Unusual Whales

The debt limit agreement decreases IRS funding by $20 billion over 10 years

The debt limit agreement decreases IRS funding by $20 billion over 10 years. “We’ve got good news. I’ve just spoken with Speaker McCarthy. We have a bipartisan budget agreement,” Biden said to reporters at the White House. The bill would expand work requirements for the Supplemental Nutrition Assistance

Yellen has said: The US could default as early as June 5 without a debt ceiling hike

Yellen has said:  The US could default as early as June 5 without a debt ceiling hike. On May 15, the U.S. Treasury Department emphasized once again its projection that, barring a hike in the debt limit, it will only be able to honor the U.S. government'

Moody's says will downgrade US AAA if June 15 debt payment missed

Moody's says will downgrade US AAA if June 15 debt payment missed, per Bloomberg. On Thursday, credit rating agency DBRS Morningstar placed the United States under review for a potential downgrade due to the ongoing debt ceiling negotiations in Washington. This move comes shortly after a similar warning

tesla

Tesla Model Y was the best-selling car in Europe for Q1, 2023

Per JATO JATO Dynamics, an industry analyst, published a recent report that shared how the Tesla Model Y became the best-selling car in Europe for the first quarter of 2023. This came as the model led the overall rankings in March as well. "A new vehicle has taken top

doj

DOJ to soon take action on short-selling

Per Reuters A top department official of the Department of Justice said they would soon be taking action on short-selling. It was noted that this will be a "key focus for US prosecutors." Short-selling allows people to profit even if a stock goes down. For example, if a

target

Target boycott calls over LGBTQ+ kids clothing resulted in the company losing $9 billion just a week after

Per NYP Target has recently rolled out its "PRIDE" collection, which was described as LGBTQ+-friendly clothing for kids. This resulted in calls for a boycott on social media, resulting in the retailer losing $9 billion in market value just a week later. Target's stock was

nikola

Nikola faces Nasdaq delisting after receiving a notice as the company struggled to maintain its minimum bid price

Per Reuters Nikola was once one of the companies that tried to rival Tesla in the EV space as it aimed to focus on electric trucks. The company faced a delisting notice from Nasdaq as it struggled to meet requirements. Specifically, Nikola struggled to meet Nasdaq's requirements regarding

bud light

Anheuser-Busch lost $15.7 billion in market value since the Bud Light ad in April

Per Daily Mail Anhauser-Busch, the parent company of Bud Light, is now suffering from an ad that the beer brand did in partnership with Dylan Mulvaney in April. Aside from the ad, Alissa Heinerscheid, the VP of marketing during that time, said that the company wanted to change its "

goldman sachs

Goldman Sachs cautions around AI investments, saying stocks to most likely benefit are Meta, Alphabet, Google, Microsoft, Amazon

Per Market Insider With all the buzz around AI, Goldman Sachs has recently warned people to be careful around artificial intelligence investments. The firm noted that the stocks most likely to benefit included Meta, Alphabet, Google, Microsoft, and Amazon. The statement was given by Goldman Sachs chief US equity strategist

pasta

Pasta prices saw a 17.5% increase in March and 16.5% in April in Italy

Per CNBC The price of pasta in Italy has raised to a point where there are being talks of a strike in an attempt to bring prices back down. In March, pasta saw an increase of 17.5%, while in April, it increased by 16.5%. The minister of business

gen z

Almost 3/4 of Gen Z want to buy a home in less than 6 years

Per CNBC A recent report shared how almost three-quarters of Gen Z said that they wanted to buy a home in just one to six years. The survey from Rocket Morgage found that this age group wasn't that worried about the current challenges being faced. The report mentioned

first republic

First Republic paid dozens of employees over $10 million nearing to the collapse, with one of them earning $35 million

