Top Stock & Wall Street Predictions for 2013

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Every December, trendsetters, astrologers, and clairvoyants test their credibility with a slew of prognostications – only some of which ever come true. Here at CNBC, we also like to show off our talent for predictions. Since we've got our finger on the pulse of the news and the global markets, our financial contributors are usually pretty smart about what the next year will bring. We asked the CNBC Fab Five -- Maria Bartiromo, Jim Cramer, Larry Kudlow, Joe Kernen and Tyler Mathisen -- to ponder a few weighty financial questions and give us their wisdom. Below is our annual look-ahead to what we call The Big Picture. Let us know if you agree – or if you don't – with their predictions for 2013. 1. What is in store for interest rates in 2013? CRAMER: I think rates can go much higher. Perhaps as much as 3.75 percent for the 30-year treasury. KERNEN: Like watching grass dry, or paint grow. Courtesy of Bernanke and Co. MATHISEN: Basically flat but slightly higher for treasuries and mortgages. BARTIROMO: Interest rates will continue to stay at rock-bottom levels. The Fed has already told us rates will remain at very low levels until 2015. I would expect QE4 to be announced sometime in 2013, which will reinforce this notion. KUDLOW: Don't look for much change in next year's interest rates barring a fiscal cliff recession, which I do not expect. The Fed will be ultra-easy, short rates stay near zero, QE in perpetuity. Long rates could drift higher from modest inflation pick-up from a soft dollar. 2. Where will the unemployment rate be by this time next year? CRAMER: I think we could see employment at 7 percent. KERNEN: Still in the 7s… MATHISEN: Unemployment will go down, but it won't be lower than 7.5 percent. BARTIROMO: The unemployment rate will likely stay around 8 percent, if not get worse, particularly if we go over the fiscal cliff. The upcoming expiration of the Bush tax cuts and the cuts in spending will likely push the economy into recession next year if not addressed, which will send unemployment higher. KUDLOW: With tax increases likely, including the Obamacare tax and regulatory and mandate increases, don't expect growth or unemployment to change much. Entrepreneurs are ready to rock, but they need a dose of free market policies to unleash confidence. I'm not optimistic about that. 3. Which companies do you think will become irrelevant in 2013? CRAMER: Advanced Micro Devices, Nokia, Sony KERNEN: The New York Times and other print-based entities. MATHISEN: Best Buy BARTIROMO: There will always be relevant and irrelevant names. What investors need to focus on are fundamentals. What we have learned again and again from the dot.com boom and bust and the housing boom and bust and so many other bubbles is, if it looks too good to be true, it probably is. So look for those companies that may have a mismatch in terms of revenue and earnings growth relative to their market valuation for those that could end up busting. 4. Who will win the World Series in 2013? CRAMER: OK, I think pitching is everything, which means San Francisco is going to win the World Series. It bothers me because I'm a Philadelphian, and at one point the Phillies had the best rotation -- but our rotation got old. It's almost as if the Giants' rotation got young, so they're going to win it. KERNEN: Every year I predict the same winner, and that would be the Big Red Machine. The Big Red Machine is coming back; we're going to call it that again -- Cincinnati Reds. MATHISEN: I think the two teams in the World Series next year will be the Cincinnati Reds and the Los Angeles Angels of Anaheim. The Angels have got a great team and the best manager in baseball, Mike Sosa. I think they are ready, and I think they'll win it in 2013. BARTIROMO: New York Yankees KUDLOW: It's gotta be the New York Yankees, but then again I say that every year. I am a manic Yankee fan, and they are going to have to change two-thirds of their lineup and their pitching staff. But yeah, go Yankees go. Good Riddance, $4 Gas Gasoline prices will continue to vary widely depending on where you live. But an improving supply picture will help alleviate any price increases in the national average next year. In 2013, the return and restart of major refinery units from the East to West coasts, and particularly along the Gulf of Mexico, will enable the production of more gasoline and keep pump prices from topping the $4 mark. Gates Back at Microsoft With Windows 8 a disaster, and the Surface tablet not close to meeting original internal projections, Steve Ballmer'sdays at Microsoft in 2013 are ... over. The bigger surprise: Chairman Bill Gates returns as interim CEO in a last-ditch effort to do the impossible: re-engineer Microsoft to its former glory. Perhaps the only bright side: To keep investors engaged, Microsoft more than doubles its regular dividend. Hewlett-Packard Splits Hewlett-Packard: All the king's horse and all the king's men (and CEO Meg Whitman) realize Hewlett-Packard cannot be put back together again. Before the end of 2013, the company is restructured, with the spinoff of its PC and printer business as HP makes a last-ditch effort to be like IBM. Buffett & His Elephant He wrote in his 2011 letter to Berkshire shareholders that his "elephant gun has been reloaded, and my trigger finger is itchy" for a multibillion dollar acquisition. It hasn't happened so far. Buffett revealed that two possible big buys "that were plus and minus" $20 billion didn't get done this year because he couldn't get the price he wanted. Berkshire won't borrow money to do a deal, unlike competing buyers who use cheap money to "bid pretty aggressively." Still, in an October CNBC interview, Buffett told us he's "salivating" for another big acquisition and I think he'll finally bag one with a big chunk of the $40 billion in cash now burning a hole in Berkshire's pocket. Obamacare Tax Reprieve UnderArmour Will Make Serious Moves at Nike Nikestill owns the shoe business, but if UnderArmour can get things going with its sneaker business, it will make a huge move to the upside. Its apparel has more cache with young Americans, and the growth trajectory has UA on a collision course with the sports icon from Oregon. My prediction is that UA profits and stock price will outperform Nike for the year. Medical device makers like Medtronic, Stryker and Boston Scientific face a 2.3 percent excise tax on revenues starting in 2013 under Obamacare. The expected drag on profits has been a headwind for the sector. It's unlikely the industry will succeed in getting the tax overturned in the current budget negotiation environment. But if device makers succeed in getting a partial rollback, the sector could see a lift. Over the next couple years, watch for consolidation among device makers as costs rise due to the new tax, but continued competition could prevent firms from raising prices. Major Bankruptcy in India India could experience a major corporate bankruptcy in 2013 that could hurt investor confidence. Many companies have taken out foreign currency loans and are feeling the heat as the rupee weakens. At the same time, growth is slowing, some industries are locked in brutal competition (look at aviation and telecom) and input prices are rising. A downgrade for India's sovereign rating looks likely, and that could have a knock-on effect, raising funding costs for corporates further and pushing the weak ones finally over the edge.

