Gerry's Feed
Nov 8, 2013

Twitter shares soar in frenzied NYSE debut

NEW YORK/SAN FRANCISCO (Reuters) – Twitter Inc shares jumped 73 percent in a frenzied trading debut that drove the seven-year-old company’s market value to around $25 billion and evoked the heady days of the dot-com bubble.

The strong performance on Thursday is encouraging for the venture capitalists who have backed other consumer Web startups, such as Square or Pinterest, though it sounded alarm bells for some investors who cautioned that the froth was unwarranted.

Nov 7, 2013

Twitter shares nearly double in frenzied NYSE debut

NEW YORK/SAN FRANCISCO (Reuters) – Twitter Inc (TWTR.N: Quote, Profile, Research) shares soared as much as 92 percent on their first day of trading on the New York Stock Exchange, an extraordinary debut that drove the seven-year-old company’s value to more than $25 billion and evoked comparisons to the dot-com bubble of the late 1990s.

The stock opened at $45.10 a share shortly before 10:50 a.m. (1550 GMT) on Thursday, up from the initial public offering price of $26 set late on Wednesday. It quickly hit a high of $50 before retreating to $47.70 by the afternoon, up 83 percent.

Nov 7, 2013

Twitter shares indicated at between $42 and $46 a share

Nov 7 (Reuters) – Twitter Inc shares were indicated
at between $42 and $46 in a sign they would rocket higher in
opening trade as investors bet on potential growth at the
money-losing social media company.

If the shares start trading at $42, that would amount to a
62 percent jump from the $26 initial public offering price set
on Wednesday, making it the biggest in a series of huge opening
day “pops.”

Nov 7, 2013

Twitter set for volatile debut after IPO raises at least $1.8 bln

Nov 7 (Reuters) – Twitter Inc could face volatile
trade in its debut Thursday on the New York Stock Exchange,
analysts said, but they remained enthusiastic after the
money-losing social media company priced its IPO above the
expected range.

The microblogging network priced 70 million shares at $26 on
Wednesday evening, above the targeted range of $23 to $25, which
had been raised once before. The IPO values Twitter at $14.1
billion, with the potential to reach $14.4 billion if
underwriters exercise an over-allotment option.

Nov 7, 2013

Twitter prices above range to raise at least $1.8 billion

By Olivia Oran and Gerry Shih

(Reuters) – Twitter Inc priced its initial public offering above its expected range to raise at least $1.8 billion, in a sign of strong investor demand for the most highly anticipated U.S. public float since Facebook Inc.

The microblogging network priced 70 million shares at $26, above the targeted range of $23 to $25, which had been raised once before.

Nov 5, 2013

Condo vote stirs passions over San Francisco’s haves and have-nots

SAN FRANCISCO, Nov 5 (Reuters) – The plans for the 8
Washington condominium project show 134 luxury units rising from
San Francisco’s famed waterfront – a gleaming testament to a
local economy in roaring good health.

But not everyone in this booming tech hub is cheering.

San Francisco voters on Tuesday will decide whether to
proceed with 8 Washington, the focus of a bitter, two-year-long
political tussle that has been framed, accurately or not, as a
proxy fight between the growing camps of the haves versus the
have-nots.

Nov 4, 2013

Twitter boosts IPO range amid strong investor demand

NEW YORK/SAN FRANCISCO (Reuters) – Twitter Inc raised the top end of its IPO price range by 25 percent and will close its books a day early, signaling strong demand for the most closely watched Silicon Valley debut since Facebook Inc last year.

Amid a red-hot market for initial public offerings and soaring equity markets, Twitter raised its price range to $23 to $25 per share on Monday, but kept the offering size at 70 million shares. That means it will raise up to $2 billion if an overallotment option of 10.5 million shares is exercised.

Nov 1, 2013

Some Wall Street brokerages push up Twitter IPO targets

SAN FRANCISCO (Reuters) – Morningstar on Friday joined three other brokerages in setting price targets for Twitter Inc well above its IPO price range, suggesting the stock has room to rise at least 30 percent.

The Wall Street brokerage on Friday set a price target of $26 a share, compared to the initial public offering’s $17 to $20 indicative range. Last month, Pivotal Research had set its price target for the social media micro-messaging company at $29 a share, SunTrust at $50 and Topeka Capital at $54.

Nov 1, 2013

Analysis – Facebook’s ad warning sounds a note of caution for Twitter

SAN FRANCISCO (Reuters) – Facebook Inc’s investors and other proponents of the social network like to say that it captures one of the greatest concentrations of human attention on the planet and thus offers a boundless opportunity for advertisers.

But Facebook Chief Financial Officer David Ebersman on Wednesday cast doubt on those assertions by suggesting that there may be a limit on how many ads Facebook can show users before they get turned off.

Nov 1, 2013

Facebook’s ad warning sounds a note of caution for Twitter

SAN FRANCISCO, Oct 31 (Reuters) – Facebook Inc’s
investors and other proponents of the social network like to say
that it captures one of the greatest concentrations of human
attention on the planet and thus offers a boundless opportunity
for advertisers.

But Facebook Chief Financial Officer David Ebersman on
Wednesday cast doubt on those assertions by suggesting that
there may be a limit on how many ads Facebook can show users
before they get turned off.