Warren Buffett Buys Amazon Stock; Will He Change His Mind On ‘Rat Poison’ Bitcoin? - CCN

By CCN.com: Berkshire Hathaway just bought its first Amazon shares, Berkshire founder and CEO Warren Buffett revealed to CNBC Thursday night. On the eve of an annual Berkshire shareholders meeting in Omaha, Buffett told CNBC that someone at Berkshire’s asset management desk just invested in some Amazon shares, but “it wasn’t me.”

“One of the fellows in the office that manage money… bought some Amazon so it will show up in the 13F.”

Amazon stock purchase a first for Warren Buffet

Warren Buffett is wrong about Bitcoin – just like he was wrong about Amazon. | Source: Shutterstock

The stake in Amazon is a first for the multinational investment conglomerate. Although Warren Buffett has had strong words of praise for Jeff Bezos and his company’s business, the Oracle of Omaha has mysteriously held off on taking a stake in the e-commerce giant since its IPO in 1997. Buffet jokingly reassured his personality isn’t changing:

“I’ve been a fan, and I’ve been an idiot for not buying. But I want you to know it’s no personality changes taking place.”

The about face on Amazon isn’t completely out of the blue. When asked in 2017 on CNBC’s Squawk Box why he hasn’t invested in Amazon shares yet, Buffett gave a one word answer: “Stupidity.” Last year in an interview with CNBC, Warren Buffett said:

“The truth is that I’ve watched Amazon from the start and I think what Jeff Bezos has done is something close to a miracle, and the problem is if I think something is going to be a miracle I tend not to bet on it.”

Warren Buffett ‘Blew it’ by not investing in Amazon

Warren Buffett told CNBC he “blew it” by not investing in Amazon earlier. | Source: Shutterstock

Then after CNBC’s Becky Quick asked Buffett if he would finally jump into Amazon stocks as he did with Apple 36 years after the computer and smartphone company’s initial public offering, Buffett revealed that he has been held back by the sting of regret that he didn’t bet big on Amazon at his earliest opportunity. He says he “blew it.”

“It’ll probably be tough. I’ve probably got so many psychological problems with the fact that I didn’t do it that it’s very hard to do it.”

Warren Buffett’s slow and steady approach to investing has certainly won the race of investment finance for him. When he finally relented in 2016 after years of waiting to invest in Apple, Berkshire Hathaway went all in with a $1 billion surprise blitz of 9.8 million Apple shares during a downturn in Apple sales and share prices.

Could Buffet change his mind on bitcoin?

Warren Buffett has called Bitcoin “rat poison squared” in the past, but he does appear very willing lately to reassess his investment positions. | Source: Shutterstock

That could certainly make you wonder exactly how much “some Amazon” means when Warren Buffett says it. Although Buffett’s warded off any speculation that he’s undergoing any personality changes, if he’s finally opened up to Apple and Amazon in the space of three years, maybe the Oracle will change his mind about Bitcoin too. Yes, despite labeling the cryptocurrency ‘rat poision‘ a year ago.

After all, Bitcoin has enjoyed massive year over year growth in its annual price floor, and a flourishing, mature, multi-billion dollar industry at an advancing level of market adoption has grown up around Bitcoin. At this point, the original cryptocurrency is looking more and more like the kind of sound, conservative investments for long term growth that Buffet likes.

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https://www.ccn.com/warren-buffett-amazon-stock-change-mind-bitcoin-next

2019-05-03 07:24:07Z
52780282545353

Warren Buffett Buys Amazon Stock; Will He Change His Mind On ‘Rat Poison’ Bitcoin? - CCN

By CCN.com: Berkshire Hathaway just bought its first Amazon shares, Berkshire founder and CEO Warren Buffett revealed to CNBC Thursday night. On the eve of an annual Berkshire shareholders meeting in Omaha, Buffett told CNBC that someone at Berkshire’s asset management desk just invested in some Amazon shares, but “it wasn’t me.”

“One of the fellows in the office that manage money… bought some Amazon so it will show up in the 13F.”

Amazon stock purchase a first for Warren Buffet

Warren Buffett is wrong about Bitcoin – just like he was wrong about Amazon. | Source: Shutterstock

The stake in Amazon is a first for the multinational investment conglomerate. Although Warren Buffett has had strong words of praise for Jeff Bezos and his company’s business, the Oracle of Omaha has mysteriously held off on taking a stake in the e-commerce giant since its IPO in 1997. Buffet jokingly reassured his personality isn’t changing:

“I’ve been a fan, and I’ve been an idiot for not buying. But I want you to know it’s no personality changes taking place.”

