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BRK.A

Berkshire Hathaway

$304,921.00

1581 (0.52%)

, BRK.B

Berkshire Hathaway

$202.53

0.795 (0.39%)

16:29
08/04/19
08/04
16:29
08/04/19
16:29

Berkshire says Kraft Heinz has not made financial statements available

In its earnings release, Berkshire Hathaway (BRK.A, BRK.B) said that, "As of August 3, 2019, Kraft Heinz's [KHC] financial statements for the first and second quarters of 2019 were not yet available to Berkshire. Accordingly, Berkshire's Consolidated Financial Statements for the second quarter and first six months of 2019 exclude its share of the earnings and other comprehensive income of Kraft Heinz for those periods. Berkshire intends to record its share of Kraft Heinz's earnings and other comprehensive income for the first six months of 2019 during the period that such information becomes available. During the second quarter and first six months of 2018, we recorded equity method earnings from our investment in Kraft Heinz of $187M and $421M, respectively. At June 30, 2019, insurance float - the net liabilities we assume under insurance contracts - was approximately $125B at June 30, 2019, an increase of $2B since year-end 2018."

BRK.A

Berkshire Hathaway

$304,921.00

1581 (0.52%)

BRK.B

Berkshire Hathaway

$202.53

0.795 (0.39%)

KHC

Kraft Heinz

$32.22

-0.34 (-1.04%)

  • 08

    Aug

BRK.A Berkshire Hathaway
$304,921.00

1581 (0.52%)

11/15/18
11/15/18
NO CHANGE

Morgan Stanley says 13F a 'clear signal' of value Buffett sees in financials
Following the release last night of 13F filings detailing the holdings of large investors, including Berkshire Hathaway (BRK.A), Morgan Stanley analyst Kai Pan noted that the filing from Warren Buffett's Berkshire revealed increased stakes in Bank of America (BAC), U.S. Bancorp (USB) and Goldman Sachs (GS) along with new stakes in JPMorgan (JPM), PNC Financial (PNC) and Travelers (TRV). The analyst sees these investments, along with the fact that Berkshire's s financial holdings stood at 46% of its overall $203B equity portfolio as of quarter end, as a "clear signal" of the value that Buffett sees in financials, Pan tells investors. He adds that he views Buffett's new stake in Oracle (ORCL) as another "notable" new purchase.
04/09/19
KEYB
04/09/19
NO CHANGE
Target $235
KEYB
Overweight
Workday wins deal from Berkshire Hathaway's Geico, says KeyBanc
KeyBanc analyst Brent Bracelin reported that he found a recent job posting indicating that Geico, a subsidiary of Berkshire Hathaway (BRK.A), plans to implement Workday (WDAY) Financials as its new ERP system. He view the Geico win, which also includes the use of Workday's Adaptive Insights planning software, as further validation of the increasing cloud financial momentum at the company. The analyst, who sees share gains across both HCM and ERP as the primary drivers of upside for Workday, has an Overweight rating and $235 price target on the shares.
04/24/19
BOFA
04/24/19
NO CHANGE
BOFA
PG&E deal talks report could drive renewed interest, says BofA/Merrill
BofA Merrill Lynch analyst Julien Dumoulin-Smith noted that SparkSpread reported that Berkshire Hathaway Energy (BRK.A) was in talks to acquire bankrupt PG&E (PCG). However, CNBC subsequently reported that Berkshire had no interest, citing direct conversations with Warren Buffett, and a spokesperson also noted the company is not in talks with PG&E, noted the analyst. Still, he thinks headlines regarding the Berkshire interest could help drive renewed interest in PG&E from other large-cap entities, adding that "for all of the same reasons why we see credibility to a potential Berkshire bid, much of the same applies to any other large buyer." Dumoulin-Smith keeps No Rating on PG&E shares given ongoing Chapter 11 proceedings.
06/19/19
SBSH
06/19/19
NO CHANGE
SBSH
Axalta Coating under pressure to deliver on M&A, says Citi
Citi analyst P.J. Juvekar said Axalta is under increased pressure "to deliver on M&A now or risk its credibility" after the company announced it is exploring strategic options again after going through the same process in 2017. Previously the company had M&A negotiations with AkzoNobel (AKZOY) and briefly with Nippon Paints, though neither reached a deal, and this time it could approach new players like Berkshire Hathaway (BRK.A), which already owns roughly 10% of the company, or Sherwin-Williams (SHW), contends Juvekar. Axalta does not have architectural paint, which trades at high multiples compared to industrial paint, and he thinks a multiple range of 12x-13x, equating to a stock price in the mid-to-high $30 range, is possible in a deal, though "there is no guarantee that a deal would happen," Juvekar stated in a note to investor before the open.
BRK.B Berkshire Hathaway
$202.53

