128.46 - 130.2165
113.39 - 155.81
Join Discuss about LEA with like-minded investors
By Katie Paul and Paresh Dave (Reuters) -Twitter Inc's new owner Elon Musk on Thursday raised the possibility of the social media platform going bankrupt, capping a chaotic day that included a warning from a U.S. privacy regulator and the exit of the company's trust and safety leader. The billionaire on his first mass call with employees said that he could not rule out bankruptcy, Bloomberg News reported, two weeks after buying it for $44 billion - a deal that credit experts say has left Twitter's finances in a precarious position. Earlier in the day, in his first company-wide email, Musk warned that Twitter would not be able to "survive the upcoming economic downturn" if it fails to boost subscription revenue to offset falling advertising income, three people who have seen the message told Reuters. Yoel Roth, who has overseen Twitter's response to combat hate speech, misinformation and spam on the service, resigned on Thursday, two people familiar with the matter told Reuters. In his Twitter profile on Thursday, Roth described himself as "Former Head of Trust & Safety" at the company. Roth did not respond to requests for comment. Bloomberg and tech site Platformer reported his exit first. Earlier on Thursday, Twitter's Chief Information Security Officer Lea Kissner tweeted that she had quit. Chief Privacy Officer Damien Kieran and Chief Compliance Officer Marianne Fogarty also resigned, according to an internal message posted to Twitter's Slack messaging system on Thursday by an attorney on its privacy team and seen by Reuters. Robin Wheeler, the company's top ad sales executive, told employees in a memo that she was staying at the company, a person who had seen the message said, diverging from earlier media reports that she too would be leaving. "I'm still here," Wheeler tweeted late on Thursday. The U.S. Federal Trade Commission said it was watching Twitter with "deep concern" after the three privacy and compliance officers quit. These resignations potentially put Twitter at risk of violating regulatory orders. Musk attorney Alex Spiro told some employees in an email late on Thursday that Twitter would remain in compliance. "We spoke to the FTC today about our continuing obligations and have a constructive ongoing dialogue," Spiro wrote. He stated that only Twitter, not individual employees, could be held liable against the orders. "I understand that there have been employees at Twitter who do not even work on the FTC matter commenting that they could (go) to jail if we were not in compliance - that is simply not how this works," he wrote. In his first meeting with many employees at Twitter on Thursday afternoon, Musk warned that the company may lose billions of dollars next year, the Information reported. Musk added in the email to workers that remote work would no longer be allowed and that they would be expected in the office for at least 40 hours per week. Twitter, Musk and Spiro did not respond to requests for comment on a potential bankruptcy, the FTC warning, or the departures. Musk ruthlessly moved to clean house after taking over on Oct. 27 and has said the company was losing more than $4 million a day, largely because advertisers started fleeing once he took over. Twitter has $13 billion in debt after the deal and faces interest payments totaling close to $1.2 billion in the next 12 months. The payments exceed Twitter's most recently disclosed cash flow, which amounted to $1.1 billion as of the end of June. Musk has begun charging $8 a month for the Twitter Blue service that will include a blue check verification. WARNING "We are tracking recent developments at Twitter with deep concern," Douglas Farrar, the FTC's director of public affairs, told Reuters. "No CEO or company is above the law, and companies must follow our consent decrees. Our revised consent order gives us new tools to ensure compliance, and we are prepared to use them," Farrar said. In May, Twitter agreed to pay $150 million to settle allegations by the FTC it misused private information, like phone numbers, to target advertising to users after telling them the information was collected only for security reasons. Twitter's privacy attorney on Thursday mentioned in the internal memo that Spiro had said that Musk was willing to take a "huge amount of risk" with the company. "Elon puts rockets into space, he's not afraid of the FTC," the attorney quoted Spiro as saying. Twitter's buyout has sparked concerns that Musk, who has often waded into political debates, could face pressure from countries trying to control online speech. It prompted U.S. President Joe Biden to say on Wednesday that Musk's "cooperation and/or technical relationships with other countries is worthy of being looked at." ADVERTISERS NOT REASSURED Musk told advertisers on Wednesday, speaking on Twitter's Spaces feature, that he aimed to turn the platform into a force for truth and stop fake accounts. His assurances may not be enough. Chipotle Mexican Grill (NYSE:CMG) said on Thursday it had pulled back its paid and owned content on Twitter "while we gain a better understanding on the direction of the platform under its new leadership." It joined other brands including General Motors (NYSE:GM) that have paused advertising on Twitter since Musk took over, concerned that he will loosen content moderation rules.
