S&P 500 top movers: Twitter Inc (TWTR stock) down more than 20% on weak user growth


  • S&P 500 Index dropped to its lowest level in more than a month.
  • Twitter Inc shares fall sharply on disappointing user growth figures.
  • Mohawk Industries Inc (MHK: NYSE) stock soars on strong earnings summary.

After opening the day modestly lower, the S&P 500 Index (SPX) continued to push lower pressured by the poor performance of technology stocks. At the moment, the S&P 500 Technology Index is down more than 3% on the day and the SPX is losing 1.8% and 6.2% on a daily and weekly basis, respectively.

S&P 500 top movers

Twitter Inc (TWTR: NYSE) reported it had 187 million monetizable daily active users during the third quarter and fell short of analysts' estimate of 195.2 million. Additionally, the company noted that it is forecasting its expenses to increase by nearly 20% in the last quarter due to an increase in investments, as reported by Reuters.

Pressured by these developments, TWTR opened sharply lower and extended its slide. As of writing, the stock was down 20.35% on the day at $41.76.

Among the other S&P 500-listed major tech stocks, Facebook (FB: NASDAQ), Netflix Inc (NFLX: NASDAQ), Apple Inc (AAPL: NASDAQ) and Amazon.com Inc (AMZN: NASDAQ) are down between 6.25% and 5.6% on the day.

On the other hand, Mohawk Industries Inc (MHK: NYSE) reported adjusting earnings per share of $3.26 for the third quarter and beat the market expectation of $2.14. At the moment, MHK is the top daily percentage gainer, rising 8.6% at $101.05.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

AUD/USD: Fizzles upside momentum below 0.7400 but bears await clear signals

AUD/USD eases after refreshing the three-month top the previous day, downside have recently been confined though. Chatters surrounding US-China relations, virus woes probe risk-on but absence of the US traders, light calendar elsewhere, limits the moves.

AUD/USD News

EURUSD stabilises above 1.1900 awaiting further drivers

EUR/USD was at the whim of US dollar flows on Thursday, but ultimately ended the day flat at just above 1.1800. ECB rhetoric, as well as the minutes of the November meeting, serve as a reminder of the stimulus dilemma faced by the ECB in December.

EUR/USD News

Gold: Consolidation at critical weekly lows, bears looking for a discount

The price of gold has been on the back foot this week, breaking below the psychological $1,850s area, plummeting to a fresh weekly low of $1,800.40.

Gold news

WTI regains $45.00 even as choppy session limits the moves

WTI fades pullback moves from the highest in nine months. The energy benchmark eased from the multi-day high the previous day as global optimism, mainly fuelled through the coronavirus (COVID-19) vaccine hopes, fizzled. Also challenging the oil bulls was the US holiday due to Thanksgiving Day.

Oil News

Black Friday 2020 Discounts!

Learn to trade with the best! Don't miss the most experienced traders and speakers in FXStreet Premium webinars. Also if you are a Premium member you can get real-time FXS Signals and receive daily market analysis with the best forex insights!

More info

Forex MAJORS

Cryptocurrencies

Signatures