Plus   Neg

Twitter Pulls Back Off Best Levels But Remains Firmly Positive

Shares of Twitter, Inc. (TWTR) have pulled back off their best levels of the day but continue to see considerable strength in late-day trading on Thursday. After reaching its best intraday level in well over a month, Twitter is currently up by 15.2 percent.

Twitter moved sharply higher in early trading after the social media giant reported third quarter results that exceeded analyst estimates on both the top and bottom lines.

The company reported adjusted third quarter earnings of $0.21 per share on revenues of $758.1 million compared to analyst estimates for earnings of $0.14 per share on revenues of $705.6 million.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Alibaba is upgrading its intellectual property system using blockchain technology, according to local news outlet Sohu. Alibaba Platform Management expects this to benefit mainly small and medium-sized enterprises, brands and entrepreneurs. The technology will be fully implemented in September, and thereafter, the company intends to expand it to the field of digital copyright protection. Electronics retailer Best Buy Co., Inc. (BBY) reported Thursday a 27 percent increase in profit for the first quarter from last year, which was impacted by restructuring charges, and higher revenues. Both adjusted earnings per share and revenues for the quarter topped analysts' estimates. The company also provides guidance for the second quarter and reiterated its outlook for the full-year 2020. While reporting financial results for the second quarter on Thursday, Hormel Foods Corp. (HRL) lowered its earnings and net sales guidance for the full-year 2019. For fiscal 2019, the company now projects earnings in a range of $1.71 to $1.85 per share, and net sales between $9.70 billion and $10.20...