{"id":201832,"date":"2010-01-20T01:11:00","date_gmt":"2010-01-20T06:11:00","guid":{"rendered":"tag:blogger.com,1999:blog-3087194156628161158.post-1047038333397227712"},"modified":"2010-01-20T01:13:36","modified_gmt":"2010-01-20T06:13:36","slug":"cnbc-korean-steelmaker-posco-rallies-on-hopes-buffett-will-increase-stake","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/201832","title":{"rendered":"CNBC: Korean Steelmaker Posco Rallies on Hopes Buffett Will Increase Stake"},"content":{"rendered":"<p><!-- AddThis Button BEGIN --><\/p>\n<div class=\"fL tool_datetime clr\">Published:       <span class=\"cnbc_sbhd_comp\">Tuesday, 19 Jan 2010 | 6:05 PM ET <\/span><\/div>\n<div class=\"w100p clr cnbc_blgwlt_dot\" archive=\"urn:schemas-microsoft-com:workbench:xslt:archive\">\n<div class=\"padT\">\n<div class=\"fR tool_textsize\"><span class=\"cnbc_sbhd_comp fL padR\"><br \/><\/span><\/div>\n<\/div>\n<\/div>\n<div class=\"w100p clr cnbc_blgwlt_dot\" archive=\"urn:schemas-microsoft-com:workbench:xslt:archive\">\n<div class=\"w100p fL clr padT marB20\">\n<div class=\"fL clr padB20\">\n<div class=\"fL\"><span class=\"cnbc_sbhd_comp\">By: Alex Crippen<br \/>Executive Producer<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><a name=\"StoryImage\"><\/a><\/p>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span><\/p>\n<table style=\"padding: 5px 15px 0pt 0pt;\" align=\"left\" border=\"0\" cellpadding=\"0\" cellspacing=\"0\" width=\"1%\">\n<tbody>\n<tr>\n<td><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/media.cnbc.com\/i\/CNBC\/Sections\/News_And_Analysis\/_Blogs\/Warren_Buffett_Watch\/_DAILY%20POSTS\/Graphics\/100119_Posco-Center.jpg\" align=\"Left\" border=\"0\" height=\"278\" hspace=\"0\" vspace=\"0\" width=\"250\" \/><\/td>\n<\/tr>\n<tr>\n<td>\n<div class=\"credit\" style=\"text-align: right; margin-bottom: 5px;\">POSCO.com<\/div>\n<div class=\"credit\">The POSCO Center in Seoul, South Korea<\/div>\n<hr color=\"#c0c0c0\" noshade=\"noshade\" size=\"1\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>South Korean steelmaker POSCO closed almost 5 percent higher at $136.02 in New York trading today (Tuesday), after the company said Warren Buffett wants to buy more shares.<\/p>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span>Current <b><strong><a href=\"http:\/\/www.investorwords.com\/120\/ADR.html\"><strong>ADR<\/strong><\/a><\/strong><\/b> price: <span id=\"WSODQ_COMPONENT_PKX_ID0EPFAC15839609\"><script type=\"text\/javascript\">cnbc_comboQuoteMove('popup_PKX_ID0EPFAC15839609');<\/script><span id=\"span_quote_PKX_ID0EPFAC15839609\" style=\"text-decoration: none;\" onmouseover=\"cnbc_spanTipPopShow('combo_popup_PKX_ID0EPFAC15839609',this,'0','15');\" onmouseout=\"cnbc_spanTipPopTimeHide('combo_popup_PKX_ID0EPFAC15839609',this,'0','15');\"><a style=\"font-family: Arial; font-weight: bold; font-size: 12px; color: rgb(0, 66, 118); text-decoration: none;\" onmouseover=\"this.style.color='#Fc7410'\" onmouseout=\"this.style.color='#004276'\" href=\"http:\/\/data.cnbc.com\/quotes\/PKX\" class=\"black_no_change\"><span id=\"set_quote_PKX_ID0EPFAC15839609\">[<\/span><span id=\"WSODQSTREAMOFF_PKX_SYMBOL_1_ID0EPFAC15839609\">PKX<\/span>    <span id=\"WSODQSTREAMOFF_PKX_LAST_1_ID0EPFAC15839609\">136.02<\/span>    <span