Bruce Bentley

  Warren Buffett's Berkshire Hathaway posted a quarterly profit on stock market gains and better insurance results. Berkshire BRK.B, -0.95% BRK.A, -1.29% reported net income of $ 11.7 billion, or $ 7,638 per Class A share equivalent, on Saturday, compared with a loss of $ 49.7 billion. $ Or $ 30,653 per Class A share equivalent for the same period last year. Operating profit, which excludes some investment results, increased to $ 7.02 billion from $ 5.87 billion a year ago. Berkshire had around $ 145.4 billion in cash at the end of the first quarter, up from around $ 138.3 billion at the end of 2020. The conglomerate runs a large insurance operation, as well as railways, utilities, industrial manufacturers, retailers, and even car dealerships. It also holds great investments, especially in the stock market . A change in accounting rules in recent years has meant that Berkshire's earnings often reflect the higher performance of the stock market, while operating earnings mor...

(Bloomberg) - Tesla Inc. posted record earnings in the first quarter, bypassing a shortage of industrial chips, improving its manufacturing and even making money on Bitcoin. Yet the EV maker’s shares fell as much as 3.1% in late trading after the results were announced Monday. This is a sign of the high expectations Tesla is now facing after gaining eight times its stock last year. Among the analysts disputes: Tesla didn't offer a specific estimate for vehicle deliveries in 2021. Chief Executive Officer Elon Musk urges ramping up production and maintaining Tesla's dominance in the electric vehicle market, but competitors are aggressively moving in. Musk said demand on Monday is higher than ever before, but with no further numbers, investors shrugged. "It's all good, but there isn't much news and it wasn't a blowout," said Gene Munster of Loup Ventures. "Everything happened what people thought." Bitcoin Boost The company pulled a new lever on ...