MARKET PULSE-Twitter, Crocs, WPCS, Noah, Kandi, Invensense
(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stocks opened flat in what is expected to be holiday-thinned trading on Monday, on the heels of the best two-week advance for the S&P 500 in five months and ahead of data on the housing market. The Dow Jones industrial average was up 0.02 percent at 16,481.97, the S&P 500 was down 0.09 percent at 1,839.69 and the Nasdaq Composite was down 0.16 percent at 4,150.002.
** TWITTER INC, $52.93, +0.25 pct
The microblogging site's shares continued to slide for the second day. Macquarie Equities Research downgraded the stock on Friday, citing lack of fundamental backing to the high valuation of its stock.
Twitter shares fell about 13 percent on Friday. It has risen nearly 150 percent from its IPO price of $26.
In an article on Sunday, a New York Times report also questioned the company's high valuation. (link.reuters.com/myb75v)
** CROCS INC, $15.62, +17.18 pct
The shoemaker said Blackstone Group LP is making a $200 million investment that will give the private equity firm a 13 percent stake in the shoe company. Continued...