77 Replies 13 👍 7 🔥
Du' vanditi bbocca dentro 'na vanga. Lu primu se lea lu passamontagna. Quill'atru: "Ma che si scemu che te li lei?" Lu primu: "Ma se l'hi ditto tu...intrimo e facimoje vedé' chj simo". 😂😂😂 (Mario di Macerata)
66 Replies 6 👍 14 🔥
@DarkPoolAlgo #Dark Pool Charts
U.S. futures are holding steady, only moderately lower from yesterday’s closing all-time highs for the major averages as investors brace for the FOMC meeting, with results expected tomorrow afternoon. Bitcoin prices surging to highs, up over 4% around $63,400 in another broad spike for crypto assets; Ethereum +3.25% at $4,450. House Speaker Pelosi is planning to go ahead with plans to vote this week on President Biden’s two bills even though Democratic moderates are echoing Senator Manchin’s complaints that they don’t know full cost & economic impact. In corporate news, JNJ, TEVA, ENDP and ABBV win the first case for pharmaceutical companies in the four-year litigation over the drugs in a $50B opioid litigation case. In commodity prices, gold holds below $1,800, oil is little changed around $84 per barrel and Wheat hit $8.00 a bushel Monday, highest levels since 2012 as world reserves declined following extreme weather. The Aussie dollar drops and the curve bull steepens after the RBA scraps its April 2024 yield target and signals openness to earlier rate hikes. Tesla $TSLA falls over 4%, is falling off a record high close of $1,208.59 – follows tweet from CEO Musk overnight saying there has been no contract signed yet with Hertz and that the Hertz deal has zero effect on Tesla’s economic. Wall Street’s main indexes notched record closing highs again on Monday, adding to the big totals in October as Tesla $TSLA shares surged and the energy sector gained on rising oil prices while investors looked ahead to a major Federal Reserve meeting later in the week. The Dow Jones Industrial Average briefly eclipsed 36,000 points for the first time before slipping just below. Along with the barrage of earnings again this week, the Federal Reserve is expected to approve plans to scale back its $120 billion monthly bond-buying program on Wednesday. The small-cap Russell 2000 index was a standout, rising 2.7% for its biggest daily percentage gain since late August. Economic data was mixed as the ISM U.S. manufacturing activity slowed in October, with all industries reporting record-long lead times. In Asian markets, The Nikkei Index slipped -0.43% to 29,520, the Shanghai Index dropped -1.1% to 3,505, and the Hang Seng Index fell -0.22% to 25,099. In Europe, the German DAX is up +0.4% at 15,875, while the FTSE 100 declines around -0.6% below 7,250. Events Calendar for Today · 7:45 AM ET ICSC Weekly Retail Sales · 8:55 AM ET Johnson/Redbook Weekly Sales Earnings Calendar: · Earnings Before the Open: AME, APO, ARCB, AVNS, BBGI, BCC, BHC, BLD, BLMN, CEIX, CLW, CMI, COP, CRSR, CTLT, DD, EL, EPD, ESPR, ETN, EXLS, EXPD, EXTR, GNRC, GPN, HEES, HEP, HSC, HSIC, IART, IDXX, INCY, IPGP, IT, KKR, LCII, LDOS, LEA, LGIH, LPX, MIME, MLM, MMP, MPC, MPLX, MYGN, NRZ, NXST, NYMT, OMCL, PFE, PINC, RL, ROK, SABR, SAGE, SEE, TMX, TNC, UAA, VAL, WEC, WLK, XHR, XYL ZBRA · Earnings After the Close: ACT, AFG, AIZ, AKAM AMGN, ANDE, ATVI, AWK, AYX, BFAM, BGFV, BKH, BRY, BXC, CASA, CDK, CERS, CHK, COUR, CRK, CSLT, CZR, DCO, DCPH, DEI, DENN, DOX, DRRX, DVN, EGHT, EIX, ENLC, EXAS, EXEL, FMC, FNF, FRSH, GAIN, GNW, GPOR, HALO, HCC, HLF, HRB, HURN, INFI, INSP, KAI, KAMN, KAR, LPI, LSCC, LSI, LYFT, MANT, MDLZ, MG, MGNX, MOD, MRCY, MTCH, NP, NSA, OKE, OVV, PAA, PAGP, PAYC, PKI, PRO, PRTS, PRU, RAMP, RARE, RCKY, RM, RRR, SGRY, SKY, SRC, STE, TCS, TMUS, TVTY, UIS, UNM, VECO, VOYA, VRSK, WTTR, WU, ZG Other Key Events: · China Caixin Services PMI for October · Wolfe Research Wealth Symposium, 11/2-11/3 $virtual · Senator Manchin says he is prepared to support a Build Back Better plan that combats inflation, is fiscally responsible, and will create jobs. The plan the House is finalizing meets those tests-it is fully paid for, will reduce the deficit, and brings down costs for health care, child care, elder care, and housing
140 Replies 10 👍 6 🔥
47 Replies 6 👍 8 🔥
Next Earnings Date
Next Dividend Date
lear corporation is a leading global tier 1 automotive supplier that serves all of the world’s major automakers with content on more than 300 vehicle nameplates worldwide. lear is one of the world's largest suppliers of automotive seating and electrical distribution systems. lear provides complete seating systems and components, as well as both traditional and high voltage/high power electronic products and electrical distribution systems and components. with facilities in 35 countries on six continents, lear operates in every major auto producing region of the world. achieving $17.7 billion in 2014 sales, lear ranks #174 among the fortune 500. headquartered in southfield, michigan, lear's world-class products are designed, engineered and manufactured by a diverse team of more than 135,000 employees. lear shares are traded on the new york stock exchange under the symbol [lea].
CEO: Raymond Scott
HQ: 21557 Telegraph Rd Southfield, 48033-4248 Michigan