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Market review: Twitter shares up as user numbers exceed forecasts

Meanwhile Alphabet, the parent of internet search giant Google, fell 3.7% Tuesday after reporting weak revenue growth for its fourth quarter.

February 8, 2020 at 7:08AM
The point, Twitter said, is to allow advertisers to encourage discussion around certain subjects, but not directly influence elections. (Dreamstime/TNS) ORG XMIT: 1491132
The point, Twitter said, is to allow advertisers to encourage discussion around certain subjects, but not directly influence elections. (Dreamstime/TNS) ORG XMIT: 1491132 (The Minnesota Star Tribune)

User bounce

Shares in Twitter jumped 17% to $39.19 Thursday after the social media company said revenue and user numbers exceeded forecasts in the latest quarter, though profit fell as expenses rose. Shares closed the week at $37.03.

Search error

Alphabet, the parent of internet search giant Google, fell 3.7% to $1,430.38 Tuesday after reporting weak revenue growth for its fourth quarter. The company's revenue surged 18%, but still fell short of Wall Street's expectations. Shares closed the week at $1,479.23.

Steaming ahead

Cruise-ship operator Royal Caribbean climbed 2.9% to $119.82 Tuesday after taking tougher measures to screen and restrict passengers amid the virus outbreak, including canceling eight cruises in China. Shares closed Friday at $111.55.

Shrinking medicine cabinet

Merck fell 3% to $85.71 Wednesday after the drugmaker reported weak fourth-quarter revenue and said it will spin off some of its operations, including the women's health division. Shares closed the week at $85.08.

Busted tires

Ford slumped 9.7% to $ 8.28 Wednesday after the automaker reported weak fourth-quarter earnings to cap off a disappointing year of slowed sales, a botched SUV launch and big pension expenses. Shares closed Friday at $8.11.

Store closing bounce

Macy's rose 2.7% to $16.91 Wednesday after the department store giant said it will cut 2,000 corporate jobs and close 125 of its least productive stores. The store closures represent about one fifth of Macy's current total. Shares closed the week at $16.40.

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FILE - In this June 20, 2016 file photo, the Royal Caribbean cruise ship Empress of the Seas heads out of PortMiami, in Miami Beach, Fla. Royal Caribbean says it's now canceled eight cruises out of China through March 4, 2020 and is enacting measures to keep guests and crew safe from the virus outbreak that began in China. The number of cruise cancellations is increasing, as Royal Caribbean had announced last week that it was cancelling three cruises through Feb. 8. (AP Photo/Lynne Sladky, File)
Royal Caribbean shares rose after the cruise-ship operator toughened virus-screening measures. (The Minnesota Star Tribune)
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