The New York Times Company's stock plummeted Thursday, after the company reported a surprise third-quarter loss, driven by a 9% decline in advertising revenue.
Print ad revenue sank more than 10%, while digital ad sales fell 2% "largely due to the challenging economic environment," and a "complex and fragmented digital advertising marketplace," the company said, adding that it expects the trend to continue during the fourth quarter.
The weakness in ad sales resulted MOREHibah Yousuf - Oct 25, 2012 4:45 PM ET
Facebook's stock surged more than 19% Wednesday, marking its best one-day gain since the company went public by far, as investors welcomed a healthy boost in sales.
The social media giant delivered third-quarter sales of almost $1.3 billion when it reported earnings after the closing bell Tuesday. That's up 24% from a year earlier.
In particular, investors were impressed by Facebook's ability to earn about $150 million from mobile, accounting for 14% MOREHibah Yousuf - Oct 24, 2012 4:01 PM ET
Advanced Micro Devices became the latest victim of the sluggish PC market Friday, after the chipmaker warned that third-quarter revenue could decline 10% from the previous quarter.
AMD's shares tumbled 14% following the warning.
The gloomy projection comes as the company faces "weaker than expected demand across all product lines caused by the challenging macroeconomic environment," and is far worse than what the company's management was originally expecting. In July, AMD said it MOREHibah Yousuf - Oct 12, 2012 5:40 PM ET
Wells Fargo posted a record profit of $4.9 billion for the third quarter as mortgage lending picked up, but weaker-than-expected revenue left investors disappointed.
The nation's largest mortgage lender said it originated $139 billion of mortgages during the third quarter, up 6% from a year earlier, as record low interest rates drove homeowners to refinance. But the low rates also weighed on the interest income that Wells Fargo earns on its loans and MOREHibah Yousuf - Oct 12, 2012 5:40 PM ET
Zillow's stock fell sharply Tuesday following the disclosure of previous correspondence between the company and the Securities and Exchange Commission regarding questions about the company's sales.
Shares of Zillow (Z), the real estate website, dropped as much as 10.2% in early trading, the biggest one-day decline since November, before trimming some of the losses. By the afternoon, Zillow was down about 4%.
The stock first began to fall after some written exchanges from August MOREHibah Yousuf - Oct 2, 2012 1:51 PM ET
Facebook's stock rallied almost 8% and closed at a 1-month high Wednesday, a day after CEO Mark Zuckerberg took an upbeat tone during his first public appearance since the company's botched stock market debut in May.
"I am really optimistic about our mobile monetization strategy," Zuckerberg said during an interview with TechCrunch founder Michael Arrington at the tech blog's Disrupt conference in San Francisco Tuesday.
The CEO cited the social media platform's high volume MOREHibah Yousuf - Sep 12, 2012 4:04 PM ET
Despite a stubbornly slow economic recovery at home and severe headwinds from Europe and Asia, U.S. companies are on track to deliver a tenth straight quarter of rising profits. But a closer look reveals some alarming trends.
With reports from more than 80% of the S&P 500 companies on the books, earnings are on pace to grow just 0.6% during the second quarter, the slowest since the third quarter of MOREHibah Yousuf - Aug 7, 2012 8:10 AM ET
Pivotal Research Group analyst Brian Wieser was the first analyst to assign a "sell" rating on Facebook back in May, when the social media day giant made its big (botched) public debut.
Later that month, as Facebook's stock declined and fell below his then price target of $30 per share, Wieser changed his rating to "hold."
But given the recent slide in Facebook's shares ahead of the company's first earnings report Thursday MOREHibah Yousuf - Jul 26, 2012 11:21 AM ET
Shares of eBay rallied nearly 10% Wednesday, hitting their highest level since January 2006, after the company topped earnings and sales expectations for the second quarter.
eBay (EBAY) CEO John Donahoe credited the solid performance to the successful turnaround of the company's e-commerce business, called eBay Marketplaces.
Revenue for e-commerce business jumped 9% from a year earlier to a record high of $1.8 billion.
eBay's PayPal unit also continued to post strong results, MOREHibah Yousuf - Jul 19, 2012 11:50 AM ET
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