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Twitter, Inc. (TWTR)

NYSE - Nasdaq Real-time price. Currency in USD
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65.81-2.13 (-3.14%)
As of 12:50PM EDT. Market open.
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Previous close67.94
Open68.01
Bid66.04 x 800
Ask66.05 x 800
Day's range65.67 - 68.10
52-week range25.06 - 80.75
Volume6,704,743
Avg. volume20,777,672
Market cap52.56B
Beta (5Y monthly)0.83
PE ratio (TTM)N/A
EPS (TTM)-1.44
Earnings date29 Apr 2021
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target est70.85
  • European Soccer Embraced Big Money. Now It Faces All-Out War
    Bloomberg

    European Soccer Embraced Big Money. Now It Faces All-Out War

    (Bloomberg) -- European soccer is embroiled in an escalating multi-billion-euro battle for control of the continent’s most prestigious club competition after a dozen teams declared themselves founding members of a breakaway league.The announcement of the 4 billion-euro ($4.8 billion) defection financed by JPMorgan Chase & Co. prompted an outcry from fans, governments and UEFA, European soccer’s governing body. In response, UEFA is now exploring a 6 billion-euro financing proposal from U.K.-based asset manager Centricus to fund a revamped Champions League, people familiar with the matter said.The confrontation reflects the evolution of the world’s most popular game as a global business, yet also the financial realities during the pandemic. Led by clubs from England, Italy and Spain, teams with vast fanbases and significant debts are seeking to squeeze more cash from broadcasting rights and underpin revenue after a year spent playing in empty stadiums. Paris Saint-Germain Rejects Soccer Super League ApproachOf the teams that have so far joined the JPMorgan-backed Super League, all but a few ended last season in the red and at least eight have net debt exceeding 100 million euros, according to accountancy firm KPMG. What comes next is likely to be some high-stakes brinkmanship. UEFA President Aleksander Ceferin branded the breakaway proposal a “spit in the face” for soccer supporters, while his organization vowed to take all measures necessary—from turning to the courts to banning teams and players from international soccer tournaments—to stop the move.It could hinge on the prospect of money up front for indebted clubs, according to Kieran Maguire, a lecturer in football finance at Liverpool University in northwest England. “Poor financial management at some European clubs has forced them to generate advanced funds to help alleviate their debt situation,” he said. “Clubs will either achieve their objective from this competition or extract further income and certainty from UEFA.”Centricus has been in talks with UEFA for a number of months regarding financing, a person familiar with the matter said. The investment firm discussed an initial package of about 4.2 billion euros, which was increased following the Super League proposal, the person said, asking not to be identified discussing confidential information.Negotiations are ongoing and there’s no certainty UEFA and London-based Centricus will reach an agreement, according to the people. A representative for Centricus declined to comment, while a spokesperson for UEFA didn’t immediately respond to a request for comment. UEFA will hold its annual congress on Tuesday.In the background, though, is a plan by UEFA to expand the Champions League to 36 teams from 32 and increase the number of games. That has irked some teams complaining the season already has too many matches, while also diluting the number of games between the continent’s biggest attractions. Under the Super League plan, the biggest clubs such as Manchester United and Real Madrid would start their own competition in August. Six teams from England, three from Italy and three from Spain have signed up so far, and they would play each other midweek as an alternative to the UEFA tournament. QuicktakeSoccer Super League Would Mean Major Money, Big AngerIn addition to what will be 15 permanent teams, another five will qualify each year for the Super League. Clubs in France and Germany, including 2020 Champions League winner Bayern Munich, are not part of it. Qatar-backed Paris Saint-German opposed the plan and sided with UEFA. PSG Chairman Nasser Al-Khelaifi said on Tuesday that “football is a game for everyone.”Indeed, the potential advent of the rebel league has galvanized opposition to it, including from U.K. Prime Minister Boris Johnson and French President Emmanuel Macron. Prince William, who serves as president of the English Football Association, expressed his concern. The tug-of-war goes to the heart of soccer’s identity in the 21st century. Leading clubs with a rich history have spent recent decades embracing global capitalism, pay-TV deals and debt-fueled foreign ownership. Local fans, meanwhile, have regularly complained of being priced out of the game they love and vented their fury at a move they see as an abandonment of soccer’s long-held traditions of open competition. “It was a tone-deaf proposal, but the owners of those clubs won’t have been able to ignore the near universal roar of outrage from all parts of the football community over the past 24 hours,” British Culture Secretary Oliver Dowden told the U.K. Parliament on Monday. A meeting of England’s Premier League clubs is due to go ahead on Tuesday without the six Super League entrants in attendance. Johnson will also host a round table on Tuesday with fans’ representatives and figures from the Football Association and the Premier League, a person familiar with the plans said. Read More: The Billionaire Owners Divided Over Soccer’s New Super LeagueWhile a breakaway has been mooted for years, the development has roots in a proposal—known as Project Big Picture—first put forward by the billionaire American owners of Manchester United and Liverpool last year.The plans proposed a structuring of the governance of the English Premier League, Europe’s most lucrative national competition, to give the biggest clubs an outsized voice in its future direction. The idea was rejected by the league, but it opened up an opportunity to reshape the game.Moves to set up a breakaway European league started to strengthen as the pandemic hit soccer hard, with the prospect of cancelations first prompting broadcasters to seek rebates from clubs and governments reluctant to bail out those hit by declining matchday revenues. In total, the top 20 clubs have suffered at 2 billion-euro hit from the pandemic, according to Deloitte. Italy’s top flight Serie A invited private equity groups to submit bids for a stake in its media rights operation, but negotiations have been fraught and there has been no deal yet. The German Bundesliga, which was first to restart games after Covid, has opened a similar auction for a stake in its overseas rights. By the beginning of this year Bloomberg reported that the organizers were closing in on a roster of permanent members, and that JPMorgan would provide financial backing. “Covid has provided a useful smokescreen and an opportunity for clubs to try to force through this proposal on the basis that they need to rectify financial imbalances caused by the pandemic,” said Maguire at Liverpool University.The idea that the biggest, most successful clubs in European soccer should compete against each other underpinned the creation of the original European Cup competition back in 1955.The tournament involved only the champions of national domestic leagues—plus the trophy holder—until the 1990s, with the list of winners including not just Real Madrid, Barcelona, AC Milan and Juventus, but smaller clubs such as Red Star Belgrade, Nottingham Forest and Dutch team Feyenoord. It was then expanded into the Champions League, effectively ensuring the big clubs remained in the competition for longer. Proponents argue the Super League would create a more exciting competition because the game’s very top teams would play each other more often. It would also be lucrative for them, with permanent membership removing the uncertainty of qualification after a bad season.In his first interview since the project was unveiled, Real Madrid President Florentino Perez, the first chairman of the Super League, told Spanish TV on Monday night that the plans would “save football,” saying that the clubs’ debts and revenue crunch had left them “on the edge of ruin.”“We don’t want the rich to be richer and the poor poorer. We have to save football. Everything I do is for the good of football, which is in a critical moment.”(Adds PSG statement in 11th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Dogecoin at $50 Billion Makes It Bigger Than Ford and Kraft
    Bloomberg

