i would be lost at berkshire-hathaway. sue: yeah, i think if we tried to understand all those things, we wouldn't be very good board members. i think we look for great ceos that are able to run those businesses, and that also feel very much aligned with the berkshire values in terms of how we generate cash and create value. laura: i wanted to change the topic for a minute to one that's big in the news, what's going on around immigration and the tech world. and i'm really curious your take on where this is going. i mean, it feels like there's just this increasing clash with the trump administration. do you think they need to figure out how to work with the administration? any thoughts on where this might go? sue: no, i do think that washington and silicone valley really need each other, and i think this is the core issue where there is not alignment. and i don't know where it's gonna go. i think that when you look at the whole trump agenda, there are puts and takes in that. some corporations are excited about lower taxes, t

berkshire hathaway has $86 billion in cash. $200 billion in revenue. we'll probably learn more about this at the shareholder meeting in omaha if not sooner. >> do you have your plane ticket? >> i'm ready to go of. >> sutherby's turns a profit and that's where we begin. the auction house sent strong demand for art pieces made by david bowie. helping the company with expectations. they said the purchases in 2016 helped the overall results. it soared. zpoet video companies shutter stock said an increase in pay downloads led to a strength in sales. however, it was offset. they were down more than 16%, 43.02. >> ask the low pressure medicine delivered promising results. they said it plans to meet with the food and drug administration to discuss submitting a new drug application later this year. shares skyrocketed. >>> meanwhile in flight internet provider go-go reported a loss in its latest quarter. the results were still better than expected as the company been fritd higher customer use an. revenue did sxris that also surpassed analyst expectations. maybe

that with the announcement we made three weeks ago of the reinsurance transaction we did with berkshire hathaway basically off set a large part of that reserve strengthening. going forward we're sharing the risk with berkshire on this historical set of underwriting decisions that go back decades basically the last 40 years. so while a very large number even for a company of aig's size, the 5.6 is off set by the very substantial reinsurance transaction with berkshire hathaway where we have an offsetting gain of 2.6. i think this is a manageable adjustment to our reserves and radically reduces the uncertainty around the book value of the company and gives us more secure earnings going forward. >> another way to think about this is the company is trying to be less leveraged, so to speak, to the market. you know, to make it a steadier, more boring, more predictable company. that is not exactly what's happened. >> it sounds to me like he figured they were hedged but somebody disagrees. >> not only that, they've had pressure on them in the past from carl icahn. maybe it was einhorn. no, john paulsen a

either way, it's a huge vote of confidence from berkshire hathaway. big adds to the airline holdings. berkshire more than doubled its position in american airlines. in delta, he added 54 million shares and added 24 million shares to united. some new positions as well, he also increased or added a position of 8 million shares to monsanto, which, of course, signed a deal to be acquired by buyer in october. that deal is still pending, he took a stake in sirius xm as well. the company adding 166 million shares. these are as of the end of the year. we're still digging into the numbers a bit more and we'll get back to you soon. >> sold out of walmart, sold down from verizon, leslie, thank you. >> there's a lot happening here, the sirius position is interesting. >> it's a company that's in the drama. there's some clustering there with in billionaire value investors, i wouldn't be surprised to see them in the same place. in terms of the overall turnover, i feel like prices changed a lot. when prass change a lot, you have a lot of things that get revalued in a

berkshire hathaway did. whether it was buffett himself or the two gentlemen who run that portfolio did, the point has been made. >> i'm saying it's good for berkshire hathaway holders. it shows continuity. >> i was in a meeting on monday and had a chance to see richard anderson, former ceo of american airlines. less about infrastructure, that money is there, they're spending it or at least putting the money out there to be spent. it's about the free sky. they have to have those agreements in place. >> last point you want to make? >> no, i'm taking it all in >> veg taken all of this in, at what point do you start to reassess your own view on where we are? we've discussed this off-line, in that maybe people who are growing cautious areunder estimating the genie that's been let out of the bottle -- no offense, pete. >> i gotcha. >> that's a great point. >> you son of a gun. [ laughter ] >> it's wrong to be cautious the first weeks of the year. it's been a great market. it means the data sets we look at are the

aftercision came berkshire hathaway. a negative response impossible,is according to people familiar with the situation. biggest have been the ever take over. products wereent held off of balance sheets. that is an increase from the years earlier. they are at pace for normal anding and undermine efforts. the there will be more bonds sold in china this jpmorgan says that have dialogue -- tive say that capital markets now consists of -- rockethas launched a the spacerrying to station. the rocket landed without problems and that is your bloomberg business flash. >> thank you. speaking,other member adding to the narrative of the increasingly hawkish fed. >> i would be happy with this, if the economy kept going the way it is going and i am comfortable with that. i do not think we are behind the curve. delay, youinue to eventually come from behind. luis joins us. the train has left. you look at markets. time and theyh get more bullish. paying committed to of the exposure? had clear political risk. risknk that, the political is

