Wall Street Breakfast December 19: Twitter Users Vote Elon Musk Out

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 19 December 2022

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

Wall Street says retail sales show more Scrooge than Santa. Elon Musk loses Twitter leadership poll with majority saying he should step down. L3Harris (LHX) confirms deal to acquire Aerojet Rocketdyne (AJRD) for $4.7B. VF Corp. (VFC) evaluating sale of Jansport backpack business - report.

Transcript

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0:00.0	Welcome to Seeking Alpha's Wall Street Breakfast, your daily source of market news and analysis.
0:07.0	Subscribe to this podcast on Apple Podcast or Spotify.
0:11.0	Good morning. Today is Monday, December 19th, and I'm your host Julie Morgan.
0:16.2	Our top stories.
0:18.0	Retail cells are not looking great this holiday season.
0:21.4	Will Elon Musk step down as the CEO of Twitter?
0:24.6	L3 Harris is acquiring Aerojet Rocketdyne.
0:28.3	Too simple is cutting jobs. Is VF Corporation getting rid of Jan Sport?
0:34.0	Changes on the way at Activision Blizzard and the catalyst watch for the week.
0:39.0	Wall Street finished lower again on Friday,
0:42.0	although the major U.S. equity averages cut
0:44.4	their losses late in the day. Ongoing concerns about Federal Reserve policy
0:48.8	continued to apply downward pressure with stocks extending their losing streak to three
0:53.9	straight days. The NASDAQ finished down 1%. The S&P 500 closed down 1.1% and the
1:00.9	Dow ended down 0.9%.
1:04.0	All 11 S&P sectors finished the day lower.
1:07.0	Real estate led the retreat falling by 3%.
1:10.3	Utilities, Infotech, Healthcare, Energy, and Consumer Discretionary all dropped more than 1%.
1:18.0	In the earnings spotlight today, HICO and Steelcase. Now let's check in with Kim Khan he's the managing editor for
1:26.3	seeking Alpha and he has the catalyst watch for the week. He says the focus will be
1:31.7	on housing. Look at the economic calendar at the end of the week you've got the latest durable goods numbers.
1:38.0	You've also got personal spending and income which has the Fed's favorite inflation gauge, of course, the PCE price index.
	...

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