|Bid||0.00 x 21500|
|Ask||11.52 x 21500|
|Day's Range||11.23 - 11.70|
|52 Week Range||4.82 - 15.96|
|Beta (3Y Monthly)||1.17|
|PE Ratio (TTM)||N/A|
|Earnings Date||Apr 23, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||9.81|
Snap is expected to report fiscal first-quarter 2019 earnings on Tuesday afternoon, and Wall Street will be paying close attention to user base numbers.
Snap shares under pressure after Wedbush downgrades the company from outperform to neutral. Seana Smith and Dan Howley discuss.
In a new book about legendary Silicon Valley adviser Bill Campbell, former Google CEO Eric Schmidt describes his subject as a salt-of-the-earth, tough-love savant.
Snap (NYSE:SNAP) is expected to report earnings on Tuesday -- the same day Twitter reports earnings. The business narrative around the company has improved, and analysts have been quick to raise price targets in response to stock price momentum. The stock has rallied by 115% year-to-date, so some analysts have raised price targets, but some question the current valuation, as a lot of upside seems to have been priced into the stock already. * A Balanced Take on Snap Stock Following First Snap Partner SummitConsensus expectations for Snap revenue and EPS for Q1 are $306.48 million and -$0.12 EPS. While the company still isn’t profitable, the financial losses have narrowed while revenue continues to grow at a 30% growth rate. Snap disclosed that the bulk of the revenue growth is coming from ARPU (average revenue per user) growth, as user growth flatlined in 2018. Snap likely will generate meaningful revenue growth as a result of optimizing pricing and inventory within its self-serve platform, so they do have room to improve per user revenue metrics, but what would really excite investors would be some growth in terms of daily active users, which has remained flat at 186 million for the past year.Some growth in users or adoption would diminish the thesis that Snapchat users are churning out of the platform in favor of Instagram. Though, in a lot of cases, people use multiple social apps so there’s definitely room for a number of social apps to co-exist together, and because Snap’s social features are optimized around the camera like Instagram, it’s easy to confuse whether the two demographics completely overlap leading to a take-all environment. Therefore, to debunk some of the narrative, what would really make Q1’19 results standout would be a surprise on user metrics, as it seems fairly likely that financial estimates will likely meet or beat expectations as the consensus estimates are based on the high-end of management’s outlook for the quarter.Ross Sandler at Barclays remains optimistic on Snap stock maintaining his overweight rating and $12 price target. (To watch Sandler's track record, click here)The analyst noted, "We remain convinced that the Snap story is similar to TWTR in 2017 whereby the turn-around should materialize into meaningful market cap appreciation as investors see a path towards growing the user base and getting back to innovation following a rough 2018. The move from $5 to $12 has priced in a good amount of our optimism around this thesis, but we still see upside from current levels. Expectations are now running high into 1Q, but we think the company continues to deliver. Our checks continue to point to healthy demand for SNAP ads in 1Q, but the company is coming off a big budget flush in 4Q and is lapping the 9-point benefit from the Olympics, so we aren't expecting much upside."Granted, not everyone is as enthusiastic about SNAP as Sandler. For example, Michael Pachter from Wedbush downgraded the stock from outperform to Neutral while still maintaining a price target of $12.25. (To view Pachter's stock-pick performance, click here)Pachter opined, "We are downgrading shares of Snap to NEUTRAL and maintaining our $12.25 PT. Since we upgraded shares of Snap on September 11, the stock has appreciated roughly 19%. Our price target is based upon a roughly 8x multiple applied to our FY:20 revenue estimate of $2.06 billion, and with shares now trading at roughly 8x the consensus FY:20 revenue estimate, we see limited upside from current levels."Also, Brian Nowak from Morgan Stanley remains bearish on the stock, but did raise his price target from $5.50 to $8.50: "We raise our forward estimates and DCF-based price target to $8.50. That said, given we still have ~30% downside and our peer-based EV/revenue to revenue growth regression implies SNAP should trade at $8/share, we likely need even stronger fundamental results (than our new numbers) to drive material outperformance from here. As such we remain Underweight."Bottom lineThe big driver to sentiment is whether or not Snapchat can turnaround user metrics and get them to grow, especially on Android. The expectations embedded into a lot of financial models imply that Snap would need to grow at a quicker pace than it currently is, and to do so, the user narrative will need to improve. With the stock having already priced-in gains, some analysts are simply revising their recommendation lower or moving around targets, but sentiment is a little more polarizing heading into Q1’19 earnings for Snap. More recent articles from Smarter Analyst: * All Eyes on Twitter (TWTR) Stock Ahead of Q1'19 Earnings * Wedbush Sets Expectations on Twitter (TWTR) Stock Ahead of Q1'19 Earnings * Cannabis Stock CannTrust (CTST) Reported Key Metrics that Give Investors Insight Into Q1'19 Results * MKM Continues to Recommend Micron (MU) Stock; Here's Why
For all the talk of stocks breaking out to new highs, most of the FAANG stocks are not among them. This earnings season could be a turning point.
