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Oracle Corp’s (NYSE: ORCL)...

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15%...

RTX Corp (NYSE: RTX)...

RTX Corp (NYSE: RTX) experienced a notable decline of -7.22%, amounting to $6.03...

GameStop Corp. (NYSE:GME) Quarter...

GameStop Corp. (NYSE: GME) to announce its second quarter fiscal 2023 results after...

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Shares of Advanced Micro Devices (NASDAQ:AMD) drops 0.38% in afterhours in last trading...
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CEO of Twitter Inc. (NYSE:TWTR) Continues To Fight to Get Out Of Deal; As Shareholder Approve Takeover Proposal

Twitter Inc. (NYSE:TWTR) slightly dropped 0.84% in pre trading session on Wednesday after the Tesla CEO Elon Musk received approval from shareholders on September 13 to purchase the social networking site and take it private, but the transaction might yet fall apart in a court battle this fall.

Shareholders approved Musk’s $44 billion proposal, despite his attempts to back out of the transaction. Twitter has sued Musk for breach of contract, setting up a five-day trial in Delaware Chancery Court on Oct. 17 unless the two parties find a resolution before then.

Musk has questioned the quantity of false accounts on Twitter, stating that the firm was not as forthcoming with the information. According to Twitter, less than 5% of monetizable daily active users were either phony or spam. The business stated that it gave Musk with sufficient data and details to satisfy the criteria of the transaction.

Musk sought to defend his controversial purchase of the social networking business with whistleblower charges. On September 6, Chancellor Kathaleen McCormick of the Delaware Chancery approved his motion.

Chancellor McCormick wrote “Twitter has represented that the anticipated risk of harm has materialized over the course of this litigation. Twitter ‘has suffered increased employee attrition’ which ‘undermines the company’s ability to pursue its operation goals.”

During the hearing, Musk’s request to postpone the October trial was refused. On April 14, he made a takeover attempt for Twitter at $54.20 per share, a 38% premium to the company’s stock price.

Twitter’s board subsequently agreed to implement a poison pill that would allow current shareholders to purchase shares at a discount, but by April 25, the business had changed its mind and accepted Musk’s offer.

Musk was happy with the board’s decision and attempted to seek outside finance for the proposed purchase, as Tesla shares represented the majority of his net wealth.

On May 26, he said that he has closed down his margin loans tied to Tesla Inc. (NASDAQ:TSLA) shares in order to reassure shareholders and investors. Musk has reportedly promised an additional $6.25 billion in stock to fund the transaction.

Oracle Corp’s (NYSE: ORCL) Cloud Business Faces Headwinds: What Lies Ahead

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15% or $15.21 to trade at $111.50 in pre trading session on...

RTX Corp (NYSE: RTX) Updates 2023-2025 Outlook amid Engine Part Challenge

RTX Corp (NYSE: RTX) experienced a notable decline of -7.22%, amounting to $6.03 per share, bringing its current trading price to $77.45. The company,...

GameStop Corp. (NYSE:GME) Quarter Report: Resilience amidst Market Turbulence

GameStop Corp. (NYSE: GME) to announce its second quarter fiscal 2023 results after the market closes today. Shares were slightly down in the pre-trading...

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Oracle Corp’s (NYSE: ORCL) Cloud Business Faces Headwinds: What Lies Ahead

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15% or $15.21 to trade at $111.50 in pre trading session on Tuesday as Wall Street's major indices experienced a tumultuous day, driven by Oracle's staggering 12.5%...

Advanced Micro Devices (NASDAQ:AMD) Attempts to Chases Nvidia Corp (NVDA) Valuation by Introducing New AI Chips

Shares of Advanced Micro Devices (NASDAQ:AMD) drops 0.38% in afterhours in last trading session as the company recently launched its data center and AI technology event, where it unveiled its long-awaited MI300 processor tailored for AI workloads. Its objective...

Amazon.com (NASDAQ: AMZN) To Face Tough U.K. Antitrust Review on Roomba Acquisition

Shares of Amazon.com, Inc. (NASDAQ: AMZN) inches down in pre trading session on Thursday as the British antitrust officials have begun looking into Amazon's $1.7 billion acquisition of robot vacuum manufacturer iRobot. According to a statement released on Thursday, the...

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