Twitter has unsealed the documents for its planned initial public offering of stock and says it hopes to raise up to $1 billion in one of the year’s most eagerly awaited stock market debuts.
Pandora stock hit an all-time high Thursday in the wake of a court ruling that should help trim its songwriter royalty costs.
Facebook’s stock closed above $40 for the first time on Friday. The social network’s shares have gained 53 percent since July 24, when it reported strong growth in mobile ad revenue and a solid profit during its second quarter.
Billionaire investor Carl Icahn’s announcement that he had acquired a large but unspecified stake in Apple and that he had a “nice conversation” with CEO Tim Cook caused Apple’s market value to rise Tuesday by about $13 billion.
Facebook’s chief operating officer, Sheryl Sandberg, has sold $91 million worth of shares in the social networking company.
Facebook’s stock price has passed its $38 IPO price for the first time since its rocky initial public offering more than a year ago.
The world’s biggest online social network has been on a roll since it reported stronger-than-expected earnings on July 24. Investors are especially upbeat about its fast-growing mobile advertising revenue.
Several Bay Area stocks were among those losing ground Thursday. Apple Inc. was down more than $6 on the day, while Google stock was off more than $10 and Chevron slid some 2.5 percent.
Shares of Apple Inc. are setting a one-year low after news from a supplier hinted at a slowdown in iPhone and iPad production.
Shares of Oracle plummeted in Thursday trading a day after the enterprise software giant reported earnings that missed analysts’ expectations by a wide margin.