Trader’s Watchlist: Berkshire Hathaway Inc. (NYSE:BRK.A); Pfizer Inc. (NYSE:PFE); General Electric Company (NYSE:GE)
Dallas, Texas, 09/24/2014 (ustrademedia) – Berkshire Hathaway Inc. (NYSE:BRK.A) is said to be sitting on a loss of nearly $750 million from its continued investment in British grocery chain Tesco Corporation (USA) (NASDAQ:TESO) as per the latest analysis provided by CNN Money. The Warren Buffett led firm has been a long time advocate of the British retailer. It has held on to nearly 4 percent stake in Tesco Corporation (USA) (NASDAQ:TESO) in spite of the continued weakness being seen in the retailers operations over the past few quarters. In fact earlier this quarter, the retailer had issued a profit dip warning due to intense competition from its newer rivals. Berkshire Hathaway Inc. (NYSE:BRK.A) had bought into the 4% stake in the company for a purported $1.7 billion over the past few years.
Pfizer Inc. (NYSE:PFE) has disclosed that it has sent out feelers to Actavis plc (NYSE:ACT) to gauge the drug makers response to any potential acquisition moves made by the U.S drug company. The move has been described by various academics as a potential manuver by the U.S drug maker to set up its HQ outside U.S to reduce its corporate tax burden. People in the know have denied that the two companies are in formal talks and no official offer has yet been made by Pfizer Inc. (NYSE:PFE) to acquire Actavis plc (NYSE:ACT). Pfizer Inc. (NYSE:PFE) has restarted its evaluation process to shortlist potential acquisitions outside U.S after its $114 billion bid on German drug firm AstraZeneca plc (ADR)(NYSE:AZN) was rejected by the target firm earlier this year.
General Electric Company (NYSE:GE) has been warned by Barclays PLC (ADR)(NYSE:BCS) bank analyst Scott Davis that many of the big institutional investors including market influencing mutual funds have been staying away from investing in the stock of the industrial giant. He has pointed out that the stock of General Electric Company (NYSE:GE) has won the dubious distinction of being one of the worst performing stock amongst the Dow Jones Industrial Average tracked firms.