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3 Up, 3 Down: Week of October 28th

Up:

The Container Store (TCS)- Overshadowed by the imminent Twitter IPO, The Container Store went public last week. Share of the Coppell, Tex based retailer began trading on the Nasdaq Friday. Share jumped from its initial IPO price of $18 a share to $36 a share. The company’s $36 debut values the 62-store fleet at $1.65 billion dollars

For more: http://dealbook.nytimes.com/2013/10/31/container-store-prices-i-p-o-at-top-of-heightened-range/

3D Systems Corporation (DDD)- Ascending 3D printer producer, 3D systems posted third quarter earnings on Tuesday and cut its overall earnings forecast for 2013. Nevertheless, the company reported better than expected earnings for the third quarter and raised its revenue estimates. Shares initially fell about 7 percent in after hours trading Tuesday, and then swung back for a gain of more than 5 percent for the week. DDD’s current market cap is more than $6 billion.

For more: http://www.reuters.com/article/2013/10/29/us-3dsystems-results-idUSBRE99S0OD20131029

Gilead Sciences (GILD)- Shares of the biopharmaceutical company rose more than 4.5 percent, or $3.17, on Wednesday after the company posted better than expected earnings, partly due to a 14 percent increase in sales of it three HIV drugs. The drug company also raised their annual forecasts for the year. Gilead has been on of the best performing companies in the S&P this year, gaining 93 percent year to date.

For more: http://finance.yahoo.com/news/gilead-sciences-rises-3q-sales-181134716.html

Down:

Facebook, Inc. (FB)- The social network announced earnings on Wednesday and as a result the stock endured a seesaw- like jump in its share price. Facebook posted over $2 billion in revenues, up from $1.6 billion just a year ago, mostly driven by increased advertising revenue on mobile devices. Despite beating expectations, it only took twelve words from Facebook’s Chief Financial Officer David Ebersman to reverse the significant ten percent jump in the company’s stock price. When Ebersman added that Facebook saw a decrease in daily usage by teenagers, the stock dropped, wiping out the ten percent jump and even moving into the red in after hours trading.

For more: http://www.forbes.com/sites/jeffbercovici/2013/10/30/facebook-admits-its-seen-a-drop-in-usage-among-teens/
LinkedIn Corp. (LNKD)- The professional online network announced earnings after the bell on Tuesday afternoon. Shares tanked in after hours and throughout Wednesday’s trading day. LinkedIn experienced a 38 percent rise in monthly users from a year ago along with a 56 percent increase in revenue from a year ago. Nevertheless, the company posted a net loss of $3.4 million, compared to a net gain of $2.3 million, a year earlier. Shares were down 8.6 percent for the week.

For more: http://www.cnbc.com/id/101148995

American International Group Inc. (AIG)- Shares of the insurance giant plunged 7.1 percent Thursday afternoon and Friday after posting disappointing earnings. While revenue increased 4 percent from a year ago, AIG’s third quarter net income fell 15 percent from a year ago. On Friday, shares closed at $48.28.

http://www.reuters.com/article/2013/10/31/us-aig-results-idUSBRE99U19B20131031

About Miles Bronstein

Miles is NBR's editor-in-chief. Hailing from Englewood, N.J, he enjoys going to the movies, discussing start-ups and eating sushi. He is also referred to as Kilometers.

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