Twitter, LinkedIn and GoPro all reported strong earnings after the closing bell on Thursday; Stocks turned positive for the year. Bobbi Rebell reports.
After hour earnings led by Twitter: revenues beating forecasts in the 4th quarter, but the pace of user growth was the slowest in several quarters. Linkedin results beating forecasts, quartelry revenue jumped 44 percent. Go pro going strong. The action camera company's results were better-than-forecasts. Revenue surged 75 percent thanks to strong sales of those popular wearable cameras, which were up 35 percent in 2014. Rupert Murdoch's News Corp. second quarter earnings in line with forecasts. Revenues were up about two percent, helped by its book publishing and real estate businesses. But a miss for Pandora, sending its stock plummeting in after hours trading. Activision Blizzard also with a losing report, and lowering its outlook. Stocks are back in positive territory for the year thanks to gains on Thursday. Energy shares lifting the major indexes. Also providing a big lift: Pfizer's $15 billion deal to buy Hospira. The 39% premium sending shares of both stocks higher. Michael Kors posting disappointing third quarter results and warned of lower-than-expected profits in the current quarter, putting its stock out of fashion with investors. Slashing prices worked for Sprint. It added more wireless subscribers, and its quarterly revenue fell less than expected. Weekly jobless claims rose modestly last week. Manhattan Venture Partners chief economist Max Wolff: SOUNDBITE: MAX WOLFF, CHIEF ECONOMIST, MANHATTAN VENTURE PARTNERS (ENGLISH) SAYING: "We did see a pop up in new unemployment claims which is not a great sign. The expectation generally, though, is that we're going to continue to see strong numbers out of the U.S. macroeconomy through Q1 and Q2, and, then, the weakness in the rest of the world is going to catch up with us." Across the pond, the major european country indexes closed mostly higher.