berkshire hathaway making moves. it raised its stakes in appleby 42 million shares. it now reports owning 57.4 million shares which would make berkshire stake worth more than 7. $7 billion. that makes buffet's firm one of the biggest ten apple investors. also reporting a $9.3 billion airlines stake. we knew about these investments -- we knew it made these investments but these are much bigger. they increased them dramatically. at this point he owns american, 9%, delta 8%, southwest, 7%. united 9.1%. that makes him the number one or number two owner in those airlines. the congress glom mer rate talking about theirs. buffet says he's not going to be speaking about any of these issues until he sits down with us on "squawk box." that is coming up on february 27th. that will be three hours. the live ask warren show. it's not too early to send in some of the questions you might have for warren buffet on twitter or facebook. if you do that use the hashtag #askwarren. we'll ask him about the annual report that comes out on that saturday. he'll sit down with us for three hours

we've been parsing through latest quarterly numbers on berkshire hathaway's holdings and we have twods to focus on. apple and airlines. are more than tripling its position in apple, now holding 57 million slayerhares. that's today. but in today's prices it would be north almost $8 million. in some cases more than triple down. berkshire buying 24 million shares. 24 million more this united and 54 million had in delta. we knew last quarter they had invest in the southwest but we didn't know how much. today we learned that berkshire holds 43 million shares in southwest. we are digging through more of these holdings and others and will come back swoon more details. >> thank you very much. leslie is pouring through the filings here. what does that tell you? in the laugh quarter, apple's range. any place you pick it, it is a profit. what do you do? >> i don't think you initiate a new position. i think this story will be for the whole year. it is ball the iphone 8 coming in september. so you'll get a chamnce. don't buy just because you heard buffett bought it. >> especially with you're list

warren buffet's berkshire hathaway almost quadrupled its stake in apple. meanwhile the peltz fund took a $3.5 billion stake in procter & gamble. leslie picker has the latest on these big moves. >>> david tepper's appaloosa making some big bets on pharmaceutical companies. buying 5 million shares on teva and 5 million in pfizer and 3 million in mylan and allergen each. they like bank of america. we saw more capital, tiger management and third point all adding more than a million shares each in b of a. they took stake in citigroup and jpmorgan. these are the first stakes taken since the election. tech was also an interesting play this quarter as berkshire hathaway tripled its position in apple but other hedge funds were less optimistic on the sector. tepper cut his stake in apple in half. we saw other sales in amazon, facebook, alibaba was another stock that experienced some selling. back to you guys. >>> president trump's sons eric and donald jr., they'll be heading to dubai for the opening of a brand-new trump golf resort built by the uae based properties.

another story, berkshire hathaway, the annual letter was a great thrill. company doubled its stake in apple. chairman warren buffett says it now owns 133 million shares. some more bought -- katherine chiglinsky joins us now. is this warren buffett or other money managers under the umbrella? buffett went on cnbc earlier today to talk about the investment in apple. he more than doubled his stake in the technology company, which is a lot more than we learned at the end of december. he mentioned while he manages the bulk of the investment, it is one of his deputies that picks the other bit. that is treating because buffett himself is adverse to technology stocks. he showed his flip phone on tv today. he is not that into technology. it shows the growing influence of time comes and ted weschler, his two investment deputies. he did not clarify which one it was, but it is an interesting sign that he is willing to plow into the company. cory: it is interesting to me because when you look at the investments, one thing i noticed in the letter, one of the things i not

miles, berkshire hathaway at an all-time high today. nervous at all about that stock considering the run it's had along with the rest of the market? >> no, i'm comforted as a long-term shareholder. i didn't buy or invest in berkshire hathaway to flip it because it's gone up 10% or 12%. i'm a long-term shareholder. so, i'm comforted that it's in great hands. it's enjoying $70 million a day flowing into omaha, which are reallocated by the best capital allocator possibly in the history of capitalism. >> but that change is coming at some point, right? >> yes, it is. >> about who the capital allocator is? >> yes, but i was also comforted to hear an 86-year-old on television this morning, on cnbc that was very sharp and recalled figures and facts better than most mortals. so, i'm comforted that his -- we're in good hands. >> especially at -- >> 4:00 in the morning. >> yeah, whatever time it was and his fourth diet coke of the day already by 4:00 or 5:00 in the morning. it was a very good morning on cnbc. robert and vahan, thank you very much.

abigail: and surprising additions to berkshire hathaway's portfolio lester. we are looking at some intraday volatility for the major averages here in the u.s. from the upside to the downside, the dow and s&p 500 started the day higher and then into president trump's press conference with heads of manufacturing, those traded lower. the dow has recovered. we see the s&p 500 is to lower. averages did put in all-time highs earlier. daynasdaq has been down all . on pace for its worst day of the month of february. 500, we takehe s&p cannot we areimap seeing a pretty even mix between red and green come helping to explain why the decline is pretty small. industrials is the worst sector, down 1%. at an intraday chart of the s&p 500 industrials index, we see that this index has started the day higher and then into the press conference with president trump and many of the ceos of manufacturing -- a studyn ahas started the dy dip down. as for what is dragging on this index come in many of the companies represented at that , generalference electric from emerson electric a

