On Friday, Shares of Twitter Inc (NYSE:TWTR), gain 1.86% to $27.93.
Twitter (TWTR) restructured its product team and now has a new head of consumer products, according to a report from Re/code. Jeff Seibert, who until now handled Twitter’s platform for app (application) developers, is now head of consumer products, according to Market Realist.
The move comes just as the company is preparing the launch of its new feature, Project Lightning. It’s a button on Twitter’s social media mobile app. By pressing it, users can view pictures and videos of events as they happen. The event could be breaking news or a current sports or entertainment event.
Twitter has realized the great potential of live events to attract users to its platform. The company is working to post relevant and interesting content by organizing tweets into popular categories of live events, celebrities, and more.
Twitter offered a split in the revenue and non-exclusive rights to stream NFL games, but Yahoo! won the bid by offering a large sum for the rights. However, Twitter does have an ongoing content deal with the NFL to post NFL highlights and share ad revenue. Market Realist Reports
Twitter, Inc. operates as a global platform for public self-expression and conversation in real time. It offers various products and services for users, counting Twitter that allows users to create, distribute, and discover content; and Vine and video, a mobile application that enables users to create and distribute short looping videos.
Shares of QUALCOMM, Inc (NASDAQ:QCOM), declined -0.96% to $54.45, during its last trading session, after the company cut 1,314 full-time jobs in San Diego and hundreds more elsewhere.
Qualcomm said in July that it plans to decrease its 31,300 global workforce by 15% during the next year, with the aim of cutting $1.4 billion annually, according to The San Diego Union-Tribune. About 15,000 employees worked out of San Diego as of May.
The job cuts come as Qualcomm restructures to better face higher competition and slowing growth in the smartphone market, The San Diego Union-Tribune stated.
Amazon (AMZN) chose a MediaTek processor for its Fire TV over a Qualcomm component it had formerly used, Bloomberg reports.
“A workforce reduction is never easy,” Qualcomm President Derek Aberle said in a statement, according to The San Diego Union-Tribune. “The company is providing supportive severance packages, outplacement resources and career transition resources for those employees affected during this difficult time.”
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communications products and services in China, South Korea, Taiwan, and the United States. The company operates through three segments: Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Planned Initiatives (QSI).
Finally, La Quinta Holdings Inc (NYSE:LQ), ended its last trade with -15.35% loss, and closed at $16.05.
La Quinta Holdings Inc. fell the most since going public last year after its longtime chief executive officer resigned and the hotel chain cut its 2015 growth forecast. Other lodging companies also sank, according to Bloomberg.
La Quinta said that weaker-than-predictable demand for hotel rooms in the past two months pointed to slower earnings growth this year. The company also said CEO Wayne Goldberg, who’s been with the Irving, Texas-based chain for 15 years and was in the head role since 2006, stepped down. Chief Financial Officer Keith Cline was designated to fill the role in the interim.
La Quinta said 2015 revenue per available room, a performance measure for hotel operators that incorporates rates and occupancies, would grow 3.5 percent to 4.5 percent, lower than the range of 4.5 percent to 5.5 percent in its preceding forecast. Bloomberg Reports
La Quinta Holdings Inc. owns, operates, and franchises select-service hotels under the La Quinta brand. It serves the upper-midscale and midscale segments. As of May 7, 2015, the company had about 870 hotels with about 86,000 rooms under the La Quinta Inn & Suites, La Quinta Inn, and LQ Hotel brands in 47 states of the United States, in addition to in Canada, Mexico, and Honduras. The company was founded in 1968 and is headquartered in Irving, Texas.
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