NEW YORK (Fortune) -- Big rate hike coming on Thursday. Oh my! Excited? Yeah, pass me a cold one.

BERKSHIRE HATHAWAY: Should be interesting to see how it trades today after Buffett's big announcement. Stock might drop because investors will be concerned that BRK (Charts) will be moving out of Warren Buffett's hands. Buffett addressed this issue in FORTUNE, saying he didn't think it would be an issue and that it might even be good for the stock since it would increase liquidity and might mean the stock will be added to the S&P 500. There are some great operating people at this company. If Berkshire stock does drop today, buy it. Any day is good day to buy Berkshire. Especially when it drops.

PHELPS DODGE: Did you see this? PD (Charts) is buying Inco AND Falconbridge (both big nickel producers) for $40 billion. It is the biggest mining deal ever. Ever! So the implications are big. To me this says that the folks who run Phelps in no way believe that the bull run by metals is over. And they are putting their money where their mouth is. And oh what money that is. I think PD, (I like calling 'em P-Diddy) will be a mover today - could be down - but over on the long it's a good one. Stock is down from near $100 to $82, and P/E is only about 11.

STEELCASE: SCS (Charts), one the world's largest makers of office furniture, reports earnings today. Some say the cycle has run its course here. Orders have been running at double digit growth for eight consecutive months, until April, when they climbed only 6 percent. An industry expert called this an anomaly. Stock has doubled over the past two years and is expensive. Is this where you really want to put your money down? On high-end chairs for your boss? I think not.

LOOSE CHANGE: The problem with the U.S. soccer team? How about not enough good players. As for England, it could keep on rolling ... just keep cool against Portugal.

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