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New Delhi, Dynamic Cables Ltd has posted a 59 per cent rise in net profit at Rs 11.38 crore during the April-June quarter on account of higher income. The company had clocked a net profit of Rs 7.17 crore during the corresponding period of the preceding 2022-23 fiscal, the company said in a regulatory filing on Monday. The company's total income also rose to Rs 182.14 crore in the quarter under review, from Rs 158.51 crore in the year-ago quarter, a rise of 16 per cent. In a separate statement, company's Managing Director Ashish Mangal said, "We have reported strong numbers in the first quarter of FY24. The growth was driven by healthy demand for our products across domestic and export markets. "We foresee a healthy business environment and long-term demand growth for power cables driven by multiple macro tailwinds." During the April-June period, the Earnings before interest, taxes, depreciation, and amortization (EBITDA) margin was at 11.3 per cent, as compared to 9 per cent in the same quarter of the previous year, the company said. As on June 30, the company's order book was at Rs 394 crore. Dynamic Cables Ltd has three manufacturing units in Rajasthan, where it manufactures power infra cables that includes LT, HT, EHVC, power control and instrumentation cables, flexible and industrial cables, solar cables and railway signalling cables.

Small cap multibagger Dynamic Cables Q1 2023-24 net profit grows 59%

<ul class="summary-list"><li>Earnings likely grew for the fifth consecutive quarter in Q3.</li><li>Top strategists are eyeing 2025 results ahead of what's likely a mid-single-digit advance.</li></ul>Corporate earnings are on pace for their best non-pandemic year since 2018, and market strategists expect the party to continue in the upcoming earnings season and into 2025.Interest rates and inflation have been investors' primary concerns this year, and <a target="_blank" href="https://www.businessinsider.com/labor-market-indicators-recession-warning-signs-bca-research-berezin-2024-9">worries about the labor market</a>, <a target="_blank" href="https://www.businessinsider.com/economy-jobs-report-sentiment-consumers-elections-recession-inflation-mortgage-rates-2024-9">growth</a>, and <a target="_blank" href="https://www.businessinsider.com/rates-pandemic-lows-inflation-supply-chain-geopolitical-bofa-mensah-2024-10">rising geopolitical tensions</a> have also sucked up plenty of oxygen — even though economists generally agree that a recession isn't imminent.Through all that noise, S&amp;P 500 profits have steadily risen and are set to end the year up 9.5%, <a target="_blank" class="" href="https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_092724.pdf">according to Factset</a>. That's the biggest jump for earnings in six years, other than 2021's robust recovery. Analysts believe 2025 will be even better, with growth of nearly 15% in the cards.<div type="image" title="2024 earnings as of Q2" height="822" width="1424" msid="113984264" hostid="261" sizebytes="55446"></div>Business Insider spoke with six investment chiefs, strategists, and money managers about the earnings and economic trends to watch in the Q3 earnings season and 2025 — plus how investors can position their portfolios for success.<h2 id="cb45912e-0004-415b-94ba-d8fc7736b77e">Q3 earnings will give clues about consumers</h2>Barring a major surprise, investors will learn starting in mid-October that earnings rose for the fifth straight quarter. Profits grew 4.6% in Q3, <a target="_blank" class="" href="https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_092724.pdf">according to Factset's latest projections</a>, though that would be down substantially from the 7.8% mark that analysts called for at the end of June.However, analysts have a <a target="_blank" href="https://www.chicagobooth.edu/review/why-do-analysts-low-ball-earnings-forecasts">habit of underselling earnings</a>. Nearly 79% of S&amp;P 500 firms beat Q2 estimates — partially due to a low bar, though results were quite strong at 11.2% growth.<div type="image" title="Factset beat rate Q2 2024" height="822" width="1424" msid="113984261" hostid="261" sizebytes="37156"></div>"What we've seen over the past few quarters, I really wouldn't describe as 'blowout growth' that sets up for disappointment going forward," said Mike Reynolds, Glenmede's vice president of investment strategy. Mid-single-digit to low-double-digit growth is "pretty sustainable," he added.<div type="image" title="Factset Q2 2024" height="822" width="1424" msid="113984259" hostid="261" sizebytes="29018"></div>Profit margins will be in the crosshairs since <a target="_blank" href="https://www.businessinsider.com/inflation-august-consumer-price-index-federal-reserve-rate-cuts-2024-9">inflation is slowing</a>, said Anthony Saglimbene, the chief market strategist at Ameriprise Financial. He's also keeping a close eye on signs about the strength of consumer spending, or lack thereof, <a target="_blank" href="https://www.businessinsider.com/inflation-wage-growth-investing-strategy-stocks-to-buy-goldman-sachs-2024-9">as wage growth dissipates</a>."There's been a lot of pricing power — not only in technology, but across a lot of the services and goods sides of the equation," Saglimbene said. "Can you hold profit margins in an environment where maybe your costs are becoming more stable, but demand is starting to slow?"Demand is either softening or steadfast, depending on your perspective. Joe Quinlan — who's head of markets strategy at Merrill and Private Bank, Bank of America — recently remarked that there's a strikingly wide gap between high-income households and those who aren't