Berkshire’s Buffett says would buy few tech stocks currently: BBG TV

Berkshire Hathaway Chairman and Chief Executive Warren Buffett said on Wednesday he would buy very few technology stocks at current levels and that the U.S. government should play a part in the housing market. The U.S. stock market has been hit with a wave of selling, particularly in high-growth stocks in the technology and biotechnology industries in recent weeks. Buffett also said the government should play a part in housing, and that the U.S. public would be better served with a government-guaranteed instrument "in the picture." He said he did not see any role for Berkshire Hathaway in mortgage financiers Fannie Mae and Freddie Mac.

Facebook Q1 revenue grows 72 percent on rising mobile ads

The Facebook logo is pictured at the Facebook headquarters in Menlo ParkBy Alexei Oreskovic SAN FRANCISCO (Reuters) - Facebook Inc's mobile advertising business accelerated in the first three months of the year, helping the Internet social networking company top Wall Street's financial targets. Shares of Facebook were up nearly 3 percent at $63.05 in after-hours trading on Wednesday. Facebook said that mobile ads represented 59 percent of its ad revenue in the first quarter, up from 30 percent in the year-ago period. Facebook's overall revenue grew 72 percent year-on-year to $2.5 billion in the first quarter, above the $2.36 billion expected by analysts polled by Thomson Reuters I/B/E/S. "They’ve got the right products for what advertisers are looking for and that’s manifesting itself in the results you’re seeing," said JMP Securities analyst Ronald Josey.


Apple expands buybacks by $30 billion, OKs 7-for-1 stock split

People wait on street in front of Apple store as they await sales of new iPad in Apple store in MunichBy Edwin Chan SAN FRANCISCO (Reuters) - Apple Inc has approved another $30 billion in share buybacks till the end of 2015 and authorized a rarely seen seven-for-one stock split, addressing calls to share more of its cash hoard while broadening the stock's appeal to individual investors. Activist investor Carl Icahn, who had famously called on the iPhone maker to boost its buyback program, tweeted his approval of the move on Wednesday. On Wednesday, Apple reported sales of 43.7 million iPhones in the quarter ended March, far outpacing the roughly 38 million that Wall Street had predicted. But whether Apple can again produce a revolutionary new product remains the central question in investors' and Silicon Valley executives' minds.


Facebook first revenue grows 72 percent on rising mobile ads

The Facebook logo is pictured at the Facebook headquarters in Menlo ParkBy Alexei Oreskovic SAN FRANCISCO (Reuters) - Facebook Inc's mobile advertising business accelerated in the first three months of the year, helping the Internet social networking company top Wall Street's financial targets. Shares of Facebook were up nearly 3 percent at $63.05 (37.57 pounds) in after-hours trading on Wednesday. Facebook said that mobile ads represented 59 percent of its ad revenue in the first quarter, up from 30 percent in the year-ago period. Facebook's overall revenue grew 72 percent year-on-year to $2.5 billion in the first quarter, above the $2.36 billion expected by analysts polled by Thomson Reuters I/B/E/S. "They've got the right products for what advertisers are looking for and that's manifesting itself in the results you're seeing," said JMP Securities analyst Ronald Josey.


Facebook 1Q results soar; CFO to step down

FILE - This Tuesday, July 16, 2013 file photo shows a sign at Facebook headquarters in Menlo Park, Calif. Facebook reports quarterly earnings on Wednesday, April 23, 2014. (AP Photo/Ben Margot, File)NEW YORK (AP) — Facebook's earnings nearly tripled and revenue grew sharply in the first quarter, surpassing Wall Street's expectations thanks to an 82 percent increase in advertising revenue.