billionaire warren buffett has revealed his company berkshire hathaway has over $18 billion investedn apple stocks. makes work sure hathaway one of apple's top-five shareholders. buffett has announced he has stopped buying apple stocks because of its high price. good news for u.k. fashion retailer fans. rising.rofits to keep total sales are expected to be up 11% while 16 new outlets have been opened in the u.k., the eu, and the u.s.. warned ofy has falling sterling. and teaming up with public transport operator to work on a .ribalist vehicle they will start with tests of the art existing -- electric car that is most sold in europe. that is it for the business news. anchor: more business news later on in the evening. we are going to take a quick break. more news coming up. qéa [captioning made possible by democracy now!] amy: from pacifica this is democracy now! you allt trump: i want to know that we are fighting the fake news. fake, phony, fake. a few days ago i call the fake news the any of me -- enemy of the people, , and they arere. president trurump intntensifies his s war on the

airlines, similar story, warren buffett also announcing a stake with his berkshire hathaway. so he now owns with berkshire hathaway, anywhere from seven to over 9% of the four major u.s. airlines. that contributed to the gains there across that sector. back to you. david: lori, thank you. melissa? melissa: the president's talk of tax reform this morning giving stocks a big boost, making those comments at 10:43 this morning. >> we'll also reform our tax code to help middle income families and american businesses grow and thrive. tax reform is one of the best opportunity to really impact our economy. so we're doing a massive tax plan. it is coming along really well. it will be submitted in the knot too distant future. melissa: how distant though, that is what i want to know? joining me, jonathan hoenig, capitalist pig hedge fund, fox news contributor, kevin kelly recon capital. kevin, pretty straightforward, lower the rate and get going with this thing. >> we shouldn't make this too convoluted. melissa: right. >> that is what everybody wants to say, now that republicans have th

at the end of last year berkshire hathaway owned $7 billion worth of apple shares. holding of all the major holdings berkshire has. this morning on air warren buffett talked about how they were buying up until the beginning of the year. they stopped when got more expensive, but the earnings report apple had earlier this month came out and bought another $10 billion worth of apple shares. so it's now a $17 billion position. that makes it its second largest position, second only to wells fargo, just about neck and neck with coca-cola but ekes out just a little more than that. he talked about how he looks at this stock and how he does research for it. he goes around and even in places like nebraska furniture mart, right here, this is one of the berkshire companies, he'll be looking at people seeing what they're coming in and buying and trading in phones what they're trading them in for, but he says this isn't the only place he does his research. >> when i take my great grandchildren to dairy queen, they bring along friends sometimes. they've all got an iphone. i ask th

i want to check on some companies that are mentioned, berkshire hathaway added investment in monsantoillion shares at the end of the year, also a new steak at southwest airlines tied at more than $2 billion. it added stakes in united and american as well, and boosted its stake in apple. in the meantime, berkshire cutting its stake in walmart, shares off a little bit, and berkshire exited its stake in deere. those shares are unchanged. boosted its stake in heinz and herbalife, cutting its stake in paypal, nuance, freeport-mcmoran. berkshire, it is probably holding those positions for a while. , a little more nimble, so this is a snapshot of its trading positions at a moment in time. has sued and thumb after ending their $48 billion agreement, a deal blocked by a u.s. judge, then minutes later, and from said cigna had no right to terminate the agreement hear it for more, let's bring in drew armstrong. what is going on? >> so much for valentine's day. cigna is trying to get out of there. it looks like we are entering what will be a lengthy and protracted legal fight after this 18 months

bret baier the reading of the tea leaves of berkshire hathaway ahead of warren buffett's q3 earnings. so glad you're with me. let's start the "countdown.". >>> okay, a couple of breaking news stories here. let me get to this, inside the white house now, the president of peru is now inside the white house with the president. he is the first latin american head of state to visit, and you can bet he will have plenty of hot topics to talk to the president about from trade to immigration. by the way, if you don't know about him, he is u.s. educated, former wall street banker but not happy with what he perceives to be protectionist moves by president trump and his administration. if we get anything on this meeting, we're going to give it to you live. >>> moves to the markets, the dow poised to snap streak of ten record closes in a row. we can see it is down 56 points. the s&p 500 having its worst day of the month. it's down about four points, earlier down ten. we're off the lose here and the nasdaq is down sev points. j.c. penney not in passionate this hour. the embattled department store c

a cheryl of berkshire hathaway with a focus on regulatory and tax reform as well as infrastructure improvement could be carried out to ensure freight and rail roads remain competitive against truckers using public roadways. >> commerce must find a way with the infrastructure they use to increase fuel taxes, a distance fee or similar proxy. this isn't something that must happen eventually. it is time to look at it now. it also recognizes this. >> they focused on new technology from electronic devices to even cyber security. as a connected network becomes the trucking business model of the future. it was the latest fact finding mission as lawmakers try on find what it will take on modernize american infrastructure and do so without breaking the bank. for "nightly business report." >> verizon reportedly gets a better price for yahoo! and that's where we again. t >> there is a deal with yahoo! for up to 300 million less than the original offer. last year they offered to buy it for nearly $5 billion but that cause on the merger. it suffered two big hackings. verizon shares were off a fraction. yaho

