Here are some of the stocks the Yahoo Finance team will be following for you today.
Snap (SNAP) losses are piling up. The Snapchat parent added to Monday’s 12% drop in early trading. Several analysts have issued sell ratings after the stock soared in the first two days of trading following Snap’s IPO last Wednesday. Despite the selloff, the money-losing company still has a market value approaching $28 billion.
CSX (CSX) named industry veteran Hunter Harrison as its new chief executive amid pressure from activist investor Mantle Ridge. Harrison, who led the turnaround at Canadian Pacific (CP), is expected to cut costs and boost profits at CSX by cutting jobs and closing several rail yards. Shares of CSX are up more than 35% since mid-January, when speculation first started swirling that Harrison would take the top post at the at CSX after leaving Canadian Pacific.
Salesforce.com shares (CRM) were higher in early trading after the company announced a partnership with IBM (IBM). The two tech giants are integrating IBM’s Watson with Salesforce’s Einstein Artificial Intelligence. The combination of these two technologies aims to help companies better target products and services at customers.
Dick’s Sporting Goods (DKS) shares fell ahead of the open. The retailer reported earnings that came in above analysts’ estimates, while revenue matched expectations. Revenue jumped nearly 11% from a year ago. However, the company gave a weak outlook for the current quarter.