Buffett Buys More Apple, GE Falls Further, & Turkey Weighs on Stocks | Free Lunch

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On today’s episode of Free Lunch, Associate Stock Strategist Ryan McQueeney discusses the morning’s top market headlines, including the effect of the Turkish crisis on U.S. stocks, GE’s historic low point, Corona’s new marijuana investment, and earnings from retail giant Macy’s.

Later, he checks in with Warren Buffett’s latest holdings and discusses the investing icon’s stake in Apple.

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U.S. stocks were down in morning trading after the Turkish economic crisis escalated, with the controversial President Erdogan raising tariffs on U.S. imports in response to a weakening lira and recent trade jousting from Washington. Erdogan has also recently threatened to boycott the iPhone and other U.S. electronics.

Meanwhile, shares of Macy’s M fell off a cliff after the retail giant was unable to meet investors’ lofty expectations with its latest quarterly earnings report. Macy’s beat earnings estimates and raised its full-year outlook, but Wall Street deemed its revenue results to be sluggish, and amid market-wide volatility, the stock sold off.

Also this morning, we learned that Corona maker Constellation Brands STZ has upped its stake in Canadian marijuana producer Canopy Growth CGC .  Canopy Growth is Canada’s largest marijuana producer and has recently expressed interest in developing cannabis-infused products, such as sleep aids and drinks.

Finally, investors also marked another historic low point for General Electric GE , as share of the struggling conglomerate touched a nine-year low in morning trading.

On the first half of today’s show, Ryan discusses all of these news stories, providing investors with the key facts they need to know and giving his unique perspective on the headlines.

Later, he discusses Warren Buffett’s increased stake in Apple AAPL . Buffett and Berkshire Hathaway upped their investment in the iPhone maker by 5% in the most recent quarter, so Ryan takes this news as an opportunity to discuss some of the investment titan’s favorite things about the company, including its valuation, profitability, and customer loyalty.

Ryan also fields questions from the audience related to Microchip Technology MCHP , marijuana stocks, and the timing of the next recession. Make sure to check out the show to hear more!

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Constellation Brands Inc (STZ): Free Stock Analysis Report

Apple Inc. (AAPL): Free Stock Analysis Report

General Electric Company (GE): Free Stock Analysis Report

Macy’s, Inc. (M): Free Stock Analysis Report

Microchip Technology Incorporated (MCHP): Free Stock Analysis Report

Canopy Growth Corporation (CGC): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.





1 BUSINESS

Business News - Opportunities - Reviews

 

 

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