BERKSHIRE STOCK UP 31%, REGAINS TIGER 21 TOP SPOT
Berkshire stock up 31%, regains TIGER 21 top spotTuesday, October 22, 2013Number of the day31 percentThat’s how much Berkshire Hathaway stock has gained thisyear. The company, which Warren Buffett transformed froma textile business into a conglomerate with assets rangingfrom Geico insurance to See’s Candies, regained the topspot in a survey of preferred investments by members ofTiger 21, a New York group of wealthy investors. Berkshirereplaced Apple, which had held first place for the past twoyears.Hear here“I wouldn’t expect this to be a rampant problem ofanonymous Twitter users bashing companies.”Liz Dunn, an analyst at Macquarie Group, on recentcomments on Twitter about J.C. Penney that drove downthe struggling retailer’s stock. Investment adviser BryanMortenson tweeted Oct. 15 about “unsubstantiated” rumorsthat the chain hired a bankruptcy attorney. Three dayslater,@CalConfidence said Penney lost access to Canadiancredit. Penney denied the posts, though they’re a reminderof social media’s power to undermine the reputations ofpublic companies.Heads upSymantec reports quarterly earnings Wednesday, and analysts predict the software maker will post a 19 percentdecline in net income to $155 million. Sales may slip 1 percent to $1.69 billion. Steve Bennett, named CEO of theMountain View company last year after the ouster of his predecessor, Enrique Salem, has been cutting costs andconsolidating sales functions as shrinking PC sales drag down demand for antivirus software.
