|
|
Article: Stocks fall as Buffett deal brings modest comfort
- Article from:
- AP Online
- Article date:
- November 3, 2009
- Author:
CopyrightCopyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
|
Investors worried about the economic recovery drew only modest comfort from billionaire investor Warren Buffett's decision to buy one of the nation's largest railroads.
Buffett's Berkshire Hathaway said Tuesday it is paying $100 a share for Burlington Northern Santa Fe in a deal valuing the railroad at $34 billion.
Investors are on edge about unemployment and the stability of major financial firms in Europe.
Health care products maker Johnson & Johnson said it would cut up to 7 percent of its global work force and streamline its business structure to save up to $900 million next year.
In Europe, investors were unnerved by further efforts to restructure two of the ...