Twitter shares will trade on the New York Stock Exchange, documents showed Tuesday, shunning the tech-heavy Nasdaq which saw major problems in Facebook's market debut in 2012.

An update to Twitter's filing with the Securities and Exchange Commission said: "We intend to list the common stock on the New York Stock Exchange under the symbol 'TWTR.'"

The update also said Twitter's monthly active users had grown to 232 million, up from 218 million as of June 30.

It said the company lost $133 million in the first nine months of 2012 on revenues of $422 million, updating its earlier figures.

Twitter also revealed a new contract with chief executive Dick Costolo worth some $11.5 million, mostly in stock. And its senior vice president for engineering, Christopher Fry, will get $10.4 million, mainly in stock awards.

Twitter first revealed its initial public offering (IPO) in a confidential filing last month, and in early October revealed it would seek to raise $1 billion for the massively popular messaging platform.

Twitter's decision to list on the NYSE came after the Nasdaq's foul-up marred the $16 billion Facebook share issue in May 2012, the most hotly awaited initial public offering on the US markets in years.

The Nasdaq exchange agreed this year to pay a $10 million penalty for trading glitches.

Nasdaq is also facing lawsuits from investors who claim the problems led to losses when they were unable to execute trades.

Yahoo holds on to more of Alibaba as profit slips
San Francisco (AFP) Oct 15, 2013 - Yahoo said Tuesday its quarterly profit slipped from the same period a year ago, when its coffers were swelled by the sale of shares in China's Alibaba.

Yahoo reported earnings of $297 million on revenue of $1.139 billion in the quarter that ended September 30. The profit was 91 percent less than was taken in during the same period last year, when Yahoo sold part of its stake in the Chinese e-commerce giant.

"I'm very pleased with our execution, especially as we've continued to invest in and strengthen our core business," said Yahoo chief Marissa Mayer.

"Now with more than 800 million monthly users on Yahoo -- up 20 percent over the past 15 months -- we're achieving meaningful increases in user engagement and traffic."

The earnings figures, which topped Wall Street expectations but showed that Mayer has yet to rev up the company's revenues, were released along with word that the California company would keep a larger portion of Alibaba under an amended agreement with the Chinese Internet retail titan.

Yahoo said in a statement it would sell 208 million Alibaba shares, instead of a previously agreed 261.5 million shares as the Chinese firm prepares a public offering.

The original repurchase agreement of May 2012 provided that in the event Alibaba completed a qualified IPO, Yahoo would sell up to 261.5 million of its 523.6 million ordinary shares of Alibaba, either directly to Alibaba Group or in the qualified IPO.

After an IPO, Yahoo, one of the early investors in Alibaba, has the right to sell its remaining shares.

"Yahoo has always believed in the long-term potential and value of Alibaba, and we are pleased to maintain a larger stake in the company's future," said Jacqueline Reses, chief development officer of Yahoo and Alibaba board member.

Expectations are building for an initial public offer (IPO) as early as this year for the Chinese firm, the world's biggest online retailer.

An IPO could value Alibaba at between $60 billion and $100 billion, according to analysts.

Yahoo shares lost nearly two percent during the trading day to close at $33.38 but regained a bit of the ground in after-market trades..