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During 2Q16, $WMT identified a material weakness in its controls over accounting for leases. This allowed for the misinterpretation and historical misapplication of ASC 840, Leases, regarding sale-leaseback accounting, including lessee involvement in the construction of leased assets. The company expects remediation to be completed by FY16 end.
$PYPL jumps 6% in after hours on strong results. I am bullish on this stock.
$TSCO stock remained active in the after hours trading and rose more than 2% after the retailer posted better than expected 1Q17 results.
Instagram has reached 700 million monthly active users. Looks like it will hit 1 billion soon. That would make it $FB’s fourth billion-user platform.