On this episode of Stock Movers:
- Berkshire Hathaway (BRK-B) fell in premarket trading after Warren Buffett announced he will be stepping down as CEO of Berkshire Hathaway at year-end, with Greg Abel set to take over upon board approval. Bloomberg Intelligence analysts Matthew Palazola and Eric Bedell expect Abel to maintain Berkshire’s ethos, and say that he may also bring a fresher approach to capital management.
- Netflix (NFLX) shares are lower after President Trump announced plans to impose a 100% tariff on films produced overseas, extending his restrictive trade policies to the entertainment sector. The announcement has raised questions about how the tariff would work, with many films involving global production and post-production work done in various countries.
- Disney (DIS) shares sank this morning ahead of a key earnings report. The stock's also following Netflix and other companies exposed to movie production due to President Trump's tariff announcement on foreign films production.
- Nvidia (NVDA) is also on the downswing this morning due to exposure to the Taiwanese dollar, which surged as much as 5% on Monday, the biggest intraday gain in over three decades, on speculation exporters are rushing to convert their holdings of US dollars to the island's currency.
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