Takes A Dive As Salesforce.com Backs Out — Twitter (TWTR) Stock

Those lagging user numbers have drawn Wall Street’s scrutiny, with investors putting pressure on Twitter to grow like its competitors.

South Africa’s Steinhoff International plans to buy Fantastic Holdings for 361 million Australian dollars ($274 million), the Sydney-based retailer said, sending both firms’ shares higher. Back on September 23, reports surfaced that Salesforce and possibly Disney Company and Google were interested in taking over Twitter, but nothing substantive came of those behind-the-scenes initiatives. Google, Apple and Disney don’t want to buy Twitter anymore. The company found slow revenue growth and it is not yet known how warmly users will embrace the live video. Visit MarketWatch.com for more information on this news. Twitter has lost 37 percent of its market value since Dorsey was formally appointed as CEO last October.

As an independent company, Twitter may need to address its unusual leadership situation, analysts said. During the same period a year ago, the firm posted $0.19 earnings per share.

But Benioff put an end to the speculation Friday, telling the Financial Times: “You’re going to look at price, you’re going to look at culture, you’re going to look at everything”.

Aborting the possibility of an acquisition lifted Salesforce’s stock price by roughly 4 percent in Friday trading.

Mr. Peck estimates the company could save up to $100 million a year by cutting up to 10% of employee expenses.

Analysts have said that the uncertainty around Twitter could quickly snowball, making it harder for the company to recruit employees and seal long-term business deals.

Slovenia has sold state-owned auto parts maker Cimos to TCH Cogeme, part of Italy’s investment firm Palladio Holding Group, the company set up to reduce the bad debts of local banks said on Friday. At Salesforce’s investor conference earlier this month, investors told executives they weren’t pleased with the notion of a Twitter buyout. Two analysts have rated the stock with a sell rating, three have issued a hold rating and forty-five have given a buy rating to the company’s stock. Salesforce was the last remaining suitor. Hedge funds and other institutional investors own 87.23% of the company’s stock. Much of that gain already evaporated over the last week as an acquisition started to look increasingly unlikely.