Unusual Whales

US GDP up at 2.6%

U.S. economic growth rebounded more than expected in the third quarter amid a continued decline in the trade deficit, but that overstates the economy's health as the Federal Reserve's aggressive interest rate increases curbed consumer spending. Gross domestic product increased at a 2.6% annualized

Elon Musk asked engineers from Tesla to meet with product leaders at Twitter

Per Bloomberg: Elon Musk asked engineers from Tesla Inc., the electric-car maker he runs, to meet with product leaders at Twitter Inc., moving swiftly to make a mark on the company he’s about to take private, according to people familiar with the matter. Earlier Thursday in Twitter’s San

Twitter to be removed from the S&P500

Per the Block: The S&P 500 is exiting Twitter (TWTR) from its stock market index on Nov. 1, days after it's being sold to billionaire Elon Musk. Global insurance, reinsurance and mortgage insurance company Arch Capital Group, $ACGL, will replace Twitter before the markets open that

Elon has bought Twitter

Elon Musk has added Twitter to his business empire after months of legal skirmishes, according to CNBC, The Washington Post. and Insider. Musk’s first move on Thursday was to oust Parag Agrawal, who was Twitter’s last CEO as a public company. Chief financial officer Ned Segal and Vijaya

Elon Musk has taken control of Twitter, per CNBC

This is a breaking story. Elon Musk is reportedly to close his $44 billion acquisition of Twitter. Musk will purchase the company at its original $54.20 per share terms. Twitter equity investors Binance, Sequoia Capital, Qatar Investment Authority, and others have already received the requisite paperwork from Musk'

Americans Aged 18 to 29 have a 76% Higher Credit Card Delinquency Rate Compared to Other Groups

Per CNBC Credit card delinquency rates have increased .16% from its previous 5.32% in America with individuals aged 18 to 29 having a 76% higher delinquency rate compared to other groups at 9.36%. Americans aged 50 and over have a delinquency rate below 5%. Credit card debt reached

Remote Job Offerings in the US Dropped from 20% to Just 14% from Feb to Sep

Per Bloomberg Remote job offerings in the US dropped from 20% in February to 14% in September. The listings have attracted an extra 2% of applicants bringing the total to 52%. Researchers found that 15% of Americans now work fully remotely, 30% work on hybrid schedules, and 55% work on-site.

Credit Suisse Plans to Raise $4 Billion from Investors and Slash Its Headcount by 9,000

Per Bloomberg Credit Suisse Group AG is trying to raise $4 billion by tapping its investors to fund a year-long reshaping of its business. The company also plans to let go of 9,000 employees. The company plans to raise the $4 billion through a rights issue and selling of

Twitter Shares to be Suspended on NYSE on Friday as Elon Musk Faces Deadline to Buy Twitter

Per Reuters Elon Musk faces an Oct 28 deadline, as per court order, to close his $44 billion acquisition of Twitter. Musk will purchase the company at its original $54.20 per share terms. Twitter equity investors Binance, Sequoia Capital, Qatar Investment Authority, and others have already received the requisite

Germany to Legalize Purchase of Up to 30 Grams of Cannabis

Per Bloomberg: Germany will permit adults to purchase and possess up to 30 grams (a little over 1 ounce) of cannabis for recreational use, as the ruling coalition fulfills a promise to legalize weed. Chancellor Olaf Scholz’s cabinet approved a proposal on Wednesday that will allow controlled cultivation and

The $META metaverse division, Reality Labs, lost $3.7 billion this quarter

Per Blockworks: Meta’s Reality Labs business — the division in charge of producing metaverse-related technology — once again saw heavy losses, hemorrhaging nearly $3.7 billion during the third quarter. The company’s family of apps division, which includes Facebook, Instagram, Messenger and WhatsApp, posted a net income of roughly $9.

