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Facebook, Inc. FB stock was trading lower by 20 percent early Thursday morning. The social media giant reported its second-quarter results which fell short of expectations across multiple metrics, including revenue, global daily active users, North American DAUs, and average revenue per user. Management also guided its revenue to "decline by high single-digit percentages from prior quarters."
Xilinx, Inc. XLNX was trading higher by 8 percent after the developer of highly flexible and adaptive processing platforms reported its second-quarter results. The company said it earned 74 cents per share in the fiscal first quarter on revenue of $684.37 million versus expectations of 73 cents per share and $673.97 million. Management also guided its fiscal second-quarter sales guidance to a range of $700-$720 million versus expectations of $679.8 million.
Arconic Inc ARNC was trading higher by more than 10 percent in reaction to a report suggesting the company is evaluating buyout offers it received from multiple private equity firms.
Quaclomm, Inc. QCOM was trading higher by more than 6 percent after the semiconductor and telecommunications equipment company reported its fiscal third-quarter report. The company said it earned $1.01 per share in the quarter on revenue of $5.6 billion versus expectations of 71 cents per share and $5.19 billion. The company also terminated its $44 billion bid to acquire NXP Semiconductors NV NXPI and announced a $30 billion share buyback program.
Twitter Inc TWTR was trading lower by around 3 percent in reaction to comments from President Donald Trump. The president said in a Tweet the administration will look into allegations of "shadow banning" notable Republicans on the platform. The stock could also be trading lower in sympathy with social media peer Facebook.
Related Links:
32 Stocks Moving In Thursday's Pre-Market Session
A Peek Into The Markets: US Stock Futures Mostly Lower Ahead Of Earnings, Economic Reports
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