For the first time in five months, Marc Zuckerberg's brainchild, Facebook Inc., traded above USD 30. Its shares gave a robust showing Thursday, jumping to 24% as quarterly earnings exceeded expectations. Its mobile advertising revenue has also increased and makes up 41% of the network's ad revenue. Users of the social media network have already grown 1.15 billion-strong this quarter. With second quarter earnings at an impressive $1.81 billion, FB has announced stock upgrades and set new price targets.
Other top gainers on Thursday included Boston Scientific Corp. whose shares jumped 13% and F5 Networks Inc, whose shares rallied 10%. Boston Scientific also revealed that it had already regained its financial footing after last year's loss. Cabot Oil & Gas Corp. also performed impressively, climbing to 6.5% as increased natural gas output helped propelled its quarterly earnings to more than double. Despite a 2.2% loss in its second quarter profits, Mead Johnson Nutrition Co. shares was a top gainer this Thursday at 7.5%.
Join the Conversation