Before the Bell | Twitter stock plunges as Elon Musk says deal 'temporarily on hold'
Hey, mooers! Here are things you need to know before the opening bell:
Market Snapshot
Stock futures were higher early Friday morning as investors geared up for the S&P 500 to potentially slide into official bear market territory.
Futures on the $Dow Jones Industrial Average (.DJI.US)$ rose 0.86%, while $S&P 500 Index (.SPX.US)$ futures gained 1.29% and $Nasdaq Composite Index (.IXIC.US)$ futures were up 2.01%.
Top News
Tech Futures Rally After Bruising Trading Week
U.S. stock futures rose, suggesting markets could stage a relief rally at the end of a punishing week of losses across major indexes.
Senate Confirms Powell to Second Term Leading Fed
Jerome Powell's nomination, approved on an 80-19 vote, had been on track for months to win bipartisan approval despite unease over inflation.
Russian Oil Output Shrinks Under Western Pressure
The West's response to the invasion of Ukraine lowered Russia's crude-oil output by 9% in April and reshaped the global oil market as the country sought new buyers for its production, the International Energy Agency said.
Twitter Stock Plunges as Elon Musk Says Deal 'Temporarily on Hold'
The $Tesla (TSLA.US)$ CEO said Friday the Twitter deal was "temporarily on hold" pending a calculation related to the number of fake accounts on $Twitter (Delisted) (TWTR.US)$. Musk has said several times removing spammers and bots are important to increasing Twitter's value. If fake accounts represent more of Twitter's registered users than he originally believed Musk may want to renegotiate his price.
Affirm Reported Solid Q3 Results, Shares Soared in Pre-Market
$Affirm Holdings (AFRM.US)$ reported third-quarter revenue growth of 53.8% year-over-year to $354.8 million, beating the consensus of $344.03 million. Affirm said it expects revenue for the fiscal year of $1.33 billion to $1.34 billion, higher than its prior estimates of $1.31 billion. Analysts surveyed by FactSet expect revenue of $1.33 billion.
Roku's New Deal: Get Voice Remote Pro With Ultra Player At No Extra Cost
$Roku Inc (ROKU.US)$ announced Thursday that the Ultra would now be bundled with Voice Remote Pro, an upgraded version of its standard remote. The bundling will be done, beginning in mid-May.
Twitter Halts Hiring as Two Senior Executives Depart
Twitter Inc. is pausing hiring and looking to cut costs. Twitter Chief Executive Parag Agrawal announced the actions along with the surprise departure of two senior executives, according to an internal memo.
Terra 'Officially' Halts Blockchain as LUNA Hits Zero
Terra has officially stopped block production as the blockchain's native token hit a low of $0.000033 on Thursday.
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Key Events This Week
Source: CNBC, Dow Jones Newswires, Bloomberg, Benzinga
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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Mike and Lilly : Good time to buy the dip. You know this is going to 2X 0R even 3X
Giovanni Ayala :
witty Llama_cin : He managed to chase off 2 directors, caused chaos with Twitter staff and killed the Twitty Bird
BearishMichael : Elon is still “committed to acquisition” so we may have a reworking of the deal and the offer price might be lower than original
andy ni : Tell Brother Qi to be right again.
BCTL : Nice move... now he can pay Twitter with a even lower price...