id=\"WSODQSTREAMOFF_PKX_CHANGEARROW_1_ID0EPFAC15839609\"><img decoding=\"async\" src=\"http:\/\/media.cnbc.com\/i\/CNBC\/CNBC_Images\/componentbacks\/watchlist_up.gif\" border=\"0\" \/><\/span>      <span class=\"green_pos_change\" id=\"WSODQSTREAMOFF_PKX_DYNACOLOR0_1_ID0EPFAC15839609\"><span id=\"WSODQSTREAMOFF_PKX_CHANGE_1_ID0EPFAC15839609\">4.98<\/span>    <span id=\"WSODQSTREAMOFF_PKX_UNCHHIDE_1_ID0EPFAC15839609\" class=\"WSODQ_CHGSHOW\">(<span id=\"WSODQSTREAMOFF_PKX_CHANGEPCT_1_ID0EPFAC15839609\">+3.8%<\/span>)<span id=\"WSODQSTREAMOFF_PKX_FLASH_1_ID0EPFAC15839609\"><\/span><\/span><\/span>      <span><img decoding=\"async\" src=\"http:\/\/media.cnbc.com\/i\/CNBC\/CNBC_Images\/backgrounds\/realtime_icon.gif\" border=\"0\" \/><\/span>]<\/a><\/span><\/span><script type=\"text\/javascript\">         cnbc_quoteComponent_init_getData(\"PKX\",\"WSODQ_COMPONENT_PKX_ID0EPFAC15839609\",\"WSODQ\",\"true\",\"ID0EPFAC15839609\",\"off\",\"false\",\"inLineQuote\");         <\/script><\/p>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span>Buffett&#8217;s Berkshire Hathaway already owns 4.5 percent of POSCO.<\/p>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span>POSCO CEO Joon-Yang Chung met with Buffett yesterday during a visit to Berkshire&#8217;s Omaha headquarters.<\/p>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span>In a <b><strong><a href=\"http:\/\/www.reuters.com\/article\/idUSTOE60I03Y20100119\"><strong>statement emailed to reporters<\/strong><\/a><\/strong><\/b>, POSCO says Buffett told the CEO that he intends to buy more shares and regrets he didn&#8217;t increase the stake last year when the global economic crisis had pushed POSCO&#8217;s share price sharply lower.<\/p>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span>It&#8217;s almost tripled since its 2009 low in March of $47.09 to its recent high of $140 on January 11.  <b><strong><a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=conewsstory&amp;tkr=PKX%3AUS&amp;sid=a.ueBzbdba2E\"><strong>Bloomberg says<\/strong><\/a><\/strong><\/b> Berkshire may have a paper profit of over $1.3 billion on its POSCO holdings, which were disclosed for the first time in 2007.<\/p>\n<p><a name=\"StoryImage\"><\/a><\/p>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span><\/p>\n<table align=\"\" border=\"0\" cellpadding=\"0\" cellspacing=\"0\" width=\"1%\">\n<tbody>\n<tr>\n<td><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/media.cnbc.com\/i\/CNBC\/Sections\/News_And_Analysis\/_Blogs\/Warren_Buffett_Watch\/_DAILY%20POSTS\/Graphics\/100119_POSCO--Chart.gif\" border=\"0\" height=\"173\" hspace=\"0\" vspace=\"0\" width=\"486\" \/><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span>We don&#8217;t know how serious Buffett is about adding to the stake or when he might do it.  He may have just been trying to make polite conversation with his guest.<\/p>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span>We do know that it is very unusual for Buffett to talk publicly about his stock buying plans, and also unusual for him to buy when a stock is at an almost two-year high.