Daily Stock Updates: Twitter Inc (TWTR), Facebook Inc (FB), Apple Inc. (AAPL), Finish Line Inc (FINL)
Today’s only report was bad once again. Markit’s PMI preliminary report for September was 51.4 which missed expectations of 52.0. New orders and inventories declined. The report said that growth was only slightly faster than the first half. Economists have been expecting GDP growth to double in the second half, so this throws a monkey wrench into that forecast.
There are rumors once again surfacing that Twitter Inc (NYSE:TWTR) will be bought. This time Twitter is rumored to have interest from Google and Salesforce. The veracity of the rumors can be seen by the movement of the stock price. Given that the stock is up 18% on the report, it seems to hold merit.
Facebook Inc (NASDAQ:FB) has been reported to have manipulated viewing time for videos for 2 years, inflating the metric by 60% to 80%. The company didn’t count views of 3 seconds or less into watch-time average. This is a problem because it did count those views into the total views, so the real average watch time was much lower.
Apple Inc. (NASDAQ:AAPL) is testing out a Siri-based smart-home device similar to Alexa powered Echo made by Amazon. The device has moved from being in the research and development phase to the prototype phase. It is claimed to use facial recognition. Apple may be using the technology developed by the two companies it recently acquired: Emotient and Faceshift.
Finish Line Inc (NASDAQ:FINL) reported Q2 EPS of 53 cents which is in-line with expectations. Revenues were $509.4 million which were up 5.4% and beat estimates by 14.36 million. Comparable sales were up 5.1%. Comparable sales are expected to be up 3% to 5% in 2017. EPS is expected to be $1.50 to $1.56 in 2017.