he was head of the finance committee, a senator, he owned berkshire hathaway stock.bit. he coined the line, don't tax you, don't tax me, tax the person behind the tree. if you want to be neutral -- if you want to be revenue neutral, it's going to be very, very tough. you'll have everybody saying tax the fellow behind the tree. i think they will end up going for something not as dramatic as they might even like to do because they simply don't want to spend the time and political capital to get it done. people realize you control the whole place, you better get your stuff done at that time. they look at the first term of the obama administration and use up capital and use up time thinking about the midterm elections. so i just have a feeling when the treasury secretary says have this by august or something, you're not going to get a 1986 type overhaul or 1954 overhaul or 1969 overhaul in that kind of time period. >> meaning you think something gets passed with lower rates but not border adjustment tax or something you haven't tried. >> i don't think it's likely to get

berkshire hathaway, standing at 400 billions. and amsz at $389 billion. just for a little perspective because there was so much tech dominating, why don't we throw in facebook. similar names, but the relative valuations, they could not be more different. diametrically opposed. at the end of 1999, microsoft and intel sold at 65 times earnings and 35 times earnings respectively. the presumption, a new world was upon us, the internet world. these companies had the software and the hardware to make it all happen. this was the golden age of the desktop. but when we look back, we see a different story. the earnings explosion so many people expected from these two companies, it never happened. in fact they spent the next couple of years with uneven numbers, maybe even in the wilderness, nowhere near justifying these price to earnings multiple as the growth wasn't in a straight line and the desktop became a commodity utility. cisco's earnings pretty much collapsed soon after its business got crushed by the implosion of tons of telco carriers that had been able to

the biggest buyer wasser berkshire hathaway. it bought part of a larger accumulation of a company. the key things buffett did not panic when markets dropped. instead, continuing to buy more. just that one february purchase has earned more than $6 million. we found one big name buyer earned a higher return than dimon. steve will nguyen's purchase of his own company is up 67%. not bad for one trade a year later. and then there's elon musk who may have had the best trade of them all. he bought solar city a year ago. sold it for tesla stock in sxaug then saw tesla shares rise even more. in total that original purchase has made him $7 million. had nearly a 70% gain. for "nightly business report." >> and it's not just the inislanders seeing gains with. the major averages at new highs, there's growing belief fund managers could have a good year and there is early xags january was good year for them. so is stock picking making a comeback? a writer at fortune magazine joins us now to talk about. that jen, welcome. nice to have you here. what are you hearing from the managers you're talking

hathaway,f berkshire many investors are eagerly awaiting berkshire hathaway's annual letter, the firste see it is quite strong. holding that has done very well over the last year, up about 40%. end oflines added at the the second quarter and beginning of the third quarter. it will be interesting to see what does come out of all that. , some ofe top holdings the top holdings for berkshire hathaway and what helped to drive the big performance out of the election, we are looking at ibm, heinz, wells fargo, and of course, the airline sector, up 9% since the election and since it was reported that berkshire hathaway took a stake in the airlines. george ferguson of bloomberg intelligence told our team weeks ago that the fact that warren buffett has such a big stake in the airline suggests he may think that fuel is likely to stay at current levels, oil lower for longer, plus a progrowth play. it will be interesting to see what the annual letter perhaps. lisa: thank you so much, abigail doolittle. is a war between bulls and bears on treasury today. we are seeing a rally on the 10-year, but the

huff's church and berkshire hathaway county 5.1, valley forge 4.5. not expecting any snow over the weekend. certainly cold enough on friday. very cold day. only 28 for the high in lehigh valley. much warmer on saturday, mostly cloudy skies. sunday we're expecting rain m e move. >>> up next, passing the torch, the major change coming to the next olympics. >> and a surprise from george and amal clooney, the news that has the entertainment world buzzing tonight. . >>> george clooney is going to be a dad two times over. the actor and his wife amal are expecting twins. the babies are reportedly due in june. the children will be the first for the couple who tied the knot in 2014. diaper changing for george. >> times two. >>> bad news for fans of the '90s classic film "mall rats." >> director kevin smith says he won't make a sequel after all. sorry, folks. "mall rats 2" was supposed to be filmed at a mall in chester county but in a post on facebook smith explained the sequel just isn't happening because it's been turned into a series instead, though he's st

would join a very exclusive club that right now has four members, price line, nbr, seaberg and berkshire hathaway>> thank you. >>> where do the options market stand in alphabet amazon race to $1,000. let's get to mike for a call to action. >> looking at options market two things to consider. first is the options market expecting a big implied move in the near future and the other is is the flow basically bullish or bearish. we're going to take a look at both of these. amazon now, three-month 3% versus 6% for alphabet. options market expects amazon to move more sharply than alphabet. however, if we take a look at what that flow looks like. bullish bets outnumber by 10% with alphabet while bearish outnumbering bullish by amazon. the flow is definitely more bullish in google. so when we take a look here, we're basically trying to target $1,0 $1,000. what's interesting opgsz are cheap. the trade april calls $22.20 for contract. 2250 for a contract might seem expensive. 100 shares of cost cost $184. 3% upside make this trade to make money. if it went down by more than 3%, that would be the risk. that'

