📉 Zuck’s only giving out Tootsie Rolls this Halloween
A day after reporting dismal earnings, Meta shares lost nearly a ...
A day after reporting dismal earnings, Meta shares lost nearly a quarter of their value, knocking it off the list of the 20 most valuable US companies. Since Meta’s stock peaked in September 2021, it’s tumbled 74%, equivalent to more than $730 billion in market cap going poof. And CEO Mark Zuckerberg’s fortune has shrunk by more than $100 billion in the last 13 months.
📈 Mortgage rates haven’t been this high in 20 years
The rate for a 30-year, fixed-rate loan ...
The rate for a 30-year, fixed-rate loan topped 7% yesterday for the first time since April 2002. Mortgage rates have more than doubled this year in tandem with rising Treasury yields, sending what had been a red-hot housing market into reverse. Now, you’ll pay about $710 more a month on a $300,000 mortgage than you would have if you secured one in January.
Elon Musk completes Twitter purchase, fires CEO and other top execs
Twitter Inc. is now owned by Elon Musk, with multiple media outlets reporting Thursday night that the...
Twitter Inc. is now owned by Elon Musk, with multiple media outlets reporting Thursday night that the long-anticipated sale had officially closed.
The Wall Street Journal, Washington Post and others reported, based on unnamed sources, that the top executives of Twitter TWTR, were fired and escorted from the building, including Chief Executive Parag Agrawal, Chief Financial Officer Ned Segal and Vijaya Gadde, head of legal policy, trust and safety.
The acquisition ends months of legal wrangling after Musk, the billionaire CEO of Tesla Inc. TSLA, +0.20% and SpaceX and a frequent Twitter user, offered to buy Twitter in April. After reaching an agreement with Twitter’s board to buy the social media company for $44 billion, Musk tried to back out of the deal and Twitter sued him. He faced a Friday deadline to complete the deal or face trial.
Benchmark U.S. crude oil for December delivery rose $1.17 to $89.08 a barrel Thursday. Brent crude for December delivery rose $1.27 to $96.96 a barrel.
Wholesale gasoline for November delivery rose 11 cents to $3.01 a gallon. November heating oilrose 21 cents to $4.33 a gallon. November natural gasfell 42 cents to $5.19 per 1,000 cubic feet.
Mammoth Energy Services reported third-quarter results Thursday. The company expects continued...
Mammoth Energy Services reported third-quarter results Thursday. The company expects continued strong demand in its three largest divisions.
Arty Straehla, chief executive of Mammoth said, "Our businesses exhibited strong performance in the third quarter with substantial revenue growth in all of our segments year-over-year, leading to significant net income and Adjusted EBITDA growth. We continue to experience strong demand environments across our three largest segments, Infrastructure Services, Well Completion services and our Sand Business.