Snap will release its first-quarter earnings report after the closing bell on Tuesday on the heels of a couple of key developments at the social media company.
Facebook (FB) is reporting its Q1 earnings after market-close on Wednesday, April 24th. They are expected to report an EPS of $1.65 which would represent a 2.3% decline from Q1 2018. FB is estimated to report $15 billion in quarterly revenue on Wednesday which would illustrate 31% YoY growth.
Snapchat (SNAP) is releasing earnings tomorrow after close and investors are likely in for some substantial volatility. Since their IPO in early 2017 SNAP has on average had a 20% price movement from earnings releases with 75% of those moves being to the downside.
Twitter (NYSE:TWTR) is expected to release earnings tomorrow, April 23, before the open. Year-to-date, Twitter stock is up almost 20%. I believe that the relatively strong recent performance of TWTR stock has been based on robust fundamentals. Last quarter's results showed that Twitter is making more money than ever before as it delivered its fifth profitable quarter in a row. I expect the positive trend in earnings to continue this quarter, too.Source: Andreas Eldh via FlickrWith earnings season in full swing, let us look at the catalysts that are likely to provide tailwinds to TWTR stock price during the rest of the year. Twitter Stock's Fundamentals Are RobustRecent research shows that most U.S.-residents get their news from social media as opposed to more traditional outlets, such as TV or print media. With more than 336 million monthly active users (MAUs), Twitter is one of the biggest social networks globally. Its main competitors include Facebook (NASDAQ:FB), Snap (NYSE:SNAP) and Alphabet (NASDAQ:GOOGL, NASDAQ:GOOG).InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 3 Stocks on Shaky Ground The number of users and the engagement of users are crucial in determining the value of a social network company and hence its stock price. When Twitter reports, investors will pay attention to Twitter's user metrics, particularly its monetizable daily active users (mDAU). The company revealed this metric for the first time ever during its Q4 2018 earnings report. Twitter has 126 million users daily and this figure is growing.Twitter said that it only counts users who could be exposed to ads -- its "monetizable" audience. Many investors have since cheered this number as they feel that there is further room for Twitter to grow, translating to a potential increase in the stock price.The microblogging service also reported $791 million in ad revenue in Q4, an increase of 23% year-over-year (YOY) as well as a jump in profits by 180% YOY. Finally, Twitter's data licensing revenue increased 35% YOY to $117 million. Data Licensing is Propelling TWTR's GrowthAs the world's best-known micro-blogging platform Twitter is used by politicians, journalists and global brands. Many readers see breaking global news or the opinions of famous people on TWTR first. In its February earnings release, investors applauded Twitter's data licensing business, a significant revenue generator which produced double-digit percentage growth.The data licensing business involves providing additional information to companies about tweets. Recently, the company has started offering cheaper data access packages to smaller companies, a move that is likely to increase its revenue further.Wall Street now expects Twitter's high-margin data licensing revenue to be boosted by further international expansion, as the number of overseas TWTR users are increasing, especially in the developing world. Its latest earnings call noted that the total international revenue was $403 million, an increase of 24%, or 27% on a constant currency basis.Furthermore, TWTR will be able to monetize the videos on its website more effectively as it captures a higher percentage of ad spending that is moving to digital video. Twitter owns Periscope, a live video streaming app. In general, video has far higher engagement than text or banner advertisements. To incentivize video makers, Twitter gives the creators get 70% of the ad revenue. Handling of Digital Security IssuesEspecially