Twitter's share prices have nearly tripled since the company
went public in November. On Thursday Twitter rose nearly five
percent, its fifth consecutive day of gains.
To date, the company's share price has risen 182 percent and
gained a $39.9 billion market capitalization, overtaking both
Target and Time Warner Cable. The recent run up came despite
skepticism from most stock analysts as investors put their faith in
the company's future.
In other news around the markets:
General Motors and SAIC Motor Corp, its Chinese partner, are
recalling over 1.46 million Buick and Chevrolet cars produced
between 2006 and 2011 as they've been found to have defective
fuel-pump brackets. The recall is expected to begin on December
30th. With Anti-government protests escalating to violent
confrontations between police and protesters, the Thai government
has called on the military to supervise the country's February
elections. Military forces will protect both voters and candidates
as the nation goes ahead with an election which the opposition has
refused to support. While on vacation with his family, US President
Barack Obama signed a bipartisan budget deal which will prevent
another government shutdown for at least the next two years. The
deal is expected to ease the "sequester" budget cuts while still
trimming government spending. The President also approved the
annual defense policy bill, allowing the Pentagon a $526.8 billion
budget in 2014. On Friday, a car bomb exploded outside an upmarket
hotel in central Beruit and killed Mohamad Chata, the nation's
former finance minister among others. Preliminary reports show at
least five people have been killed and 15 were critically injured.
No groups have claimed responsibility for the attack yet.
Asian markets climbed higher, the Shanghai composite gained 1.36
percent and the Shenzhen composite was up 1.69 percent. The Hang
Seng index gained 0.27 percent and the South Korean KOSPI was up
European markets were up across the board, the UK's FTSE was up
0.54 percent and the eurozone's STOXX 600 gained 0.57 percent. The
German DAX was up 0.66 percent and France's CAC 40 was up 0.72
Energy futures were mixed, Brent futures were down 0.16 percent
and WTI futures rose 0.08 percent. Gold lost 0.10 percent and
silver gained 1.85 percent. Industrial metals were also mixed with
copper down 0.43 percent and zinc up 0.88 percent.
The euro was strong against the dollar, up 0.83 percent and the
pound gained 0.53 percent against the greenback. The dollar was
flat against the yen and lost 0.27 percent against the Australian
Stocks moving in the Premarket included:
Carnival Corp (NYSE:
) gained 1.34 percent in premarket trade after rising 3.92 percent
over the past week The Coca-Cola Co (NYSE:
) was up 0.32 percent in premarket trade after gaining 0.75 percent
on Thursday Health Care REIT (NYSE:
) lost 2.13 percent in premarket trade after rising 0.89 percent
over the past five days Bank of America Corp (NYSE:
) fell 0.32 percent in premarket trade after losing 0.32 percent on
No notable earnings releases expected on Friday.
Friday will be a quiet day for economic data with releases
including the Spanish current account, French PPI, and Brazil's
debt to GDP ratio.
For a recap of Thursday's market action, click .
Tune into Benzinga's pre-market info show with Dennis Dick and
(c) 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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