Warren Buffet ( Berkshire Hathaway buys $5 Billion in ( BAC ) Bank of America

press release

Aug. 25, 2011, 9:10 a.m. EDT

Berkshire Hathaway to Invest $5 Billion in Bank of America

CHARLOTTE, N.C., Aug 25, 2011 (BUSINESS WIRE) -- Bank of America Corporation announced today that it reached an agreement to sell 50,000 shares of Cumulative Perpetual Preferred Stock with a liquidation value of $100,000 per share to Berkshire Hathaway, Inc. in a private offering. The preferred stock has a dividend of 6 percent per annum, payable in equal quarterly installments, and is redeemable by the company at any time at a 5 percent premium.
In conjunction with this agreement, Berkshire Hathaway will also receive warrants to purchase 700,000,000 shares of Bank of America common stock at an exercise price of $7.142857 per share. The warrants may be exercised in whole or in part at any time, and from time to time, during the 10-year period following the closing date of the transaction. The aggregate purchase price to be received by Bank of America for the preferred stock and warrants is $5 billion in cash.
"We are building the best franchise in financial services and we have laid out a clear plan to deliver long-term shareholder value," said Bank of America Chief Executive Officer Brian Moynihan. "I remain confident that we have the capital and liquidity we need to run our business. At the same time, I also recognize that a large investment by Warren Buffett is a strong endorsement in our vision and our strategy."
"Bank of America is a strong, well-led company, and I called Brian to tell him I wanted to invest in it," said Berkshire Hathaway Chairman and Chief Executive Officer Warren Buffett. "I am impressed with the profit-generating abilities of this franchise, and that they are acting aggressively to put their challenges behind them. Bank of America is focused on their customers and on serving them well. That's what customers want, and that's the company's strategy."
Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 58 million consumer and small business relationships with approximately 5,700 retail banking offices and approximately 17,800 ATMs and award-winning online banking with 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock /quotes/zigman/190927/quotes/nls/bac BAC +16.80% is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
Forward-Looking Statements
Certain statements in this press release represent the current expectations, plans or forecasts of Bank of America and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. These statements often use words like "expects," "anticipates," "believes," "estimates," "targets," "intends," "plans," "predict," "goal" and other similar expressions or future or conditional verbs such as "will," "may," "might," "should," "would" and "could." The forward-looking statements made in this press release include, without limitation, statements concerning: the closing of the agreement with Berkshire Hathaway Inc. to sell preferred stock and warrants (the "sale agreement") and the receipt of the aggregate purchase price in the transaction. Forward-looking statements speak only as of the date they are made, and Bank of America undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made.
These statements are not guarantees of future results or performance and involve certain risks, uncertainties and assumptions that are difficult to predict and are often beyond Bank of America's control. Actual outcomes and results may differ materially from those expressed in, or implied by, any of these forward-looking statements. You should not place undue reliance on any forward-looking statement and should consider all of the following uncertainties and risks, as well as those more fully discussed under Item 1A. "Risk Factors" of Bank of America's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2011, Item 1A. "Risk Factors" of Bank of America's Annual Report on Form 10-K for the year ended December 31, 2010 and in any of Bank of America's other subsequent Securities and Exchange Commission filings: the satisfaction of the closing conditions for the sale agreement, including obtaining any necessary regulatory or other approvals.
www.bankofamerica.com
SOURCE: Bank of America

