Tech Five: Twitter plunges off slow user growth
Wall Street is not enjoying the slowdown in user growth at social network Twitter. Let's take a look at the technology stocks to watch Tuesday:
Twitter. Shares plummeted more than 13% after the company reported third quarter earnings. Twitter's monthly active user base jumped 4.8%, showing a slower rate of growth compared to the previous quarter. The company beat revenue estimates, earning $361 million during the third quarter.
Facebook. Twitter's much larger social networking counterpart will report quarterly earnings when the markets close Tuesday. Last quarter, Facebook reported a 61% surge in revenue.
Apple. During the WSJDLive conference in Laguna Beach, California, Apple CEO Tim Cook said more than 1 million people have activated credit cards with Apple Pay. As for reports that retailers including Rite-Aid and CVS were cutting off access to their mobile payments service, Cook says, "it's a skirmish."
Alibaba. Chairman and co-founder Jack Ma says he is "very interested" in partnering with Apple and its mobile payments service, reports Re/code. Alibaba hosts its own payment service called Alipay.
Google. Susan Wojcicki, the CEO of Google-owned video service YouTube, says they're looking into offering new subscription options, including one that strips out ads, reports Re/code.
Follow Brett Molina on Twitter: @brettmolina23.