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Dillard’s jumps more than 20% after one of Buffett’s investing lieutenants discloses personal stake

October 13, 2020

Dillard’s department store.

Source: Zereshk | Wikipedia

Shares of Dillard’s gained 27% on Monday — at one point during the session jumping more than 40% — after one of Warren Buffett’s investing lieutenants disclosed a personal stake in the embattled retailer.

According to filings with the Securities and Exchange Commission, Ted Weschler, who is an investment manager at Berkshire Hathaway, bought roughly 1.08 million shares of Dillard’s, or about 5.89% of shares outstanding.

The Friday filing shows that Weschler topped the 5% threshold on Sept. 29. The filing noted that the shares will be held in a trust on behalf of Weschler’s family members.

Shares of Dillard’s are down more than 40% this year amid lackluster sales. In the latest quarter, however, the retailer reported a much smaller-than-expected quarterly loss thanks to inventory and cost control measures. Revenue, however, came up short.

Weschler, along with Buffett’s other protege, Todd Combs,

GM had personal stake in protecting Titans from COVID-19

October 12, 2020

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NASHVILLE, Tenn. (AP) — Tennessee general manager Jon Robinson has a very personal stake in keeping the Titans safe during the coronavirus pandemic. He hopes people around the NFL understand he has tried to do everything the right way.

His oldest daughter, Taylor, has several auto-immune issues, including Type 1 diabetes and rheumatoid arthritis.

“We try to do everything we can to protect her and keep her safe because exposing her to this, it would be really, really serious for her,” Robinson said Monday.

Robinson noted that’s why the Titans worked hard to follow all protocols to protect everyone connected with the franchise. Still, the Titans wound up with the NFL’s first COVID-19 outbreak, with a total of 24 players and personnel testing positive since Sept. 24.

No, the Titans (3-0) have not heard from the NFL or the players union on any punishment, and Robinson said whether discipline is

Dillard’s jumps more than 40% after one of Buffett’s investing lieutenants discloses personal stake

October 12, 2020

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Shares of Dillard’s jumped more than 40% on Monday after one of Warren Buffett’s investing lieutenants disclosed a personal stake in the embattled retailer.
Ted Weschler, who is an investment manager at Berkshire Hathaway, bought roughly 1.08 million shares of Dillard’s, or about 5.89% of shares outstanding.

Dillard's department store.

© Provided by CNBC
Dillard’s department store.

Shares of Dillard’s jumped 45% on Monday after one of Warren Buffett’s investing lieutenants disclosed a personal stake in the embattled retailer.

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The Friday filing shows that Weschler topped the 5% threshold on Sept. 29. The filing noted that the shares will be held in a trust on behalf of Weschler’s family members.

Shares of Dillard’s are down more than 40% this

Dillard’s jumps 15% after one of Buffett’s investing lieutenants discloses personal stake

October 12, 2020

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Shares of Dillard’s jumped 15% during premarket trading on Monday after one of Warren Buffett’s investing lieutenants disclosed a personal stake in the embattled retailer.
Ted Weschler, who is an investment manager at Berkshire Hathaway, bought roughly 1.08 million shares of Dillard’s, or about 5.89% of shares outstanding.

Dillard's department store.

© Provided by CNBC
Dillard’s department store.

Shares of Dillard’s jumped 15% during premarket trading on Monday after one of Warren Buffett’s investing lieutenants disclosed a personal stake in the embattled retailer.

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The Friday filing shows that Weschler topped the 5% threshold on Sept. 29. The filing noted that the shares will be held in a trust on behalf of Weschler’s family members.

Shares of Dillard’s are down

LMP Automotive Holdings To Buy 70% Stake In Atlantic Automotive Group, Atlantic Central Storage

October 9, 2020

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(RTTNews) – LMP Automotive Holdings, Inc. (LMPX), an online automobiles platform, Friday said agreed to buy 70% stake in New York’s Atlantic Automotive Group, and New York logistics and vehicle storage company, Atlantic Central Storage, in a deal valued at $608 million.

LMP Automotive Holdings, Inc. (LMPX), an online automobiles platform, Friday said agreed to buy 70% stake in New York’s Atlantic Automotive Group, and New York logistics and vehicle storage company, Atlantic Central Storage, in a deal valued at $608 million.

CFO Evan Bernstein said, “This acquisition is expected to add an estimated $1.6 billion in revenue, $38 million in net income, or $3.18 per share, on an annualized basis in 2021, combined with our currently contracted acquisitions which we expect to close beginning the end of next month and the following months.|

The company expects revenues post-closing to exceed $2.2 billion, generating about $55 million in net income

BHP Group to Bump Up Stake in Shenzi Oil and Gas Field to 72%

October 7, 2020

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BHP Group BHP recently announced the signing of an agreement with Hess Corporation to acquire the latter’s 28% interest in Shenzi oil and gas field located in the Gulf of Mexico for $505 million. This move is in sync with the company’s plans to augment its petroleum portfolio through targeted acquisitions in high-quality deepwater assets and the continued de-risking of growth options.

