Elon hires new CEO at twitter, Home Depot posts worst revenue in 20 years and Democrats give support for SECs authority over Crypto Regulation [Bulls, Bears & Blockchain May 16, 2023]

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Join us on Twitter spaces for today’s Bulls, Bears & Blockchain show, where we’ll be tackling some of the most pressing topics in the financial world.

Be sure to join the conversation as we discuss:

  • Elon Musk names new CEO at twitter
  • Home Depot posts worst revenue miss in about 20 years
  • Democrats’ Memo Emphasizes Support for SEC’s Authority Over Crypto Regulation

Don’t miss out on this exciting discussion! Tune in to our Twitter Spaces show today at 5:30 pm EST and join the conversation.

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Elon Musk names new CEO at Twitter

In the past few weeks, Comcast’s CEO, Brian Roberts, has wrestled with the shocking loss of NBCUniversal’s CEO, Jeff Shell, who’s facing a sexual-harassment scandal, and a Hollywood writers’ strike threatening to wreck programming for the foreseeable future. 

Now Yaccarino, a top advertising executive who worked at the company for 12 years, has quit and been named by Elon Musk as the new Twitter CEO — days before NBCUniversal’s major annual upfront presentation to advertisers. 

One advertising executive who works closely with NBCUniversal described the situation inside the company as a “Cuban missile crisis.”  “This couldn’t have happened at a worse time,” this person added.

Home Depot posts worst revenue miss in about 20 years

HD down 5% Home Depot reported fiscal first quarter 2023 earnings results that showed the worst miss in 20 years, as consumer spending on home improvement softened compared to during the pandemic boom.

Following the report, shares fell more than 4% in pre-market trading. In the fiscal first quarter of 2023, revenue dropped 4.2% compared with the first quarter last year.

While the home-improvement retailer beat on earnings, same-store sales growth came in far lower than expected, down 4.5%, compared with analyst estimates for a fall of 1.42%.

For fiscal year 2023, Home Depot now expects sales and comparable sales to decline 2% and 5% compared with fiscal 2022.

Tune in live today at 5:30 pm EST and listen in on market masters Marc Lopresti and Jon Najarian explain what this means and how to invest or not invest in these unprecedented times.

Democrats’ Memo Emphasizes Support for SEC’s Authority Over Crypto Regulation, Urges Focus on Debt Ceiling Bill

A memo was distributed among Democrat Committee members before a joint hearing on digital asset regulation by the Financial Committee and House Agriculture Committee.

The memo outlined “key messages” for the Democrats to emphasize, including support for the SEC’s complete authority over cryptocurrency regulation, the belief that most cryptocurrencies are securities, and the idea that the primary issue with crypto is widespread non-compliance rather than ambiguity.

The messaging also criticized Committee Republicans for seeking to reduce financial regulators’ budgets, suggesting they should prioritize passing a clean debt ceiling bill instead of promoting pro-crypto legislation.

Join us live on twitter today at 5:30pm EST as our crypto expert Alex Mascioli discusses this and much more about crypto markets!

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With so much at stake, it’s crucial to stay informed and involved in these discussions.

Join us today at 5:30 pm EST on our Twitter Spaces, where we’ll delve deeper into each topic, exploring the implications of twitter having a new CEO, Home Depots epic miss and what the Democrats position on SEC regulations will mean for crypto markets moving forward.

Don’t miss this opportunity to engage with experts and make your voice heard in this critical conversation.

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