0.795 (0.39%)

10/17/18
JPMS
10/17/18
NO CHANGE
Target $375000
JPMS
Overweight
Berkshire shares are undervalued on look-through earnings, says JPMorgan
JPMorgan analyst Sarah DeWitt views Berkshire Hathaway as one of the best value plays in her coverage group. Although the stock appears more expensive than the S&P 500 at 20 times 2019 estimated earnings, reported earnings ignore the company's "massive" equity portfolio of nearly $200B, DeWitt tells investors in a research note. The analyst thinks a better measure is look-through earnings, which she notes is the one Warren Buffett endorses and includes Berkshire's share of retained earnings of major investees that are not reflected in GAAP earnings. On this basis, Berkshire trades at 13.6 times estimated 2019 look-through earnings, near the all-time historical low for price-to-look-through earnings ratio and a significant discount to the S&P 500 at 16 times, the analyst says. She thinks Berkshire should trade at least in line with the historical median on look-through earnings of 17 times, which would imply 25% upside. The analyst keeps Overweight rating on both of Berkshire's share classes. DeWitt has a $375,000 price target for the class A shares (BRK.A) and $250 target for the class B shares (BRK.B).
KHC Kraft Heinz
$32.22

-0.34 (-1.04%)

05/31/19
PIPR
05/31/19
UPGRADE
Target $31
PIPR
Neutral
Piper upgrades Kraft Heinz to Neutral, says risks priced in
Piper Jaffray analyst Michael Lavery upgraded Kraft Heinz to Neutral from Underweight with an unchanged price target of $31. The analyst, who remains curious on the outlook for Kraft Heinz and its ability to build brand equity in a way that can drive sustainable organic growth, believes the risks appear to be reflected in the stock's current valuation. A new CEO is the right move, but he needs incremental brand spending to rejuvenate the company's "dusty brands," says the analyst.
05/31/19
05/31/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Canada Goose (GOOS) upgraded to Buy from Neutral at Goldman Sach with analyst Alexandra Walvis saying she believes the company's fundamentals are "still strong" and the weakness in Q4 was driven in part by strategic changes. 2. Kraft Heinz (KHC) upgraded to Neutral from Underweight at Piper Jaffray with analyst Michael Lavery saying he believes the risks appear to be reflected in the stock's current valuation. 3. Molina Healthcare (MOH) upgraded to Outperform from Market Perform at Wells Fargo with analyst Peter Costa saying management highlighted the long-term sustainability of margins and growth at analyst day, which he thinks should be attainable if Molina can avoid losing ground in upcoming contract rebids. 4. Uber (UBER) upgraded to Overweight from Neutral at Atlantic Equities with analyst James Cordwell saying the ridehailing competitive environment is becoming "increasingly benign" while Uber shares have become more attractively valued. 5. Century Communities (CCS) upgraded to Outperform from Neutral at Wedbush with analyst Jay McCanless saying that based on the firm's recent management meetings, he estimates 85% of the company's collective business is targeted to affordable price points suggesting the company should be well positioned to meet that demand. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/11/19
EVER
06/11/19
INITIATION
Target $32
EVER
In Line
Kraft Heinz initiated with an In Line at Evercore ISI
Evercore ISI analyst David Palmer started Kraft Heinz with an In Line rating and $32 price target.
06/24/19
GUGG
06/24/19
NO CHANGE
Target $29
GUGG
Neutral
Incoming CEO plans, actions crucial for fate of Kraft Heinz, says Guggenheim
Guggenheim analyst Laurent Grandet lowered his price target for Kraft Heinz to $29 from $32 due primarily to lower earnings. The analyst believes the plans incoming CEO Miguel Patricio lays out and the actions he takes in the first 90 days will be crucial to determining the fate of Kraft Heinz in the longer term, including rebasing and over-investing, selling assets, and further reducing the dividend. Grandet reiterates a Neutral rating on the shares given his expectation of more "bad news" and the uncertainly around what Patricio will actually do when he takes the helm next week.