priceline, nvr, seaboard corp and berkshire hathaway. back over to you. >> thank you.ere do the options markets stand in the alphabet versus amazon the race to 1,000? let's get to mike for a special call to action. mike? >> so, when you're looking at the options markets, there's two things we wanted to consider. the first is is the options market expecting a really big implied move in the near future, the other is, is the flow bullish or bearish? we'll look at both of these. so, amazon right now, the three-month stat is trading around 7% to the current price versus 6% for alphabet. that is telling us the options market expects amazon to move more sharply than alphabet. however, when we look at what that flow is looking like, we actually see that bullish bets outnumber bearish ones by about 10% in alphabet, whereas bearish bets are outnumbering the bullish ones in amazon by 10%. the flow is more bullish in google. when we take a look here, we're trying to target 1,000. you know what's interesting is options are pretty cheap in here. so the trade, i think you might want

the decision came after 3g capital and berkshire hathaway, which own about half of kraft heinz am undecided they negative mergere made a impossible. japan posted a bigger than forecast trade deficit as car exports declined and energy import costs increased. imports rose 1.3% from a year earlier compared to forecasts of a 5% increase. a drop in exports to the u.s. reflected a slide in car sales that underscores the preference of many american consumers for suvs. the white house chief of staff says donald trump and his advisers are not aware of any contacts tween the president's associates and russian agents during the 2016 election campaign. reince priebus' comments come after "the new york times" reported that the trump campaign had contacts with senior russian officials during the election. london house prices posted the largest annual drop in almost six years in february. the average asking price in the capital fell 0.4% this month from a year earlier. that is the first annual decline since 2011. the housing market underperformed the rest of the country last year after high prices, brexit

he more than doubled berkshire hathaway's position after the last filing. s berkshire hathaway's's to 18.2 billion. berkshire hathaway is now the number five in apple. this is the tv 6293. very semi-to a happen back in 2012 and 2013. the next upgrade cycle, overwhelmed. last year, he took a big dip down. we are looking at gains. this chart for the medium and long-term is alleged. one new wants for the near term, up near 87. maybe 125, nothing too big in the grand scheme of things. apple does support berkshire hathaway's decision to up its stake. yes.e: think about its position in the index and waiting. thank you. we are staying on apple now warren buffett said berkshire now owns 130 million shares in apple. find unnamed deputy. catherine joins us with more. the does it say about influence of buffett's deputies at this point? >> if you happen following over the past year, it has been a very interesting year. he has been a first two tech stocks and has railed against airlines and now, major carriers. it shows the growing influence of equities. they have a vary

berkshire hathaway is doing well on the buying part.cialist hunter harrison is demanding $300 million in pay. the board will be considering this as jack dorsey revealed he bought 426,000 shares this week after that disappointing quarter. , tradingherbal life slightly higher as carl icahn has upped his stake. he is now the largest shareholder with about 24% of the herbal life shares. carol and david? appreciated, abigail. let's get more on the markets from katie stockton. also with us, michael regan, who leads coverage throughout the day. katie, i want to start with you. the s&p 500, a lot of folks have come on to say that it is getting pricey and overvalued. what do the charts tell you? , ase: there is a momentum you can imagine. it's a good thing. i know that people tend to worry. carol: it feels like a clean run up, it feels like. katie: it is and it has refreshed itself over the last few weeks, as we saw. little pauses to refresh. marketmentum behind the is across time frames and short, intermediate and long-term. that is over will -

warren buffett's richer halfway has posted a 15 sit rise in fourth-quarter -- berkshire hathaway hassted a $.15 rise in fourth-quarter profit. precision carand parts were acquired by buffett last year. -- duracell and precision car parts were acquired by buffett last year. this coincides with buffett's annual letter to shareholders. stated way from politics and focused on his critique of the investment space. $1.5 billionto being wasted due to the rich being swayed by that advice from wall street. over the inquiry of russian interference in the u.s. election. the u.s. election. associates in moscow. many are slamming the trump administration decision to outlets from a news briefing. outlets including senior times and cnn access. this comes after cnn reported chief of staff reince priebus had inappropriately discussed the russia investigation with the fbi. two newsled the organizations "fake news" and hit back.uld secretary spicer: we will not sit back and let false narratives get out there. 's damages from the emissions scandal has risen to $24 billion. the fourth quarter challenges

the decision came after 3g capital and berkshire hathaway decided the negative response made a friendly merger and possible. it smacks of a bazaar u-turn. >> there may be some leakage in terms of the story. >> the moment this bro, you had the stories, may telling government officials to look into this and see whether they need to step in. unilever is headquartered in the netherlands, where they have stringent controls in place. said theyfett has were very clear. we would go where we are welcome. lever made it clear they were not welcome here, so they probably decided where they spent this time going back-and-forth and getting into this war of words when we don't have it from a takeover target. falling in hong kong after the bank reported a fourth-quarter loss. billion loss of $3.4 for the three months ending in december. the bank announced a $1 billion share buyback. we were encouraged by our loan growth in the fourth quarter of 2016, creating some momentum for 2017, but i would point out over the course of 2016, an interesting year by many accounts. we managed to hold the revenues flat

capital and berkshire hathaway, which together own have a kraft heinz, decided that given unilever's position that they did not want to go forward, this transaction would be impossible. and both companies believed the protracted war of words probably was not in the best interest. the statement says the bid was withdrawn amicably. you look at the charts here. that is a huge shoot up in the stocks we saw on friday for kraft heinz. it actually hit a record, up 11%. and if you look at unilever's a similar jump, up 13% on friday, also closing at a record. a lot of observers are the world, especially since wednesday, kraft has downplayed the need for an acquisition and days later made the offer. they also say -- the desire for consolidation within the food industry. we'll likely see more action down the road from one or both of these parties. betty: i not sure that story is over quite yet. how about oil? you are watching that. su: direction question is big. for one reason. . this has become a rather "boring trade." let's go to the bloomberg. because we are now heading for one of the narrow