The about face on Amazon isn’t completely out of the blue. When asked in 2017 on CNBC’s Squawk Box why he hasn’t invested in Amazon shares yet, Buffett gave a one word answer: “Stupidity.” Last year in an interview with CNBC, Warren Buffett said:

“The truth is that I’ve watched Amazon from the start and I think what Jeff Bezos has done is something close to a miracle, and the problem is if I think something is going to be a miracle I tend not to bet on it.”

Warren Buffett ‘Blew it’ by not investing in Amazon

Warren Buffett told CNBC he “blew it” by not investing in Amazon earlier. | Source: Shutterstock

Then after CNBC’s Becky Quick asked Buffett if he would finally jump into Amazon stocks as he did with Apple 36 years after the computer and smartphone company’s initial public offering, Buffett revealed that he has been held back by the sting of regret that he didn’t bet big on Amazon at his earliest opportunity. He says he “blew it.”

“It’ll probably be tough. I’ve probably got so many psychological problems with the fact that I didn’t do it that it’s very hard to do it.”

Warren Buffett’s slow and steady approach to investing has certainly won the race of investment finance for him. When he finally relented in 2016 after years of waiting to invest in Apple, Berkshire Hathaway went all in with a $1 billion surprise blitz of 9.8 million Apple shares during a downturn in Apple sales and share prices.

Could Buffet change his mind on bitcoin?

Warren Buffett has called Bitcoin “rat poison squared” in the past, but he does appear very willing lately to reassess his investment positions. | Source: Shutterstock

That could certainly make you wonder exactly how much “some Amazon” means when Warren Buffett says it. Although Buffett’s warded off any speculation that he’s undergoing any personality changes, if he’s finally opened up to Apple and Amazon in the space of three years, maybe the Oracle will change his mind about Bitcoin too. Yes, despite labeling the cryptocurrency ‘rat poision‘ a year ago.

After all, Bitcoin has enjoyed massive year over year growth in its annual price floor, and a flourishing, mature, multi-billion dollar industry at an advancing level of market adoption has grown up around Bitcoin. At this point, the original cryptocurrency is looking more and more like the kind of sound, conservative investments for long term growth that Buffet likes.

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https://www.ccn.com/warren-buffett-amazon-stock-change-mind-bitcoin-next

2019-05-03 07:19:51Z
52780282545353

Beyond Meat is offering free food at Carl's Jr., Del Taco and other restaurants Friday - USA TODAY

Kelly Tyko USA TODAY

Published 1:01 AM EDT May 3, 2019

Beyond Meat is celebrating its successful launch on the stock market with its first-ever Beyond Day Friday.

The alternative meat brand is giving away free food at select restaurants that serve its products including Carl's Jr. and Del Taco. It's also giving out $3 off coupons to use at grocery stores.

“On this day we acknowledge the hard work, the journey so far and the long road ahead,” Beyond Meat posted on its website. “And to say thanks, we’ve partnered with some of your favorite restaurants to provide FREE BEYOND MEAT menu options! Grab a friend and Go Beyond – on us.”

On Thursday, Beyond Meat debuted on the Nasdaq and its shares more than doubled. The purveyor of plant-based burgers and sausages raised about $240 million Thursday, selling 9.6 million shares at $25 each.  Those shares rose 163% to close at $65.75.

May deals: Where to get free food and other discounts this month

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The demand for plant-based products is growing as more people want to reduce meat consumption because of health concerns, Beyond Meat's founder and CEO Ethan Brown recently told USA TODAY.

The company's initial public offering comes amid growing consumer interest in plant-based foods for their presumed health and environmental benefits.

Vegan options are growing: Here's where to find meat-free items

Real Meals: Burger King counters Happy Meals with options if you are 'pissed' or 'salty'

Friday's deals

The following restaurants are offering promotions, while supplies last. To be on the safe side, check with your location before heading out.

Carl's Jr.: Get a free Beyond Famous Star with Cheese when you say “Happy Birthday Beyond” at the register and buy a medium or large soft drink, from 6 a.m. to close Friday.

Del Taco: Get a free Beyond Taco or Beyond Avocado Taco with any order on the Del App Friday. Download the app at www.deltaco.com/app.

