Wall Street Breakfast May 17: Twitter Falls as Musk says Deal Cannot Move Forward Until There is Bot Transparency

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 17 May 2022

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Twitter falls again as Musk says deal cannot move forward until there is bot transparency. Abbott and FDA agree on steps to reopen baby formula production plant. Microsoft to make huge compensation boost in effort to keep top talent. Catch today’s WSB article here.

Transcript

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0:00.0	Welcome to Seeking Alpha's Wall Street breakfast, your daily source of market news and analysis.
0:06.8	Subscribe to this podcast on Apple Podcast, Spotify or Stitcher.
0:11.1	Good morning. Today is Tuesday, May 17th, and I'm your host Julie Morgan.
0:15.6	Our top stories.
0:16.8	Twitter, Baby Formula and Microsoft.
0:20.1	Elon Musk says Twitter bots account for much more than what Twitter has released.
0:24.8	How much more and where does the $44 billion deal stand?
0:28.8	The baby formula shortage continues, what is the FDA doing to ease the pain for parents and their babies?
0:35.8	And Microsoft is making money moves.
0:38.2	How much more are they paying to keep top talent?
0:41.8	First, let's take a look at the market. The Dow Jones closed up
0:44.4	less than a tenth of a percentage point to close at 32-23. The S&P 500 down
0:50.0	16 to close at 4,000 8 and the NASDAQ down 142 at 1163. On to our day watch, the top
0:58.6	gainers, Zaris Bio Pharma Holdings up 29%, Griffin Corp 24%, Benson Hill gained 22%, applied
1:08.0	blockchain 21% and Urban One Class A up 20%.
1:13.2	The top losers, Forge Global Holdings Class A down 38%,
1:17.8	Iris Energy 37%,
1:20.3	S. QL Technologies lost 22% and Tough Built Industries also 22%.
1:27.0	The top gainers and losers at seeking Alpha.com.
1:31.0	We'll look at Dow S&P and NASDAQ futures in a few minutes as well as the world markets
1:36.8	Now on to our top stories you were possibly asleep at 332 this morning when Elon Musk sent a tweet that said 20% of Twitter's accounts are fake or
1:46.1	spam accounts and that the $44 billion deal to buy the social media site cannot move forward
	...

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