Closing Bell: Stocks sink into the close, Elon Musk’s Twitter takeover offer, and Wells Fargo’s CFO on earnings 4/14/22
Stocks selling off into the close ahead of a 3-day holiday weekend with tech leading the decline. Twitter shares closing in the red despite initially popping following Elon Musk’s $54 per share takeover offer for the social media company. Box CEO Aaron Levie explains why he thinks that bid may be too cheap. Evercore ISI’s Mark Mahaney weighs in on where the stock will go from here. Wells Fargo one of the worst performing stocks in the S&P 500 because weaker than expected mortgage lending took a toll on quarterly revenue. CFO Mike Santomassimo discusses whether the bank’s mortgage business will continue to be hurt by rising interest rates and why he sees the consumer doing well despite inflation fears.
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