What’s trending today on social media:
DOJ sues Google: The Justice Department has filed a lawsuit against him alphabet inc WELL Google Google for dominating online advertising and anti-competitive practices. The government said Google should be forced to sell its ad manager suite. In response, Google said, “The DOJ reinforces a flawed argument that would slow innovation, increase advertising fees, and make it harder for thousands of small businesses and publishers to grow.”
PELOSI law: The Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act was reintroduced by U.S. Sen. Josh Hawley (R-Mo.), a bill designed to prevent lawmakers and their spouses from trading or owning individual stocks . The bill would require the member of Congress found in violation to return the profits to the American taxpayer. In January, Sen. Elizabeth Warren (D-Mass.) reiterated the need to end members of Congress from trading or owning stocks while in office. In related news, Nancy Pelosi sold Google shares valued at $3 million four weeks ago.
US Debt Default: Minister of Finance Janet Yellen on Tuesday activated another extraordinary cash management measure to prevent the federal debt ceiling from being breached by suspending daily reinvestments in a large state pension fund that holds government debt. In a letter to the Speaker of the House, Yellen wrote. “My predecessors took this suspension action under similar circumstances. The G-Fund will be made complete by law once the debt limit is raised or suspended. Federal pensioners and employees will not be affected by this measure.”
Rick & Morty: TV channel Adult Swim has severed ties with Rick and Morty co-creator and voice actor Justin Roiland as the actor prepares to defend himself against domestic violence charges at the hands of his ex-girlfriend. A statement from Adult Swim said: “Rick and Morty will continue. The talented and dedicated crew is hard at work on Season 7.”
Microsoft Revenue: microsoft inc MSFT reported second quarter earnings Tuesday after hours. The company marginally missed the revenue consensus but posted earnings per share of $2.32, beating the street view. Microsoft Azure’s cloud growth slowed, causing the stock to fall amid a cautious third-quarter outlook following the company’s earnings call. However, some analysts saw the positive results in earnings and are optimistic about future growth.
Tesla Earnings: Tesla Inc TSLA and its CEO Elon Musk mostly remain in the news. Tesla will announce its fourth-quarter results after the market close on Wednesday. Analysts at JP Morgan and Morgan Stanley have revised down price targets for Tesla.