Twitter Stock Down 10% on Disappointing Revenue Outlook
Brian Mackey, deputy director of research at Adviser Investments, has the market analysis for Friday, October 12. Major U.S. stock indexes rebounded slightly from intra-day losses yet still closed down. The Dow Jones Industrial Average, S&P 500 and NASDAQ declined 0.9%, 1.0% and 1.2%, respectively. Meanwhile, Dunkin’ Brands fell nearly 4% today on weaker-than-expected sales. Despite topping both sales and earnings expectations, Twitter’s stock dropped 10% after the company noted a disappointing revenue outlook and measurement metric shift. Chipotle, on the other hand, gained more than 12% after reporting 10% year-over-year sales growth and a 28% earnings increase as a result of expanded delivery options and launch of the Chipotle app.