        
        Investors May Contact: 
        Kevin Stitt, Bank of America, 1.980.386.5667 
        Lee McEntire, Bank of America, 1.980.388.6780 
        Reporters May Contact: 
        Jerry Dubrowski, Bank of America, 1.980.388.2840 
        jerome.f.dubrowski@bankofamerica.com
        

Copyright Business Wire 2011

Warren Buffett says he will answer questions even if Berkshire's lawyer gets up and wrestles him to the ground.

Warren Buffett says he's ready to face an arena full of Berkshire Hathaway shareholders, and he won't dodge questions about the former executive who made a questionable investment in Lubrizol stock before recommending that Berkshire buy the chemical company.



Berkshire officials estimate that as many as 40,000 people will attend Saturday's shareholder meeting in Omaha.



Buffett told the Fox Business Network before the meeting that he and Berkshire's Vice Chairman Charlie Munger will answer any question they're asked, including questions about former MidAmerican Energy Chairman David Sokol. Buffett says he will answer questions even if Berkshire's lawyer gets up and wrestles him to the ground.



Berkshire said earlier this week that Sokol violated the company's ethics policies with his Lubrizol trades. Sokol, who resigned earlier in April, denies any wrongdoing

What is The Future of Berkshire Hathaway?

Berkshire Hathaway (NYSE: BRK.B) executive David Sokol quit the conglomerate. There were questions about his trading of shares in Lubrizol before Warren Buffett, Berkshire’s chief, decided to buy the firm. Conveniently, both men said that Sokol had tried to resign before and miraculously Buffett had decided to move toward retirement again recently.



A great deal has been made of the fact that Sokol might take over as head of Berkshire one day. He was one of a list of “Buffett replacements” that the press identifies from time to time.



Investment manager Todd Combs joined Berkshire last year and become a new candidate to run the company, at least in the eyes of the press. China investor Li Lu has been tagged as a candidate. And, Berkshire has a number of large operating companies with stellar CEOs. The head of Burlington Northern, Matthew K. Rose, a railroad Berkshire bought recently, is also described as being worthy of consideration.



Berkshire’s board also has at least one member who could become CEO–Steve Burke, the COO of Comcast and head of the NBCU unit the cable company controls.



Buffett has revealed very little about who might replace him or whether the new management might be a group–a sort of Office of the CEO.



The most important aspect of any debate over who might take Buffett’s job is that Berkshire is a very different company than it was three years ago. It owns more operating companies. Buffett’s prowess as an investor has become less important to the company’s fortunes, and no one could be expected to duplicate his investments returns which date back to the 1960s.



There are more people to replace Buffett than most observers of Berkshire will admit. And, the old man could live another 20 years.


by
D, McIntyre

Why did Berkshire Hathaway Buy Lubrizol for $9 Billion

Berkshire Hathaway announced on Monday that it would buy Lubrizol for $9 billion in cash – making it one of Warren Buffett’s largest deals ever.




Berkshire is paying $135 a share for the Indiana specialty chemical maker. The price represents a 28 percent premium to Lubrizol’s closing price on Friday.



“This transaction provides compelling value to our shareholders and is a clear endorsement of the growth and diversification success Lubrizol has achieved,” James Hambrick, chief executive officer, in a statement. “We are very excited to have the opportunity to become part of the Berkshire Hathaway family.”



The Oracle of Omaha, in his latest investment letter, indicated that he was on the hunt for major acquisitions. “We’re prepared,” he wrote. “Our elephant gun has been reloaded, and my trigger finger is itchy.”



And Lubrizol fits much of Mr. Buffett’s deal-making criteria. It’s a large company, with earnings of $732 million in 2010. Those earnings are relatively consistent, too. The product is to easy to understand: Lubrizol makes goods global transportation, industrial and consumer markets like fuel additives for gasoline and diesel. The management team has been in place for awhile, too – another core tenet of the billionaire investor’s strategy. Mr. Hambrick joined the company in the 1970s while still in school, and was named CEO in 2004.



