Market recap: Twitter earnings miss sends stock price tumbling

October 26, 2019 at 4:41AM
In this Sunday, Oct. 20, 2019, photograph, a long row of unsold 2019 Model S sedans sits at a Tesla dealership in Littleton, Colo. (AP Photo/David Zalubowski) ORG XMIT: MER6162905f84ffaba1db19e4666934e
Solid quarterly profits posted by automaker Tesla drove the company’s stock prices 14.7% higher. (The Minnesota Star Tribune)

Injured bird: Twitter dove 19% to $31.44 Thursday after reporting disappointing third-quarter profit and revenue and giving investors a weak revenue forecast for the fourth quarter. Shares closed Friday at $30.30.

Charging ahead: Tesla surged 14.7% to $292.30 Thursday after the electric carmaker surprised Wall Street with a solid profit. Analysts expected the company to report another loss as it struggles to increase sales. The company took several cost-cutting measures, including layoffs, during the quarter. Shares closed the week at $328.13.

Gaining altitude: Solid profits helped lift Southwest Airlines 5.4% higher to $56.12 Thursday. It reported strong travel demand and rising ticket prices. Shares closed Friday at $56.74.

Cautious customers: Texas Instruments fell 6.4% to $120.39 Tuesday after saying its customers have become far more cautious, with trade tensions a big factor. It also trimmed its outlook. Shares closed the week at $120.51.

Healthy profit: Biogen soared 26.1% to $281.87 Tuesday after the biotechnology giant handily beat Wall Street's third-quarter forecasts and said it will ask regulators to approve a treatment for Alzheimer's. Shares closed Friday at $288.04.

Turbulent stock: Boeing fell 3.8% to $330.85 Monday as Congress is ramps up scrutiny of its Max 737 aircraft. Its CEO is scheduled to testify to a House committee on Oct. 30. Shares closed the week at $339.83.

news services

FILE - In this Sept. 18, 2019, file photo a screen shows the price of Twitter stock at the New York Stock Exchange. Twitter reports financial earns on Thursday, Oct. 24. (AP Photo/Mark Lennihan, File)
FILE - In this Sept. 18, 2019, file photo a screen shows the price of Twitter stock at the New York Stock Exchange. Twitter reports financial earns on Thursday, Oct. 24. (AP Photo/Mark Lennihan, File) (The Minnesota Star Tribune)
about the writer

about the writer

More from Business

See More
Hennepin Healthcare Clinic and Specialty Center,l 8th Street between Park Av and Chicago Av.
The Minnesota Star Tribune

Minneapolis-based Hennepin Healthcare says it also will suspend contributions to some worker retirement plans while pausing $24 million in capital projects.

The newly renovated Parkway Theater is next door to the new restaurant El Burrito Mercado.
card image