Twitter's Stock Price Jumped 15 Percent Today. Here's Why. The tech company reported its third-quarter earnings and helped lead a rebound for the Entrepreneur Index™.

By Andrew Osterland

Opinions expressed by Entrepreneur contributors are their own.

Andrew Burton | Getty Images

The stock market responded to its recent woes with a mighty tweet today.

Led by Twitter -- up 15.47 percent on the day -- the market rebounded from yesterday's plunge with a strong day across all segments of the market. The Entrepreneur Index™ was up 3.45 percent with 53 of 60 stocks posting gains for the day.

Twitter's third quarter results, reported before the market opened, got the ball rolling. The social media network's average monthly users figure was down as expected due to its battle with automated bot accounts, but it beat earnings estimates by 7 percent and had a 29 percent surge in advertising revenues. Microsoft also reported strong earnings overnight.

Twitter wasn't the only company in the Entrepreneur Index™ to inspire some confidence in the market. Elon Musk delivered as promised. Tesla posted a healthy profit of $312 million in the third quarter and the stock was up 9.14 percent. Ford got in on the act too. While down nearly 30 percent so far this year, the stock gained 9.9 percent after Ford beat earnings estimates by a penny and revenue estimates by more than 10 percent today.

Telecom giant Comcast, the fifth most valuable company on the Entrepreneur Index™ at $164 billion, also got a 5.04 percent pop in its stock price after reporting great earnings this morning. CEO Brian Roberts credited the company's investment in broadband infrastructure for helping it add significantly more high-speed internet customers than expected. Last month, the company won a $39 billion bidding war with Disney/Fox for British broadcaster Sky. The stock is down 11.4 percent for the year.

It was technology stocks, however, that led the market higher today. The Nasdaq Composite, down 11 percent for the month after yesterday's close, was up 2.95 percent today, while the Dow and S&P 500 indexes were up 1.63 percent and 1.86 percent.

Every tech stock on the Entrepreneur Index™ posted a gain for the day. Amazon.com, which along with Alphabet Inc. will report earnings after the market closes today, had the second biggest gain in the sector after Twitter, rising 7.09 percent. Alphabet Inc. (4.27 percent), Adobe Systems Inc. (6.07 percent) and salesforce.com (5.66 percent) also had notable gains. Netflix, down 18 percent for the month coming into today, was up 3.66 percent.

Alexion Pharmaceuticals had a big bounce after yesterday's nearly 10 percent drop, gaining 5.56 percent. Kimco Realty Corp. and Simon Property Group both reported strong earnings and saw their share prices rise 6.23 percent and 3.91 percent respectively.

Stocks that have been slammed lately also saw good gains. Homebuilder D.R. Horton Inc., down 30 percent in the year to date was up 3.49 percent. Asset managers BlackRock and Franklin Resources, which have been plunging along with the markets this month, were both up more than 3.5 percent today.

Just six stocks on the Entrepreneur Index™ declined on the day. J.M. Smucker Company (-0.68 percent) and Rollins Inc (-0.96 percent), two of only nine stocks that had gains yesterday, were both down slightly.

Regeneron Pharmaceuticals was the odd man out on the index today. While recently battered biotech stocks were up sharply today, Regeneron was down 4.11 percent -- the biggest decline by far on the Entrepreneur Index™. The market appears spooked that the Food and Drug Administration didn't approve a pre-filled syringe version of the company's blockbuster eye disease drug Eylea. The drug had U.S. sales of $3.7 billion last year.

The Entrepreneur Index™ collects the top 60 publicly traded companies founded and run by entrepreneurs. The entrepreneurial spirit is a valuable asset for any business, and this index recognizes its importance, no matter how much a company has grown. These inspirational businesses can be tracked in real time on Entrepreneur.com.

Wavy Line

Andrew Osterland is a contributing writer for CNBC.com. He specializes in capital markets, personal finance and taxes.

Editor's Pick

A Father Decided to Change When He Was in Prison on His Son's Birthday. Now His Nonprofit Helps Formerly Incarcerated Applicants Land 6-Figure Jobs.
Lock
A Teen Turned His Roblox Side Hustle Into a Multimillion-Dollar Company — Now He's Working With Karlie Kloss and Elton John
Lock
3 Mundane Tasks You Should Automate to Save Your Brain for the Big Stuff
Lock
The Next Time Someone Intimidates You, Here's What You Should Do
5 Ways to Manage Your Mental Health and Regulate Your Nervous System for Sustainable Success

Related Topics

Business News

Pete Davidson Says He's 'Figuring It Out' After Buying a $280,000 Boat While 'Very Stoned'

The former "Saturday Night Live" star purchased a used Staten Island Ferry with Colin Jost in January 2022.

Business News

After Being Told They Could Work From Home Forever, Employees Made Major Life Changes. Then, a New CEO Ordered Them Back to the Office.

Farmers Group CEO Raul Vargas is facing backlash for the change, but he says being in the office brings more "collaboration" and "innovation."

Business News

Uber Eats Deliveries Are Flooding a Los Angeles Neighborhood — Except No One Knows Who Placed the Orders

Residents of L.A.'s Highland Park neighborhood are once again the target of dozens of unsolicited Uber Eats orders. The "annoying and somewhat disturbing" mystery is gripping the city.

Science & Technology

Is the Future of Work a Utopia or a Dystopia? Here's What You Should Know.

Let's discuss the trends in managing distributed teams and what the future of work may look like.

Growing a Business

6 Unconventional Growth Tactics to Generate Immediate Ecommerce Revenue

When you're short on making payroll, these tactics can help put immediate cash in your pocket.

Business News

Uber Launches 'Carshare' Service in North America Amid Expanded 'Go Green' Initiatives

The company first launched its car-sharing service in Australia last year.