Thursday’s Headlines: Is Twitter Getting Shut Down?
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Moving Down ⬇️
1. Twitter’s stock fell 2.7% on Wednesday after the company fell afoul of President Trump following the placement of a ‘fact-check’ label on one of his tweets. According to White House officials, Trump will sign an executive order on social media companies today, after the president threatened to shut down all social media platforms for stifling conservative voices. It is not immediately clear whether Trump has the authority to shut down the companies, while Twitter declined to comment on news of the plans. Read the full story here.
2. Shares in cloud management group Workday jumped more than 5% after hours following an earnings beat in Q1. Total revenues were $1.02 billion, an increase of 23.4% from the last quarter, while subscription revenue increased 25.8% year-on-year, with losses per share of $0.68. “Amidst the current environment, we are pleased with our strong Q1 results, which include several new Fortune 500 customers as well as many virtual go-lives,” said CEO Aneel Bhusri. Get the full earnings report here.
3. Shares in Autodesk fell after hours on Wednesday despite reporting an earnings beat for Q1. Autodesk reported first-quarter net income of $66.5 million, which amounts to $0.30 a share, versus a net loss of $24.2 million, or $0.11 a share, in the year-ago period. Autodesk’s own guidance was not in line with analyst estimates but has still seen its stock rise 8.9% this year versus the S&P 500’s 7.4% fall. Get the complete report here.