Tech Five: Twitter hits new low off flat user growth

February 12 00:28 2016

Shares of Twitter and Zynga are getting slammed during early Thursday trading as Wall Street prepares for another round of tech earnings after the bell.twitter-ipo-nyse-7nov2013-lateral-sign

Twitter. Shares of the social network hit a new low Thursday, down nearly 4%, as Wall Street hammers the company for flat growth among its monthly active user base. During the fourth quarter, Twitter generated $710 million in revenue, in line with forecasts.

Zynga. A fourth quarter loss of $46.9 million sent shares of the social games company down more than 15%. The company’s average monthly users plunged 30% to 68 million for the quarter.

Pandora. The online streaming music giant reports fourth quarter earnings after the markets close Thursday. Analysts polled by S&P Global Market Intelligence project earnings of $326.86 million with earnings of 7 cents a share.

Activision-Blizzard. Did the video game publisher enjoy a bountiful holiday season? Activision reports fourth quarter earnings after the bell. The publisher is expected to report earnings of 86 cents per share on revenue of $2.195 billion.

Cisco. Shares of the networking giant surged after beating Wall Street estimates on earnings and bumping up its stock repurchase program by $15 billion. Cisco had already authorized up to $97 billion in buybacks.

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