well off.The strategy chief recently wrote that a mere 4.4% of US households make up 15% of personal consumption, which is the <a target="_blank" href="https://fred.stlouisfed.org/series/DPCERE1Q156NBEA">backbone of GDP</a>. The rich are disproportionately driving economic growth because of the wealth effect, which means they're confident since stocks are rising. Meanwhile, Quinlan noted that <a target="_blank" href="https://news.gallup.com/poll/266807/percentage-americans-owns-stock.aspx">roughly 40% of US households don't own stocks</a>."They're the ones — the lower-income households — definitely feeling the squeeze of higher prices. I know inflation has come down when we look at the metrics, but prices for food, rent, insurance — they're still elevated," Quinlan said, adding that this is limiting disposable income.Although weakness among lower-income households is troubling, strategists don't think it will show up in corporate earnings since consumers broadly are holding up."The consumer is pretty healthy," Reynolds said. "There's maybe some warning signs on the margin on credit-card balances and delinquencies, but it's really not enough to break the camel's back on earnings."<h2 id="e9ed5200-3a27-426c-b63a-a65a628a84e6">Why earnings will thrive in 2025</h2>Although investors have only seen about half of 2024 earnings, which are on track to rise 10%, it's already time to look to 2025."As the year continues, I do think it's not about earnings for this year — it's the trajectory of earnings for next year," said Andrew Slimmon, a lead portfolio manager at Morgan Stanley Investment Management.<div type="image" title="Factset 2024 earnings" height="822" width="1424" msid="113984262" hostid="261" sizebytes="29164"></div>Corporate profits should stay strong and can potentially improve, strategists say, provided that the US economy doesn't slow too much."If the macroeconomic picture holds together, there's an expectation that we should see a bit of a re-acceleration in earnings growth," said Jim Baird, chief investment officer at Plante Moran Financial Advisors.Quinlan agrees and predicted that "earnings will reflect the dynamic and resiliency of the US economy that we just closed the quarter on."Michael Smith, the head of the growth equity team at Allspring Global Investments, said his research also indicates that companies are healthy, at least compared to a few years ago."We talk to our companies quite frequently and do our own work talking to their customers and suppliers, and we really feel like there are still some pockets of strong demand through our economy," Smith said.And even if economic growth comes in light, corporate earnings won't necessarily suffer."There's not always a one-for-one relationship between economic growth and earnings growth," Reynolds said. "You can still see earnings growth at a pretty robust level, even if economic growth moderates to some extent. So again, there's correlation there, but definitely not direct causation."Bears have <a target="_blank" href="https://www.businessinsider.com/stock-market-crash-bubble-sp500-outlook-valuations-1929-2000-hussman-2024-9">long warned that this market is overvalued</a>, but unless earnings suddenly plummet, Slimmon suggested that those fears are overstated."As long as Q3 of this year is OK, I think that's where we're going to start next year with close to $280 earnings estimates for the S&amp;P," Slimmon said. "And that is supportive of a stock market that trades kind of closer to 6,000."Analysts' estimates may be ambitious, Saglimbene said. He suspects that Q4 expectations will recede alongside projections for Q1 and Q2 of 2025, though that often happens before quarters."That could be a little bit of a headwind for the market," Saglimbene said. "But again, if we're growing and profits are growing year-over-year, I think the market will look past some of that."Saglimbene later added: "We might not grow by 15% next year in an environment where the economy's growing 2%, but we might grow 7% or 8%. That's a normal earnings growth kind of environment, and I think that's enough to continue to push the market higher."<h2 id="06369d93-53a3-422f-8a02-436b2da92292">3 top places to invest heading into Q3 earnings</h2>When asked which parts of the market look most attractive, strategists consistently identified three sectors: communication services, healthcare, and technology.Large-cap growth stocks have carried the market higher for years thanks to their supercharged earnings. But that has changed in recent months, Saglimbene noted.The strategy chief expects to see broader profit growth, especially in economically sensitive sectors like consumer discretionary, financials, industrials, materials, and real estate. They may also have more upside since they're cheaper."The areas that have not seen the best profit growth, like cyclicals outside of technology, their profit growth trends could actually improve more than expected because the economy is not headed for recession, because growth is remaining positive, because consumers are still spending," Saglimbene said.Smith agrees that industrials and consumer-focused sectors are worth a look, as are tech and healthcare companies. His investing strategy is centered around finding growth stocks on the so-called "right side of change" that also happen to be discounted. He said he's found more opportunities in small- and <a target="_blank" href="https://www.businessinsider.com/stocks-to-buy-2025-mid-caps-investing-outlook-goldman-sachs-2024-9">mid-sized stocks</a> lately."Money has to find a home somewhere, and it tends to flow to where it gets treated the best," Smith said. "Right now, the relative opportunity is down-cap."

