Here are some of the top tech stock movers for Tuesday, July 7. Stocks were mixed on Tuesday, with the tech-heavy Nasdaq index trading modestly higher after hitting an all-time high on Monday.
Facebook (FB) - Get Report shares gained 2.84% to $247.11. Facebook shares have been particularly active in recent days owing to an advertiser boycott of Facebook and Instagram, with some analysts anticipating that the boycott could last for months and impact the company's financial results. Facebook plans to meet with advertisers today to discuss the boycott. Shares of Twitter (TWTR) - Get Report also gained 3.06% to $33.33.
Travel-related internet stocks fell on Tuesday. Expedia (EXPE) - Get Report fell 2.7% to $84.97 amid ongoing concerns about higher infection rates in the U.S. and elsewhere and a related collapse in demand for travel. In April, Expedia sold a $1.2 billion stake in its business to private equity groups Apollo Global and Silver Lake to fund operations during an expected extended drop in travel.
TripAdvisor (TRIP) - Get Report also fell 2.87% to $18.95. The company said on Tuesday that it will offer $500 million in new senior notes in an effort to raise capital during the pandemic. Proceeds from the five-year bonds will be used for general corporate purposes.
Shares of eBay (EBAY) - Get Report rose 2.14% to $57.27 today after hitting a record high on Monday and continuing an upward trend this month. The online auction giant is reportedly nearing a deal to sell its classifieds unit, and many investors are bullish on the potential for positive results in the second quarter for e-commerce businesses.