Per Bloomberg Recent findings revealed that before the collapse of First Republic, the firm still paid dozens of its employees over $10 million each. One of their employees, which remained unnamed, earned $35 million. First Republic was seized by regulators and sold to JPMorgan Chase & Co., and so far,

eu

EU leaders are preparing for Biden to lose

Per CNBC Ahead of the elections, European Union (EU) officials are already preparing for a change in leadership in the US. This comes after the 27 nations were openly thrilled when Joe Biden won the 2020 US elections. An EU official gave a statement regarding how the matter concerned EU

jim cramer

Jim Cramer says debt ceiling doesn't bother Wall Street

Per CNBC CNBC's Jim Cramer has given his observations on Wall Street, saying that the debt ceiling wasn't bothering stocks when looking at market activity. He then posed the question as to whether the debt ceiling standoff meant anything. Cramer: “Is it possible the whole debt

germany

Germany plans to send €843 million worth of tanks and howitzers to replace equipment sent to Ukraine

Per Bloomberg Germany was one of the countries that supported Ukraine by providing it with military weapons, including tanks. The country plans to replace previously sent equipment to Ukraine by purchasing additional ones worth €843 million. The country plans to make a purchase from Rheinmetall AG and Krauss-Maffei Wegmann GmbH

pentagon

Pentagon can't account for millions of dollars worth of F-35 parts

Per Bloomberg Recently, the Pentagon could not account for millions of dollars worth of spare parts. Per congressional auditors, these involved hundreds of thousands of spare parts for the F-35 jets. These spare parts were reportedly stored around the world and were reserved for US and allies using the F-35

silicon valley bank

Silicon Valley Bank CEO Greg Becker doesn't want to give up any of the $10 million annual pay he made before the bank collapsed

Per NYT While Silicon Valley Bank collapsed, its CEO Greg Becker could still make $10 million in annual pay before that happened. This came as he was able to cash out millions in stock options just weeks before the collapse of the lender. Recently, Becker had to appear before the

Chinese

Chinese citizens working and living in Florida sued the state for a law that would ban them from being able to buy property within the state

Per BBC Florida will impose a law on July 1 that would ban Chinese citizens from purchasing property within the state. Chinese citizens working and living in the state are now filing a lawsuit, arguing that the law wasn't constitutional. Aside from being unconstitutional, the group of Chinese

The Treasury Department has asked federal agencies whether they can make upcoming payments at a later date

The Treasury Department has asked federal agencies whether they can make upcoming payments at a later date. "To produce an accurate forecast around the debt limit, it’s critical that Treasury have updated information on the magnitude and timing of agency payments," the spokesperson said in an emailed

Some startups are selling at 80% discounts due to the collapse in valuations across the tech industry

Some startups are selling at 80% discounts due to the collapse in valuations across the tech industry, per BI. As of the end of 2022, limited partners or LPs in VC funds were on average selling their stakes on the secondary market 32% below net asset value, according to data

META

Meta bought Giphy for $315 million in 2020 but is now selling it to Shutterstock for $53 million

Per CNBC Shutterstock is now buying Giphy from Meta at a massive discount. Facebook's parent company purchased Giphy for $315 million in 2020 but was now selling it for a cash deal worth $53 million. In 2020, when the company bought Giphy for $315 million, UK's

Apple

Apple reached a deal with Broadcom worth multi-billions for US-built chips

Per CNBC Apple has recently been trying to reduce its reliance on China for chips, and aside from investments in other countries like India, it has also allocated a significant budget to source chips from the US. This leads the company to reach a multibillion deal with Broadcom to develop

tiktok

Oracle will 'soon' gain access to TikTok's source code, algorithm, and content-moderation material

Per Bloomberg As TikTok is trying to devise ways to alleviate concerns, specifically regarding national security, it was reported that the platform would 'soon' give access to critical parts of the app to Oracle. These include access to TikTok's source code, algorithm, and content-moderation material. TikTok

tiktok

TikTok sues Montana due to alleged First Amendment violation opposing new state law that would ban the platform

Per CNBC Montana has recently passed a state law that would ban the use of TikTok within the state. Now, the platform has decided to counter by filing a lawsuit against the state, citing alleged violations of the First Amendment. TikTok filed the lawsuit in the United States District Court

mccarthy

McCarthy says no agreement yet but felt that the 'discussion was productive'

Per CNN House Speaker Kevin McCarthy has provided an update regarding the debt limit issue. McCarthy clarified that although an agreement hasn't been met, he felt that the "discussion was productive." This update comes as the US is closing in on March 1, the potential default