Here's how to invest in the Q3 earnings season as profits re-accelerate despite misplaced recession myths

<ul class="summary-list"><li>The Federal Reserve delivered on Morgan Stanley's best-case scenario for rate cuts last week.</li><li>Morgan Stanley is now looking ahead at the perfect mixture of conditions for a strong fourth quarter.</li></ul>The Federal Reserve nailed the rate-cut scenario that Morgan Stanley called its <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/best-case-scenario-stock-market-outlook-fed-rate-cut-ms-2024-9">best-case result</a> leading into the decision. Now it's up to the labor market whether the firm can get its ideal fourth-quarter setup.Heading into last week's announcement, Morgan Stanley was looking for a 50-basis-point cut that didn't also stoke worries about unnecessary growth. That ended up playing out, and stocks ripped higher to records the next day.Now, in new research, Morgan Stanley's chief US equity strategist Mike Wilson is outlining what has to take place for a similar strong fourth quarter."A drop in the unemployment rate and strong payroll data (without downward revisions) is likely the most risk-on signal for equities in 4Q," he wrote. "Such a development can counter seasonal weakness in earnings revisions and election-related volatility — 2 important dynamics the market faces over the next month and a half."Job market deterioration was a major factor in the Fed's decision to cut by half a point. In reducing rates this much, the central bank seeks to stave off any potential labor-led slowdown and ensure support for the economy.Incoming payrolls data will gauge its success. With September's figures set for release on October 4th, Morgan Stanley outlined three main outcomes to expect:The best scenario is if unemployment drops below 4.1% and non-farm payrolls reach above 150,000. In this case, the market could see a sustained rotation into cyclical equities as investors take on more risk appetite.Depending on future rate cuts, other benefactors include small caps, industrials, consumer discretionary and housing stocks.The worst-case scenario occurs if unemployment rises above 4.3% and non-farm payrolls fall below 100,000. This would be a risk-off outcome, giving defensive equities the upper hand.Alternatively, the jobs report could stay at current levels. This mixed outcome offers no obvious risk level, though large-cap quality stocks could generally outperform.Bank of America similarly highlighted that labor reports are now the biggest market movers <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-most-important-daysstock-market-between-now-and-election-2024-9?_gl=1*i7qn1n*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyNzE3OTAwMi42NDQuMC4xNzI3MTc5MDAyLjYwLjAuMA..">ahead of the election</a>. Stock options are pricing in over 1% moves on the S&amp;P 500 for October 4th, in whichever direction.To be sure, job conditions are not the only thing Morgan Stanley is watching. Also of interest are earning revisions, manufacturing data, and the Conference Board Leading Economic Indicators and Employment Trends index."Bottom line, the Fed's larger than expected rate cut can buy more time for high quality stocks to remain expensive and even help lower quality stocks to find some support; however, the labor and other growth data now likely needs to improve in order to justify these conditions through year end," Wilson wrote.

