Fiat to spin off Ferrari

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Fiat Chrysler Automotive (NYSE: FCAU) will spin off Ferrari into a separate publicly traded company and will issue a convertible bond for $2.5 billion. Shares of the automaker climbed $1.13 to close at $10.85.

Facebook's outlook disappoints

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Facebook Inc. (Nasdaq: FB) reported sharply higher third quarter revenue and earnings of 30 cents per share compared with 17 cents per share a year earlier but the company forecast disappointing fourth quarter results and warned of higher expenses in 2015. The stock price plummeted $4.91 to close at $75.86.


Barrett Business Services Inc. (Nasdaq: BBSI) fell to a loss for the third quarter of $5.27 per share compared with earnings of $1.26 per share in the year ago period. The stock price plunged $26.18 to close at $18.28.


InvenSense falls to loss

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InvenSense Inc. (NYSE: INVN) fell to an unexpected loss for the second quarter of 8 cents per share compared with earnings of 16 cents per share in the year ago period even as revenue rose. The stock price plummeted $5.04 to $16.44.
American Realty Capital Properties Inc. (Nasdaq: ARCP) overstated its adjusted funds from operations in its financial reports from March 31, 2014 and June 30, 2014. The stock price plummeted $3.74 to $8.64.


Shares of Shell Midstream Partners LP (NYSE: SHLX) surged $9.99 to $32.99 on its first trading day.


Tornier (Nasdaq: TRNX) will merge with Wright Medical Group Inc. (Nasdaq: WMGI) in an all stock deal valued at approximately $3.3 billion. Shares of Tornier leaped $3.81 to close at $27.86 while Wright Medical Group stock eased 30 cents to close at $31.34.

NQ Mobile rejects acquisition offer

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NQ Mobile Inc. (NYSE: NQ) rejected an offer from Bison Capital to take the company private sending the stock price tumbling $1.46 to close at $8.00.


Apple Inc. (Nasdaq: AAPL) selected Aerohive Networks Inc. (NYSE: HIVE) to provide networking solutions for the ConnectED Initiative. Shares of Apple gained $1.63 to $106.74 while Aerohive Networks stock climbed 90 cents to close at $5.76.


Twitter widens losses

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Twitter Inc. (NYSE: TWTR) widened third quarter losses to $175 million compared with $64.6 million a year earlier as user growth slowed prompting downgrades. The stock price plummeted $4.27 to $44.29.

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