Facebook Inc (FB) and Twitter Inc (TWTR) Performing Well: Jim Cramer


US markets experienced a great trend today as most of the mainstream stocks went up, giving an uplift to the overall market growth and some hope for the investors. Twitter Inc (TWTR) and Facebook Inc (FB) were some of the most pronounced stocks today. Facebook Inc (NASDAQ:FB) successfully defended itself against a lawsuit filed by a holding company called Rembrandt Social Media, which claimed that a Dutch computer programmer, Joannes Van Der Meer, developed a social media service and personal diary app called Surfbook, almost a decade ago. The company alleged that the idea was copied and infringed by Facebook.

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Facebook Inc (NASDAQ:FB) won the case after a week-long civil trial in U.S. District Court in Alexandria, Virginia. Discussing two social media giants in a program on CNBC, Jim Cramer and other experts said that Facebook is doing great in the market and will get more hike in the coming weeks.

Twitter Inc (NYSE:TWTR) stocks also went up on Tuesday after Macquarie changed its rating from ‘Underperform’ to ‘Neutral.’ Many other experts also placed Twitter Inc (NYSE:TWTR) in the ‘Buy’ category. Twitter also announced its earnings today. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by $0.19. The company had revenue of $250.00 million for the quarter

Cramer also talked about Twitter Inc (NYSE:TWTR)’s new CFO, and said that he is likely to play a key role in boosting Twitter Inc (NYSE:TWTR) sales and user base. He said that the new CFO of Twitter has a lot of corporate experiences and he will be more like a COO than a CFO in the company.

Facebook Inc. (NASDAQ:FB) ended up at $67.90 with day range of $66.90 – $68.17 in last trading. Facebook Inc. (NASDAQ:FB) is just  -6.46% away from its 52 week high.

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