What stock buybacks are, and how a new 1% tax affects your portfolio

U.S. President Joe Biden gestures as he delivers remarks on the Inflation Reduction Act of 2022 at the White House in Washington, July 28, 2022. Elizabeth Frantz | Reuters The new 1% excise tax on corporate stock buybacks — a late addition to President Joe Biden’s sweeping tax, health and climate package — adds a … Read more

Berkshire Hathaway Beats Estimates for Second-Quarter Profits

Text size Berkshire Hathaway CEO Warren Buffett added slightly to stakes in Apple and Chevron. Andrew Harrer/Bloomberg Berkshire Hathaway ’s operating profits rose 39% in the second quarter, topping estimates, on strength in the company’s insurance and railroad businesses as well as sharply higher investment income. The company continued to moderate its pace of share … Read more

JPMorgan Earnings: Stock Falls After Lender Halts Buybacks, Posts Profits Miss

Text size Investors are focusing on the steps JPMorgan is taking to prepare for a recession, rather than a double-digit increase in net interest income. David Paul Morris/Bloomberg Bank earnings season got off to a rocky start Thursday after JPMorgan Chase ’s second-quarter results fell short of what Wall Street expected. Making matters worse, the … Read more