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)
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