On Thursday, Shares of Twitter, Inc. (NYSE:TWTR), lost -5.83% to $26, hitting its lowest level.
Twitter’s battered shares dipped below their IPO price on Thursday as investors worry about the company’s ability to grow its user base, according to AP.
Twitter went public in November 2013 at an initial public offering price of $26 per share.
The stock is down 29 percent since Twitter’s July 28 earnings report, when it warned that boosting its user growth rate will take a long time.
The challenge for Twitter is broadening the appeal of its service to the mass market amid fierce competition from Facebook in addition to messaging apps like WhatsApp or Snapchat. While many people are familiar with Twitter, the company has not been able to convince people that they need it. AP Reports
In addition, Twitter is also without a permanent CEO, although co-founder Jack Dorsey is at the helm on an interim basis. AP added.
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 AbbVie Inc. (NYSE:ABBV), declined -1.62% to $67.48, during its last trading session.
AbbVie has bought a priority review voucher from United Therapeutics Corp for $350 million that will allow it to accelerate the review process for one of its drugs, according to Reuters.
United Therapeutics received a rare pediatric disease priority review voucher in March after its drug, Unituxin, was approved by the U.S. Food and Drug Administration to treat neuroblastoma, the company said on Wednesday.
The voucher, which offers a plethora of incentives, makes its holder eligible to have one of its drugs reviewed in six months, contrast to the standard 10 months. Reuters Reports
AbbVie did not disclose its plans for the voucher.
AbbVie Inc. discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company’s products comprise HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; VIEKIRA PAK, an all-oral, short-course, interferon-free therapy, with or without ribavirin, for adult patients with genotype 1 chronic hepatitis, counting those with compensated cirrhosis; Kaletra, an anti-HIV-1 medicine used with other anti-HIV-1 medications as a treatment that maintains viral suppression in people with HIV-1; Norvir, a protease inhibitor indicated in combination with other antiretroviral agents to treat HIV-1 infection; and Synagis to prevent respiratory syncytial virus infection in high risk infants.
Finally, BB&T Corporation (NYSE:BBT), ended its last trade with -2.50% loss, and closed at $38.59.
BB&T Corporation and National Penn Bancshares, Inc. (NPBC) declared the signing of a definitive agreement under which BB&T will acquire National Penn in a cash and stock transaction for total consideration valued at about $1.8 billion. This acquisition will significantly expand BB&T’s footprint in the Mid-Atlantic region and improve its deposit market share to #4 in Pennsylvania.
“The acquisition of National Penn provides a tremendous opportunity to strengthen our franchise in Pennsylvania and continue building the scale necessary to operate efficiently and with high quality service,” said BB&T Chairman and Chief Executive Officer Kelly S. King. “As the fourth largest bank in the state, we will have a noteworthy presence in these markets. BB&T will have the breadth of market coverage combined with excellent client service levels that will allow us to grow our client base.”
“National Penn is an attractive, well run company with strong administration. National Penn’s culture, commitment to its communities and business model are a strong fit with BB&T’s,” King said. “We are extremely excited to welcome our new clients and associates to BB&T. National Penn’s strong reputation in these markets presents great opportunities for BB&T to leverage our proven community banking capabilities.”
BB&T Corporation operates as a financial holding company that provides various banking and trust services for retail and commercial clients. It operates in six segments: Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Services, and Financial Services.
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