Morgan Stanley outlines the best-case scenario for stocks in the 4th quarter

Mumbai (Maharashtra) [India], August 8 (ANI): <keyword id="64190" type="General" weightage="100" keywordseo="RBI-Governor" source="Orion">RBI Governor</keyword> <keyword id="6359111" type="General" weightage="20" keywordseo="Shaktikanta-Das" source="Orion">Shaktikanta Das</keyword> says <keyword id="19895000" type="General" weightage="20" keywordseo="inflation" source="keywords">inflation</keyword> will moderate from July onwards as the monsoon has improved and <keyword id="489239" type="General" weightage="20" keywordseo="Global-food-prices" source="Orion">global food prices</keyword> have shown signs of easing in July. Das said, "Global food prices showed signs of easing in the month of July after registering an increase since March 2024." A degree of relief in food inflation is expected from the pickup in southwest monsoon and healthy progress in Kharif sowing. Buffer stocks of cereals continue to be above the norms, according to RBI Governor Shaktikanta Das. Das added, "Assuming a normal monsoon and taking into account the 4.9 per cent inflation print, Q1 CPI inflation for the current financial year (2024-25) is projected at 4.5 per cent, with q2 at 4.4 per cent, Q3 at 4.7 per cent and Q4 at 4.3 per cent. CPI inflation for the first quarter of next financial year (Q1 2025-26) is projected at 4.4 per cent." The inflation landscape reflects mixed signals, to which Das said, "<keyword id="21258540" type="General" weightage="20" keywordseo="headline-inflation" source="keywords">Headline inflation</keyword> eased up to 5.1 per cent in June 2024 due to higher than expected food inflation. Fuel remained in deflation for the 10th consecutive month. Core inflation moderated to a historic low in the months of May and June." RBI Governor Shaktikanta Das, outlined the <keyword id="19900794" type="General" weightage="20" keywordseo="economic-growth" source="keywords">economic growth</keyword> with real <keyword id="19972825" type="General" weightage="20" keywordseo="GDP-growth" source="keywords">GDP growth</keyword> of 7.2 per cent for the fiscal year 2024-25 and headline inflation eased to 5.1 per cent in June, on Thursday. Das said, "Real GDP growth for 2024-25 is projected at 7.2 per cent with Q1 at 7.1 per cent, Q2 at 7.2 per cent, Q3 at 7.3 per cent and Q4 at 7.2 per cent. Real GDP growth for Q1 2025-26, this is something which we are giving for the first time, is projected at 7.2 per cent. The risks are evenly balanced." He added, "We have slightly moderated the <keyword id="387719" type="General" weightage="20" keywordseo="growth-projection" source="Orion">growth projection</keyword> for the first quarter of the current financial year in relation to the projection we gave in the previous MPC in June. This is primarily due to updated information on certain high-frequency indicators which show lower than anticipated corporate profitability, general government expenditure and core industries output." This forecast marks a slight moderation from previous estimates provided in the Monetary Policy Committee (MPC) meeting in June, attributed to recent updates on high-frequency indicators such as corporate profitability, general government expenditure, and core industries output. The inflation landscape reflects mixed signals, to which Das said, "Headline inflation eased up to 5.1 per cent in June 2024 due to higher than expected food inflation. Fuel remained in deflation for the 10th consecutive month. Core inflation moderated to a historic low in the months of May and June." Balancing robust growth projections with a nuanced understanding of inflation dynamics Governor Das stated, "Food inflation which has a weight of around 46 per cent in the CPI basket, contributed to more than 75 per cent of headline inflation in May and June. Vegetable prices increased sharply and contributed about 35 per cent to inflation in June. High inflation pressures persisted across other major food items also." Governor Das mentioned softening in core inflation continues to be broad-based with core services inflation touching a new low in the current CPI series during the month of May and June 2024. Das stated, "The high food price momentum likely to have continued in the month of July also. Large favourable base effects may however push headline inflation downwards in July. The Impact of the revision in milk prices mobile tariffs also needs to be carefully monitored." A degree of relief in food inflation is expected from the pickup in south west monsoon and healthy progress in Kharif sowing. Buffer stocks of cereals continue to be above the norms, according to RBI Governor Shaktikanta das. Das anticipates some relief in food inflation due to the expected pickup in the southwest monsoon and healthy progress in Kharif sowing. Buffer stocks of cereals remain above the normative levels, contributing to a more stable food price environment. Global food prices, which have been on an upward trajectory since March 2024, showed signs of easing in July.

