to hit back being with what that means to american people when it happens also w

berkshire hathaway owns 15.2 million shares of apple. that's so 1 1/2 billion dollars worth.k at that, apple shares are up 20% since then. you know, typically doesn't like to buy tech stocks. he says his deputies did it. that turns out to be a good investment for him. >> he's not complaining any time soon. christine, thank you very much. >> you're welcome. >>> let's take a break. donald trump's harsh rhetoric impacting his party. it's not just about the big i election, it's all the races below them, including new hampshire senator kelly ayotte's race. now, what is going to happen with her re-election? will it be a negative reflection because of trump? what the senator had to say to our reporter next. ♪ hey, is this our turn? honey...our turn? yeah, we go left right here. (woman vo) great adventures are still out there. we'll find them in our subaru outback. (avo) love. it's what makes a subaru, a subaru. get zero percent on select subaru models during the subaru a lot to love event, now through august thirty-first. "you don't want to live with mom and dad forever, do you?" "b

. >> this time, very close with warren buffett and berkshire ha ha hathaway. >>> toll brothers rising, after reporting. it appears mortgage rates are helping to boost sales. chairman says the solid economy and employment picture benefitting the company's target customers. those shares up more than 8%. also this morning, very strong new home sales data between that and the earnings lifting the whole sector. jm smuckers lower. beat street estimates. disappointed revenue. the shares down nearly 8%. >> not a parent in my shopping but that's interesting. >>> just about 12 minutes left in the trading day. we have the dow and s&p holding on to gains. dow up 20, 25 or so. >>> big day for michael deal here for the data economy when we come right back. the heirloom tomato. intensely-flavored. colorfully-diverse. beautifully-misshapen. cultivated for generations, it's the unexpected hero of any dish. when you cook with incredible ingredients... you make incredible meals. fresh ingredients. step-by-step-recipes. delivered to your door, for less than $9 a meal. get $30 off your first delivery blue