TODAY'S FREE FLY STORIES

EFC

Ellington Financial

$18.79

0.01 (0.05%)

20:29
11/18/19
11/18
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11/18/19
20:29
Syndicate
Ellington Financial 4.2M share Spot Secondary priced at $18.20 »

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HD

Home Depot

$238.98

1.64 (0.69%)

, MDT

Medtronic

$111.25

-0.86 (-0.77%)

20:25
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20:25
Earnings
Notable companies reporting before tomorrow's open »

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HD

Home Depot

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1.64 (0.69%)

MDT

Medtronic

$111.25

-0.86 (-0.77%)

TJX

TJX

$59.54

-0.25 (-0.42%)

TDG

TransDigm

$568.32

9.81 (1.76%)

ARMK

Aramark

$43.90

0.25 (0.57%)

KSS

Kohl's

$58.39

-0.71 (-1.20%)

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ACY

AeroCentury

$3.31

-0.66 (-16.62%)

20:01
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MYOV

Myovant Sciences

$6.02

-0.14 (-2.27%)

19:29
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Myovant Sciences up over 11% after announcing Phase 3 Study conference call »

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INVH

Invitation Homes

$29.95

-0.04 (-0.13%)

18:47
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18:47
Hot Stocks
Invitation Homes CEO sells 70K shares of common stock »

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BA

Boeing

$369.50

-2.05 (-0.55%)

, LUV

Southwest

$57.77

-0.03 (-0.05%)

18:44
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18:44
Periodicals
Boeing to provide Southwest board with 737 MAX update this week, Reuters says »

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BA

Boeing

$369.50

-2.05 (-0.55%)

LUV

Southwest

$57.77

-0.03 (-0.05%)

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GBDC

Golub Capital

$17.79

0.045 (0.25%)

18:42
11/18/19
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18:42
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18:42
Upgrade
Golub Capital rating change at Keefe Bruyette »

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GM

General Motors

$36.62

-0.25 (-0.68%)

, TM

Toyota

$143.53

-0.76 (-0.53%)

18:42
11/18/19
11/18
18:42
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18:42
Periodicals
CA to halt purchase of GM, Toyota, Fiat Chrysler vehicles, Reuters reports »

The state of California…

GM

General Motors

$36.62

-0.25 (-0.68%)

TM

Toyota

$143.53

-0.76 (-0.53%)

FCAU

Fiat Chrysler

$15.63

-0.39 (-2.43%)

NSANY

Nissan

$0.00

(0.00%)

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  • 19

    Nov

CRMT

America's Car-Mart

$90.88

3.22 (3.67%)

, WUBA

58.com

$50.26

-1.35 (-2.62%)

18:38
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18:38
Hot Stocks
Fly Intel: After Hours Movers »

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CRMT

America's Car-Mart

$90.88

3.22 (3.67%)

WUBA

58.com

$50.26

-1.35 (-2.62%)

BILI

Bilibili

$16.39

-0.32 (-1.92%)

SAEX

SAExploration

$1.51

-0.05 (-3.21%)

CLVS

Clovis

$7.05

0.68 (10.68%)

NOW

ServiceNow

$266.56

6.65 (2.56%)

OKTA

Okta

$121.21

3.76 (3.20%)

SPLK

Splunk

$122.64

3.49 (2.93%)

WWD

Woodward

$113.64

-1.15 (-1.00%)

KRNT

Kornit Digital

$33.07

-1.13 (-3.30%)

ASH

Ashland

$78.65

0.03 (0.04%)

VNET

21Vianet

$8.28

0.23 (2.86%)

DHT

DHT Holdings

$7.52

-0.2 (-2.59%)

KRTX

Karuna Therapeutics

$94.70

77.44 (448.67%)

EGHT

8x8, Inc.

