Twitter Stock Plummets as Q1 Results Leak, Strong Results for VW in the Aftermath of Chairman’s Exit
April 29, 2015 7:30 am
The Dow and the S&P500 closed higher yesterday, at 18,110.14 and 2,114.76 respectively. However, the Nasdaq closed down by 0.10% at 5,055.50, with the leak of Twitter’s first quarter results sending the company’s stock price plummeting. Twitter’s original intention had been to release its figures for Q1 2015 after the market close. However, the firm was hoisted on its own petard after data firm Selerity tweeted the results before the close of trading, with the news that quarterly revenue had missed expectations sending investors scrambling. The company moved quickly to try and suspend trading, but the damage had already been done, as a flurry of trading saw Twitter shares drop by as much as 26% at one point. The stock closed down by around 18%; Twitter says it is investigating the source of the leak, but for its part Celerity is claiming that there was no leak and that their information ‘was sourced from Twitter’s investor relations website’.
In the UK, Barclays shares have fluctuated somewhat this morning after revelations that the firm has earmarked another £800 million in preparation for potential Forex-related penalties from UK and US regulators. The bank is yet to reach a settlement regarding alleged Forex trading misdemeanours – last year six major banks received fines for colluding together regarding Forex rates. Barclay’s stock is currently down by around 0.6%. Over in Europe Volkswagen shares are up this morning by around 1.7% after the firm posted strong results for the first quarter of 2015, with a 20.6% increase in net profit. The encouraging figures are likely to come as welcome news to investors, who were blind-sided by the sudden exit of VW Chairman Ferdinand Piech earlier this week.
The Dow and the S&P500 closed higher yesterday, at 18,110.14 and 2,114.76 respectively. However, the Nasdaq closed down by 0.10% at 5,055.50, with the leak of Twitter’s first quarter results sending the company’s stock price plummeting. Twitter’s original intention had been to release its figures for Q1 2015 after the market close. However, the firm was hoisted on its own petard after data firm Selerity tweeted the results before the close of trading, with the news that quarterly revenue had missed expectations sending investors scrambling. The company moved quickly to try and suspend trading, but the damage had already been done, as a flurry of trading saw Twitter shares drop by as much as 26% at one point. The stock closed down by around 18%; Twitter says it is investigating the source of the leak, but for its part Celerity is claiming that there was no leak and that their information ‘was sourced from Twitter’s investor relations website’.
In the UK, Barclays shares have fluctuated somewhat this morning after revelations that the firm has earmarked another £800 million in preparation for potential Forex-related penalties from UK and US regulators. The bank is yet to reach a settlement regarding alleged Forex trading misdemeanours – last year six major banks received fines for colluding together regarding Forex rates. Barclay’s stock is currently down by around 0.6%. Over in Europe Volkswagen shares are up this morning by around 1.7% after the firm posted strong results for the first quarter of 2015, with a 20.6% increase in net profit. The encouraging figures are likely to come as welcome news to investors, who were blind-sided by the sudden exit of VW Chairman Ferdinand Piech earlier this week.
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