<\/p>\n<p><a name=\"StoryImage\"><\/a><\/p>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span>Current Berkshire stock prices:<\/p>\n<table style=\"padding: 5px 0pt 0pt 15px;\" align=\"right\" border=\"0\" cellpadding=\"0\" cellspacing=\"0\" width=\"1%\">\n<tbody>\n<tr>\n<td>\n<map name=\"map23175096\">\n<area coords=\"0,0,300,80\" shape=\"rect\" alt=\"Berkshire Portfolio\" href=\"http:\/\/www.cnbc.com\/id\/22130601\/\"><\/map>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/media.cnbc.com\/i\/CNBC\/Sections\/News_And_Analysis\/_Blogs\/Warren_Buffett_Watch\/_DAILY%20POSTS\/Graphics\/080214_portfolio_tracker_badge.jpg\" usemap=\"http:\/\/feedproxy.google.com\/~r\/EverythingWarrenBuffett\/~3\/Y9us1EbRDCc\/cnbc-korean-steelmaker-posco-rallies-on.html#map23175096\" align=\"Right\" border=\"0\" height=\"80\" hspace=\"0\" vspace=\"0\" width=\"300\" \/><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span>Class A: <span id=\"WSODQ_COMPONENT_BRK.A_ID0E5PAC15839609\"><script type=\"text\/javascript\">cnbc_comboQuoteMove('popup_BRK.A_ID0E5PAC15839609');<\/script><span id=\"span_quote_BRK.A_ID0E5PAC15839609\" style=\"text-decoration: none;\" onmouseover=\"cnbc_spanTipPopShow('combo_popup_BRK.A_ID0E5PAC15839609',this,'0','15');\" onmouseout=\"cnbc_spanTipPopTimeHide('combo_popup_BRK.A_ID0E5PAC15839609',this,'0','15');\"><a style=\"font-family: Arial; font-weight: bold; font-size: 12px; color: rgb(0, 66, 118); text-decoration: none;\" onmouseover=\"this.style.color='#Fc7410'\" onmouseout=\"this.style.color='#004276'\" href=\"http:\/\/data.cnbc.com\/quotes\/BRK.A\" class=\"black_no_change\"><span id=\"set_quote_BRK.A_ID0E5PAC15839609\">[<\/span><span id=\"WSODQSTREAMOFF_BRK.A_SYMBOL_1_ID0E5PAC15839609\">BRK.A<\/span>    <span id=\"WSODQSTREAMOFF_BRK.A_LAST_1_ID0E5PAC15839609\">100030.00<\/span>    <span id=\"WSODQSTREAMOFF_BRK.A_CHANGEARROW_1_ID0E5PAC15839609\"><img decoding=\"async\" src=\"http:\/\/media.cnbc.com\/i\/CNBC\/CNBC_Images\/componentbacks\/watchlist_up.gif\" border=\"0\" \/><\/span>      <span class=\"green_pos_change\" id=\"WSODQSTREAMOFF_BRK.A_DYNACOLOR0_1_ID0E5PAC15839609\"><span id=\"WSODQSTREAMOFF_BRK.A_CHANGE_1_ID0E5PAC15839609\">2530.00<\/span>    <span id=\"WSODQSTREAMOFF_BRK.A_UNCHHIDE_1_ID0E5PAC15839609\" class=\"WSODQ_CHGSHOW\">(<span id=\"WSODQSTREAMOFF_BRK.A_CHANGEPCT_1_ID0E5PAC15839609\">+2.59%<\/span>)<span id=\"WSODQSTREAMOFF_BRK.A_FLASH_1_ID0E5PAC15839609\"><\/span><\/span><\/span>      <span><img decoding=\"async\" src=\"http:\/\/media.cnbc.com\/i\/CNBC\/CNBC_Images\/backgrounds\/realtime_icon.gif\" border=\"0\" \/><\/span>]<\/a><\/span><\/span><script type=\"text\/javascript\">         cnbc_quoteComponent_init_getData(\"BRK.A\",\"WSODQ_COMPONENT_BRK.A_ID0E5PAC15839609\",\"WSODQ\",\"true\",\"ID0E5PAC15839609\",\"off\",\"false\",\"inLineQuote\");         <\/script><\/p>\n<p><span id=\"byLine\"><\/span>Class B: <span id=\"WSODQ_COMPONENT_BRK.B_ID0EFFAE15839609\"><script type=\"text\/javascript\">cnbc_comboQuoteMove('popup_BRK.B_ID0EFFAE15839609');<\/script><span id=\"span_quote_BRK.B_ID0EFFAE15839609\" style=\"text-decoration: none;\" onmouseover=\"cnbc_spanTipPopShow('combo_popup_BRK.B_ID0EFFAE15839609',this,'0','15');\" onmouseout=\"cnbc_spanTipPopTimeHide('combo_popup_BRK.B_ID0EFFAE15839609',this,'0','15');\"><a style=\"font-family: Arial; font-weight: bold; font-size: 12px; color: rgb(0, 66, 118); text-decoration: