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The Zacks Friday Finish Line Highlights: Snapchat's Groundbreaking IPO + TGT, YouTube TV

Madeleine Johnson

For Immediate Release

Chicago, IL—March 3, 2017—Zacks Friday Finish Line is a podcast hosted weekly by Zacks Editor Maddy Johnson and Content Writer Ryan McQueeney that takes on the week’s biggest news from the financial and investment world.

Target Earnings, YouTube TV, and Can Snapchat Justify Its $30 Billion Valuation?

On today’s episode of the Zacks Friday Finish Line, hosts Ryan and Maddy look at big box icon Target’s latest earnings release, President Trump’s first official address to Congress, YouTube TV, and one of the biggest market events of the past several years: Snap Inc.’s, the parent company of Snapchat, groundbreaking IPO.

Target

The hosts started this week’s show with a look at the latest earnings news from Target TGT. On Tuesday, the discount retailer posted disappointing fourth-quarter results, sending the stock tumbling more than 13%. Despite strong e-commerce growth, Target struggled thanks to weak comps and increased challenges from competitors. Nevertheless, the company looks set to double down on its pricing war against Walmart WMT.

President Trump

Next, Ryan and Maddy took a look at Donald Trump’s first official address to Congress on Tuesday night. The president continued his campaign rhetoric of American investment and tax reform, applauding companies like Ford F, Fiat-Chrysler FCAU, and Lockheed Martin LMT for creating new jobs in the country. Interestingly enough, the biggest mover in the wake of the speech was Harley-Davidson HOG.

YouTube TV

The hosts moved on to discuss the latest announcement from Alphabet Inc. GOOGL. The tech giant is poised to make a serious splash in the television market with its new YouTube TV package. For just $35 a month, YouTube TV subscribers will have access to original programming, cable networks like ESPN and ABC, unlimited cloud-based DVR, and artificial intelligence-powered search features.

Snapchat

Finally, the hosts covered the massive IPO of Snap Inc. SNAP, the parent company of picture messaging app Snapchat. Snap Inc. priced its new stock at $17 per share, above the expected range of $14 to $16 per share, valuing the company at $24 billion. This also makes it the largest tech IPO since Alibaba BABA back in 2014.

Once the stock finally opened on Thursday, share prices soared more than 40% and eventually closed at about $24.50. With its new valuation of about $30 billion, Snap Inc. has plenty of questions to answer. What will be the focus of the company going forward? Is the brand already overvalued?

As always, thanks for checking out this week’s episode of the Zacks Friday Finish Line, and make sure to check back next week for even more news from the investment and financial world!

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