Facebook shares are posting their biggest single-day gain since going public, jumping 21 percent after the social media company made inroads in mobile advertising and posted accelerating growth in overall ad revenue.
Chipmaker Advanced Micro Devices Inc. has said it will cut nearly 1,800 jobs, about 15 percent of its workforce, by the end of the year in order to reduce spending in the face of dwindling sales.
EBay said Tuesday that its third-quarter net income grew 22 percent, helped by higher revenue at its PayPal payments service and the marketplaces business that includes eBay.com.
Shares of cloud-computing firm Workday rocketed higher in their first day of trading on the New York Stock Exchange.
Wells Fargo posted record earnings in the third quarter as the bank increased mortgage lending and pocketed more fees.
Troubled Zynga’s stock is trading near its lowest level ever Friday after the online game maker behind “FarmVille” forecast a third quarter loss amid weak demand for its Web-based games. It’s also taking a hefty charge related to its March acquisition of mobile game company OMGPop.
Facebook’s stock was down sharply after an article in the financial magazine Barron’s said it is “still too pricey” despite a sharp decline since its initial public offering.
Apple Inc. said Monday that it sold more than 5 million units of the iPhone 5 in the three days since its launch, fewer than analysts had expected.
Intel is cutting its third-quarter revenue forecast due to softer-than-expected demand amid difficult economic conditions.
In an SEC filing late Tuesday, Facebook said that founder and CEO Mark Zuckerberg “has no intention to conduct any sale transactions… for at least 12 months.”