Twitter Reconsiders Musk Bid

April 25, 2022

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Twitter Reconsiders Musk Bid

Believe it or not, Twitter (NYSE: TWTR) is reportedly re-examing Elon Musk’s $43 billion takeover offer, according to The Wall Street Journal on Sunday.

Details: Twitter was expected to reject the offer, but is now reportedly more open to the deal because Musk has secured financing.

Background: Musk placed a $43 billion bid to take over the social media platform earlier in April. Twitter responded with a shareholder rights plan known as a “poison pill” to stop the takeover. Other players have also expressed interest in financing part of the deal. It’s all part of a weeks-long battle between Musk and Twitter.

Nothing Official: As of now, Twitter has not publicly said that they are reviewing Musk’s deal.

Numbers: Shares of Twitter are down 21% in the past six months, but are also up 26% in the past 30 days, largely due to the takeover talk.

Final Thoughts: Twitter will release earnings Thursday and could discuss the potential bid at that point. Keep in mind that social media rival Snapchat (NYSE: SNAP) reported negative earnings last week due to macro challenges, which could also impact Twitter’s earnings.

Notables

Notable Earnings Today: Coca-Cola (NYSE: KO), Whirlpool (NYSE: WHR), Activision Blizzard (Nasdaq: ATVI), Packaging Corp. of America (NYSE: PKG), Otis Worldwide (NYSE: OTIS), Zions Bancorp (Nasdaq: ZION), Koninklijke Philips (NYSE: PHG), Dorman Products (Nasdaq: DORM), Crane (NYSE: CR), Bank of Hawaii (NYSE: BOH), Ameriprise Financial (NYSE: AMP), Lennox International (NYSE: LII), Cadence Design Systems (Nasdaq: CDNS), Bank of Marin (Nasdaq: BMRC), HBT Financial (Nasdaq: HBT), Hexcel (NYSE: HXL), Community Bank System (NYSE: CBU), W.R. Berkley (NYSE: WRB), Alexandria Real Estate Equities (NYSE: ARE), Axalta Coating Systems (NYSE: AXTA), O-I Glass (NYSE: OI), PotlatchDeltic (Nasdaq: PCH), SBA Communications (Nasdaq: SBAC).

Notable IPOs Today: N/A.

Notable Equity Crowdfunding Campaigns Ending Today: HEVO (Republic), American Gothic Pizza (Honeycomb), Rojo’s Futures (MicroVentures), Chow420 (StartEngine), FilmHedge (MicroVentures), Pacific Integrated Energy (StartEngine), Konnected (StartEngine), Unbanked (Republic).

Notable Economic Events Today: N/A.

Apple Supplier Foxconn Halts Production in China

Photo by blocks / Unsplash

Foxconn Technology (TPE: 2354), a manufacturer who is known for assembling iPhones for Apple (Nasdaq: AAPL), has suspended operations at two plants in China, according to the South China Morning Post on Sunday.

Details: Production at two Foxconn factories in the eastern city of Kunshan has been suspended since Wednesday due to a Covid-19 outbreak.

Background: This production delay could really strain Apple’s supply chain in China, which has already been under pressure due to the pandemic and other supply issues.

Final Thoughts: Apple will likely address the factory suspensions during its earnings call on Thursday.

History of Chia, a Cryptocurrency

The cryptocurrency Chia is one of the most popular digital coins since its inception.

Founding: The Chia network dates back to 2017 when coder Bram Cohen, the inventor of BitTorrent, launched the eco-friendly crypto.

Ledger: The ledger for Chia came out in 2021, thus inviting new investors. The network has since raised millions.

Final Thoughts: There’s also talk about the company behind Chia going public as early as 2022.

Trends to Watch

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