Dillard’s department store.

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Shares of Dillard’s gained 27% on Monday — at one point during the session jumping more than 40% — after one of Warren Buffett’s investing lieutenants disclosed a personal stake in the embattled retailer.

According to filings with the Securities and Exchange Commission, Ted Weschler, who is an investment manager at Berkshire Hathaway, bought roughly 1.08 million shares of Dillard’s, or about 5.89% of shares outstanding.

The Friday filing shows that Weschler topped the 5% threshold on Sept. 29. The filing noted that the shares will be held in a trust on behalf of Weschler’s family members.

Shares of Dillard’s are down more than 40% this year amid lackluster sales. In the latest quarter, however, the retailer reported a much smaller-than-expected quarterly loss thanks to inventory and cost control measures. Revenue, however, came up short.

Weschler, along with Buffett’s other protege, Todd Combs, have been responsible in recent years for steering Berkshire into some winning bets in the technology sector.

Weschler joined Berkshire Hathaway in early 2012 after spending a total of $5.3 million for two meals with Buffett through Buffett’s annual “Power Lunch” charity auction.

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NASHVILLE, Tenn. (AP) — Tennessee general manager Jon Robinson has a very personal stake in keeping the Titans safe during the coronavirus pandemic. He hopes people around the NFL understand he has tried to do everything the right way.

His oldest daughter, Taylor, has several auto-immune issues, including Type 1 diabetes and rheumatoid arthritis.

“We try to do everything we can to protect her and keep her safe because exposing her to this, it would be really, really serious for her,” Robinson said Monday.

Robinson noted that’s why the Titans worked hard to follow all protocols to protect everyone connected with the franchise. Still, the Titans wound up with the NFL’s first COVID-19 outbreak, with a total of 24 players and personnel testing positive since Sept. 24.

No, the Titans (3-0) have not heard from the NFL or the players union on any punishment, and Robinson said whether discipline is warranted is not for him to decide. He has heard some of the calls for heavy punishment for a team that has had two games rescheduled because of the outbreak.


“We’ve been extremely transparent with both groups with our situation as they try to piece things together,” Robinson said of the NFL and the NFL Players Association. “So that we can put some things in place that this doesn’t happen again.”

Asked if this outbreak was preventable, Robinson said he’s wracked his brain trying to figure out what happened. Learning more details about the incubation period also has been “eye opening.”

“All it takes is as a small window of opportunity, it seems, for this thing to find its way in and have an impact,” Robinson said.

The Titans added buses for their trip to the Nashville airport and in Minnesota on Sept. 26 after outside linebackers coach Shane Bowen

  • Shares of Dillard’s jumped more than 40% on Monday after one of Warren Buffett’s investing lieutenants disclosed a personal stake in the embattled retailer.
  • Ted Weschler, who is an investment manager at Berkshire Hathaway, bought roughly 1.08 million shares of Dillard’s, or about 5.89% of shares outstanding.



Dillard's department store.


© Provided by CNBC
Dillard’s department store.

Shares of Dillard’s jumped 45% on Monday after one of Warren Buffett’s investing lieutenants disclosed a personal stake in the embattled retailer.

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According to filings with the Securities and Exchange Commission, Ted Weschler, who is an investment manager at Berkshire Hathaway, bought roughly 1.08 million shares of Dillard’s, or about 5.89% of shares outstanding.

The Friday filing shows that Weschler topped the 5% threshold on Sept. 29. The filing noted that the shares will be held in a trust on behalf of Weschler’s family members.

Shares of Dillard’s are down more than 40% this year amid lackluster sales. In the latest quarter, however, the retailer reported a much smaller-than-expected quarterly loss thanks to inventory and cost control measures. Revenue, however, came up short.

Weschler, along with Buffett’s other protégé Todd Combs, have been responsible in recent years for steering Berkshire into some winning bets in the technology sector.

Weschler joined Berkshire Hathaway in early 2012 after spending a total of $5.3 million for two meals with Buffett through Buffett’s annual “Power Lunch” charity auction.

Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.

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  • Shares of Dillard’s jumped 15% during premarket trading on Monday after one of Warren Buffett’s investing lieutenants disclosed a personal stake in the embattled retailer.
  • Ted Weschler, who is an investment manager at Berkshire Hathaway, bought roughly 1.08 million shares of Dillard’s, or about 5.89% of shares outstanding.



Dillard's department store.


© Provided by CNBC
Dillard’s department store.

Shares of Dillard’s jumped 15% during premarket trading on Monday after one of Warren Buffett’s investing lieutenants disclosed a personal stake in the embattled retailer.

Loading...

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According to filings with the Securities and Exchange Commission, Ted Weschler, who is an investment manager at Berkshire Hathaway, bought roughly 1.08 million shares of Dillard’s, or about 5.89% of shares outstanding.

The Friday filing shows that Weschler topped the 5% threshold on Sept. 29. The filing noted that the shares will be held in a trust on behalf of Weschler’s family members.

Shares of Dillard’s are down more than 40% this year amid lackluster sales. In the latest quarter, however, the retailer reported a much smaller-than-expected quarterly loss thanks to inventory and cost control measures. Revenue, however, came up short.

Weschler, along with Buffett’s other protégé Todd Combs, have been responsible in recent years for steering Berkshire into some winning bets in the technology sector. Weschler joined Berkshire Hathaway in early 2012 after spending a total of $5.3 million for two meals with Buffett through Buffett’s annual “Power Lunch” charity auction.

Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.

Continue Reading

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New York City Faces Severe Financial Crisis Amid COVID-19 Pandemic

Photographer: Spencer Platt/Getty Images

Neuberger Berman’s Dyal Capital Partners bought a minority stake in Veritas Capital, a private equity firm with more than $20 billion of assets under management, according to people with knowledge of the matter.

Veritas, run by Ramzi Musallam, invests in companies that are related to government services. That includes aerospace, defense, energy, national security and health care, according to its website. Dyal’s stake is about 10%, one of the people said.

Dyal is extending a deal streak after raising its fourth and largest fund last year, at $9 billion. Its fifth fund is expected to be around the same size, said the people, who asked not to be identified discussing private investments. The new fund is nearing its first close at the end of October, one of the people said. The Neuberger unit competes with Blackstone Group Inc. and Goldman Sachs Group Inc. in the business of taking stakes in asset managers.

Dyal has more than $20 billion under management and stakes in firms including Silver Lake, Vista Equity Partners and Starwood Capital Group.

Veritas raised its first institutional fund in 1998 and has made more than 100 acquisitions. Its assets have grown from about $2 billion at the end of 2012. The firm recently informed investors about the “passive” Dyal minority investment, the people said.

Prior to joining Veritas as a founding member, Musallam worked at a private equity group led by Jay Pritzker and Boston-based private equity firm Berkshire Partners. He started his career at JPMorgan Chase & Co.

Neuberger and Veritas representatives declined to comment.

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