for a guy that once shunned tech, apple is now the sixth largest holding in berkshire hathaway behindmerican express, ibm and coke colda, apple represents just under 5% of the stock portfolio. berkshire, of course, known for value investing, continued to put money to work in apple, sign that it thinking the stop has room to run. other investors were less optimistic, tiger global management showed in its filing that it dissolved its position in apple, third appointed and it is -- back to you, jon. >> thanks, leslie. >>> for a closer look at apple, we bring in walter price, and brian white, drexel hamilton, global head of technology, hardware and software. gentlemen, good morning. brian, this planet of the apps show that apple has a trailer out for now, not getting the best reception, but at the same time part of the argument for apple going higher is the services business. i know that this show itself is negligible when it comes to retch prospects, but just in terms of isn'tment and what it says, does it factor in at all for you. >> the most important thing is keeping this ecosystem ex

interesting we have seen so many tech leaders over the years who seem to have a great love of berkshire hathaway understand that business regardless of its lack of overt technology. if you look at the railroad, if you look at so many of the holdings, all of these companies are being transformed by technology. he is buffett knows spending money to make these companies better through technology. >> definitely. you cannot avoid that conversation forever. he mentioned on cnbc today is budgetary mentor questioned some of his bets a little bit. he said i cannot avoid things forever. things are changing. that does happen. i think that is what he is saying with some of these different bets, with apples, with airlines. they had a bad first century but they are doing better now. i think he is willing to change his mind. cory: airlines is one he has always hated and regretted. katherine chiglinsky, thank you very much. executivethe chief opens up about president trump's expected tax overhaul and gives us a look at how complicated taxes can be for businesses in technology. this is bloomberg. it ♪ cory: soft

buffett and berkshire hathaway? in terms of apple and getting as big as they did.lines. >> it doesn't bother me. i think when it comes down to it. he either says yes or no and that's the end of it. i think when they're presenting these things, you look at the books and dealta america and united and southwest, it makes sense why this fits into mr. buffett's category. . it could be a name to take off the table. >> price line. basically trading at all time highs. the trades at 22 times forward earnings. i think price lyine will contine to rally. >> double earnings average, double the fun. >> you just love it, right? okay. let's start with marriott. first off, the world's largest hotel operator in its first full quarterly report card after the $13 billion acquisition of starwood. hitting a high and pretty much confirming the numbers. also slightly better on the most important metric when it comes the hospitality. the average revenue the hotels can earn on each and every room. they're also giving back a lot of money. expecting to return $1.5 billion to $2 billion in sha

. >>> warren buffett is saying that he bought $12 billion of stocks for berkshire hathaway since president trump won the election in november. the quick succession of purchases saw his company match 50% of its total equity spend in three years in just three months. >> and the billionaire, ray dalio is increasingly turning sour on donald trump. the founder of the world's largest hedge fund says there is significant risk that the president's populous policies could hurt the world economy. this contrasts with his previous rhetoric. back in november, mr. dalio said trump's business activities would be positive for the economy. where do you stand? will this be positive or negative for the economy? >> we don't know. we've seen a significant increase on both the tail risks of what could come out and gets delivered. if you go back to last october it was a one-sided world. low growth, low inflation. there weren't a lot of prospects that there was much in the pipeline that could increase that. that side has increased. i think that doesn't necessarily say that we are moving to a better world. but it

theng to people close matter, there was a decision to pull the offer made by 3g couple and berkshire hathawayown half of kraft heinz. a person close to the matter said it was a view that a friendly transaction was now impossible given unilever's reaction. believed a protracted war of words not and kraft heinz's interest. they said the bid was amicably called and both companies would have time to reconsider. streets a view on wall that this story may not be over. take a look at the charts, the kraft 30 day chart shows a dramatic spike on friday, both stocks had huge grains, but kraft was up 11% to a record on word, which came out earlier than kraft heinz was hoping. friday, up some 13% on again closing at a record. observers are scratching their heads on this one, particularly since kraft heinz had said in its conference: wednesday that it was downplaying the need for an acquisition, while it appeared at the same time to be preparing an actual bid. offers view by analysts who watched of this deal, being tendered, then withdrawn, that it reflects a desire for consolidation in the food industry,

it doesn't bother with berkshire hathaway, but it would have bothered yahoo!hen investors had to come in and save that company from its self, which is what happened. we see that over and over again when companies faceplant, outside investors can say we are the owners of this company and we can make this thing better. that will never happen for snapchat. caroline: david, you know the inner workings of facebook and mark zuckerberg well. even as we see perhaps snap take a leaf out of mark zuckerberg's book in terms of voter control, you're seeing facebook copying again and again what snapchat is doing. can snapchat change the way in which the world works? david: i don't think facebook is primarily copping snapchat. -- copying snapchat. there are features they have snap, and that has been acknowledged by instagram and others. the comparison between the two companies only goes so far. facebook when it went public had the potential to become a world altering service that was used by almost literally everyone. unless you believe that is true of snapchat, you almost c

