Reuters - Video

EDITION: U.S. | U.K. | IN

Top News

Facebook mobile strategy goes viral

Wednesday, July 24, 2013 - 02:20

July 24 - Summary: Mobile growth helps Facebook top sales and profit forecasts; Boeing, Ford lift full-year outlooks but Caterpillar cuts view; Obama tries to re-energize economic policy; Stocks stall. Conway G. Gittens reports.

▲ Hide Transcript

View Transcript

Facebook swung to higher-than-anticipated quarterly profits and sales. It appears Facebook is getting mobile strategy right. Mobile made up more of total ad revenues than it did the prior quarter. One other metric of note - the monthly average number of users logging on to the social network on their phones jumped 51 percent from the same time last year. The response was bullish - the stock immediately surged above $31 in after-hours trade - a level not breached since February. Turning to manufacturing: Boeing raised its outlook after demand for 787 Dreamliner jets and foreign orders for military aircraft pushed results ahead of the consensus. Ford also boosted full-year guidance. Higher U.S. truck sales, strong demand in China, and a surprise smaller-than-expected loss in Europe drove the automaker to a forecast topping quarter. But Caterpillar slashed its outlook for the year. The problem: a slowdown in the mining industry caused profits to crater by more than 43 percent. That prediction gave investors little reason to buy stocks. The S&P 500 had its first two-day drop in a month. The Nasdaq was basically unchanged. Google is updating its nexus 7 tablet. The latest version is thinner than its predecessor and comes with higher screen resolution. The cut-throat priced tablet hits the market at a time when Apple revealed a 20 percent drop in iPad sales last quarter, and Microsoft recently slashed prices on the Surface because of soft demand. New home sales hit a 5-year high. Meanwhile, President Obama is trying to re-energize his economic agenda - starting with a pledge: U.S. PRESIDENT BARACK OBAMA (ENGLISH) SAYING: "The only thing I care about is how to use every minute of the remaining 1276 days of my term to make this country work for working Americans again." Though short on details, The White House is calling on Republicans to work with the President, who wants to spend on education and infrastructure in order to strengthen the economy and bring down unemployment. And speaking of a better economy, a survey of euro zone private businesses showed growth for the first time in two years - that was enough to send European stocks to an eight-week closing high.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Facebook mobile strategy goes viral

Wednesday, July 24, 2013 - 02:20

Most Popular »

Investing 201 »

Arian Foster = BlackBerry? Arian Foster = BlackBerry?

Fri, Oct 25, 2013 - (3:16)

Don’t miss these red flags for IPOs Don’t miss these red flags for IPOs

Thu, Oct 10, 2013 - (2:34)

Copycat currency trading Copycat currency trading

Wed, Oct 02, 2013 - (2:28)

When to dump a winner When to dump a winner

Tue, Sep 24, 2013 - (1:55)

Where gold might again attract Jim Rogers Where gold might again attract Jim Rogers

Thu, Sep 19, 2013 - (2:05)

Why savings interest rates won't budge Why savings interest rates won't budge

Fri, Sep 13, 2013 - (2:09)

Buy local? ETFs try the trend Buy local? ETFs try the trend

Thu, Sep 05, 2013 - (2:42)

The better bond funds The better bond funds

Wed, Aug 07, 2013 - (2:40)

Best bargain in 40 years? European stocks Best bargain in 40 years? European stocks

Thu, Aug 01, 2013 - (2:24)

Invest like an activist Invest like an activist

Fri, Jul 26, 2013 - (2:49)

Money Clip »

3 things to do before disaster strikes 3 things to do before disaster strikes

Wed, Sep 18, 2013 - (1:39)

Your must-do money list Your must-do money list

Wed, Sep 11, 2013 - (1:24)

The worst "best" financial advice The worst "best" financial advice

Wed, Sep 04, 2013 - (1:42)

Forget gold: The case for REITs Forget gold: The case for REITs

Fri, Apr 26, 2013 - (1:19)

3 rules for buying a house now 3 rules for buying a house now

Thu, Apr 18, 2013 - (1:39)

“Stalking” your dream home - Money Clip “Stalking” your dream home - Money Clip

Wed, Mar 27, 2013 - (2:50)

3 hidden tax deductions - Money Clip 3 hidden tax deductions - Money Clip

Thu, Mar 21, 2013 - (1:33)

Moving Pictures »

Still missing – MH370 Still missing – MH370

Fri, Sep 05, 2014 - (2:05)

Images of August Images of August

Fri, Aug 29, 2014 - (1:00)

Burning Together Burning Together

Mon, Sep 01, 2014 - (2:23)

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, Aug 22, 2014 - (3:12)

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, Aug 11, 2014 - (2:27)

Burned memories Burned memories

Fri, Aug 08, 2014 - (3:02)

Images of July Images of July

Thu, Jul 31, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, Jul 11, 2014 - (1:00)

A refugee in America gives back A refugee in America gives back

Thu, Jul 03, 2014 - (3:25)

A long search for refuge A long search for refuge

Fri, Jun 20, 2014 - (3:04)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, Feb 19, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, Jan 10, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, Aug 29, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, Aug 29, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, Aug 05, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, Dec 17, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sat, Dec 08, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Sun, Dec 09, 2012 - (10:39)