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Twitter stock jumps after results; analyst calls earnings 'major step in the right direction'
Shares of Twitter Inc. have soared 22% in premarket trading Thursday after the company delivered better-than-expected financial results and reported its first-ever quarter of GAAP profitability. "This quarter was a major step in the right direction that shows the monetization and ad growth machine at Twitter is finally heading in the right direction after years of a 'one step forward two steps back' strategy," GBH Insights analyst Daniel Ives wrote. "Overall, 4Q was a breath of fresh air for investors that have patiently awaited for this turnaround story to manifest after years of pain and it looks like the Twitter growth train is back on track." Ives believes that Twitter can benefit in the immediate term from changes that Facebook Inc. is making to its news feed, as these tweaks might be prompting publishers and advertisers to more seriously consider Twitter's platform. While he's more upbeat following the results, Ives kept his neutral rating on shares and noted that "clear execution/competitive challenges remain" for the company. Shares are up 44% in the past 12 months, compared with a 17% gain for the S&P 500 Index .Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Capital infusion is govt's recognition for IOB's turnaround strategies: CEO
T E NarasimhanThe government's plan to infuse a Rs 46.94 billion into Indian Overseas Bank (IOB) would heklp the Bank to comply with the regulatory requirements and provide better headroom to improve its credit on niche areas, said R Subramaniakumar, chief executive officer of IOB.Speaking to Business Standard, he said, "We have taken this capital into consideration while working out of plan of action for turnaround in FY 19. It has reaffirmed our plan and thanks to the government for the timely and very positive and forward looking release of the capital".This is not only going to help the Bank in meeting its regulatory compliance but also give a fair amount of headroom enabling it to improve credit on niche areas. The niche area of the Bank is retail, MSME and agriculture. "We will positively respond to the faith by the government by increasing our exposure to these areas, and take forward Government of India's theme of deepening the financial inclusion," he said, adding that it is .
BRIEF-Forward Air Elects Valerie Bonebrake As New Independent Director
Forward Air Corp(FWRD): * FORWARD AIR CORPORATION ANNOUNCES ELECTION OF VALERIE A. BONEBRAKE AS NEW INDEPENDENT DIRECTOR. * FORWARD AIR(FWRD) - FOLLOWING ELECTION OF VALERIE A. BONEBRAKE, CO'S BOARD WILL CONSIST OF NINE MEMBERS. * FORWARD AIR (FWRD) - FOLLOWING BONEBRAKE'S ELECTION, CO'S BOARD TO CONSIST OF 9 MEMBERS, 8 OF WHOM ARE NON-MANAGEMENT DIRECTORS Source text for Eikon: Further company coverage:
Three cities sue Pentagon over gun-background-check failures
The cities of New York, Philadelphia and San Francisco sued the U.S. Department of Defense on Tuesday, accusing it of failing to report the names of military members convicted of crimes to a federal database that would prevent them from purchasing and possessing guns. The suit was filed in the wake of the November massacre at a church in Sutherland Springs, Texas, that left 26 people dead. The shooter had been convicted of domestic abuse, but his name was not forwarded to the FBI's background-check database that would have prevented him from legally buying a gun. The lawsuit called on the Defense Department to fix "deadly gaps" and "comply with the law and repair their drastically flawed system." Earlier this month, a Defense Department report found all branches of the military failed to consistently submit data to the FBI. In a statement, New York Mayor Bill de Blasio said, "This failure on behalf of the Department of Defense has led to the loss of innocent lives by putting guns in the hands of criminals and those who wish to cause immeasurable harm." Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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