Today: Twitter and eBay join Silicon Valley's earnings parade, and their stocks fall after both report net losses. Also: Social media and cloud software stocks rebound.

The Lead: Twitter, eBay announce losses and stocks fall

Twitter and eBay stepped up to the earnings platform Tuesday and both Silicon Valley companies announced net losses and saw their stock prices tumble in late trading.

Twitter reported a loss of $132.4 million, or 23 cents a share, on sales of $250.5 million; after adjustments, Twitter claimed a roughly net-even quarter, better than analyst expectations of a loss of 3 cents a share.

Twitter's user and engagement metrics were not well-received, however. The San Francisco microblogging company revealed that an average of 255 million people used the company's service each month in the first quarter, up from 241 million in the final quarter of 2013, less than analysts investors hoped. The company reversed a slide in timeline views - an engagement metric that measures each time a user looks at Twitter - by moving from 148 billion to 157 billion, but that total is still down from the third quarter of 2013.

"We still firmly believe it will be combination of changes over the course of the year that will result in the growth of the platform," CEO Dick Costolo said in Tuesday's conference call.

Investors showed their unhappiness with Twitter's user growth by sending its stock to an all-time low in after-hours trading; after closing with a 4.6 percent increase at $42.62, shares plunged lower than $38 in late action.

"User metrics, including reach and engagement, were slightly better than (the previous quarter), but not as strong as the Street expected," Sterne Agee analyst Arvind Bhatia wrote in a note that called the report's results "mixed."

eBay also announced a loss, but pinned it on a rare occurrence in Silicon Valley: Repatriation of a large cache of overseas cash. While most of Silicon Valley allows its foreign profits to sit in overseas bank accounts instead of paying U.S. taxes, eBay brought back $9 billion in the first quarter, with $3 billion of that total going to the government.

Executives on Tuesday's conference call said that eBay would use the money to buy back more shares of the company to return profits to investors, another trend among the largest technology companies in the region, while providing "greater U.S. financial flexibility." The company spent $1.8 billion to buy back 33.1 million shares in the quarter, part of a plan to repurchase $5 billion worth of shares, executives said.

Calculating for that loss, eBay reported a loss of $2.3 billion, or $1.87 a share, on sales of $4.3 billion. After ruling out that tax charge and other adjustments, the San Jose e-commerce company reported net income of $899 million, or 70 cents a share, better than analyst expectations of 67 cents a share, according to FactSet.

Those numbers were solid, but not the blowout report many expected when activist investor Carl Icahn pulled back from his campaign to force eBay to sell PayPal, which some speculated was a result of Icahn seeing early numbers that showed a huge beat for eBay.

"Investors assumed that's because the results were very good and Mr. Icahn was content with what he was seeing," Wedbush Securities analyst Gil Luria told Reuters, later adding, "The results were good, but not as good as some expected."

The company's projections for the current quarter also caused some consternation, as eBay said it expects profits of 67 to 69 cents a share this quarter on sales of $4.33 billion to $4.43 billion.

"There's not a lot to get excited about," Luria told Bloomberg News. "They beat, but they didn't raise the guidance for the year - and guided a little low for Q2."

eBay shares declined to less than $52.50 after closing with a 1.7 percent advance at $54.54.

SV150 market report: Social media, cloud software bounce back

Wall Street gained Tuesday as two Silicon Valley technology sectors that had been damaged in recent trading, social media and cloud software, bounced back.

In the social media sector, Facebook gained 3.6 percent to $58.15 as Forrester reported that the social network's Instagram app provided a better bang for big brands' bucks than Twitter or Facebook's own offering. Yelp, which will release earnings Wednesday, jumped 6.1 percent to $58.92, and LinkedIn, which will release earnings Thursday, gained 2.5 percent to $153.23. Cloud software stocks may have been helped by NetSuite, which revealed record revenues and growing partnerships in its earnings report Monday and grew 4.5 percent to $76.87 Tuesday. Joining NetSuite for the ride were Workday, which led the SV150 in percentage gain with an 8.9 percent advance to $73.30; WageWorks, which gained 7.2 percent to $42.11; ProofPoint, up 5.1 percent to $25.75; and Salesforce, which added 3.3 percent to $50.76.

Apple hit a new intraday 52-week high Tuesday but finally cooled off after a 13.2 percent gain since last week's earnings report, dropping 0.3 percent to $592.33 while introducing a renewed, cheaper MacBook Air. Hewlett-Packard gained 2.4 percent to $32.96 after Pacific Crest Securities analyst Brent Bracelin upgraded the stock, writing that "our historically neutral to negative bias" on HP was turned around after a technical analysis. Yahoo jumped 5.4 percent to $54.83 as CEO Marissa Mayer followed up announcements of the Sunnyvale company's online video push by revealing a new look for the Yahoo Mail mobile app. Google gained 2.6 percent to $536.33 after reports of a new service plan for mobile devices dubbed "Android Silver," and Tesla Motors rose 4.2 percent to $206.92.

Up: Workday, Yelp, Yahoo, Pandora, Twitter, Teslas, Facebook, LinkedIn, Salesforce, Gilead, Google, HP, Applied Materials, Netflix, AMD, eBay, Zynga, Juniper

Down: SolarCity, Electronic Arts, Apple, VMware, Oracle

The SV150 index of Silicon Valley's largest tech companies: Up 15.59, or 1.13 percent, to 1,390.41

The tech-heavy Nasdaq composite index: Up 29.14, or 0.72 percent, to 4,103.54

The blue chip Dow Jones industrial average: Up 86.63, or 0.53 percent, to 16,535.37

And the widely watched Standard & Poor's 500 index: Up 8.9, or 0.48 percent, to 1,878.33

Check in weekday afternoons for the 60-Second Business Break, a summary of news from Mercury News staff writers, The Associated Press, Bloomberg News and other wire services. Contact Jeremy C. Owens at 408-920-5876; follow him at Twitter.com/jowens510.