$20.78

0.13 (0.63%)

I

Intelsat

$7.98

-5.42 (-40.45%)

PFGC

Performance Food Group

$46.09

-0.08 (-0.17%)

EFC

Ellington Financial

$18.79

0.01 (0.05%)

03/08/13
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03/06/13
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03/06/13
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LEVI

Levi Strauss

$17.06

-0.115 (-0.67%)

18:31
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Hot Stocks
Levi Strauss CEO: I believe in the importance of innovation »

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CSCO

Cisco

$45.17

0.07 (0.16%)

18:17
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Periodicals
Cisco sues former employees over claims of trade secret theft, Bloomberg says »

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  • 09

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    Feb

ABBV

AbbVie

$88.71

0.07 (0.08%)

18:09
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AbbVie treatment of myelofibrosis granted FDA orphan status »

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  • 07

    Dec

PRQR

ProQR Therapeutics

$6.27

-0.64 (-9.26%)

18:06
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Hot Stocks
ProQR Therapeutics treatment of retinal dystrophy in P23H granted orphan status »

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BILI

Bilibili

$16.39

-0.32 (-1.92%)

18:04
11/18/19
11/18
18:04
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18:04
Earnings
Bilibili sees Q4 revenue RMB1.93B-RMB1.98B »

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  • 18

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WUBA

58.com

$50.26

-1.35 (-2.62%)

18:03
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18:03
Earnings
58.com sees Q4 revenue up 12%-15% in RMB terms »

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  • 19

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BILI

Bilibili

$16.39

-0.32 (-1.92%)

18:03
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18:03
Hot Stocks
Bilibili reports average MAUs reached 127.9M in Q3 »

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  • 18

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WUBA

58.com

$50.26

-1.35 (-2.62%)

18:03
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18:03
Earnings
58.com reports Q3 adjusted EPS 96c, consensus 82c »

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  • 19

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BILI

Bilibili

$16.39

-0.32 (-1.92%)

18:01
11/18/19
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18:01
Earnings
Bilibili reports Q3 adjusted EPS (15c), consensus (14c) »

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  • 18

    Nov

DDOG

Datadog

$40.36

-0.33 (-0.81%)

, AMZN

Amazon.com

$1,752.70

15.21 (0.88%)

17:56
11/18/19
11/18
17:56
11/18/19
17:56
Hot Stocks
Datadog announces support for AWS CloudFormation Registry and CLI »

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DDOG

Datadog

$40.36

-0.33 (-0.81%)

AMZN

Amazon.com

$1,752.70

15.21 (0.88%)

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  • 19

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    Nov

17:55
11/18/19
11/18
17:55
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17:55
Conference/Events
Morgan Stanley analyst to hold an analyst/industry conference call »

Managing Director &…

GVA

Granite Construction

$26.50

-0.6 (-2.21%)

17:54
11/18/19
11/18
17:54
11/18/19
17:54
Hot Stocks
Granite Construction awarded $14M airfield improvement project in California »

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ZS

Zscaler

$44.46

-1.37 (-2.99%)

, MSFT

Microsoft

$150.35

0.4 (0.27%)

17:51
11/18/19
11/18
17:51
11/18/19
17:51
Initiation
Zscaler, Microsoft initiated at DA Davidson »

Zscaler initiated with a…

ZS

Zscaler

$44.46

-1.37 (-2.99%)

MSFT

Microsoft

$150.35

0.4 (0.27%)

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  • 20

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    Dec

OKTA

Okta

$121.21

3.76 (3.20%)

17:51
11/18/19
11/18
17:51
11/18/19
17:51
Upgrade
Okta rating change at DA Davidson »

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  • 05

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    Dec

PANW

Palo Alto Networks

$248.50

1.465 (0.59%)

17:48
11/18/19
11/18
17:48
11/18/19
17:48
Initiation
Palo Alto Networks initiated at DA Davidson »

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CRWD

Crowdstrike

$57.06

-2.73 (-4.57%)

, AMZN

Amazon.com

$1,752.70

15.21 (0.88%)

17:47
11/18/19
11/18
17:47
11/18/19
17:47
Initiation
Crowdstrike, Amazon.com initiated at DA Davidson »

Crowdstrike valuation…

CRWD

Crowdstrike

$57.06

-2.73 (-4.57%)

AMZN

Amazon.com

$1,752.70

15.21 (0.88%)

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