“Lubrizol is exactly the sort of company with which we love to partner – the global leader in several market applications run by a talented CEO, James Hambrick,” Mr. Buffett said in a statement. “Our only instruction to James – just keep doing for us what you have done so successfully for your shareholders.”



That Mr. Buffett is using cash to buy Lubrizol may indicate he thinks Berkshire is undervalued. In a prior annual letter, he lamented the use of stock in the purchase of the Burlington Northern Santa Fe Railway, saying he enjoyed issuing shares as much as “prepping for a colonoscopy.”



“The reason for our distaste is simple. If we wouldn’t dream of selling Berkshire in its entirety at the current market price, why in the world should we ’sell’ a significant part of the company at that same inadequate price by issuing our stock in a merger?” Mr. Buffett wrote. “If an acquirer’s stock is overvalued, it’s a different story: using it as a currency works to the acquirer’s advantage.”



At a recent price of $128,000, shares of Berkshire are still way off their 2008 peak of $147,000.

The Essays of Warren Buffett: Lessons for Corporate America, Second Edition

Citigroup and Evercore Partners advised Lubrizol on the deal, while the company’s legal counsel was Jones Day.
Buffett's Bites: The Essential Investor's Guide to Warren Buffett's Shareholder Letters

Top March Stocks to Buy in 2011

Coca-Cola (KO, news) is gaining attention as an undervalued blue chip that's ideally positioned to help many investors get where they want to go as the bull market enters its third year.


Jim Cramer's Mad Money: Watch TV, Get Rich

As with other mega-cap stocks, Coca-Cola shares are cheaper than their average price over the last decade -- investors are paying 13 times per-share earnings over the past 12 months, a discount from Coca-Cola's 10-year average P/E ratio of 25.
Mad Money: Back to Basics


The Dow component is a reliable source of dividends -- it has raised its payout for 49 consecutive years. The most recent increase was in February, when directors approved a 6.8% increase to 47 cents a share.


Mad Money: Back to Basics II: Invest Like a Pro







Invest in Coca-Cola or PepsiCo?

.

Dividends are a big reason Warren Buffett is so bullish on Coca-Cola. His investment vehicle, Berkshire Hathaway (BRK.B, news), is Coca-Cola's largest shareholder, with 8.6% of the company's stock. Berkshire last purchased Coca-Cola shares in 1995.



•What's ahead for the stock market
Mad Money Bull Keychain
Investors sat up and took notice this year when Buffett, in his much-anticipated annual letter to Berkshire shareholders, said he expects Coca-Cola dividends to double within a decade. If Buffett's right, the Atlanta company's dividend yield could jump to above 5.5% in 10 years, from 2.8% today.





Coca-Cola chief on growth plans



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"By the end of that period, I wouldn't be surprised to see our share of Coke's annual earnings exceed 100% of what we paid for the investment," Buffett wrote in the Feb. 26 letter. "Time is the friend of the wonderful business."



Coca-Cola appears on a daily ranking created using StockScouter, an MSN Money tool that identifies stocks with strong growth prospects in the near term. All stocks with Scouter ratings of 8, 9 or 10 are considered for the list, which is then shortened to exclude stocks with a trading volume below 50,000 shares a day. The remaining stocks are ranked on the basis of market capitalization, sector membership and whether they are growth or value stocks.
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With operations in more than 200 countries, Coca-Cola is the world's biggest soft-drink company. It owns four of the top five soft-drink brands (Coca-Cola, Diet Coke, Fanta, and Sprite). Other brands include Minute Maid juices, Dasani water and Honest Tea.


Mad Money w/ Jim Cramer Back To Basics II: Invest Like A Pro
Global sales rose in the fourth quarter despite a soft economy, the company said, with emerging markets like Brazil and India providing the fastest growth. It's also making a big push into Africa, where Coke is the dominant brand and a middle class is just emerging.



Coca-Cola also took market share from rival PepsiCo (PEP, news) in North America in the fourth quarter. Wall Street has been more bullish on Coca-Cola than on Pepsi in recent quarters because of Coca-Cola's strong global brands and its absence of snack foods, which tend to have lower profit margins and are more susceptible to rising commodity prices.







.

Of 15 analysts covering the company, 11 rate Coca-Cola a "strong buy," three rate it a "moderate buy" and one has a "hold" rating.