Musk Tells Twitter Employees He Doesn’t Plan to Cut 75% Of Jobs

Per Bloomberg: Elon Musk told Twitter Inc. employees on Wednesday that he doesn’t plan to cut 75% of the staff when he takes over the company. Musk, whose $44 billion deal for Twitter is on track to close Friday, denied the previously reported number in an address to employees

Tesla under US criminal investigation over self-driving claims, per Reuters

Tesla is under criminal investigation in the United States over claims that the company’s electric vehicles can drive themselves, three people familiar with the matter said. The US Department of Justice (DoJ) launched the previously undisclosed investigation last year following more than a dozen crashes, some of them fatal,

Elon brings kitchen sink to Twitter

Elon Musk showed up at Twitter, $TWTR, San Francisco headquarters carrying a kitchen sink as he closes in on his $44 billion purchase of the social media platform. “Entering Twitter HQ – let that sink in!” the world’s richest person tweeted with a video of him in the lobby of

30-Year Mortgage Rose 22 Basis Points to 7.16%, the Highest Since 2001

Per Reuters 30-year fixed-rate mortgage rose by 22 basis points to 7.16% reaching the highest level since 2001. The central bank is expected to raise rates by 75 basis points on Nov 1-2 upon the conclusion of its next policy meeting. Mortgage Bankers Association's Market Composite Index

47% of Employees Plan to Retire Later Due to Inflation Affecting Their Retirement Savings

Per Bloomberg 47% of employees plan to retire later due to inflation affecting their retirement savings. 44% said that a market crash would destroy their savings resulting in them wanting to work an average of four years longer than their plans a year ago. 24% of workers aged 45 or

Apple to be Forced to Add USB-C Chargers to iPhones to Comply with New EU Mandates

Per Forbes, WSJ, and The Verge Apple's worldwide marketing chief Greg Joswiak was asked at the recent Wall Street Journal's Tech Live event whether they will abide by the European Union's new mandate regarding the USB-C standard. Joswiak said "obviously" they will

Jim Cramer Says He's Optimistic About November

Per CNBC Jim Cramer said he's optimistic going into November "just because it is midterms, always been good after." The CNBC host said that the market has been "down so much this year we can bounce." Cramer said that the US dollar could be

Musk Reportedly Tells Bankers Twitter Deal Will Close on Friday

Elon Musk reportedly told bankers financing the debt portion of his $44 billion deal that he plans to wrap up the transaction by Friday, Bloomberg news reported Tuesday. Musk indicated that he would wrap up the deal following a video conference call with bankers, who are providing $13 billion in

MrBeast is looking to raise around $150 million for his business at a roughly $1.5 billion valuation

Per Axios: MrBeast, the YouTube star turned entrepreneur, is looking to raise around $150 million for his business at a roughly $1.5 billion valuation. In addition to his own YouTube channel, MrBeast runs Beast Reacts (19.8 million followers), MrBeast Gaming (29.1 million followers), and MrBeast Shorts (16.

U.S. home prices could fall as much as 20% next year

Per CBS: Home prices have slumped during the second half of 2022 with demand for residential real estate cooling off in a number cities across the U.S. Prices could continue to fall by as much as 20% next year as mortgage rates climb and the housing market normalizes in

Kanye West is no longer a billionaire

Per Yahoo Finance: Kanye West is no longer a billionaire, according to Forbes. The publication reported Oct. 25 that the rapper lost his spot on its list of billionaires after being dropped by Adidas for his string of antisemitic rhetoric. According to the financial magazine, Ye’s multi-year partnership with

107M-Follower YouTuber MrBeast is Looking to Raise $150M for His Business at a $1.5B Valuation

Per Axios and Forbes YouTuber MrBeast, known for his 107 million followers, is looking to raise $150 million for his business at a $1.6 billion valuation. MrBeast's main channel is the 5th most-subscribed YouTube channel in the world. An estimate by Forbes says MrBeast makes over $54

Adidas Ends Partnership with 'Ye' Kanye West Expecting a $246.5M Short-Term Negative Effect on Full-Year Net Income

Per Bloomberg Adidas is officially ending its partnership with Ye, formerly known as Kanye. The company is prepared to do this despite saying the short-term negative impact could total $246.5 million on its full-year net income. The Yeezy partnership is estimated between $993 million and $1.49 billion in

Apple Updates App Store Guidelines for NFTs Maintaining the 30% Tax on In-App Purchses

Per Coin Desk and The Information Apple won't exempt NFTs from its 30% "Apple Tax" on in-app purchases. Its updated App Store guidelines "Added 3.1.1" say users are free to mint, list, and transfer NFTs and can browse collections as long as