RBI Governor Shaktikanta Das projects 7.2% GDP growth for 2024-25, reports eased inflation to 5.1% in June

<ul class="summary-list"><li><keyword id="11915967" type="UNKNOWN" weightage="60" keywordseo="warren-buffett" source="Orion">Warren Buffett</keyword>'s <keyword id="11915968" type="UNKNOWN" weightage="60" keywordseo="berkshire-hathaway" source="Orion">Berkshire Hathaway</keyword> bet big on <keyword id="11896548" type="UNKNOWN" weightage="60" keywordseo="citigroup" source="Orion">Citigroup</keyword> and <keyword id="12020584" type="UNKNOWN" weightage="60" keywordseo="chevron" source="Orion">Chevron</keyword> last quarter.</li><li>The investor's company exited <keyword id="11982627" type="UNKNOWN" weightage="60" keywordseo="wells-fargo" source="Orion">Wells Fargo</keyword>, and virtually eliminated its Verizon stake.</li></ul>Warren Buffett's <a href="https://markets.businessinsider.com/stocks/brk-b-stock?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Berkshire Hathaway</a> placed billion-dollar wagers on several companies, ramped up some positions and slashed others, exited a historic holding, and even dabbled in merger arbitrage in the <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-citigroup-paramount-verizon-q2-stock-portfolio-2022-5">first quarter</a>.<h2>Here are 5 key takeaways from Berkshire's latest portfolio update:</h2><h2>1. Switching banks</h2>Berkshire revealed a new stake in Citigroup valued at $2.9 billion, as well as a $390 million bet on Ally Financial. On the other hand, it sold the last of its Wells Fargo shares; it <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-cuts-wells-fargo-stake-17-years-2020-9-1029566739">once commanded</a> a $29 billion stake in the bank, and counted it among its five largest holdings.Buffett and his team have overhauled their financial holdings during the pandemic. For example, they <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-sold-goldman-sachs-jpmorgan-bank-stocks-2021-5-1030450343">exited</a> JPMorgan and Goldman Sachs in the summer of 2020, and <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-bank-of-america-stock-portfolio-gain-2021-10">piled $2.1 billion</a> into Bank of America in the space of 12 days around the same time, cementing the bank's place as Berkshire's number-two holding after Apple.The Berkshire chief <a href="https://markets.businessinsider.com/currencies/news/warren-buffett-charlie-munger-berkshire-hathaway-annual-meeting-live-updates-2021-5-1030373616?utm_medium=ingest&amp;utm_source=markets">explained last year</a> that he felt his company was overexposed to banks when the pandemic hit, and while the US government would bail out the banks if the financial system froze, it was up to Berkshire to take care of itself.Berkshire's new bet on Citigroup could indicate that Buffett is bullish on certain banks once again.<h2>2. Betting on oil</h2>Berkshire roughly quadrupled its Chevron stake last quarter, raising it from 38 million shares to 159 million. The energy company's stock surged 39% in the period, helping to boost the value of Berkshire's position by almost six-fold to $26 billion.Buffett's company also <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-oxy-stock-occidental-petroleum-energy-oil-2022-3">invested north of $7 billion</a> in <keyword id="13314211" type="UNKNOWN" weightage="60" keywordseo="occidental-petroleum" source="Orion">Occidental Petroleum</keyword> last quarter, and <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-occidental-petroleum-stock-berkshire-hathaway-energy-prices-speculation-2022-5">boosted its position</a> by another 5% this quarter. Meanwhile, shares of the oil-and-gas group are up 106% this year. The upshot is that Berkshire's stake is now worth about $9.8 billion.Buffett and his team may be bullish on energy <keyword id="11893878" type="UNKNOWN" weightage="60" keywordseo="stocks" source="Orion">stocks</keyword> because they expect fuel prices to stay high, driven by a combination of Russia's invasion of Ukraine, pandemic-driven disruptions to global supply chains, rebounding demand, and rampant inflation.