Mobile Gaming just got Bigger | February 9

by Luna Fuller
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Good Evening!

The DJIA fell 0.03%
The S&P 500 was down 0.11%
The Nasdaq Composite added 0.14%

Communications services led the market and energy slipped.

General Market Review

Communication Services

Electronic Arts, a video game stock, added more than 2% after announcing a deal to acquire Glu Mobile. This deal will give EA a stronger hold on the mobile gaming space by diversifying its range of mobile games. Glu surged about 35%.

Energy

Although there was increased optimism for oil demand, stockpiles fell sharply. US crude inventories fell by 3.5 million barrels last week which causes supply and demand issues to remain intact. ExxonMobil and Occidental Petroleum slipped about 3%.

Earnings

Twitter beat on both earnings and revenue. The company reported earnings of $0.38 compared to forecasts of $0.31. It reported revenue of $1.29 billion compared to estimates of $1.19 billion. The company grew both ad revenue and engagement by 31% and 35%, respectively. For 2021, Twitter expects that with improving pandemic conditions, revenue will grow faster than expenses.  TWTR is up about 4% afterhours.

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