Twitter has "confidentially submitted" plans to the SEC for an IPO, it disclosed yesterday, via a tweet. Details on the transaction are few and far between, but there are reports that the company has received offers from hedge funds to acquire shares at $26 to $28 each.
In other news, JPMorgan (NYSE:JPM) is reportedly planning to allocate another $4 billion on resolving its risk and compliance issues.
Apple (NASDAQ:AAPL) shares fell 1.5% after its price target was cut to $425 from $450 at Jefferies late Thursday, with the analyst cutting full year 2014 estimates for earnings, due to the pricing of the new iPhone 5C and supply constraints.
Facebook (NASDAQ:FB) was also down 0.9% despite analysts at JPMorgan and RBC Capital boosting their price targets for the social networking company to more than $50 on solid momentum in the online ad market.
Shares of Intel Corp (NASDAQ:INTC) jumped 3.3% after Jefferies upgraded the chip maker to buy from hold.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.