<h2>3. Playing an old game</h2>Berkshire more than quadrupled its Activision Blizzard stake to over 64 million shares, worth $5.2 billion at the end of March.Buffett <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-activision-blizzard-berkshire-hathaway-stock-microsoft-acquisition-95-2022-4?utm_medium=ingest&amp;utm_source=markets">revealed</a> during his recent shareholders' meeting that he had purchased a bunch of Activision Blizzard shares, as he determined they were trading at too large a discount to Microsoft's agreed offer of $95 for the company.The investor may well have added to the position in recent weeks. He said during the annual meeting on April 30 that Berkshire owned 9.5% of Activision Blizzard, whereas it only owned 8.2% at the end of March.Buffett also joked that his business partner, Charlie Munger, often wonders why he's "fooling around with this stuff." The Berkshire CEO attributed his behavior to being an "old fire horse," or someone who keeps up an old habit.<h2>4. Getting out</h2>Berkshire <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-invest-chevron-verizon-stocks-q4-portfolio-2021-2-1030089309">built a massive stake</a> in Verizon in the second half of 2020. It owned $8.3 billion of the stock at the end of last year, making the telecoms group one of its 10 largest holdings. However, Buffett's company sold more than 99% of that position last quarter.Similarly, Berkshire <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-invests-pfizer-merck-abbvie-pharmaceutical-stocks-2020-11-1029808269">built stakes</a> valued at more than $2 billion in each of AbbVie, Merck, and Bristol Myers Squibb in the second half of 2020. It <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-q3-stocks-floor-decor-royalty-pharma-2021-11">dumped Merck</a> in the third quarter of last year, and exited the other two pharmaceutical companies last quarter.Buffett may have had second thoughts about his pharma holdings. He <a href="https://www.businessinsider.com/warren-buffett-80-billion-headache-dilemma-expensive-stocks-businesses-deals-2021-5?r=US&amp;IR=T">appeared to describe them</a> last year as "so-so" stocks that he didn't know a great deal about, and wasn't too comfortable owning. As for Verizon, he may have decided the energy sector had brighter prospects than the telecoms industry.<h2>5. Embracing media</h2>Berkshire built a $2.6 billion stake in Paramount Global — formerly known as ViacomCBS — last quarter. The media behemoth owns Paramount Pictures, a film-and-TV studio; CBS Entertainment, which owns the CBS and CW television networks; cable-TV networks including MTV, Nickelodeon, and Showtime; and the Paramount+ streaming service.Buffett and his team have a long history of media investments, ranging from The Washington Post Company to The Buffalo News, to an <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-made-20-billion-mistake-by-selling-disney-twice-2019-8-1028484967">early bet on Disney</a>. However, Buffett said in a <a href="https://buffett.cnbc.com/video/2013/05/06/buffett-sees-gradual-improvement-in-economy-full-interview.html?&amp;start=3582">CNBC interview in 1996</a> that he largely avoids betting on media giants such as Viacom and CBS, as he's unsure which ones will emerge as winners of a fast-changing industry in a decade's time.It's unclear why Buffett, or perhaps one of his deputies, decided to bet on Paramount last quarter. Hopefully, it becomes clear in the coming months.Read more: <a href="https://www.businessinsider.com/warren-buffett-berkshire-hathaway-pandemic-inflation-sees-dq-brooks-borsheims-2022-5?r=US%3DT&amp;utm_medium=ingest&amp;utm_source=markets">We interviewed the CEOs of 4 of Warren Buffett's most iconic businesses. Here are their 16 best quotes about the investor, Berkshire Hathaway's ownership, and navigating the pandemic and inflation.</a>

Warren Buffett's Berkshire Hathaway bet on Citigroup, loaded up on Chevron, and dumped Verizon. Here are 5 key takeaways from its Q1 portfolio update.

