Morning Roundup: Today's Top Stories
At The Motley Fool, we know our readers like to be informed. Here's a quick look at today's most relevant financial news, boiled down to what you need to know.
Warren Buffett bets on technology giant IBM
Berkshire Hathaway (NYS: BRK.A) CEO Warren Buffett said in an interview today that it has spent $10.7 billion to build a 64 million-share position in technology titan IBM (NYS: IBM) . The holding gives Berkshire a 5.5% stake in the company. Berkshire's capital was boosted this year by funds that Goldman Sachs (NYS: GS) and General Electric (NYS: GE) returned after Berkshire bought preferred shares of the companies back in 2008. Read the full story atBloomberg.
VeriFone to buy European payments company
Payments processing company VeriFone Systems (NYS: PAY) is purchasing Point International, despite Europe's debt woes and struggling economies. The $815 million deal requires VeriFone to pay off $230 million of the European company's debt. Read the full story atThe Wall Street Journal.
A new market for J&J's new anticlotting drug
Data presented at the American Heart Association's annual meeting Sunday showed that Johnson & Johnson (NYS: JNJ) and Bayer AG's new drug, Xarelto, reduced the likelihood of death following a heart attack. If approved, the new drug would create a major new market. Read the full story atBusinessweek.
B of A sells more China Construction Bank
In a move to boost its capital, Bank of America (NYS: BAC) , will sell the majority of its remaining interest in China Construction Bank for $6.6 billion in cash to an undisclosed group of investors. Read more atReuters.
That's a wrap
So there you have it -- the top financial stories for this morning. If you are interested in getting all the news and commentary on these stocks, sign up to My Watchlist here --it's free!
- Add VeriFone Systems to My Watchlist.
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- Add Bank of America to My Watchlist.
At the time this article was published Fool contributor Tamara Rutter does not own shares of any of the companies mentioned in this column. Follow her on Twitter @TamaraRutter. The Motley Fool owns shares of Bank of America, Johnson & Johnson, and IBM. Motley Fool newsletter services have recommended buying shares of Johnson & Johnson and Goldman Sachs, as well as creating a diagonal call position in Johnson & Johnson. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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