Twitter CEO Elon Musk has updated his Twitter bio to ‘state-owned media’ after mentioning that it’s an appropriate label for the social media network.
Read here: Taliban officials buying Elon Musk’s Twitter blue tick paid verification: Report
A Twitter handle named Wall Street Silver on Sunday posted a query that asked whether some specific media handles should have a ‘state-affiliated media’ label like China Global Television Network’s account and others.
The tweet said, “Should certain media accounts also be tagged with similar labels? Based on the Twitter Files, we now know govt agencies control or influence legacy media and social media. USA state-affiliated media- @nytimes, @MSNBC, @facebook, @washingtonpost plus many others.”
In response to this, Musk replied, “Technically, Twitter should have that too.”
After this Musk tweeted, “Kudos to the BBC for self-labelling its state affiliation” and subsequently updated his twitter bio to “state-affiliated media” on Monday.
This move came after Journalist Matt Taibbi tweeted a set of “Twitter Files” on Saturday which emphasised on how some government figures tried to control the content on Twitter before Musk took over the platform for $44 billion.
As per the reports, state-owned media is defined as organisations where the state controls editorial content through financial resources, direct or indirect political pressures, and/or control over production and distribution.”
Read here: Elon Musk’s Tesla tweets controversy resurfaces, to face trial in US court
Ever since the SpaceX CEO took charge of the microblogging site Twitter, he introduced several modifications like $8 paid subscription of Twitter blue badge, gold and silver ticks, reinstating banned or controversial accounts.
I say thumbs up to MP Materials
RPC Inc: “I want you to hold [onto] it.”
Marvell Technology Inc: “You don’t want to buy until it reports. After it reports, we’re going to take a solid look at it. … If you do own it now, you’ll do just fine.”
Li Auto Inc: “Listen to [Tesla CEO] Elon Musk on the conference call. He likes the Chinese automakers. Who am I to go against the smartest man in the world?”
Strong earnings from Tesla and United Rentals helped market climb
CNBC’s Jim Cramer said that Thursday’s rally is thanks to a batch of strong company earnings.
“I’ve said over and over again that during earnings season, what matters is companies and the CEOs with the smarts to direct them,” he said.
Stocks rose on Thursday as investors digested the latest batch of earnings and new gross domestic product data showing the U.S. economy grew by a higher-than-expected 2.9% in the fourth quarter.
Cramer said that contrary to what many might believe, the economic data didn’t drive the trading session’s rallies.
“That’s a classic misdirection play — just totally wrong. It’s stale. It doesn’t count. We’re in earnings season, for heaven’s sake,” he said, adding, “Stocks did well today because many of them delivered good numbers.”
He went over several examples of corporate news and earnings reports that fueled Thursday’s gains:
“It’s very confusing if you’re on permanent negative autopilot because you only pay attention to the [Federal Reserve]. If you watched the individual companies, these moves would be a lot less surprising,” Cramer said.
Intel, Visa, Hasbro and more
The Intel Corporation logo is seen at a temporary office during the World Economic Forum 2022 (WEF) in the Alpine resort of Davos, Switzerland May 25, 2022.
Arnd Wiegmann | Reuters
Check out the companies making headlines in after-hours trading.
Intel — Shares of Intel plunged 8.2% after the company reported earnings that missed on the top and bottom lines. The company reported adjusted earnings of 10 cents per share on $14.04 billion in revenue where analysts expected 20 cents per share on revenue of $14.46 billion, per Refinitiv. Intel also gave weak guidance, forecasting a net loss in the first quarter.
Visa — Visa shares rose 1.5% after the company reported an earnings beat. The digital payments company reported adjusted earnings per share of $2.18 and $7.94 billion in revenue, more than Wall Street’s expectations of adjusted earnings of $2.01 per share and $7.70 billion in revenue, per Refinitiv.
Hasbro — Shares slid 7.8% after the toymaker announced it was cutting about 1,000 jobs, or 15% of its workforce. The company also warned of a weak fourth quarter.
KLA Corporation — Shares of KLA Corporation, a semiconductor manufacturer, shed 4.9% even though the company reported earnings that beat analysts’ expectations on the top and bottom lines, according to Refinitiv. The company gave a forward guidance that was weaker than expected for its fiscal third quarter, which weighed on shares.
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