So far, 2020 has been a reversal of fortunes for US stock markets. The Dow Jones Industrial Average fell 23.2% and recorded its worst first quarter ever.
Warren Buffett lagged the stock market returns last year by a wide margin. Meanwhile, he tends to outperform the S&P 500 during falling markets.
Gap stock has fallen during the trading session today. The company announced that it will withdraw its guidance, halt its dividend, and cut expenses.
Lululemon (NASDAQ:LULU) stock has fallen 4.9% as of 11:41 AM ET today. The company reported strong earnings for the fourth quarter of fiscal 2019 on March 26.
For 2020, Shopify expects its revenue to grow from $2.13 billion–$2.16 billion. Analysts expect revenue growth of 36.2% YoY to $2.2 billion in 2020.
The Dow Jones Index has recovered sharply over the last three days. The Index has risen more than 20%—the highest three-day returns since 1931.
Micron stock has risen around 6% in the pre-market trading session today. The company recorded better-than-expected second-quarter earnings.
Berkshire Hathaway is Kraft Heinz’s (NASDAQ:KHC) biggest shareholder. Chairman Warren Buffett admitted to a mistake in Kraft Heinz.
US stock markets have closed with gains for two consecutive days. However, the Dow Jones Index and the S&P 500 are still in the bear market territory.