The stock has a StockScouter rating of 9, meaning it is expected to significantly outperform the market over the next six months with very low risk by MSN.com/money

top 10


Company Sector Friday's close Forward P/E Scouter score

Chesapeake Energy (CHK, news) Oil and natural gas $32.81 10.9 10

Gap (GAP, news) Apparel $21.97 10.4 10

Coca-Cola (KO, news) Soft drinks $64.81 15.1 9

Exxon Mobil (XOM, news) Oil and natural gas $82.12 10.1 9

América Móvil (AMX, news) Telecommunications $55.10 13.1 9

Yamana Gold (AUY, news) Gold mining $12.73 12.3 9

ConocoPhillips (COP, news) Oil and natural gas $76.30 9.7 9

Chevron (CVX, news) Oil and natural gas $99.93 8.5 9

Lowe's (LOW, news) Home improvement $26.94 13.6 9

Macy's (M, news)









 

Stocks to Buy Now !

Marriott International Inc. -- The hotelier is splitting into two publicly traded companies. The company said as it reported on its earnings that it will spin off its timeshare development and management company later this year. The remaining business will concentrate on its lodging management and franchising business. Marriott said the move will help both companies focus on opportunities in their respective industries. It also helps the hotel chain shed the less-profitable timeshare business. Marriott will continue to receive franchise fees from the timeshare company's use of the Marriott and Ritz-Carlton brands. The Marriott family will hold a roughly 21 percent stake in each company. Stephen P. Weisz, president of Marriott's timeshare business since 1997, will become CEO of the new company. William J. Shaw, who recently announced his retirement as vice chairman of Marriott International and resigned from its board, will be chairman of the new timeshare company's board. The company reported a 63 percent increase in its fourth-quarter net income to $173 million, or 46 cents per share. That's up from $106 million, or 28 cents per share, a year earlier. Excluding one-time impairment charges and other special items, Marriott earned 39 cents per share, up from 32 cents per share. Marriot's total revenue rose to $3.6 billion from $3.4 billion. Analysts anticipated adjusted earnings of 36 cents per share and revenue of $3.58 billion, according to data from FactSet. Looking forward, Marriott said it expects to earn $1.35 to $1.45 in the current fiscal year. Analysts on average expect $1.41 per share. Marriott International will continue to be listed on the New York Stock Exchange, and the company expects the new timeshare business also to list there. The new timeshare company does not expect to pay a quarterly cash dividend or be investment-grade in the near term. The company is hosting a conference call today to discuss the news with investors. Shares of Marriott, based in Bethesda, Md., rose $1.40, more than 3 percent, to $43 in after-hours trading.




Berkshire Hathaway Inc. -- Warren Buffett's company has sold off several of the smaller investments in its $53 billion U.S. stock portfolio during the fourth quarter, including Bank of America, Comcast, Nike, and Lowe' s. The company revealed a number of changes in its holdings in documents filed with the Securities and Exchange Commission. Berkshire also eliminated holdings in Becton Dickinson, Fiserv, Nalco Holding Co. and Nestle. Officials at the Omaha-based company Buffett leads as chairman and CEO said no one was immediately respond to a request for comment, but they don't typically comment on the company's stock holdings beyond what it is legally required to disclose. Shares closed at $127,850.00, up $450.00.



MGM Resorts International -- The casino operator, in which billionaire Kirk Kerkorian is a major investor, said it narrowed its loss for the fourth quarter, though the company saw gambling revenue and room revenue decline. MGM said it had a loss of $139 million, or 29 cents a share, during the quarter, compared with $433.9 million, or 98 cents a share, a year earlier. The 2009 quarter's results were weighed down by a hefty impairment charge against the company's undeveloped land in Atlantic City. Excluding one-time items, MGM Resorts said it lost 20 cents per share during the fourth quarter of 2010. The Las Vegas company said revenue was $1.47 billion, up from $1.45 billion. Analysts polled by FactSet expected MGM Resorts to lose 21 cents per share on $1.49 billion in revenue. The company's loss for the full year was $1.44 billion, or $3.19 per share, compared with a loss of $1.29 billion, or $3.41 per share, in 2009. Revenue was up slightly to $6.02 billion, though casino, room, food and beverage and entertainment revenues were all down. Shares were $15.07, down 47 cents, or 3 percent.



Credit Suisse Group -- The Swiss bank says it is raising some $6.1 billion from Arabian investors to satisfy new capitalization rules. Credit Suisse says it is issuing contingent capital notes worth $3.5 billion to Qatar Holding LLC and notes worth 2.5 billion Swiss francs ($2.57 billion) to Saudi Arabia's The Olayan Group. The Zurich-based bank says the move would satisfy emergency capital requirements proposed by Swiss regulators. It said Monday the notes can be redeemed after Oct. 2013. Qatar's sovereign wealth fund already holds more than 6 percent of Credit Suisse's shares.