according to people close to the after, they came berkshire hathaway and decided this rebuffing of talks made a friendly transaction possible and it would not be in the company's best interest. they wereent said deciding amicably to step away. craft and the 30 day chart in the big spike there. chartw the unilever spiking to a record and that probably will come down we see trading begin on tuesday. observers find the quick withdraw a surprise, especially with the comments came out and they said this reflects a big desire in the food industry to consolidate. we have seen a lot in the last several years. let's see what else is going to move the market. the direction of oil is in focus. : knowing directly into the bloomberg to look at the narrow trading range -- the direction question will be big going forward. are heading into a narrow trading range for west texas intermediate. since january 2004, you can see the spike after the lehman bankruptcy but narrow since then. we learned oil platforms and rigs in the u.s. surged. the data shows highest levels since 2015 and drilling prices are up.

and that is what a lot of people know him for now, this guy who is building a conglomerate, berkshire hathawayakeovers, but the root of it all are these long-term concentrated bets on companies. it is not the diversification that you would get five buying an etf or index fund that tracks the market broadly. oliver: what i thought was interesting was that while it does seem a little bit jarring that this well known, renowned stock picker is saying you an index fund. it does make some sense when you think about the fundamental type of investor like off it versus investing through hedge funds and stockpicking has become today, where you see fund managers underperforming, hedge fund managers going after the same highflying stocks, and then they all go down together. i wonder how much it is a reflection of how investing itself is sort of changed. >> i think there is probably some of that in there. a big thing here, one of the people i spoke to for my article was this gentleman, he spend a decade and a half in the hedge fund industry. matert to buffet's alma columbia. he recently left, and part of w

new filings show buffett's berkshire-hathaway nearly quadrupled its investments in apple in the lasthree months of last year and it was a good bet those 57 million shares made him hundreds of millions of dollars. >>> banking stocks are soaring. goldman sachs, jpmorgan chase and bank of america are way up as the trump administration rolls back banking regulations like dodd-frank. goldman sachs up nearly 40 sense since the election. >>> the newest american girl doll is actually a boy. the toymaker yesterday unveiled the first boy in its 31-year history. he is a groovy guy. he plays the drums, based in nashville and his name is logan. mattel the owner of american girl says that customers have been asking for a boy doll. kenny? >> thank you, jill wagner of cbsmoneywatch.com. no movie references today because i can't think of one. [ laughter ] >> relating to that boy doll. >> you know what? anytime you have a movie reference, we love it. we'll try to bring that back on friday. >> 5:42. >>> a massive tree comes crashing down into part of a garage. a look at the total damage done to the cal

and you learned value investing from ben graham and it took him a long way and shaped berkshire hathawayharlie mondor came into the picture. and kind of reversed the thinking, so instead of buying good companies at great prices, he switched to great companies at good prices. and that turned everything around. charlie: it did have a significant effect. ben graham was the third person who had huge influence on him in terms of the basic principles he still applied, on the modifications you suggested. peter: and i think in a funny way, he was another father figure to him. he used to come to his house and watch movies and hang out with the family. he was very close personally. charlie: this is warren's children talking about him as a father. >> i would not describe my childhood as normal but who , knows what normal is. people often think that warren buffett was this famous rich guy. he was not famous and he was not rich when we were growing up. what i saw first and foremost day in and day out was consistency. every day we would hear the garage door close in the house. and then like clockwork,

buffett runs berkshire hathaway which owns all kinds of american businesses from c's candy, geico car insurance to fruit of the loom underwear. he says he is buying a lot of apple stock and thinks wells fargo which he has a big investment in, made a huge mistake by not owning up to its phantom accounts scandal quickly enough. a huge embarrassment for a bay area security company which says it accidentally leaked private consumer data for weeks. companies like uber and yelp depend on it to run their security, not to leak their secrets. and elon musk tweeted on sunday, spacex would make an announcement today, 1:00 p.m. california time. we have no idea what it is. could be a mission to mars or something not as important. but when elon tweets, the world listens. 1:00 p.m. back to you. >> less than two hours. >>> takata is expected to plead guilty today to criminal charges relating to the faulty air bags. it will also agree to pay a $1 billion fine. it's also expected to name attorney ken feinberg to oversee victim compensation. he ran a similar fund for 9/11 victims and one for the bp oil

viable companies in the world, the five giants we just named -- and then something's happened at berkshire hathaway exxon moved away. that's the future. these are the largest companies in the world. they are not going away. and maybe, uber and airbnb can join those ranks. when it comes to a.i. and virtual reality, some of it may be overhyped you look at amazon's echo, the talking device people are putting in their homes. my kids love it --it's a remarkable device, and it's getting better and better. charlie: how do your kids use it? brad: they talk to it. they ask it questions. charlie: weather, everything else. brad: everything. they are growing up now knowing they can speak to computers. that's totally foreign to every other generation. i feeling silicon valley goes through seven-year cycles. we are at the end of this one. airbnb, uber, and snapchat will soon.lic the next wave is coming around the corner. this not one company that's all about a.i. a.i. is something these companies are about. brad: it could be these five juggernauts are so great now they are almost disruption proof, at least for t

