Simon Property Group saw its stock retreat about 3% in the premarket despite better-than-expected numbers. The real estate property manager reported first-quarter earnings of $1.36 per share on revenues of $1.15 billion.
The Labor Department will on Tuesday publish the latest results of its Job Openings and Labor Turnover Survey. Several high-ranking Federal Reserve officials, including Governor Lael Brainard and New York Fed President John Williams, are also scheduled to deliver remarks.
The question of who would take over after Buffett has been a source of speculation for over 15 years. For years, it was assumed that Buffett’s successor would be David Sokol, who ran MidAmerican Energy, now called Berkshire Hathaway Energy, and NetJets for Berkshire. But Sokol left Berkshire in 2011 after it was disclosed he had taken on a $10 million stake in chemical company Lubrizol shortly before recommending Berkshire buy the company.
From Buffett’s perspective, Munger was simply acknowledging what has been a common practice for the board of directors. “We’ve always at Berkshire had basically a unanimous agreement as to who should take over the next day,” said Buffett. “The world’s paying more attention now.”