Gold Jumps Oil Dumps 2/8/16
Last week Berkshire Hathaway bought Precision Castparts. Now three Precision Castparts leaders, including CEO Mark Donegan, Corporate Counsel Ruth Beyer and CFO Shawn Hagel have been appointed to Warren Buffets Board of Directors. (Omaha World Herald)
Hasbro posted its biggest jump in quarterly revenue in nearly five years driven by demand for Star Wars and Jurassic World toys. Sales from toys targeted at boys, surged 35% to $569.8 million in the quarter. Sales from its games category, which includes Monopoly, were up 11% after two straight quarters of decline. Hasbro profits rose 3.4% to $175.8 million. The company also raised its quarterly dividend by 11%to 51 cents per share. (Reuters)
Don’t forget we live in a global economy. Ford plans to build a new assembly plant in Mexico and increase output in that country. That follows the signing of a new labor deal which boosts worker pay in the U.S.. (Wall Street Journal)
Chobani, the Greek-yogurt maker, has rejected offers from beverage giant Pepsi and other investors to buy a majority of the company. Chobani was exploring a sale after being approached by several parties in 2015. The yogurt maker wanted to sell a minority stake while outside investors were looking for a majority stake in the company. Coca-Cola was also a suitor. (Reuters)
The S&P 500 is down 27 and the NASDAQ is down 86. The MSCI international index is down 2.21%.
Oil is up $1.00 at $29.75 a barrel.
Gold is up $24 at $1182 a Troy ounce.
With Northwest Quadrant Wealth Management a Registered Investment Advisor I am Troy Reinhart.
If you would like an audio version for use every business morning contact Troy Reinhart at Northwest Quadrant Wealth Management