    Dogecoin at $50 Billion Makes It Bigger Than Ford and Kraft

    (Bloomberg) -- For a cryptocurrency created as a joke, Dogecoin now finds itself in some serious company.After a 400% rally in the past week, the total value of all circulating Dogecoins in the world is about $50 billion, according to data provider CoinMarketCap.com.That makes it bigger than the market cap of Ford Motor Co. and Kraft Heinz Co. -- and nearly equal to Twitter Inc., the platform where Elon Musk and Mark Cuban have promoted the Shiba Inu-themed meme coin.No one thinks these blue-chip stocks are all that comparable to Dogecoin, a fringe asset with no real purpose beyond being a joke on social media. But the similarity of their market values underscores the boom in cryptocurrencies that’s taken Wall Street by storm.Plumber Buying Doge Shows Retail Investors’ Power in CryptoIt’s all part of the dizzying trajectory for Dogecoin, which has delighted followers of so-called alt coins, but dismayed some crypto enthusiasts who worry that it’s only adding to volatility and detracting from its more useful endeavors, like decentralized finance.Dogecoin prices have rallied recently, with fans rallying behind the #DogeDay hashtag to celebrate April 20, or 4/20, known in cannabis culture as a day for smoking marijuana. Prices were trading just below 40 cents on Tuesday, according to CoinGecko.com.Meanwhile, other cryptocurrencies have been mired in a slump as euphoria from Coinbase Global Inc.’s listing wears off. Bitcoin, the world’s largest token, has fallen for five straight days, back to $55,000.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Apple to Reinstate Parler; Google Offers Potential Return
    Bloomberg

