STOCK EXCHANGES: Wall Street opened inconsistently – Twitter stock well below Musk’s offer

Wall Street stock exchanges opened up today. Of the key stock indices, the Dow Jones was up 0.9 percent, the S&P 500 was up 0.3 percent and the Nasdaq was down 0.2 percent.

Technology Billionaire Elon Musk has made a takeover bid for a community service From Twitter. The offer is $ 54.20 per share, with yesterday’s closing price of $ 45.85. The total value of Twitter would be $ 43 billion. However, the offer is well below last year’s top prices on Twitter. At the beginning of last year, the stock peaked at over $ 77

Indeed, Twitter’s stock price was well below Musk’s offer of $ 46.92, up just 2.3 percent from yesterday. This anticipates that the offer is not expected to go through.

Today, their first results have been reported by big banks like Goldman Sachs, Morgan Stanley, Citibank and Wells Fargo. With the exception of Wells Fargo, the value of bank shares multiplied by its earnings was up about 2–3 percent.

Wells Fargo’s net sales fell short of analyst expectations, while others outperformed expectations. The bank’s share price was down 6 percent.

Of the S&P 500 sectors, the decline was in communications with streaming service Netflix and gaming companies Electronic Arts and Take-Two Interactive were down about one percent.

The energy sector was on the rise. The price of crude oil has risen modestly recently as the war of aggression in Russia continues. The Brent oil grade cost $ 107 this afternoon.

By Editor

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