Dynegy Inc. -- Billionaire investor Carl Icahn is extending an offer for the power producer for a final time. Icahn Partners LP said its offer for the Houston company will expire Friday afternoon. The $665 million bid, which values Dynegy at $5.50 per share, was scheduled to expire Monday. It said it will not extend the offer further or increase its bid. Icahn Partners agreed to buy Dynegy in December, but shareholders have not supported its offer. The stock closed Friday at $5.67 a share -- 17 cents above the offered price. Icahn Partners is Dynegy's largest shareholder with about 15 percent of the company. For the deal to go through, 50 percent of Dynegy's shares must be voted in favor of the Icahn bid. But it said Monday that only about 1.4 percent of the shares not owned by Icahn had been tendered in support of the offer as of this past Friday. Last week. Icahn Partners had said 4.4 percent of the shares had been tendered and not withdrawn. Shares were $5.81, up 14 cents, or 2.5 percent.



Leighton Holdings Ltd. -- Profits at the construction and mining giant fell 25 percent to 218 million Australian dollars ($218 million) in the second half of 2010 due to floods, a strong currency and wet weather in Indonesia that also will undermine its full year result, the company said. The result was down from AU$289 million for the same six months in 2009, despite revenue growing by 5 percent to AU$7.37 billion, the Sydney-based company said in a statement. The world's largest contract miner forecast its profit for the full fiscal year ending June 30, 2011, would fall more than 20 percent below the previous year's record AU$612 million to "around AU$480 million." Leighton shares fell almost 2 percent in early trading after the announcement, but rebounded to end Monday almost 1 percent higher at AU$30.97.



Foster's Group Ltd. -- The Australian brewer and winemaker reported a 12 percent drop in half-year net profit, as torrential rain and flooding across parts of Australia cut into domestic beer sales. The Melbourne-based company said in a statement that profit for the six months ended Dec. 31 was $312.1 million Australian dollars ($313 million), down from AU$355.7 million in the same period a year ago. Foster's said much of the drop was a result of a 7 percent decline in Australian beer market volume. The company blamed the weak sales on the spate of extreme weather.

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Berkshire Hathaway Inc. Common (NYSE: BRK-A)


After Hours: 125,560.00 0.00 (0.00%) 4:09PM EDT

Last Trade: 125,560.00

Trade Time: Nov 5

Change: 1,080.00 (0.87%)

Prev Close: 124,480.00

Open: 123,890.00

Bid: 118,503.00 x 100

Ask: 125,999.00 x 100

1y Target Est: 130,667.00

Day's Range: 123,800.00 - 125,649.00

52wk Range: 97,205.00 - 128,730.00

Volume: 1,171

Avg Vol (3m): 65,211

Market Cap: 126,515.64B

P/E (ttm): 16.76

EPS (ttm): 7,493.13

Div & Yield: N/A (N/A)

..People viewing BRK-A also viewed:

top stocks Specials From warren Buffett Menu

There's no quibbling with Warren Buffett's extraordinary overall investment record, which has resulted in a $205 billion stock-market value for (NYSE: BRKA - News) Berkshire Hathaway. But, in the past few years, Buffett has invested in some companies whose shares have been disappointing. Among them: ConocoPhillips, U.S. Bancorp, Kraft Foods, Sanofi-Aventis, Johnson & Johnson and even Wells Fargo.

The Warren Buffett Way, Second Edition





More from Barron's:



• Rallying Cries



• Taking Stock in a Crucial Period



• Existing Home Sales Beat; Inventory, Foreclosure Fears Linger







--------------------------------------------------------------------------------







All of these are strong, well-managed companies. Assuming Buffett hasn't erred, investors have the opportunity now to buy some of them for less than what Berkshire paid.



U.S. Bancorp, for instance, trades near 23, appreciably below Berkshire's average cost of $31. ConocoPhillips is at 61; Berkshire paid 73. French drug maker Sanofi's U.S.-listed shares, at 34, are below Berkshire's cost of $40 (Berkshire mainly owns the local shares). Kraft is at 32; Buffett paid 33. We based the cost figures on data in Buffett's annual shareholder letter.



Buffett wouldn't discuss his equity investments with Barron's. But in a CNBC interview in March 2009, he said: "I make plenty of mistakes. That's part of the game. You just got to make sure that the right things overcome the wrong ones." That's certainly true for Berkshire, whose Coca-Cola and Procter & Gamble holdings, which date back to the 1980s, are about 10 times above the company's cost. The P&G stake came from an investment in Gillette, bought by P&G in 2005.



