Facebook Inc FB is weighing on the market.
The company missed Q2 sales estimates. Perhaps more importantly, global daily active users came in at 1.47 billion vs. a 1.49 billion estimate. During the company's post-earnings conference call, management warned it sees quarter-over-quarter high-single digit sales growth decelerating in the second half of the year.
The news sent several of the market's most popular stocks falling. As of 6 p.m. ET:
- Facebook was down 23.2 percent to $166.94;
- Twitter Inc TWTR was down 5.7 percent to $41.70;
- Snap Inc SNAP was down 4 percent to $12.85;
- Amazon.com, Inc. AMZN was down 1.9 percent to $1,827;
- Netflix, Inc. NFLX was down 3 percent to $351.51; and
- Alphabet Inc GOOGL was down 2 percent to 1,250.
Related Links:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in