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HomeUncategorizedBEFORE THE BELL: Facebook Shares Drop Dramatically; Loonie Looking Up

BEFORE THE BELL: Facebook Shares Drop Dramatically; Loonie Looking Up

All eyes will be on Facebook today.

The social media giant reported lower than expected revenue and fewer active users late yesterday.  In pre-market trading shares are down 19-percent.  CEO and Founder Mark Zuckerberg has lost $16-billion in the last 12 hours.

In overnight trading European markets gained ground and Dow futures are up 28 points.

Canadian gold producers may have a rough day after both Barrick Gold and GoldCorp reported disappointing quarterly results after the bell yesterday.

Toy maker Mattel blamed the closure of Toys R Us for missing its sales estimates and has announced they will cut 2,200 jobs.

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The loonie is up to $0.7675 U.S.

Oil is down slightly to $69.21 a barrel and gold is also down  $3.70 to $1,227 an ounce.

More key earnings to come today including Amazon and McDonalds.

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