Twitter was the bitten dog on the stock exchange in New York on Thursday. The shares went falling because of disappointing results. Investors on Wall Street were able to assess a large amount of earnings report. In addition, Facebook’s performance was in good working order.
After historical closings a day earlier, the key benchmarks ended mixed. The Dow Jones index indexed 0.4 percent higher at 21,796.55 points. The broad S & P 500 dropped 0.1 percent to 2475.42 points and the NASDAQ technology market lost 0.6 percent at 6382.19 points.
Facebook gains almost 3 percent. The number of users of the world’s most popular social networking site rose by more than 17 percent year-on-year. In addition, ads brought a lot more money to the end. Twitter failed to add any users in the past quarter. Investors sent their share price more than 14 percent lower.
The list of companies that opened the books was again long. Cable and entertainment company Comcast (plus 0.2 percent) benefited from the success of the films and theme parks. Telecom group Verizon (plus 7.7 percent) tightened more users, while Procter & Gamble’s laundry and care equipment (plus 1.6 percent) declined stable sales in the second quarter.
Oil company ConocoPhillipps performed a little better than expected and added 2.2 percent. PayPal jumped 2.3 percent after the payment company adjusted its expectations for the whole year upwards.
Automobile company Fiat Chrysler saw its sales decline in the major US market and lost 0.6 percent. Chemical company Dow Chemical managed to achieve more sales, helped by the acquisition of silicone division Dow Corning, but lost 0.5 percent.
Delta Air Lines also lost more than 2 percent. The airline takes a 10 percent interest in French-Dutch Air France-KLM, as well as the Asian industry director China Eastern.
The Swiss bank UBS has seen a strong increase in Q2 earnings compared to a year earlier. This was revealed on Friday. The financial group that benefited from more active customers and rising interest rates. Also, competitor Credit Suisse did good business.
UBS saw earnings 13.5 percent higher at 1.2 billion Swiss francs. That’s converted slightly over one billion euros. Market experts calculated in average on a result of 800 million francs.
Performance on UBS’s asset management and business banking operations continued. The aforementioned division benefited from the improved sentiment of investors. The business banking branch was somewhat affected by negative exchange rate effects, but managed to catch up by raising higher advisory rates, for example.
Competitor Credit Suisse also did better than analysts had provided. Profit in the second quarter came to 303 million francs, which amounted to 294.2 million francs. Its CEO emphasized that the bank is halfway through the implementation of a three-year strategic plan, focusing specifically on asset management performance.