none;\" onmouseover=\"this.style.color='#Fc7410'\" onmouseout=\"this.style.color='#004276'\" href=\"http:\/\/data.cnbc.com\/quotes\/BRK.B\" class=\"black_no_change\"><span id=\"set_quote_BRK.B_ID0EFFAE15839609\">[<\/span><span id=\"WSODQSTREAMOFF_BRK.B_SYMBOL_1_ID0EFFAE15839609\">BRK.B<\/span>    <span id=\"WSODQSTREAMOFF_BRK.B_LAST_1_ID0EFFAE15839609\">3332.00<\/span>    <span id=\"WSODQSTREAMOFF_BRK.B_CHANGEARROW_1_ID0EFFAE15839609\">&#8212;<\/span>      <span class=\"\" id=\"WSODQSTREAMOFF_BRK.B_DYNACOLOR0_1_ID0EFFAE15839609\"><span id=\"WSODQSTREAMOFF_BRK.B_CHANGE_1_ID0EFFAE15839609\">UNCH<\/span>    <span id=\"WSODQSTREAMOFF_BRK.B_UNCHHIDE_1_ID0EFFAE15839609\" class=\"WSODQ_UNCHHIDE\">(<span id=\"WSODQSTREAMOFF_BRK.B_CHANGEPCT_1_ID0EFFAE15839609\">0<\/span>)<span id=\"WSODQSTREAMOFF_BRK.B_FLASH_1_ID0EFFAE15839609\"><\/span><\/span><\/span>      <span><img decoding=\"async\" src=\"http:\/\/media.cnbc.com\/i\/CNBC\/CNBC_Images\/backgrounds\/realtime_icon.gif\" border=\"0\" \/><\/span>]<\/a><\/span><\/span><\/p>\n<p><a name=\"comments\"><span style=\"font-weight: bold;\"><br \/><\/span><\/a><\/p>\n<p><a name=\"comments\"><span style=\"font-weight: bold;\">Share Investor Links<\/span><\/a><a name=\"comments\"><\/a><\/p>\n<p><a href=\"http:\/\/www.shareinvestorblog.com\/\">Share Investor Blog<\/a> &#8211; Stockmarket &amp; Business commentary<br \/><a href=\"http:\/\/shareinvestornz.blogspot.com\/2007\/02\/new-zealand-business-news.html\">Share Investor New Zealand Business News<\/a>&#8211; Get more business news<br \/>Discuss this topic @<a href=\"http:\/\/www.shareinvestorforum.com\/\"> Share Investor Forum<\/a> &#8211; <a href=\"http:\/\/shareinvestorforum.com\/ucp.php?mode=register&amp;sid=450a61250472e03fa25c205c9c1723f1\"><strong>Register<strong><\/strong><\/strong><\/a> free<br \/><a href=\"http:\/\/www.currency-market.blogspot.com\/\">Share Investor&#8217;s Daily Forex Updates<\/a><\/p>\n<p><span style=\"font-weight: bold;\">Recommended Amazon Reading<\/span><\/p>\n<table id=\"searchResults\" cellspacing=\"0\">\n<tbody>\n<tr class=\"clsOdd\">\n<td class=\"tdimage\"><a href=\"http:\/\/astore.amazon.com\/shareinvestorbookstore-20\/detail\/0966446127\"><img decoding=\"async\" src=\"http:\/\/ecx.images-amazon.com\/images\/I\/315%2BfrL4YuL._SL75_.jpg\" alt=\"The Essays of Warren Buffett: Lessons for Corporate America, Second Edition\" \/><\/a><\/td>\n<td class=\"tddescription\"><a href=\"http:\/\/astore.amazon.com\/shareinvestorbookstore-20\/detail\/0966446127\">The Essays of Warren Buffett: Lessons for Corporate America, Second Edition<\/a> by <span class=\"by\">Warren E. Buffett<\/span><br \/>Buy new:        $26.01       \/ Used from:        $26.00<br \/><span class=\"availability\">Usually ships in 24 hours<\/span><\/td>\n<\/tr>\n<tr class=\"clsEven\">\n<td class=\"tdimage\"><a href=\"http:\/\/astore.amazon.com\/shareinvestorbookstore-20\/detail\/1416573186\"><img decoding=\"async\" src=\"http:\/\/ecx.images-amazon.com\/images\/I\/41ZkoqL3OTL._SL75_.jpg\" alt=\"Warren Buffett and the Interpretation of Financial Statements: The Search for the Company with a Durable Competitive Advantage\" \/><\/a><\/td>\n<td class=\"tddescription\"><a href=\"http:\/\/astore.amazon.com\/shareinvestorbookstore-20\/detail\/1416573186\">Warren Buffett and the Interpretation of Financial Statements: The Search for the Company with a