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Stocks flat; Twitter lowers guidance

Wednesday, February 10, 2016 - 01:31

Stocks closed flat after Janet Yellen offered a mixed view on the interest rate outlook. Twitter saw a decline in monthly active users last quarter . Bobbi Rebell reports.

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Stocks ended Wednesday's session relatively flat, cutting intraday gains. Fed chair Janet Yellen testified that the central bank is unlikely to reverse its plans to further raise interest rates. Ross Gerber of Gerber Kawasaki Wealth and Investment Management: SOUNDBITE: ROSS GERBER, CEO, GERBER KAWASAKI WEALTH AND INVESTMENT MANAGEMENT (ENGLISH) SAYING: "I think investors need to be incredibly cautious right now but also take advantage of the opportunity. The negativity is way to much, and what investors need to do is a strategy called dollar cost averaging." Twitter shares shot higher. It changed the way it displays its timeline. Users will first see prioritized tweets that Twitter deems they're more likely to interact with. After the closing bell Twitter reported earnings that were better than forecasts. But the microblogging site saying they saw a decline in monthly active users in the 4th quarter. Stocks of cable broadcasters were among the day's biggest losers on the S&P 500. Time Warner's quarterly revenue dropped amid disappointing subscription revenue growth at its HBO and Turner units. At least six analysts cut their price targets on Disney one day after the Mouse House reported declines in profit and subscribers at its ESPN sports network. Shares of solar companies fell after solar panel installer SolarCity warned that growth would slow this year. Staples and Office Depot got the green light from the EU for their $6.3 billion merger, sending both shares higher. In Europe, solid corporate earnings helped stocks snap a seven-day losing streak.

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Stocks flat; Twitter lowers guidance

Wednesday, February 10, 2016 - 01:31