<ul class="summary-list"><li><keyword id="12019330" type="UNKNOWN" weightage="60" keywordseo="snap" source="Orion">Snap</keyword>, <keyword id="11892744" type="UNKNOWN" weightage="60" keywordseo="twitter" source="Orion">Twitter</keyword>, and <keyword id="12003362" type="UNKNOWN" weightage="60" keywordseo="pinterest" source="Orion">Pinterest</keyword> fell Thursday after <keyword id="11892960" type="UNKNOWN" weightage="60" keywordseo="facebook" source="Orion">Facebook</keyword> parent <keyword id="12416504" type="UNKNOWN" weightage="60" keywordseo="meta" source="Orion">Meta</keyword>'s earnings miss rattled social media <keyword id="11893878" type="UNKNOWN" weightage="60" keywordseo="stocks" source="Orion">stocks</keyword>.</li><li>Snapchat's owner tumbled as much as 19%, while Twitter and Pinterest lost more than 7%.</li></ul><a href="https://markets.businessinsider.com/stocks/snap-stock">Snap</a>, <a href="https://markets.businessinsider.com/stocks/twtr-stock">Twitter</a>, and <a href="https://markets.businessinsider.com/stocks/pins-stock">Pinterest</a> dropped sharply in regular trading Thursday after Facebook parent <a href="https://markets.businessinsider.com/news/stocks/facebook-stock-price-meta-q4-earnings-mark-zuckerberg-tiktok-revenue-2022-2">Meta's fourth-quarter earnings</a> failed to meet Wall Street analysts' expectations.Social-media heavyweight Meta's stock was last down 23.5% at $246.95 a share, after reporting its user numbers fell for the first time ever.Facebook's daily active users dropped to 1.93 billion, lower than the average of 1.95 billion that analysts had been expecting. Metaverse-related <a href="https://www.businessinsider.com/facebooks-metaverse-business-completely-misses-wall-street-expectations-reality-labs-2022-2">losses came in at $10 billion</a>, and Meta forecast lower-than-expected revenue for the first quarter.Thursday's decline <a href="https://markets.businessinsider.com/news/stocks/facebook-stock-price-meta-q4-earnings-mark-zuckerberg-tiktok-revenue-2022-2">wiped out $230 billion</a> from Facebook's market value, in its worst one-day loss since its stock market debut in May 2012. Meta's earnings shock triggered a slide in social media stocks, with Snap tumbling as much as 19%. Twitter and Pinterest each fell 6% at the market open.Social media wasn't the only sector that got hurt. <a href="https://markets.businessinsider.com/stocks/amzn-stock">Amazon</a> lost 6% ahead of its own results on Thursday. Google parent <a href="https://markets.businessinsider.com/stocks/googl-stock">Alphabet</a> recovered after initially dropping in the premarket session.The size and reach of Meta, a major bellwether for tech players, likely points to a future recovery for the stock, analysts said. But investors who don't trade on long-term outlook are likely to lose enthusiasm for it.Short interest in Meta as of Thursday stood at $9.2 billion, equal to about 1.2% of the company's float, according to data from S3 Partners. Market participants had hoped techs' recent poor form would prove to be a temporary upset, said Susannah Streeter, senior investment and <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> analyst at Hargreaves Lansdown."But now, investors are bracing for another round of pummelling as fears rise again about the prospects of tech stocks which have been the darlings of Wall Street," she added.Futures on the Nasdaq dropped 2.3% on Thursday, reflecting the weight of Meta on the tech-heavy index."From time-to-time Meta messes up its shareholder communications in a big way, and its fourth-quarter earnings yesterday was one of those times," Martin Garner, CCS Insight analyst, said.Garner said Meta is wrestling five big issues: <a href="https://www.businessinsider.com/facebook-results-show-apple-privacy-changes-damaging-snap-twitter-pinterest-2022-2?cx_testId=5&amp;cx_testVariant=cx_1&amp;cx_artPos=5&amp;post-bottom-piano-recommendations#cxrecs_s">Apple's privacy changes</a> in 2021 are hurting its ad sales, user growth has slowed sharply, and users shifting their content posting to short-form video."Meta is a long way behind TikTok on short-form video; and — at the same time — Meta is investing billions of dollars in the metaverse," he added.Garner said CEO <keyword id="11896062" type="UNKNOWN" weightage="60" keywordseo="mark-zuckerberg" source="Orion">Mark Zuckerberg</keyword> tried to reassure shareholders that Facebook always comes out stronger. But TikTok's strength and speed of growth as a competitor ushers a new dynamic for the company: that of "real competition in a core product area."Read More: <a href="https://www.businessinsider.com/fine-wine-investing-how-to-get-started-and-beat-equities-vinovest-2022-2?r=US&amp;IR=T" target="_blank" rel="noopener noreferrer">A 27-year old entrepreneur who's been backed by Mark Cuban and Peter Thiel set up an AI-powered platform for fine wine investing. He explains how anyone can get started in this asset class that has crushed the stock market — as well as the 5 hottest types of wine right now</a>

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Warren Buffett's Berkshire Hathaway bet on Citigroup, loaded up on Chevron, and dumped Verizon. Here are 5 key takeaways from its Q1 portfolio update.

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