Bareburger: From 3 to 6 p.m. Friday, get a free Beyond Burger with the purchase of a drink and a side when you show the Bareburger app on your phone.

Veggie Grill: From 2 to 5 p.m. Friday, get a free VG Beyond Burger when you buy a drink. Must be a VG Rewards app member and you’ll get a code to activate in the app through email. Download the app at www.veggiegrill.com/rewards

Epic Burger: From 4 to 7 p.m., get a free Beyond Burger when you say “Go Beyond” and buy a drink and side.

Coupon: Go to www.beyondmeat.com/beyondday Friday to get a printable coupon for $3 off one Beyond Meat product. Find stores where the products are sold at www.beyondmeat.com.

Contributing: Associated Press

Follow USA TODAY reporter Kelly Tyko on Twitter: @KellyTyko

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https://www.usatoday.com/story/money/food/2019/05/02/free-food-beyond-day-get-free-beyond-meat-stores-and-more/3636340002/

2019-05-03 04:33:00Z
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Beyond Meat surges 135% in its IPO debut - CNBC

Beyond Meat shares surged 135% in their market debut Thursday, giving the maker of plant-based meat substitutes a market value of $3.52 billion.

The company's opening trade of $46 was later than expected, hitting after noon Thursday. Then, after shares soared 125%, trading was paused due to volatility. When trading resumed, the stock rocketed even higher. The company is trading on the Nasdaq under the symbol BYND.

On Wednesday night, Beyond priced its initial public offering at $25 per share, for an implied market value of $1.46 billion. Its IPO price is on the high end of its expected range of $23 and $25 per share. The El Segunda, California-based company first set the range between $19 to $21 a share.

As more Americans embrace a flexitarian diet, cutting down their meat consumption for health and environmental reasons, plant-based meat substitutes are growing in popularity. Beyond's meat alternatives, which range from fake ground beef to burger patties, are designed to more closely mimic the texture and taste of traditional meat. The gluten- and soy-free products use proteins from peas and faba beans and can be found at grocery stores, as well as restaurants like TGI Fridays, Del Taco and White Castle.

In 2018, Beyond reported revenue of $87.9 million, up 170% from the previous year's net sales of $32.6 million. The company plans to use the proceeds from going public to invest in manufacturing facilities, research and development, and sales and marketing.

Big Food has taken notice of the trend. In the fall, Nestle will start selling its own plant-based burger to American consumers, branding it the Awesome Burger. Tyson Foods sold its minority stake in Beyond because it wants to sell its own plant-based proteins, according to Axios.

Beyond is the latest company to make its debut on the stock market this year. While some, like Levi Strauss & Co. and Zoom, have thrived since their IPOs, others — such as ride-share giant Lyft — have seen their stock tumble.

WATCH: FM traders grade Beyond Meat burger

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https://www.cnbc.com/2019/05/02/beyond-meat-ipo.html

2019-05-02 17:31:49Z
52780282939150

With cash dwindling, Tesla seeks to raise $2 billion in debt and equity - Ars Technica

Enlarge / Elon Musk.

Chris Saucedo/Getty Images for SXSW

For the last year, Elon Musk has insisted that Tesla can reach sustained profitability without raising additional cash from investors. But the company is now tacitly admitting that it was wrong, filing papers to raise another $2 billion by selling a mix of debt and equity.

Tesla is seeking to raise money just a few days after reporting an unexpectedly large loss in the first quarter of 2019. That release showed Tesla with dwindling cash in the bank—from $3.7 billion at the start of the year to $2.2 billion on March 31.

The lower cash balance primarily reflected one-time events—paying off a $920 million loan and having a bunch of cars in transit to customers at the end of the quarter. Still, having only $2.2 billion in the bank is a precarious situation for a company that has been known to lose more than $700 million in a single quarter.

Having another $2 billion in the bank would give Tesla much-needed breathing room. And the company has plenty of uses for extra cash, with several new vehicles—including the Model Y SUV, Tesla Semi, and the new Tesla Roadster—slated to begin production before the end of 2020.

Shareholders don't usually like to see companies dilute the value of their shares by issuing new stock, but markets have reacted positively to Tesla's announcement. The company's share price is up three percent over Wednesday's closing price.

Lenders may be wary of Tesla's large debt burden

Tesla is aiming to sell stock worth $642 million at Tesla's current share price. Tesla will also be offering $1.35 billion in convertible senior notes—debt that gives the lender an option to take Tesla stock (at a fixed price) rather than cash when the loan matures.