With Conoco, Buffett told CNBC, he erred because he bought it when oil was above $100 a barrel; the shares tanked when crude collapsed. Berkshire, which lost more than $1 billion on that investment, has cut its Conoco stake by more than half since late 2008.



Wells Fargo is a Berkshire holding dating back 20 years. While Buffett has a gain on the banking giant, it is mainly from early purchases of the stock at depressed prices. In recent years, Berkshire has added to its holding at an average price around 32; Wells Fargo now is around 26. J&J, at 64, is close to Berkshire's cost of $60.



Berkshire's losers trade at reasonable valuations. Sanofi is valued at just seven times projected 2010 profits; Wells Fargo, for less than 10 times next year's estimated profits and for a historically low 1.6 times tangible book value. Long viewed as one of the best-run financial companies, U.S. Bancorp fetches 11 times projected 2011 profits.



Not surprisingly, Buffett had some nice things to say about his stocks in the 2009 annual letter that March. He wrote that Berkshire's decision to pare its stakes in ConocoPhillips, Moody's, P&G and J&J last year was driven in part by a need to raise cash for what turned out to be lucrative investments in Swiss Re and Dow Chemical convertible preferred. Buffett wrote those four stocks "likely will trade higher in the future."



Based on what Buffett has done in the market, he's gotten more bullish on Johnson & Johnson, and less excited about Conoco, Kraft and P&G this year; he has bought more J&J and pared his holdings of the others.





Buffett likes simplicity. He views Wells Fargo as a high-return bank that sticks to basics. In the third quarter, it paid an average interest rate of less than 0.5% on its deposits. In early 2009, when the stock was around 10, Buffett told a CNBC interviewer that, when the financial crisis ended, Wells Fargo could generate $40 billion of pretax profits before a provision of $10 billion to $12 billion for loan losses. That equates to roughly $4 a share in after-tax profits.



That scenario seems optimistic now, thanks to a weak economy, share issuance and regulatory changes that are cutting fee income industrywide. Wells Fargo also is grappling with the impact of possibly improper disclosures on foreclosures. Analysts see it generating $2.80 a share in profits next year and $3.50 in 2012. Those earnings could easily lift the stock above 30.



While still enormous at $55 billion on June 30, Berkshire's equity portfolio isn't the dominant driver of its stock price the way it was 15 or 20 years ago. Mattering more are Berkshire's wholly owned businesses, including the Burlington Northern railroad, auto insurer Geico, several utilities and large property and casualty reinsurance operations.



Buffett doesn't disclose the performance of Berkshire's equity portfolio. We estimate that it's about flat this year, versus a 5% gain for the S&P 500 (through Wednesday), after rising about 17% in 2009, a year in which the S&P climbed 23%.



Buffett has done very well with some $21 billion of non-traded securities purchased during the financial crisis, including $5 billion of Goldman Sachs preferred stock and $3 billion of General Electric preferred, both with 10% dividend yields and warrants that, in the case of Goldman, now are worth about $2 billion. In April, Barron's speculated Goldman probably would seek to redeem that high-cost preferred. The Wall Street Journal reported Thursday that Goldman is considering such a move.



Many pros believe that, after a disappointing decade, blue-chip stocks will be one of the best investments over the next 10 years. Investing in those with the Buffett imprimatur could be a great way to share in that wealth.ÂÂ
Barron.com and yahoo.com






___

Economy Showing Signs of 'Real Strength' Warren Buffett ( BRK.B , BRK.A )

Warren Buffett tells CNBC the U.S. economy has started to show signs of "real strength" in March and April, and it's not just companies replenishing their inventories.

Buffett says there's been an increase in manufacturing activity and some improvement in consumer demand as people regain confidence.

"We're glad we have inventory because it's been flying out the door."

He says Berkshire Hathaway is a "net hirer" right now, and that's happening because there is renewed demand for the products its subsidiaries make.But he notes that Berkshire's residential housing businesses are lagging, due to a hangover of demand in that market. He thinks that housing invesntory will be gone within a year.

Buffett again warns that the U.S. government will need to reduce its enormous deficits and says the country faces potentially significant inflation in the years to come.

As for the debt situation in Europe, Buffett says he doesn't know "how that will turn out" but it is an "interesting movie to watch."

Still, he says, "I don't like betting on the future purchasing power of any currency."Current Berkshire stock prices:

Class B: [BRK.B 77.0 --- UNCH (0) ]

Class A: [BRK.A 115325.0 ---
Warren Buffett tells CNBC this morning that he does not see a "problem" with the Goldman Sachs Abacus deal at the center of SEC fraud charges against the firm.

