Unusual Whales

Saudi Aramco Jumps 39% in Net Income, Exceeding Forecast by Almost a Billion

Per Reuters Aramco, the state oil producer of Saudi Arabia, beat forecasts with a 39% jump in Q3 net income. It also reported that free cash flow leaps from $28.7 billion a year ago to $45 billion. Aramco's net income increased to $42.4 billion for the

Jack Dorsey Retains a 2.4% Stake in Twitter Even After Elon Musk's $44 Billion Acquisition

Per Axios, SEC, and Business Insider Jack Dorsey, the co-founder of Twitter, retained a 2.4% stake in Twitter after Elon Musk's $44 billion acquisition. Per an SEC filing, Dorsey retained his 18,042,428 shares which would total $1 billion, by rolling it over into a stake.

$1 Billion Powerball Jackpot Lottery Could Leave Winners with as Low as $281.9 Million for an Upfront One-Time Cash Payment

Per CNBC The Powerball jackpot lottery drawing reached a whopping $1 billion. The game's operator says that higher interest rates allowed it to fund larger annuity prizes, but its lump sum would still be based on ticket sales. The advertised $1 billion would be if winners decided to

The S&P 500 could surge by at least 10% in one day if the Fed raises rates by 50 bps

Per Bloomberg: The S&P 500 could surge at least 10% in one day if the central bank raises interest rates by a slower-than-expected half of a percentage point, and Chair Jerome Powell signals willingness at the press conference to tolerate elevated inflation and a tightening labor market, according

Twitter staff cannot access some content moderation per Bloomberg

Per Bloomberg: Twitter Inc., the social network being overhauled by new owner Elon Musk, has frozen some employee access to internal tools used for content moderation and other policy enforcement, curbing the staff’s ability to clamp down on misinformation ahead of a major US election. Most people who work

2022 has been the worst year for 10Y US treasuries since 1788

Per MarketWatch: Benchmark U.S. Treasury bonds are facing their worst annual returns since 1788, but a big bounce is likely in the new year, along with a stock rout. That’s according to a team of strategists at Bank of America led by Michael Hartnett, who looked at 250

Elon Musk to reportedly revive Vine

The short-form video app Vine could be revived soon, six years after being shut down, if Elon Musk has his way. Musk, who completed his $44 billion purchase of Twitter last week, has directed Twitter engineers to work on a Vine relaunch, a source familiar with the matter confirmed to

Schumer saya close to marijuana legalization

Per Marijuana moment: Senate Majority Leader Chuck Schumer (D-NY) says Congress is getting “very close” to introducing and passing a marijuana bill with provisions covering banking access for legal businesses and expungements of past convictions, citing progress he’s made in discussions with a “bunch of Republican senators.” During a

Elon Musk sole director of Twitter

Elon Musk is now Twitter's sole director after scrapping the social-media company's nine-person board of directors. Musk's purchase of Twitter went through on Thursday evening. When first outlining his plans for his ownership of Twitter, Musk said [https://www.sec.gov/Archives/edgar/data/

Employees Working on New Twitter Verification were Given a Deadline of November 7, or They were Fired

Per The Verge After Elon Musk's takeover, one of his major plans includes charging $20 per month for verification. The team working on the new verification charges was given a deadline of November 7 for the update. Musk brought Tesla engineers into Twitter as advisors while he laid

Senate Republicans Ask for Explanation from SEC as to Why Staff are Leaving at the Highest Rate in 10 Years

Per Reuters Senate Republicans are asking for an explanation from the SEC as to why their staff are leaving at the highest rate in 10 years. The high departure rate comes amid numerous proposed rules Gary Gensler, the chair of the Securities and Exchange Commission, adds that they lack the

66% of Americans Suffer have It Worse Due to Inflation

Per CNBC and Lending Tree A survey of 5000 adults in August found that 66% of Americans are worse than a year before due to inflation. 1 out of 3 workers is running out of money before their next payday, even those earning over $100k. 72% of consumers have fewer

401(k)s Employee Contribution Limit Jumps by $2K from $20,500 in 2022 to $22,500 in 2023

Per CNBC Annual employee contributions for 401(k)s, 403(b)s, most 457 plans, and Thrift Savings will jump from $20,500 in 2022 to $22,500 in 2023. The IRS has also increased the catch-up contribution value from $6,500 in 2022 to $7500 in 2023. Employees over

