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On March 19th, Fitch Ratings Brian Coulton stated that if the oil price surge triggered by the Middle East war proves to be temporary, "a rate cut by the Federal Reserve in June is a realistic possibility." The Fed kept interest rates unchanged as expected today, while stating that it needs more time to assess the impact of the war on inflation. Officials inflation forecasts were slightly revised upwards. Coulton said, "This likely reflects part of the recent jump in oil prices, and also some stickiness in the latest core PCE data." In his view, the Fed may still remain on hold in April. Without signs of persistently stubborn inflation, a weakening labor market "will reignite concerns about the risk of rising unemployment, thus prompting a rate cut in June."Market sources say that Frank Lozano, the U.S. Armys missile program manager, said the U.S. Army is "very close" to deploying the U.S. militarys first hypersonic weapon, a assessment that differs from the Pentagons recent assessment that more testing is needed before deployment.The Office of the United States Trade Representative: The United States and Mexico announced further steps to advance bilateral discussions ahead of the joint review of the USMCA (United States-Mexico-Canada Agreement). U.S. Trade Representative Jamieson Greer met today with Mexican Economy Minister Marcelo Ebrard to formally launch bilateral technical discussions ahead of the July 1 joint review of the USMCA.Micron Technology (MU.O) CEO: Computing architectures are expected to become more reliant on storage.Fitch: The U.S. private credit default rate will fall to 5.4% in February 2026.

Berkshire Hathaway Discloses A Stake in HP; Shares Soar Almost 10%

Haiden Holmes

Apr 07, 2022 10:23

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HP shares increased 9.9 percent to $38.38 in after-hours trading on Berkshire's disclosure of the interest in SEC filings.


HP, headquartered in Palo Alto, California, has about 1.06 billion outstanding shares as of Jan. 31.


HP and Berkshire Hathaway did not immediately reply to calls for comment.


HP is Berkshire's third significant investment since Feb. 26, when Buffett said in his annual shareholders letter that "internal prospects provide far higher returns than acquisitions" and that stock markets "excite us little."


Berkshire agreed to acquire insurance business Alleghany (NYSE:Y) Corp for $11.6 billion in cash on March 21, bolstering its portfolio of insurers, which already includes Geico.


Berkshire previously disclosed a 14.6 percent position in Occidental Petroleum Corp (NYSE:OXY), a holding that cost well over $6 billion to acquire.


Buffett had gone six years without making a significant acquisition, leaving Berkshire with $146.7 billion in cash and equivalents. Buffett has vowed to maintain a cash reserve of at least $30 billion.


Berkshire did not specify whether the HP share is owned by Buffett or his portfolio managers Todd Combs and Ted Weschler, despite the fact that Buffett typically manages bigger assets.


Buffett is primarily responsible for Berkshire Hathaway's position in Apple Inc (NASDAQ:AAPL), which he refers to as one of the "Big Four" firms that account for the majority of the value of his Omaha, Nebraska-based conglomerate.


Berkshire's insurers, the BNSF railroad, and Berkshire Hathaway (NYSE:BRKa) Energy round up the "Big Four."

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