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


Business News - Opportunities - Reviews


Shutterstock photo

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.

Want more video content from Zacks? Subscribe to Zacks Investment News now!

Free Lunch is the newest show from Zacks Investment Research. It is streamed live, four times per week, and features breaking news and analysis from Zacks strategists. Free Lunch is available on YouTube, Facebook Live, Twitter, Ustream, and more.

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!

Looking for Stocks with Skyrocketing Upside?

Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.

Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.

See the pot trades we’re targeting>>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

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

To read this article on Zacks.com click here.

Zacks Investment Research

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


Business News - Opportunities - Reviews



Leave a Reply