we have not heard much from anyone at berkshire hathaway them since the scandal.ecky and the team will be grilling mr. buffett on those topics. >>> nestle reporting disappointing 2016 results. the food giant seeing a slowdown and expecting sales growth to remain under pressure in 2017. revenue missed analysts forecasts. organic sales grew just 3%, the fourth straight year nestle has missed its 5% to 6% target. the nestle ceo spoke to cnbc earlier today. >> we certainly have a strong meet or exceed guidance. that gives us wiggle room in that regard. long-term, clearly there's a commitment to drive organic growth. we also have a commitment to be back in mid single digits by 2020. >>> take a look at nestle shares. they are down about 2% at this point. the ceo also said he is keeping his eye out for deals. >>> lenovo missed forecasts as supply constraints and a weak macro environment weighed on results. the world's largest pcmaker said soaring costs for components like memory and disk drives are eating into margins. shipments from the mobile phone business fell 26%, b

them to do this and get it in before rates go up more. >> a lot of that financing was from berkshire and hathawayf billions of dollars sitting around. if that's the financing structure behind it, 3g plows in some, berkshire would plow in some. if it's based on what they did with kraft heinz. then they'd have the equity. >> jonathan, is mondolez a buy on this selloff? it's trading like it's a wa wallflour wal wallflower at the dance right now. >> the structural opportunity that mondolez represents versus its food peers remains. if kraft heinz doesn't want to be the one to do that now or ever, certainly a proposal with unilever makes their shopping list bigger, but it doesn't necessarily take it off that shoppi shopping list. i think there's enough structural growth opportunity selling high-margin chocolate and gum to developing market consumers that makes mondolez somewhat attractive in its own right. now, certainly there's a time function of this and the credibility -- potential credibility of 3g management. i think that structural opportunity remains for mondolez. it's not a never necessarily. >

. >>> well, march madness will pay off for a berkshire hathaway employee this season.estor warren buffet is promising to give a million dollars every year to an employee who picks all the teams that that make it to the sweet 16. if no one does, the worker who gets the most bracket selections correct will win $100,000. in 2014, buffet offered $1 billion to the person who correctly guessed all the games. >> i don't believe anyone did as i recall. >> no. >> still to come on "action news" at 5:00 a check of that forecast for that you. >> looking live outside sky6 hd showing you 15th and j.f.k. in center city tonight. meteorologist cecily tynan has your exclusive accuweather five day forecast when we come right back. >> ♪ dear fellow citizen, i know what it's like to want to relax with your family. but enjoying today doesn't mean losing sight of tomorrow. so while i invest in "the now" my mortgage, vacations i still invest in the future, like my children's college tuition and retirement. i can help you piece together your financial journey for today and tomorrow. if you hav

he is offering a million-dollar a year for life to his berkshire hathaway employees who actually predict teams will reach the ncaa f no one picks every team the person with the most accurate bracket by end of the tournament will win a hundred thousand dollars. don't even have to match them all. march madness begins march 14th. >> that is one of the fun things, everybody does their brackets. i don't know any picks but sometimes by default. >> free cup of coffee. >>> 50/50 raffle. >>> do you see those rocks? it doesn't sound that exciting unless you live in one local town. there is a simple rock that can change everything. >> rock on. like a rolling stone. i'm lucky to get through a shift without a disaster. my bargain detergent couldn't keep up. so, i switched to tide pods. they're super concentrated, so i get a better clean. tide. number one rated. it's got to be tide >>> welcome back. good morning at 4:56. you have heard of a message in the bottle but how about a message in will rock an entire neighborhood. >> tell your neighbors they rock, a whole new phase that is happening right now

he writes to the berkshire hathaway shareholders about the business.e says at some point, it might be nice for you to sit down and write a letter, and given that it is the 10 year anniversary of his gifts, we've been doing this now for several years. we thought let's use that as a marker in time to really spend some time, bill and i, reflecting on what have we accomplished. if we were trying to tell him what his return on investment, what has the foundation really done? it ended up being a really good exercise for both of us. megan: we don't normally think of foundational work returning a value investment. it's really important to make in terms of the number that you bring up. mrs. gates: is important to say first of all about warren, the most important thing we learned in our life lessons, even separate from money or the return on investment is these life lessons that how you live your life is really important. more and has a set of that -- warren has a set of values that he is true. he loves to laugh and make everybody feel good. we have been lucky,

tohas written a letter berkshire hathaway, talking to shareholders about the business.e said to us years ago that it might be nice for us to write a letter. and giving that it is the 10 year anniversary of this gift, we thought, let's use that as a marker in time to spend some time, bill and i, reflecting on what have we accomplished. if we were trying to tell him what his return on investment, what has the foundation really done? it ended up being a really good exercise for both of us. megan: we don't normally think of foundational work returning a value on investment. it is an unusual way to look at it. it's really important to make in terms of the number that you bring up. mrs. gates: is important to say first of all about warren, the most important thing we learned life lessons. separate from money or the return on investments. life lessons about how to live your life. warren buffett has a set of values that he is true to and lives too. he loves to laugh and make everybody feel good. as long as we have known him, we have been lucky because we learn by his example. t