Reuters - Video

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

9/11

Twitter to raise up to $1.44bln; Stocks gain

Thursday, October 24, 2013 - 02:05

Oct. 24 - Summary: Twitter plans IPO with lower-than-expected $11 billion valuation; Microsoft easily beat forecasts thanks to Office sales to corporate customers; Amazon.com sales rise and net loss falls. Conway G. Gittens reports.

▲ Hide Transcript

View Transcript

Wall Street bounces back but not enough to send the S&P 500 to another lifetime high. It was the Dow that took the lead this time with its best one-day gain in just over a week. Details about Twitter's IPO continue to drip out a few characters at a time. The micro-blog plans to raise up to $1.44 billion in an offering that will value the company just under $11 billion. Twitter plans to sell 70 million shares between $17 and $20, according to an updated filing. Twitter already announced it will debut on the NYSE. Trading is expected to start sometime in November. Office proved to be big winner for Microsoft last quarter. The tech company easily beat earnings forecasts and sales jumped to a more than expected $18.5 billion. Sales of its flagship Office software to enterprise customers more than offset a weak showing for its Windows business. Amazon.com lost far less money in the third quarter than it did the same time last year. Sales rose as the company expands beyond just retail to a broader tech company selling devices and digital media downloads. An aggressive movement into overseas markets is also bringing in the cash. Carl Icahn is advancing his plan to unlock value in Apple. In a letter to CEO Tim Cook, posted on Icahn's new Shareholders Square Table website, the billionaire investor says Apple shares could be worth $1,250 within three years, if Apple heeds his call to do a $150 billion buyback. Shares of Apple climbed more than a full percent on word Icahn plans to increase his stake. Ford topped profit forecasts and raised its outlook for the year as foreign demand picked up and Europe looks less worse. On the economic docket, jobless claims were down less than expected, but glitches in California continue to skew the numbers. In Europe - stocks rallied with investors pleased with the latest batch of earnings.

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

Twitter to raise up to $1.44bln; Stocks gain

Thursday, October 24, 2013 - 02:05

Top News »

Retirement »

Back to work- in retirement Back to work- in retirement

Wed, Oct 15, 2014 - (2:09)

Investing 201 »

Bond investors brace for the end of Fed stimulus Bond investors brace for the end of Fed...

Fri, Oct 10, 2014 - (4:03)

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)

Money Clip »

Will Apple Pay transform mobile payments? Will Apple Pay transform mobile payments?

Thu, Oct 16, 2014 - (2:45)

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)

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)

Moving Pictures »

Dance of the northern lights Dance of the northern lights

Mon, Oct 20, 2014 - (1:08)

Images of September Images of September

Wed, Oct 01, 2014 - (1:00)

Still missing – MH370 Still missing – MH370

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

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)

Images of August Images of August

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

"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)