- ‘This is going to be pretty bumpy going forward’: First Republic stock shares plunge almost 50% as people move their money despite $30 billion bailout Fortune
- JPMorgan CEO Jamie Dimon Leading Efforts to Craft New First Republic Bank Rescue Plan – WSJ The Wall Street Journal
- First Republic continues tanking, but other regional banks are rallying on Monday CNBC
- Fate of First Republic Uncertain as Shares Plummet Again The New York Times
- First Republic, Athenex fall; Franchise Group, Exelixis rise Bellingham Herald
- View Full Coverage on Google News
Tag Archives: bumpy
Super Bowl 2023: Nick Sirianni’s brash, confident persona is a long way from his bumpy start as Eagles coach – Yahoo Sports
- Super Bowl 2023: Nick Sirianni’s brash, confident persona is a long way from his bumpy start as Eagles coach Yahoo Sports
- Eagles’ Nick Siranni gives one-word answer to reporter’s obvious question during Super Bowl Media Day Fox News
- Was Julian Love Actually Giving Nick Sirianni Some Love? Sports Illustrated
- Eagles’ Nick Sirianni asked if Super Bowl is a ‘must win’ game Deadspin
- Eagles’ Nick Sirianni responds to Giants’ Julian Love’s criticism: ‘I don’t apologize for having fun’ NJ.com
- View Full Coverage on Google News
Twitter takeover: A timeline of Elon Musk’s bumpy road
Even by the standards of Twitter, a company that has known plenty of chaos and dysfunction in its history, the weeks-long effort by billionaire Elon Musk to buy the company has proven to be uniquely tumultuous — and there’s no clear end in sight.
After Musk recently said he was temporarily pausing the deal so he could assess the amount of spam and fake accounts, it prompted speculation that the billionaire might be looking to renegotiate the deal — or back out of it entirely. His actions in the days that followed only reinforced that thinking.
Here is a look back at the many twists and turns in one of the most high-profile tech deals in recent memory.
January 31: Musk begins building up his Twitter stake
Musk starts quietly buying up Twitter shares, building his stake in the company. But it would be months before he disclosed this fact to the public.
March 14: Musk’s Twitter stake tops 5%
Musk’s stake in Twitter tops 5%, but that fact is not disclosed until the following month. Musk was obligated to disclose his stake within 10 days of crossing the 5% threshold, but waited 21 days to do so. During that time, he continued building up his stake.
March 24: Asking whether Twitter should change
March 26: Musk reaches out to Jack Dorsey
April 3: Twitter leadership meets to discuss Musk
In the meeting, the Twitter board discussed wanting Musk to agree to “‘standstill’ provisions”,” according to the filing. This would effectively “limit his public statements regarding Twitter, including the making of unsolicited public proposals to acquire Twitter (but not private proposals) without the prior consent of the Twitter Board.”
April 4: Surprise! Musk becomes Twitter’s largest shareholder
News of the purchase sends shares of the social media company soaring more than 20% in early trading and kicks off a wave of speculation about how Musk might push for changes on the platform.
April 5: Musk agrees to join the board
April 10: Just kidding. Musk ditches the board
The reversal opens the door for Musk to pursue a greater stake in the company — and frees him to tweet his many thoughts about the company.
April 14: Musk offers to buy Twitter and ‘unlock’ its potential
April 15: The poison pill
April 21: Musk lines up $46.5 billion in financing
The billionaire also reveals that he has not received a formal response from Twitter a week after his acquisition offer. He said he is “seeking to negotiate” a definite acquisition agreement and “is prepared to begin such negotiations immediately” — an apparent reversal from his statement in his acquisition offer letter that it would be his “best and final” offer.
Although he is the richest person in the world, much of Musk’s wealth is tied up in Tesla stock, and some followers of the company speculate that it could be challenging for Musk to raise debt against the historically volatile stock.
April 25: Twitter agrees to sell itself to Elon Musk
April 29: Musk cashes out billions in Tesla stock
May 4: With a little help from his billionaire friends
May 6: Musk’s lofty goals for Twitter, revealed
May 10: Musk says he would reinstate Trump’s account
“I do think it was not correct to ban Donald Trump, I think that was a mistake,” Musk said. “I would reverse the perma-ban. … Banning Trump from Twitter didn’t end Trump’s voice, it will amplify it among the right and this is why it’s morally wrong and flat out stupid.”
May 12: A partial hiring freeze and executive departures
May 13: Twitter deal ‘temporarily on hold’
“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk tweeted.
Later in the day, Musk says his team is testing Twitter’s numbers and “picked 100 as the sample size number, because that is what Twitter uses to calculate <5% fake/spam/duplicate."
May 14: Oops. NDA problems?
Musk tweets out that Twitter’s legal team accused him of breaking a nondisclosure agreement when the billionaire revealed the platform’s sample size for automated user checks is allegedly just 100 users.
May 16: Poop emoji
Musk follows up with a somewhat more thoughtful question. “So how do advertisers know what they’re getting for their money?” Musk asked. “This is fundamental to the financial health of Twitter,” he added.
May 17: Musk says Twitter deal ‘cannot move forward’
In a statement, Twitter says it remains “committed to completing the transaction on the agreed price and terms as promptly as practicable.”
CNN’s Clare Duffy, Chris Isidore, Brian Fung, Rishi Iyengar and Allison Morrow contributed to this report.
Halo Infinite: 343 Addresses Season 2’s ‘Bumpy’ Launch and Says Fixes Are on the Way
The Season 2 update to Halo Infinite hasn’t quite lived up to players’ expectations, but members of the Halo team are reassuring players that fixes are on their way. Halo developer 343i Senior Community Manager John Junyszek and Head of Creative Joseph Staten took to Twitter to address players’ concerns on Friday.
“Hey Spartans, this week has been bumpy,” Staten said via a Tweet. “That definitely wasn’t our goal. We are indeed taking your feedback to heart, especially regarding map jumps and speedrunning. We’re reviewing options and will have more news to come.”