NEW YORK, NY / ACCESSWIRE / February 3, 2017 / Despite reporting quarterly earnings that topped analysts' expectation, shares of major tech stocks Facebook and Electronic Arts fell Thursday. Facebook reported a net income of $3.6 billion, or $1.21 a share, for the fourth quarter of 2016, up from $1.6 billion, or $0.54 a share, in the fourth quarter of 2015. Non-GAAP earnings were $1.41 for the fourth quarter, which topped average analysts' estimates of $1.31, according to FactSet. Revenues for the quarter totaled $8.81 billion, up from $5.8 billion in the year ago quarter and above consensus estimates of $8.5 billion.

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Investors have been focused on how President Trump's recent travel ban, which has been greatly criticized by the leaders of Apple, Amazon, Facebook and Google, would affect the Tech Industry. "Apple would not exist without immigration, let alone thrive and innovate the way we do," wrote Apple CEO Tim Cook in an email to the company's employees.

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Facebook's shares declined 1.79 percent to close at $130.84 a share Thursday. The stock traded between $130.40 and $135.49 on volume of 54.37 million shares traded. The company reported monthly active users (MAUs) were 1.86 billion as of December 31, 2016, up 17 percent year-over-year. Daily active users (DAUs) were 1.23 billion as of December 31, 2016, up 18 percent year-over-year. According to Bloomberg, expectations had called for MAUs of 1.84 billion and DAUs of 1.21 billion. Analysts have been encouraged with Facebook's potential in growing advertising revenues through their intentions of growing video. "I see video as a megatrend on the same order as mobile," commented Facebook's CEO, Mark Zuckerberg.

SIG Susquehanna has recently raised their price target on the company to $180 a share from its previous target of $160. "Our recent checks with some of [Facebook's] larger ad agencies make us confident in the company's forward momentum, particularly in video, and we believe estimates should move higher through the year," said Shyam Patil, an analyst with SIG Susquehanna. Consensus of analysts has "Buy" ratings on the stock with average target price of $153.31, according to Wall Street Journal.

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Electronic Arts' shares declined 0.59 percent to close at $82.51 a share Wednesday. The stock traded between $81.38 and $82.98 on volume of 4.08 million shares traded. The company reported revenues were $1.15 billion for the third quarter of fiscal 2017, an increase of 7.4 percent when compared to revenues of $1.07 billion in the fourth quarter of 2015. Adjusted revenues were $2.07 billion for the fiscal third quarter, which topped analysts' estimates of $2.05 billion, according to Thomson Reuters I/B/E/S. Electronic Arts forecasts a profit of $1.64 per share and adjusted revenues of $1.08 billion for the current quarter.

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Today's Research Coverage Includes:

Electronic Arts Inc. (NASDAQ: EA)

Facebook Inc. (NASDAQ: FB)

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