As the broader market edged slightly higher, there were some high-profile public companies making news.
BlackBerry ( shares tumbled more than 16% after the company said it has abandoned its plan to sell itself. )
Instead, BlackBerry is receiving an investment of $1 billion from majority shareholder Fairfax Financial. The troubled Canadian smartphone maker also said that Thorsten Heins is stepping down as CEO, and that John Chen, former CEO of Sybase, will serve as interim chief. Chen was also appointed executive chair of BlackBerry's board of directors.
StockTwits traders noted that this could mean more bad news ahead for BlackBerry.
While BlackBerry is still trying to turn its business around, traders noted that the company's board will have to give Chen some extra room to maneuver.
Meanwhile, shares of J.C. Penney (Fortune 500) continued to rebound following last week's 20% advance. Traders on StockTwits were mostly bullish on the troubled retailer's future. ,
GrandMaster said he believes J.C. Penney is a good trade because "many ill-informed" investors are still betting against the company. He expects more analysts will upgrade the stock soon.
Shares of Tesla ( surged 8%. The stock was hit hard in October on concerns about its valuation. But investors are hoping the electric car maker will report strong earnings after the closing bell Tuesday. )
#Waiting for Twitter IPO: Twitter raised the price range for its initial public offering to $23 to $25 per share, from a previous range of $17 to $20. This is a sign of strong demand for Twitter's IPO. At the high end of the new range, Twitter would be valued at $13.6 billion.
Twitter is expected to make its stock market debut later this week. The social network's IPO was a hot topic on StockTwits, especially in how it compares to Facebook (Fortune 500) as an investment. ,
Another traded noted that Twitter will likely be a risky investment in its early life as a public company.
Later in the week, investors will get their first look at U.S. gross domestic product for the third quarter. The GDP report, due out Thursday, does not include the impact that the government shutdown had on the economy.
But on Friday, the government will release the jobs report for October. That report could show softness in hiring because of uncertainty related to the shutdown and fears of a possible U.S. debt default.
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