Twitter might be acquired within the next year, says one top analyst, but it must turn its product around first.
“This is about a better product that advertisers feel more comfortable buying, with more brand-safe video inventory, that Matt Derella and team are selling,” Rich Greenfield, analyst and managing editor at BTIG, told Cheddar, referring to the company’s VP of revenue. “This is set up to work very well in 2018.”
Twitter’s stock has risen about 37 percent in the last year, but news that COO Anthony Noto resigned his post sent shares down more than two percent on Tuesday.
Still Greenfield says that CEO Jack Dorsey will be able to propel growth at the company. He dismissed concerns that Dorsey, also CEO of Square, may be distracted by his other obligations.
“Jack is still very much invested, and very much a believer,” he said. “I think he has benefited from Noto’s ability to help focus the company on the core Twitter product and get rid of some of the distractions that were problematic for the company 18 months ago, two years ago.”
Noto, a former Goldman Sachs investment banker who joined Twitter as its financial chief in 2014, took over the COO role in November 2016. He will take over as CEO at digital lender SoFi in March.
For full interview [click here](https://cheddar.com/videos/what-anthony-noto-out-at-twitter-means-for-company).
President Donald Trump said he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking.
Universal Music Group and AI platform Udio have settled a copyright lawsuit and will collaborate on a new music creation and streaming platform. The companies announced on Wednesday that they reached a compensatory legal settlement and new licensing agreements. These agreements aim to provide more revenue opportunities for Universal's artists and songwriters. The rise of AI song generation tools like Udio has disrupted the music streaming industry, leading to accusations from record labels. This deal marks the first since Universal and others sued Udio and Suno last year. Financial terms of the settlement weren't disclosed.
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
