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LinkedIn's profit jumps

Thursday, October 29, 2015 - 01:20

LinkedIn reported better-than-expected results. U.S. stocks fell amid mixed financial data. Bobbi Rebell reports.

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After the closing bell, LinkedIn reporting better than expected quarterly results, thanks to strong results in its recruitment services business, and its acquisition of training video company Lynda.com. Stocks gave back some of Wednesday's big gains amid mixed economic data. Interest sensitive financial and utilities stocks weighed on the market. Greywolf Execution Partners' Mark Newton: SOUNDBITE: MARK NEWTON, CHIEF TECHNICAL ANALYST, GREYWOLF EXECUTION PARTNERS (ENGLISH) SAYING: "Today, you're seeing a little back-and-filling in general in the market. Things have calmed down a little bit. We've had such a large move of late. The market's been up over ten percent in such a short period of time. So, stock indices have gotten fairly overbought." Economic growth slowed in the third quarter. Weekly jobless claims rose slightly, and pending home sales fell unexpectedly last month. The biggest takeover deal of the year is in the works. Pfizer is in early talks to buy Allergan. A deal would create the world's largest drugmaker. Allergan shot up. Pfizer fell. GoPro shares went south. Revenue rose less than expected due to weak demand for its new HERO4 camera. Investors betting Mead Johnson Nutrition will benefit from China's move to let couples have two kids instead of one. It sells Similac baby formula in China. MGM shares up. The casino operator is forming a real estate investment trust comprising ten of its properties. In Europe, banking stocks led shares lower.

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LinkedIn's profit jumps

Thursday, October 29, 2015 - 01:20