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Twitter Inc's drive to make money from its service is slipping, says Jefferies - AFTER HOURS

Last updated: 06:40 25 Aug 2017 EDT, First published: 01:40 25 Aug 2017 EDT

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Twitter is still losing money; that's what's happening

After the bell, Adamas Pharmaceuticals Inc (NASDAQ:ADMS) shot up by almost a third after a favorable verdict from the US Food and Drug Administration (FDA).

The FDA gave the green light to the company's drug candidate, GOCOVRI, the first medication for the treatment of involuntary movement in patients suffering from Parkinson's disease.

The wonderfully named software firm Splunk Inc (NASDAQ:SPLK) was also wanted in after-hours trading, as it posted a 32% year-on-year increase in total revenues in the second quarter. After stripping out one-off items, earnings per share were positive at eight cents.

The shares rose 8% to US$65.15.

Retailer Urban Outfitters (NASDAQ:URBN) put on a late spurt, rising 7% to US$21.40 after-hours, as it increased the size of its stock repurchase programme by 20 million shares.

Video game seller GameStop Corp (NYSE:GME) revealed further evidence that its business model is being left behind the times, as it posted a 47% year-on-year decline in second quarter profits.

Net income of US$14.9mln was equivalent to 15 cents a share, and was down from US$27.9mln (27 cents a share) a year earlier.

The consensus forecast for earnings per share (EPS) was 16 cents.

The shares gave back 8.2% at US$20 after enjoying a positive regular trading session on Thursday.

Also on the slide was networking equipment giant Broadcom Corporation (NASDAQ:AVGO), despite beating Wall Street's forecasts with its fiscal third quarter earnings.

The Singapore-based company's EPS, adjusted for one-off items and stock option expenses, clocked in at US$4.10 versus expectations of US$4.03.

Analysts suggested that as a supplier to Apple, the results could have had a bit more pizazz.

The shares dipped 0.5% in after-hours trading to US$253.79.

Computer-added design software specialist Autodesk Inc (NASDAQ:ADSK) also topped the Street's forecasts with its earnings, but unlike with Broadcom, it was rewarded with a 6.5% increase in its share price, to US$117.05.

Losses, adjusted for stock option expense and pre-tax expenses, were equivalent to 11 cents per share – a penny less than analysts had been expecting.

Revenue of US$501.8mln was ahead of the consensus forecast of US$494.8mln.

Perennially loss-making social media giant Twitter Inc (NYSE:TWTR) was on offer at US$16.72, down 17 cents, after broker Jefferies downgraded the stock to 'hold' from 'buy'.

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