(KRON) — In today’s installment of Winners & Losers, financial expert Rob Black discusses falling stocks, Elon Musk’s Twitter deal, Apple’s future and Costco hotdog prices.

Loser: Stocks fall as earnings season approaches

Stocks tumbled, led by sharp losses in technology stocks as investors braced for the start of earnings season and fresh inflation data due out later this week.

The euro slid as investors considered the possibility of an energy crisis pushing Europe’s economy into a recession.

Twitter was in focus after Elon Musk backed out of his $44 billion bid for the social media platform late last week.

MGM and Wynn Stocks fall as Macau shuts down casinos again.

Macau, which has a population of about 650,000, has recorded more than 1,500 COVID-19 cases since mid-June.

Despite an FDA ban on Juuls, e-cigarettes are a $7 billion category.

Earlier this month, Costco announced that it would raise the price of two of its food court items: fountain soda and chicken bakes. When asked today on CNBC if the price of hot dogs would also be raised, Costco CEO Craig Jelinek answered with one word: “No.”

Loser:  Elon Musk walks away from $44 billion Twitter deal

Twitter stocks tumbled 5.6% as Elon Musk’s decision to walk away from his $44 billion deal to buy the company sparked a legal battle.

The social media company has now plunged 25% since April 13 — the day that Musk agreed to a takeover deal.

In a letter filed by his lawyers, Musk claimed that “Twitter has not complied with its contractual obligations.”

“For nearly two months, Mr. Musk has sought the data and information necessary to ‘make an independent assessment of the prevalence of fake or spam accounts on Twitter’s platform,'” the letter continues.

In May, Musk said that the deal wouldn’t move forward unless he received proof that less than 5% of Twitter accounts were bots.

Twitter has already announced that it will “pursue legal action to enforce the merger agreement” and analysts said its share price will likely continue to tumble unless Musk reverses on his decision to pull out of the $44 billion deal.

Unless Twitter is willing to reduce its offer by at least 15% to 20%,  Musk will likely walk away, driving shares towards our standalone value of $26 per share.

Winner:  Apple pushing in new directions

Apple shares haven’t escaped the 2022 bear market: The stock is down about 20% year to date.

Apple sees many opportunities ahead.

More than half of Apple’s revenue comes from the iPhone, with an updated lineup due this fall.

Apple has been pushing in new directions, including an aggressive expansion into new services.

Apple now offers streaming video, music and games, along with credit cards, digital payments and other financial services.

Apple has also re-energized the Mac business, shifting the iconic computers away from Intel processors to powerful new in-house chip designs.

At Apple’s recent developers’ conference, the company unveiled an aggressive expansion of its CarPlay platform, which connects iPhones to cars to include every display in the cockpit.

Apple has also turned its attention to augmented and virtual reality. Apple CEO Tim Cook recently hinted that AR/VR glasses are on the way. “I could not be more excited about the opportunities,” he said to China Daily. “Stay tuned and you will see what we have to offer.”