Wall Street Breakfast October 27: Meta Platforms Dives

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 27 October 2022

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

Meta Platforms (META) dives amid profit miss, revenue warnings. GDP update expected to show the U.S. returned to growth in Q3. Vladimir Dimitrov breaks down the Intel (INTC) Mobileye (MBLY) IPO. Learn how to invest successfully with Alpha Picks 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 Thursday, October 27th,
0:14.2	and I'm your host Julie Morgan.
0:16.1	Our top stories.
0:17.5	Meta's earnings miss, Q3 GDP.
0:20.8	Argo AI is expected to shut down.
0:23.8	Phillips 66 is cutting staff.
0:26.4	Zillow is doing the same.
0:28.4	Twitter is delisting.
0:30.2	Tesla is under investigation.
0:32.4	And what does one seeking Alpha author think about Mobileai?
0:37.0	The major U.S. equity averages posted a mixed performance on Wednesday.
0:42.0	The NASDAQ finished down 2%. The S&P 500 ended down 0.7% and the Dow
0:47.8	closed just above the unchanged mark. The dollar dropped about 1% on the session.
0:53.0	Sector performance was mixed.
0:55.0	Communication services plunge 4.8%
0:58.0	while Infotech retreated 2.2%.
1:01.0	And the bond market, Treasury yields pushed lower again, adding to a downward move seen
1:06.3	the previous day. The 10-year Treasury yield retreated 8 basis points to 4.03%. While the two-year yield slip three basis points to 4.43 percent.
1:17.2	Daniel Jones is a contributor on seeking Alpha with the varying capital advisors, he said with earnings season still well underway.
1:25.0	Reactions to results from major companies are serving as many daily referendums
	...

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