Currently, Shenzi is structured as a joint ownership with BHP being the operator with a 44% interest, Hess holding 28% and Spain’s Repsol S.A. the remaining 28%. Following the completion of the deal, expected by the end of December, BHP Group’s stake will go up to 72% and add approximately 11,000 barrels of oil equivalent per day to production (90% oil).

The Shenzi facility is located approximately 120 miles (195 kilometres) off the Louisiana coastline and is installed in approximately 4,300 feet (1,300 metres) of water on Green

Total Buys 20% Stake In Eolmed Floating Offshore Wind Farm Pilot Project In France

October 7, 2020

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(RTTNews) – Total SA (TTA.L, TTFNF.PK, TOT) announced Wednesday the acquisition of a 20 percent stake in the Eolmed floating Offshore wind farm pilot project in France. The financial terms of the deal were not disclosed.

The 30 megawatts project is located in the Mediterranean, off the coast of Gruissan and near Port-La-Nouvelle in Occitan region. Qair is the historical developer and majority shareholder of the project, which was attributed in July 2016 to accelerate the development of a floating wind technology.

Julien Pouget, Director Renewables of Total, stated, “Floating offshore wind is a very promising segment in which Total notably brings its extensive experience in offshore projects. Together with our partner Qair, we have the necessary resources to meet the technological and financial challenges that will determine our future success.”

Total’s latest investment is part of its ambition to get to net zero by 2050. The company is building

EXCLUSIVE-Saudi PIF in talks to buy stake in UAE supermarket chain Lulu -sources

October 7, 2020

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By Hadeel Al Sayegh and Saeed Azhar

DUBAI, Oct 7 (Reuters) – Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), is in early discussions to buy a stake in supermarket chain Lulu Group International, two sources familiar with the matter told Reuters.

It is in talks with Indian-born businessman Yusuff Ali, who founded Abu Dhabi-based Lulu, one of the largest chains in the Gulf region, the sources said.

Discussions between PIF and Lulu began four to six weeks ago, one of the sources said.

It was not immediately clear how big a stake PIF is seeking to buy as discussions are at an early stage, or whether the talks would lead to a final transaction.

Lulu operates shopping centres, hypermarkets and other businesses with an annual turnover of $7.4 billion, according to its website.

It has operations in Saudi Arabia and other Gulf states as well as

Puma shares dip as Kering sells 5.9% stake

October 6, 2020

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PARIS/BERLIN (Reuters) – Shares in Puma <PUMG.DE> fell 3.5% on Tuesday after French luxury group Kering <PRTP.PA> said it had completed the sale of a 5.9% stake in the German sportswear company for approximately 656 million euros ($772 million).

Kering has increasingly focused on its high-margin luxury brands like Gucci, Saint Laurent and Balenciaga in recent years, spinning off 70% of Puma to its shareholders in 2018.

Puma struggled after it was bought by Kering for 5.3 billion euros in 2007, but it has enjoyed a revival in the last few years, helped by sponsorships of top soccer teams and partnerships with celebrities like Rihanna and Selena Gomez.

The sale reduces Kering’s stake in Puma to 9.8% from a previous 15.7%. Kering, which had announced its plan to sell the stake on Tuesday, said the transaction corresponded to a selling price of 74.50 euros per share.

Puma’s shares traded down

Veolia to Buy Engie’s Suez Stake in Prelude to Full Takeover

October 6, 2020

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(Bloomberg) — Veolia Environnement SA will buy a 29.9% stake in Suez SA from Engie SA for 3.4 billion euros ($4 billion), setting the stage for a full takeover — and potentially a long and acrimonious corporate battle.

a sign on the side of a building: A company logo sits on display at the Veolia Environnement SA headquarters in Paris, France, on Wednesday, Sept. 30, 2020. Engie SA got five more days to consider Veolia Environnement SA’s 3.4 billion-euro bid ($4 billion) for most of its stake in Suez SA, prolonging a corporate fight in the hope of making it less hostile.

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A company logo sits on display at the Veolia Environnement SA headquarters in Paris, France, on Wednesday, Sept. 30, 2020. Engie SA got five more days to consider Veolia Environnement SA’s 3.4 billion-euro bid ($4 billion) for most of its stake in Suez SA, prolonging a corporate fight in the hope of making it less hostile.

Engie’s board agreed late Monday to sell the stake after Veolia increased its price for its holding by 16% and offered guarantees on employment.

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A full takeover would create a global giant in waste and environmental services. But Suez, which has tried to thwart the purchase, remains fiercely opposed to what it