    Apple to Reinstate Parler; Google Offers Potential Return

    (Bloomberg) -- Apple Inc. will let the social-media app Parler back on the App Store after an almost four-month absence, the iPhone maker told U.S. lawmakers ahead of a congressional antitrust hearing later this week.The Cupertino, California-based technology giant made the disclosure in a letter to Senator Mike Lee, a Republican from Utah, and Representative Ken Buck, a Republican from Colorado. The social media app, a favorite of conservatives who have left Twitter Inc., was removed from the App Store in January after it was one of the online networks used to incite violence at the Capitol in Washington. At the time, Apple said it pulled the app for violating content guidelines and said it would consider reinstating the service if Parler made changes to better moderate content.On Monday, Alphabet Inc.’s Google also indicated it would allow Parler back on the Google Play store if the app meets guidelines. “Parler is welcome back in the Play store once it submits an app that complies with our policies,” a Google spokesperson said. The company added that the app had remained available on Android via other channels despite the January removal from Google Play.Apple told the government officials in its letter that it found posts on Parler that “encouraged violence, denigrated various ethnic groups, races and religions, glorified Nazism, and called for violence.” Since the initial rejection, as well as rejections of other updates, Apple has “engaged in substantial conversations with Parler in an effort to bring the Parler app into compliance with the guidelines and reinstate it in the App Store,” the company said in the letter.Read more: Apple Blocks Parler Return to App Store on Offensive ContentApple said Parler has proposed content moderation changes and was informed on April 14 that an update of the app would be approved. Parler said in a statement that it would launch the updated app next week on the App Store.The reinstatement to the App Store “comes after several months of productive dialogue with Apple and new information that Parler provided to the public and Congress to demonstrate that the company has always prohibited incitement and Parler had been unfairly scapegoated for the events of January 6th,” the social network said in a statement. Parler said it “implemented several new safeguards in order to detect posts that would not fall within the protections of the First Amendment.” The social network, however, said it won’t “make changes to its broad policies to create a free and open platform without viewpoint censorship and committed to the First Amendment rights of its users.” That will mean that the iPhone version of the Parler app will exclude posts that will otherwise remain available on Parler’s web and Android versions.In its letter, Apple said it requires apps to filter “objectionable material,” provide a way for users to report offensive content, offer the ability to block “abusive users” and list contact information so users can reach the developer. Google requires similar moderation tools for apps hosted on Google Play.In Apple’s letter on Monday to the lawmakers, written by Senior Director of Government Affairs for the Americas Timothy Powderly, the company said it originally decided to remove Parler independently and that it did not coordinate with Google or Amazon.com Inc, which barred Parler from running on its cloud service.Apple’s decision to reinstate Parler comes ahead of a Wednesday hearing scheduled by the Senate Judiciary Committee’s Subcommittee on Competition Policy, Antitrust and Consumer Rights, which is run by Senator Amy Klobuchar, a Democrat from Minnesota. Lee is the panel’s top Republican. Kyle Andeer, Apple’s chief compliance officer, will speak at the hearing, the company said earlier this month.“Apple’s power over the cost, distribution, and availability of mobile applications on the Apple devices used by millions of consumers raises serious competition issues that are of interest to the subcommittee, consumers, and app developers,” the senators wrote to Apple Chief Executive Officer Tim Cook ahead of the hearing. “A full and fair examination of these issues before the subcommittee requires Apple’s participation.”(Updates with comments from Parler on app release timing and details beginning in the fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.