Durable Competitive Advantage<\/a> by <span class=\"by\">Mary Buffett<\/span><br \/>Buy new:        $16.47       \/ Used from:        $15.69<br \/><span class=\"availability\">Usually ships in 24 hours<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><iframe loading=\"lazy\" border=\"0\" marginheight=\"0\" marginwidth=\"0\" src=\"http:\/\/rcm.amazon.com\/e\/cm?t=sharinve-20&amp;o=1&amp;p=7&amp;l=ez&amp;f=ifr&amp;f=ifr\" style=\"border: medium none ;\" frameborder=\"0\" height=\"40\" scrolling=\"no\" width=\"260\"><\/iframe><script type=\"text\/javascript\">var addthis_pub=\"shareinvestor\";<\/script><\/p>\n<div id=\"TixyyLink\" style=\"border: medium none ; overflow: hidden; color: rgb(0, 0, 0); background-color: transparent; text-align: left; text-decoration: none;\"><\/div>\n<p><script type=\"text\/javascript\">var addthis_pub=\"shareinvestor\";<\/script> <!-- AddThis Button END --><\/p>\n<div class=\"blogger-post-footer\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1811166043296468\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 60;\ngoogle_ad_format = \"468x60_as\";\ngoogle_ad_type = \"image\";\ngoogle_ad_channel =\"\";\n\/\/--><\/script><br \/>\n<script type=\"text\/javascript\"\n  src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><img width='1' height='1' src='https:\/\/blogger.googleusercontent.com\/tracker\/3087194156628161158-1047038333397227712?l=everythingwarrenbuffett.blogspot.com' alt='' \/><\/div>\n<p><a href=\"http:\/\/feedads.g.doubleclick.net\/~a\/E2ZaEksEbdU74623LJzI72b902M\/0\/da\"><img decoding=\"async\" src=\"http:\/\/feedads.g.doubleclick.net\/~a\/E2ZaEksEbdU74623LJzI72b902M\/0\/di\" border=\"0\" ismap=\"true\"><\/img><\/a><br \/>\n<a href=\"http:\/\/feedads.g.doubleclick.net\/~a\/E2ZaEksEbdU74623LJzI72b902M\/1\/da\"><img decoding=\"async\" src=\"http:\/\/feedads.g.doubleclick.net\/~a\/E2ZaEksEbdU74623LJzI72b902M\/1\/di\" border=\"0\" ismap=\"true\"><\/img><\/a><\/p>\n<div class=\"feedflare\">\n<a href=\"http:\/\/feeds.feedburner.com\/~ff\/EverythingWarrenBuffett?a=Y9us1EbRDCc:MbpNuE1Pwk8:yIl2AUoC8zA\"><img decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~ff\/EverythingWarrenBuffett?d=yIl2AUoC8zA\" border=\"0\"><\/img><\/a>\n<\/div>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/EverythingWarrenBuffett\/~4\/Y9us1EbRDCc\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Published: Tuesday, 19 Jan 2010 | 6:05 PM ET By: Alex CrippenExecutive Producer POSCO.com The POSCO Center in Seoul, South Korea South Korean steelmaker POSCO closed almost 5 percent higher at $136.02 in New York trading today (Tuesday), after the company said Warren Buffett wants to buy more shares. Current ADR price: [PKX 136.02 4.98 [&hellip;]<\/p>\n","protected":false},"author":833,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-201832","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/201832","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/833"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=201832"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/201832\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=201832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=201832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=201832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}