Oct. 25, 2021
Carl Quintanilla, David Faber and Mike Santoli kicked off a new market week by highlighting what will be a huge week full of earnings reports, especially from mega-cap names such as Apple, Amazon, Microsoft, Alphabet and Facebook. Ahead of its quarterly results due out after Monday's close of trading, Facebook is under fire and making headlines regarding leaked internal documents. Reports say that they indicate employees at the social network expressed anger about Facebook's policies on handling misinformation -- including when it came to the 2020 election and the storming of the U.S. Capitol on January 6. The anchors discussed what these developments could mean for the stock and reacted to Facebook's rebuttal to the reports. On the inflation front, Twitter CEO Jack Dorsey tweeted "Hyperinflation is going to change everything. It's happening." But ARK Invest CEO Cathie Wood tweeted a rebuttal saying it's deflation people need to worry about. PayPal announced that "In response to market rumors ... it is not pursuing an acquisition of Pinterest at this time. Shares of Pinterest tumbled and PayPal jumped on the news. Also in focus: Supply chain issues and earnings movers including Kimberly-Clark, an update on the soaring "Trump SPAC" and Treasury Secretary Yellen making the case for her proposal to tax billionaires.
