On this episode of Stock Movers:
- Berkshire Hathaway (BRK.B) shares are lower after Warren Buffett’s company took a $3.8 billion impairment on its Kraft Heinz stake. Bloomberg Intelligence analyst Matthew Palazola writes Berkshire Hathaway’s diversity of operations should allow it to withstand emerging headwinds from US trade policies, lower interest rates and revisions to federal energy tax policy.”
- Tesla (TSLA) share are higher as it approved an interim stock award of 96 million shares for Chief Executive Officer Elon Musk. The Tesla board emphasized the importance of retaining Musk at the helm, saying the reward was a first step 'good faith' payment to Musk. A special board committee has been exploring ways to offer Musk a new compensation agreement after his prior plan was voided by the Delaware Chancery Court.
- Boeing (BA) is lower after workers at Boeing's St. Louis-area defense factories are striking after union members rejected the company's modified contract offer. Tom Boelling, the union local's top official, said IAM District 837 members "deserve a contract that reflects their skill, dedication, and the critical role they play in our nation's defense." Dan Gillian, a Boeing vice president, said the company is "prepared for a strike and have fully implemented our contingency plan to ensure our non-striking workforce can continue supporting our customers."
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