Practically speaking, this means that Tesla will need to pay back the loan in May 2024 if Tesla's stock price performs poorly over the next five years. If the stock performs well, on the other hand, lenders will opt to take the shares instead. This share conversion option sweetens the pot for lenders, helping Tesla to get a lower interest rate than the company could get with a more conventional loan. Tesla has issued convertible notes several times in the past.

Tesla paid off $920 million in March and is due to pay off around $2 billion in loans in the next couple of years, so the latest debt issue doesn't necessarily mean the company's overall debt burden will be on an upward trajectory.

In the past, Tesla has portrayed itself as a fast-growing startup that needed to borrow heavily to finance rapid growth. But it only makes sense to invest in growth if it's going to eventually lead to healthy profits. The Model 3 helped Tesla deliver two strong quarters of profit in the second half of 2018, but then it slipped back into the red last quarter. During the most recent earnings call, executives said they didn't expect to return to profitability until the third quarter.

Bond markets have reflected growing worries about Tesla's prospects in recent months. The value of previously issued Tesla bonds plunged earlier this month when the company announced weaker than expected first quarter car deliveries. Hence, Tesla may have to offer a higher interest rate than in the past to entice investors to take a risk on a company whose long-term viability is far from certain.

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https://arstechnica.com/cars/2019/05/tesla-seeks-to-raise-another-2-billion-after-unprofitable-quarter/

2019-05-02 16:53:00Z
CBMiZ2h0dHBzOi8vYXJzdGVjaG5pY2EuY29tL2NhcnMvMjAxOS8wNS90ZXNsYS1zZWVrcy10by1yYWlzZS1hbm90aGVyLTItYmlsbGlvbi1hZnRlci11bnByb2ZpdGFibGUtcXVhcnRlci_SAW1odHRwczovL2Fyc3RlY2huaWNhLmNvbS9jYXJzLzIwMTkvMDUvdGVzbGEtc2Vla3MtdG8tcmFpc2UtYW5vdGhlci0yLWJpbGxpb24tYWZ0ZXItdW5wcm9maXRhYmxlLXF1YXJ0ZXIvP2FtcD0x

Tesla (TSLA) Stock Surges as Elon Musk Ponders Bond Sale - Hacked

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2019-05-02 14:31:14Z
52780282026818

Beyond Meat surges 135% in its market debut - CNBC

Beyond Meat CEO Ethan Brown speaks before ringing the opening bell at Nasdaq MarketSite, May 2, 2019 in New York City.

Drew Angerer | Getty Images

Beyond Meat shares surged 135% in their market debut, giving the maker of plant-based meat substitutes a market value of $3.52 billion.

The company's opening trade of $46.00 was later than expected, hitting after noon Thursday. Then, after shares soared 125%, trading was paused due to volatility. When trading resumed, the stock rocketed even higher. The company is trading on the Nasdaq under the symbol "BYND."

On Wednesday night, Beyond priced its initial public offering at $25 per share, for an implied market value of $1.46 billion. Its IPO price is on the high end of its expected range of $23 and $25 per share. The El Segunda, California-based company first set the range between $19 to $21 a share.

As more Americans embrace a flexitarian diet, cutting down their meat consumption for health and environmental reasons, plant-based meat substitutes are growing in popularity. Beyond's meat alternatives, which range from fake ground beef to burger patties, are designed to more closely mimic the texture and taste of traditional meat. The gluten- and soy-free products use proteins from peas and faba beans and can be found at grocery stores, as well as restaurants like TGI Fridays, Del Taco and White Castle.

In 2018, Beyond reported revenue of $87.9 million, up 170% from the previous year's net sales of $32.6 million. The company plans to use the proceeds from going public to invest in manufacturing facilities, research and development, and sales and marketing.

Meanwhile, Big Food has taken notice of the trend. In the fall, Nestle will start selling its own plant-based burger to American consumers, branding it the Awesome Burger. Tyson Foods sold its minority stake in Beyond because it wants to sell its own plant-based proteins, according to Axios.

Beyond is the latest company to make its debut on the stock market this year. While some, like Levi Strauss & Co. and Zoom, have thrived since their IPOs, others — such as ride-share giant Lyft — have seen their stock tumble.

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https://www.cnbc.com/2019/05/02/beyond-meat-ipo.html

2019-05-02 16:34:07Z
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