Traders Alert – News And Movers Today
| What does Buffett know that you dont ? “Much More” is the answer . Warren Buffett the Oracle of Omaha who has turned the investment world inside out is at it again . Crowd Funding –Vegas Sports Betting – The House Always Wins Buffett purchased a 2.4 % stake – $549 Million in the supermarket giant Krogers ( NYSE – KR ) and a 0.4% stake $192 million in biotech superstar Biogen (NASDAQ – BIIB ). Serious investors should immediately follow Buffett’s lead and place these two companies on their BUY LIST. |
SUMMARY
- Warren Buffett’s Berkshire Hathaway disclosed stakes in Kroger and Biogen
- The famed investor spent about $740 million on shares in the supermarket and biopharmaceuticals giants last quarter.
- News of the famed investor’s backing added a total of $2.3 billion to the pair’s market caps .
- Kroger stock jumped 7% and Biogen stock rose 1%. when the purchase was announced
Warren Buffett famously moves markets with his investment decisions. The so-called “Oracle of Omaha” showcased his clout when he revealed new stakes in Kroger and Biogen , spurring investors to add a total of $2.3 billion to the pair’s market capitalizations
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Buffett’s Berkshire Hathaway conglomerate shelled out $549 million for a 2.4% stake in US supermarket giant Kroger in the fourth quarter of 2019, SEC filings show. It also paid $192 million for a 0.4% stake in Biogen, a biopharmaceuticals titan that develops and delivers therapies for neurological diseases.
News of Buffett’s backing drove Kroger’s stock up more than 7% on Monday, boosting its market cap by $1.7 billion to over $24 billion. It also drove Biogen stock up 1%, lifting its market cap by about $560 million to $58.7 billion.
The billionaire investor’s new bets seem to be paying off, even excluding the impact of his stamp of approval. Kroger’s stock rose about 10% between October 1 and the close of trading on Friday — before Buffett revealed his stake. Biogen’s stock rocketed 47% over the same period.
The stock rallies reflect progress at both companies. Kroger is realizing gains from its sweeping “Restock Kroger” initiative, which involves remodeling stores, optimizing processes, investing in digital offerings, and partnering with the likes of Microsoft and Ocado.
Meanwhile, stronger sales of Biogen’s treatments for multiple sclerosis and spinal muscular atrophy boosted the company’s revenue by 7% and its net income by 33% in 2019.
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