Elon Musk to charge for Twitter verification monthly

Per the Verge: The directive is to change Twitter Blue, the company’s optional, $4.99 a month subscription that unlocks additional features, into a more expensive subscription that also verifies users, according to people familiar with the matter and internal correspondence seen by The Verge. Twitter is planning to

Elon Musk unlikely to pay fired executives

Per NYT: Mr. Musk also appears unlikely to pay the golden parachutes that the fired top executives of Twitter were set to receive. Under the merger agreement, those executives — including Parag Agrawal, the chief executive — had been set to receive compensation of $20 million to $60 million if they were

Elon Musk reportedly begins firing Twitter workers

Per the Verge: Elon Musk reportedly ordered company-wide layoffs at Twitter on Saturday, according to a report from The New York Times. It’s unclear how many workers will be affected by the purported job cuts, but sources told the NYT that some departments will be affected more than others.

GM temporarily suspends advertising on Twitter following Elon Musk takeover

Per CNBC: General Motors is suspending its advertising on Twitter following Elon Musk’s takeover of the social media platform, the company told CNBC on Friday. The Detroit automaker, a rival to Musk’s Tesla , said it is “pausing” advertising as it evaluates Twitter’s new direction. It will continue

American workers are earning just 12 cents more now than in the 1970s

When adjusted for inflation, wages have remained virtually unchanged over the last 50 years, with workers today earning just 12 cents more than they did in 1972. And with inflation at its highest since 1971, Americans are feeling the pain of slow wage growth. Two-thirds of American workers said that

Advertisers plan to boycott Twitter if Elon Musk lets Donald Trump start tweeting again, report says

Per BI: Advertisers plan to boycott Twitter if Elon Musk allows Donald Trump back on the platform after he took control on Thursday night, The Wall Street Journal reported. After paying $44 billion to close the deal [https://www.businessinsider.com/elon-musk-twitter-reach-agreement-to-close-acquisition-deal-2022-10] he tried to walk away from, Musk swiftly

People are pretending to be laid-off Twitter employees carrying boxes outside of HQ

Per the Verge: In videos circulating on Twitter Friday morning, two men carrying boxes are seen standing near the entrance to Twitter’s San Francisco building, claiming to have been laid off by Elon Musk, who officially took over the company Thursday evening [https://www.theverge.com/2022/10/27/

Twitter CEO Parag Agrawal Will Receive $42M After Being Fired Amidst Company Buyout

Per Bloomberg and Reuters Parag Agrawal, the Twitter CEO replacement of Jack Dorsey, is among the executives Elon Musk plans to depart from the company. Upon Elon Musk's $44 billion acquisition of the company, Agrawal is set to vest 100% of his unvested equity awards worth an estimated

NYC Rent has Risen 19% in the Last 12 Months Compared to the 12.3% National Average

Per Bloomberg New York City rents have increased by 19% over the last 12 months compared to the 12.3% national average rent increase. Average Manhattan rent was $2,804 in February and increased to $3,998 in August based on Zillow rental index data. Increases in other states compared

Germany's Scholz and France's Macron Threaten Trade Retaliations Against the US Over for Production Shift Plans

Per Politico Chancellor of Germany Olaf Scholz and President of France Emmanuel Macron agree that there is alarming unfair competition from the US and that Europe needs to retaliate. Both agreed that the recent American state subsidy plans represent measures to shift production to the US. They agreed that the

European Union Plans to Effectively Ban Combustion-Engine Sales by 2035 in Support of Electric Vehicles

Per Reuters The European Parliament and the EU countries have agreed to mandate that carmakers achieve a 100% cut in CO2 emissions by 2035. This would make it impossible for them to sell new fossil fuel-powered vehicles within the 27-country block. The deal also includes a 55% CO2 emissions cut

Elon Musk to reverse lifetime bans on Twitter users

Per Bloomberg: Elon Musk plans to assume the role of chief executive officer at Twitter Inc. after completing his $44 billion acquisition, taking the helm of the social media giant on top of leading Tesla Inc. and SpaceX, Bloomberg News reports. Musk intends to replace Parag Agrawal, who was fired