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From todays apple event we start with a major selloff in the financials the biggest driver in the market with the xlf falling more than 1. 3 citi dropping 7 today under pressure that regulators could crack down on the banks Risk Management systems the stock is now down more than 12 in the past two sessions guy . Dan nathan has been talking about this for a while one of the things weve said is todays banks are much different than ten years ago theyve become utilities you have to look at them differently and you have to factor in valuations much differently. Ill say this quickly about citi right now at 45 the stock is now trading 63 of tangible book, assuming that tangible book is accurate thats levels we last saw probably in the financial crisis these are trough valuations in terms of the price of tangible book i think Warren Buffett told you everything you need to know about ....
Social Media Companies ylan mui has more on the story reporter the dojs proposal strikes at the heart of the Business Model for platforms like facebook, google and twitter, section 230 of the communications ccc act the first is what theyre calling the bad samaritan bill, for platforms that facilitate or solicit illegal activity, and the second specific exemptions for child exploitation, and actual knowledge of elicit activity the doj cannot do this alone they would need congress to act to change the law. Big tech doesnt have a lot of friends on capitol hill these days just today, republican senator josh hawley unveiled a bill that would remove text Liability Protections unless the Companies Promise to act in good faith or pay a 5,000 fine to users if they ....
Consumerfacing businesses and both are on the move in the afterhours session and we have Team Coverage to break down both of these reports and lets kick things off with csx with the call now under way and lets get to Frank Holland with the details. Melissa, shares of csx up, and something weve seen in a number of other companies and one of its competitors, union pacific. On that call the ceo says production demand was too hard to forecast in this covid19 environment. Also during the call the cfo kevin boone said the Company Raised 500 million in debt and the Company Believes it is in position for a potential recovery and maintaining a strong cash reserve. Our Liquidity Position is extremely strong with near ....
"The only way I could afford my '66 Strat was to take the '66 neck off and sell it to a guy across the street, then go back to Manny's and buy an ESP neck": Marshall Crenshaw looks back on the making of his unsung, under-appreciated masterpiece, Field Day guitarplayer.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from guitarplayer.com Daily Mail and Mail on Sunday newspapers.