He says there's nothing "unique" about the 2007 Abacus deal and points out that a lot of banks and others, including American homeowners, lost money betting on the housing market at the time.

"When there's a mass delusion, you can say everyone is to blame... There's no villain."

 Berkshire Hathaway Inc 2009 Annual Report

Buffett also endorses CEO Lloyd Blankfein, saying he's done a "great job" at the company and should continue as CEO.  Buffett says he has not had any conversations with Blankfein about him possibly stepping down as Goldman chief.  Buffett also says he hasn't spoken with Blankfein about settling with the SEC and
doesn't think there's a legal reason to do so.  He leaves it up to Goldman's board of directors to decide if there is a 'business' justification for settling the SEC's charges, a possible he calls "conceivable."  If not, the situation "will play out over time."Buffett says he's "talking his belief," not simply defending Goldman because Berkshire invested $5 billion in the firm in September of 2008.  Goldman is paying Berkshire a dividend of 10 percent a year on that $5 billion loan.  Berkshire also has the option to buy another $5 billion of Goldman stock at $115 per share.  Current price: [GS  145.20  ---  UNCH  (0)   ]
CNBC.com

Best Stock To Buy Now ( Berkshire Hathaway Inc.) ( BRK.B )

Berkshire Hathaway Inc. ( BRK.B ) 69.75 a share
Berkshire Hathaway Inc. (Berkshire) is a holding company owning subsidiaries engaged in a number of business activities. The most important of these are insurance businesses conducted on both a primary basis and a reinsurance basis. Berkshire also owns and operates a number of other businesses engaged in a variety of activities. Berkshire’s insurance and reinsurance business activities are conducted through over 60 domestic and foreign-based insurance entities. In March 2008, it acquired 60% of Marmon Holdings, Inc. (Marmon). In November 2008, White Mountains Insurance Group, Ltd. (White Mountains) completed its exchange with Berkshire of runoff businesses. Berkshire exchanged about 95% of its interest in White Mountains for 100% of a White Mountains subsidiary, whose holdings consist of Commercial Casualty Insurance Co. and International American Group Inc. B)—Berkshire Hathaway Inc. announced that at a Special Meeting of


Shareholders held earlier today, its shareholders approved amendments to Berkshire’s certificate

of incorporation that provide for a 50-for-1 split of its Class B Common Stock. As a result each

existing outstanding share of Class B Common Stock will be exchanged for fifty shares of New

Class B Common Stock. There will not be a record date or a payable date. The New Class B

Common Stock will begin trading on the New York Stock Exchange as of the opening of the

market tomorrow and the existing Class B Common Stock will cease trading as of the close of

the market today 1/21/10.

Berkshire’s Class A Common Stock is not being split. However as a result of the amendments to

our certificate of incorporation, beginning tomorrow each share of Class A Common Stock will

be convertible into 1,500 shares of New Class B Common Stock.

Berkshire Hathaway and its subsidiaries engage in diverse business activities including property

and casualty insurance and reinsurance, utilities and energy, finance, manufacturing, retailing and

services. Common stock of the company is listed on the New York Stock Exchange, trading

symbols BRK.A and BRK.B.A 50-1 stock split made shares more accessible for most investors and also led to speculation it could soon be included in the S&P 500. This could attract some new investors by eliminating the sticker shock long associated with Berkshire shares.It could also, some observers have suggested, pave the way for Berkshire to join the S&P 500 since it would increase the amount of shares outstanding. The people in charge of maintaining the S&P 500 have typically been wary of adding stocks with low levels of liquidity. This is a long term play ! Buy,Buy,Buy !

I asked Jim Cramer About Clean Energy ( CLNE ) live at his 1000 show ( Check it out )

( Quote From Jim Cramer )“I take great pride in having tried to make Mad Money the most interactive show on TV,” Cramer told his live studio audience Wednesday night. “I actually talk to real people.”
In this spirit, Cramer took questions town-hall style as part of his 1,000th episode special. Watch video for his take on the waning influence of Berkshire Hathaway's [BRK.B 3051.00 136.00 (+4.67%) ] Warren Buffett, retirement accounts, President Obama’s affect on Clean Energy Fuels [CLNE 7.22 0.16 (+2.27%) ] and other natural gas stocks, biotechs and more.

The audience tests Cramer’s 30 years of Wall Street experience with questions about Berkshire Hathaway’s legendary leader, 401(k)s versus Roth IRAs, alternative energy and more....



I asked Jim Cramer about Clean Energy ( CLNE )@ the 3 Min. Mark ! The 1000 Mad money show was great !!

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