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Warren Buffett’s dump the ‘big four’ airline stocks in April

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Paul Morigi/Getty Images for Fortune/Time Inc

Warren Buffett’s Berkshire Hathaway exited its positions in the “big four” airlines in April, the famed investor revealed at Berkshire Hathaway’s annual meeting on Saturday.

“It turned out I was wrong,” Buffett said about his decision to invest in American, Delta, United, and Southwest. The companies are well-managed and the CEOs “did a lot of things right,” he continued, but “the airline business … changed in a very major way.”

Berkshire’s first-quarter earnings revealed that it sold $6.1 billion in stock in April, without detailing what it sold. Buffett attributed that figure to Berkshire’s sale of its airline stocks.

Buffett explained the move by highlighting the airlines’ bailout deals with the US government. Their agreements include billions of dollars in loans that they will have to repay, as well as warrants that the Treasury can exercise to acquire their shares at a discount in the future. The warrant part of the deal was inspired by Buffett’s bailouts of Goldman Sachs and other companies during the financial crisis.

The investor also questioned whether people will fly as much in the next two or three years as they did last year. Even if passenger volumes bounce back to 70% or 80% of their pre-coronavirus levels, he said, the carriers will be left with “too many planes.”

“The future is much less clear to me,” Buffett said about the airline business.

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Alberta records 18 new COVID-19 cases and no new deaths – CBC.ca

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Alberta recorded 18 new COVID-19 cases and no additional deaths from the illness on Sunday.

The number of active cases in the province continued to drop, sitting at 584 as of Sunday. Hospitalization rates also remained low with 52 people in hospital and six in intensive care.

In total, 6,283 people have recovered from the illness in Alberta. The total number of deaths was 143. 

Most active COVID-19 cases continue to be found in the Calgary zone. Here’s a regional breakdown of cases:

  • Calgary zone: 440 active cases and 4,330 recovered;
  • South zone: 42 active cases and 1,184 recovered;
  • Edmonton zone: 69 active cases and 464 recovered;
  • North zone: 28 active cases and 202 recovered;
  • Central zone: two active cases and 95 recovered;
  • Three active cases and eight recovered cases in zones to be confirmed.

To date, 658 cases have an unknown exposure.

So far, 235,415 Albertans have been tested and labs have performed 260,365 tests, with 3,138 tests completed in the last 24 hours. Testing has been made available to any person without symptoms who wants to be tested.

Starting in early June, Albertans will also be able to get four free non-medical masks per person at all A&W, McDonald’s and Tim Hortons drive-thru locations in the province, while supplies last. They can ask for masks without having to purchase anything. 

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As May comes to a close, Alberta has 584 active cases of COVID-19 and 143 people have died – CTV News

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EDMONTON —
Alberta reported 18 new cases of COVID-19 on Sunday, bringing the total number of active cases to 584.

No additional deaths were reported.

There are currently 52 people in hospital; six of them are in intensive care.

The case breakdown across the province is as follows:

  • Calgary zone: 440 active cases and 4,330 recovered
  • South zone: 42 active cases and 1,184 recovered
  • Edmonton zone: 69 active cases and 464 recovered
  • North zone: 28 active cases and 202 recovered
  • Central zone: two active cases and 95 recovered
  • Three active cases and eight recovered cases in zones to be confirmed

There are currently 61 active cases in continuing care facilities in the province, and 659 people have recovered. A total of 109 residents have died.

In total, there have been 143 deaths in Alberta.

In the last 24 hours, there have been 3,138 tests completed.

As of May 31, 6,283 Albertans have recovered from COVID-19. 

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'The individual was likely infectious:' Officials warn of possible COVID-19 exposure at North Battleford Walmart – CTV News Saskatoon

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NORTH BATTLEFORD —
Health officials are warning people of a possible coronavirus exposure at the North Battleford Walmart.

The Saskatchewan Health Authority said a person who tested positive for COVID-19 visited the store when “the individual was likely infectious,” according to a news release.

Officials are advising people who were at Walmart on May 21, between 12 p.m. and 2 p.m. to immediately self-isolate if they have symptoms of the virus, and call the 811 health line to arrange for testing.

People who aren’t showing symptoms, but were at the store during this time period, should self-monitor for symptoms of COVID-19 until June 5.

Symptoms of the virus include fever, dry cough, fatigue and shortness of breath.

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