Tech Five: Facebook, Nokia stock soaring
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Tech Five: Facebook, Nokia stock soaring
Post to FacebookTwo tech companies are surging early in midday trading. Let's take a look at the technology stocks to watch Thursday:
Facebook. Shares of the social network are up 7% -- double its IPO price of $38 -- as mobile ad revenue continues to spur growth. The company reported a 61% bump in revenue[1] and more than doubled its profit during the second quarter. Meanwhile, mobile advertising revenue skyrocketed 151% compared to the same time last year.
Nokia. The sale of its handset business to Microsoft seems to be paying off. Shares of Nokia are up 7.5% after boosting its forecast on profit for the year, AP reports[2]. Although revenue dipped during the second quarter, profit jumped 20%. The company closed its deal to sell its handset unit to Microsoft for more than $7 billion in April.
Amazon. The online retailing titan reports second quarter earnings after the markets close, just as its first entry into the smartphone market makes its debut. Amazon is predicted to report a loss of 15 cents per share off $19.3 billion in revenue, according to estimates compiled by Bloomberg[3].
Pandora. Shares of the streaming music service jumped 1.6% ahead of its second quarter earnings announcement Thursday. Analysts expect quarterly revenue of $218 million with an earnings per share of 3 cents.
Twitter. The social media company becomes the latest tech firm scrutinized for a lack of diversity after releasing workforce figures[4] Wednesday. In the U.S., nearly 90% of Twitter's employees are white or Asian, while men make up 70% of all staff.
Follow Brett Molina on Twitter: @brettmolina23[5].
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References
- ^ http://www.usatoday.com/story/tech/2014/07/23/facebook-earnings/13045633/ (rssfeeds.usatoday.com)
- ^ http://hosted.ap.org/dynamic/stories/E/EU_FINLAND_EARNS_NOKIA?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2014-07-24-05-22-36 (hosted.ap.org)
- ^ http://investing.businessweek.com/research/stocks/earnings/earnings.asp?ticker=AMZN (investing.businessweek.com)
- ^ http://www.usatoday.com/story/tech/2014/07/23/twitter-diversity-hiring/13060901/ (rssfeeds.usatoday.com)
- ^ http://twitter.com/brettmolina23 (twitter.com)