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Wall Street Breakfast

Amazon, Meta back Trump inauguration

Wall Street Breakfast

Seeking Alpha

Business News, News, Business, Investing

4.11K Ratings

🗓️ 13 December 2024

⏱️ 6 minutes

🧾️ Download transcript

Summary

Amazon, Meta donating $1M each to Trump inauguration as Big Tech seeks better ties. (00:21) EVgo surges after securing $1.25B loan facility from U.S. Department of Energy. (01:47) RH soars after saying it defied the worst housing market in 30 years. (02:44)

Episode transcripts seekingalpha.com/wsb.

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Transcript

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0:00.0

Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

0:08.0

Good morning. Today is Friday, December 13th. I'm Julie Morgan. Amazon and Meta go big for Trump.

0:15.8

EV-Go powers up and RH shines amid a housing decline. Amazon and META are donating $1 million each to

0:24.7

Donald Trump's inauguration fund, according to multiple media reports. Amazon will also air the

0:30.6

January 20th event on Prime Video, which represents a separate in-kind donation worth another $1 million.

0:38.0

Meta's donation followed its CEO Mark Zuckerberg's private meeting with Trump at the Mar-a-Lago resort,

0:44.3

while Amazon founder Jeff Bezos will meet Trump next week.

0:48.3

The donations come as Trump has repeatedly pledged to end Big Tech censorship and protect free speech. Big tech companies are also

0:56.0

currently facing several antitrust lawsuits and regulatory scrutiny over AI deals. If you remember,

1:03.0

Bezos, who owns the Washington Post blocked the newspaper from endorsing any candidate during the

1:08.6

presidential election to avoid a perception of bias.

1:12.6

During his first term, Trump criticized Bezos' ownership of the newspaper and its coverage

1:17.6

of his administration. And at a recent event, Bezos said he's very optimistic about Trump's second

1:23.9

term. Zuckerberg committed to remain neutral this election cycle. This made the

1:28.8

president elect soften his stance on the tech leader after years of accusing META of censoring

1:34.0

conservative views on its social media platforms. Amazon donated about $58,000 to Trump's 2017 inaugural

1:42.2

fund, while META reportedly did not donate back then.

1:47.2

EVGO is up nearly 10% pre-market after saying it closed a $1.25 billion loan facility from the

1:54.6

U.S. Department of Energy to support the nationwide deployment of 7,500 high power fast-charging stalls. Evie Go said the build-out

2:03.4

would raise its total owned and operated network to at least 10,000 fast-charging stalls,

2:09.6

allowing the company to more than triple its network footprint by 2029. The loan, which was

2:15.4

made under the DOE's Title 17 Clean Energy Financing Program follows

...

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