Twitter (TWTR) shareholders got an early Christmas present Friday as shares shot up almost 20% following reports that the company was nearing a deal to be acquired by an unnamed tech company. Salesforce.com (CRM) emerged as one of the potential suitors after the company's chief digital evangelist Vala Afshar sent a tweet extolling the virtues of the social media company.
However, a couple of hours after the tweet started gaining traction, Afshar hedged his comments by tweeting:
I have tweeted my personal views regarding 'Why Twitter?' numerous times over the past couple of years. I simply love Twitter.— Vala Afshar (@ValaAfshar) September 23, 2016
Fellow social media company and Action Alerts PLUS holding Facebook (FB) was being punished by the market for its bad behavior Friday after the company admitted that it misled advertisers about the length of time its users engaged with video ads on the website. For the past two years, Facebook has been including video views of only three seconds or more in its viewing counts.
Valvoline (VVV) was flat in afternoon trading after raising approximately $660 million during its debut on the stock market Friday. The company operates oil-change and car maintenance centers across the country while also selling its own brand of oil. The company priced 30 million shares at $22 apiece Thursday and the stock was trading at $23.58 Friday afternoon, peaking in early morning trading above $24 per share.
U.S. Steel (X) , the iconic steel maker, got a boost from a couple of analyst upgrades this week, rising another 3% Friday and finishing the week up more than 16%. Analysts at Credit Suisse said the company was "very undervalued." Analysts at KeyBanc upgraded the stock to Sector Weight from Underweight due to the expectation of a more competitive steel market.