TL;DR

Buffett to step down as Berkshire CEO; Cisco and CoreWeave beat on AI; Dick’s eyes Foot Locker buyout.

Highlights

• Warren Buffett to step down as Berkshire Hathaway CEO on Jan 1, 2026; Greg Abel named successor, Buffett to remain chairman 1.
• Cisco beats Q3 FY25 estimates: $14.15B revenue (+11% YoY), $0.96 EPS, strong AI orders, raises FY guidance; shares up ~3% after hours 2.
• CoreWeave Q1 revenue surges 420% YoY to $982M, beats consensus; wider loss than expected, but guides above Street; shares jump 10% post-IPO 4.
• Dick’s Sporting Goods in advanced talks to acquire Foot Locker for $2.3B ($24/share, ~90% premium); Foot Locker stock jumps up to 80% late trading 3.
• 100,000 Bitcoin withdrawn from exchanges in 3 weeks; $300M shorts liquidated on Binance, supporting bullish sentiment 9.
• Iran signals readiness to sign new nuclear deal with Trump, pledging no nuclear weapons and uranium dismantling for sanctions relief 5.
• U.S. approves $304M sale of air-to-air missiles (AMRAAM, Sidewinder) to Turkey; RTX is principal contractor 7.
• Texas enacts SB 29 to attract business incorporations, accelerating 'Dexit' trend as Tesla and SpaceX reincorporate in-state 8.
• U.S. drug overdose deaths fell 27% in 2024 to 80,000, lowest since pre-Covid; sharp fentanyl-related decline 10.
• China and Mexico expand economic ties under Plan México; Walmart /Soriana to increase Mexican product sales, 100 CELAC projects announced 14.

Commentary

After the close, US traders saw key corporate and macro news with implications for several sectors. The formal timeline for Berkshire Hathaway ’s CEO transition—Buffett stepping down for Greg Abel in early 2026—removes succession uncertainty but may prompt investors to reassess Berkshire’s premium and risk profile, especially as Abel’s operational style comes under scrutiny 1.

Tech and AI infrastructure were in focus: Cisco ’s earnings and raised guidance, driven by robust AI networking demand, reinforce strength in enterprise IT spending 2. CoreWeave ’s explosive revenue growth and bullish guidance, despite a wider loss and heavy debt, highlight ongoing investor appetite for high-growth AI infrastructure, though balance sheet risks remain 4. The Dick’s–Foot Locker deal talk, with a near-90% premium, sparked sharp moves in both stocks and could spur further retail consolidation speculation, but also raises antitrust questions 3.

Bitcoin ’s continued outflow from exchanges and large-scale short liquidations reflect a bullish positioning shift, with supply tightening and forced buying driving price action 9. Traders should watch for signs of further accumulation or profit-taking by large holders.

Geopolitical headlines remain relevant: Iran’s willingness to negotiate a nuclear deal with Trump could ease some regional risk 5, but US arms sales to Turkey and ongoing unrest in Libya underscore persistent security concerns 7. The Texas ‘Dexit’ legislation and China–Mexico economic cooperation could influence longer-term trends in US corporate domiciles and supply chains, though immediate market impact is limited 814.

Overall, focus remains on AI/tech momentum, M&A activity in retail, and any market response to Berkshire ’s succession 1234. Crypto flows and geopolitical headlines are secondary but worth monitoring for volatility triggers.