Morgans AM

Morgans AM: Friday 15 November 2019


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US equity markets little changed at US-China trade optimism started to fade once more - Dow dipped -2-points The broader inched S&P500 +0.08% higher to eke out its 21st record closing high (3,096.63) of 2019. The technology-centric NASDAQ flat. Cisco Systems Inc fell over >7% after posting a weak earnings outlook after the close of the previous session. Nike Inc rose +0.5% in extended trading after announcing that it was increasing its dividend by +11% to US$0.245c from US$0.22c on the company's class A and B stock. It is the eighteenth consecutive year that the company has increased the dividend payout. Warren Buffet's investment vehicle Berkshire Hathaway Inc revealed new stakes in furniture maker RH and energy company Occidental Petroleum Corp according to a filing earlier this morning AEST. The conglomerate owned ~1.2M shares of RH, formerly known as Restoration Hardware, and nearly 7.5M shares of Occidental. Berkshire Hathaway trimmed stakes in Apple Inc and Wells Fargo, among other companies. In April, Berkshire committed US$10B to help Occidental's bid for Anadarko Petroleum Corp, giving Occidental an edge over Chevron Corp CVX, -0.26%, which was also vying for Anadarko and later bowed out. RH rallied more than >6% in the extended session, while Occidental rose +1.6%.
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Morgans AMBy Morgans Financial Limited


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