Twitter (TWTR) - Get Report had good reason to sing Thursday after an analyst issued bullish comments on the company and Apple (AAPL) - Get Report created a new account on the messaging service. Groupon (GRPN) - Get Report continued its strong advance, despite a technology titan filing a lawsuit against the company. Facebook (FB) - Get Report adds a twist to its messaging service and Uber ups its international expansion.
Twitter got a boost after an analyst with Monness, Crespi, Hardt & Co. issued bullish comments regarding the micro-messaging service, in reiterating its buy recommendation and $25 price target. The analyst pointed to the potential of new advertiser growth, as well as leveraging the advertising inventory of its Periscope, Vine and Moments businesses.
Twitter also scored a win when Apple established a new account on the service. The iconic computer maker created a Twitter account dedicated to customer support, according to a Reutersreport.
The micro-blogging service rose 4.2% to close at $19.31.
Groupon continued to ride the wave of Alibaba's (BABA) - Get Report 5.6% stake in the company, despite a patent infringement lawsuit filed by IBM (IBM) - Get Report and a largely down market on Thursday.
The group buying site was hit with a lawsuit that alleged it not only infringed on Big Blue's patents but also declined to hold any meaningful discussions regarding a licensing agreement for those patents.
Groupon's Teflon-like ability managed to advance, even though there was weakness in the markets earlier in the day. The company may still be receiving the benefit from Alibaba's investment in the company that it announced on February 16. Since then, Groupon's shares have soared 17.4%
Groupon closed at $4.86, up 4.3%.
Facebook struck a deal with Spotify to embed its app within the Facebook Messenger.
With the arrangement, Facebook users will be able to access a Spotify option within Messenger, tap Spotify to search and share a song, artist of playlist and then return back to the Messenger service, according to a TechCrunch report. Once back in Messenger, the other party taps the image and they return back to the Spotify option to listen to the music.
Facebook, despite the announcement, failed to get any lift to its shares. The company ended the day down 0.34% to close at $109.58.
Uber's international business took a substantial loss in its most recently reported annual figures filed with the Dutch Chamber of Commerce, where the company's international headquarters are located in Amsterdam.
The ride-sharing company, with a reported valuation of $40 billion, posted a $237 million loss in 2014, a sizable increase from a loss of $31.9 million the previous year, according to a Reutersreport. This rare view into the private company's financial performance comes as the company is in the expansion mode for its overseas operations.
During the winter, Uber expanded into the Middle East and North Africa with its investment of $250 million, according to a Bloombergreport. This expansion comes as investors await the day when Uber will launch its long-anticipated IPO.
This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.