during 2018, Facebook has been hurt by declining user growth following the digital security issues that were revealed by the Cambridge Analytica scandal. Facebook's user losses accelerated and investors seem skeptical about its ability to resolve the complex problems it's facing.On the other hand, TWTR stock has weathered the initial headwinds of its digital security issues better than FB, as the company has taken steps to remove fake accounts and improve user engagement. Analysts and investors have credited CEO and founder Jack Dorsey with making Twitter more relevant, even as many other social media stocks are going through a rough stretch. Short-Term Technical ChartsOver the past few weeks, TWTR stock has been trading in a range of $30-$35. Priorly it has formed a base between $27.50-$32.50. This level now acts as a support zone, from which the shares can easily make a new sustained leg upwards.Tech stocks may be volatile during Q2 as there could be some short-term profit-taking following the strong Q1 gains. During this earnings season, if the internet services industry which TWTR is part of, other social media companies, or the broader market decline as the companies release earnings, Twitter stock price may also be adversely affected.When the company reports earnings on April 23, investors will pay extremely close attention to the details in the company's quarterly results. The options markets are pricing in an approximate post-earnings move of 10-12% in either direction in TWTR shares. In case of a favorable earnings report, my next price target for Twitter stock in the coming weeks is between $38 - $42.On the other hand, any disappointment in Twitter's earnings statement or future outlook could quickly send the shares to low $30's. Thus, there might be a weakness in the TWTR stock price in the near-term that potential investors should anticipate. The Bottom Line on TWTR StockAlthough I would not advocate bottom-picking as there might be more volatility and even a small initial sell-off following the Twitter earnings report, the social media company's best days from a robust fundamental perspective are likely to be ahead of it.On a final note, takeover rumors of Twitter have been around for several years. The two potential names to buy the company could be Alphabet or Disney (NYSE:DIS). * 7 Tech Stocks With Too Much Risk, Not Enough Upside Investors who are interested in social media companies, but do not want to commit all their capital to a single stock such as TWTR may also consider investing in various exchange-traded Funds (ETFs) that have Twitter as a holding, including Communication Services Select Sector SPDR (NYSEARCA:XLC) or Global X Social Media Index ETF (NASDAQ:SOCL).As of this writing, Tezcan Gecgil did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Tech Stocks With Too Much Risk, Not Enough Upside * 7 Companies That Are Closing the CEO-Worker Wage Gap * 7 Video Game ETFs That Will Make You a Winner Compare Brokers The post Should You Buy Twitter Stock Ahead of Earnings on Tuesday? appeared first on InvestorPlace.
In late 2018, it looked like digital ad stocks were on the verge of absolute disaster.It all started with rampant data privacy and security issues that stung some of the industry's titans. Then, those titans started to report numbers in 2018 that were worrisome. User growth broadly slowed, a result of fake account vetting and broader social media fatigue. Revenue growth slowed, too. Margins dropped because digital ad companies were spending an arm and a leg to doubly secure user data. Profit growth fell flat across the whole industry.What a difference a few months makes.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIn 2019, all those concerns have moved into the rear-view mirror, and digital ad stocks have roared higher. Data privacy headwinds have turned out to be temporary. Slowing user growth has been largely offset by rising engagement growth. Revenue growth has come roaring back. Margins are starting to improve after a temporary setback. Profit growth is expected to re-accelerate higher. * 10 Best Stocks to Buy and Hold Forever Because of these broad improvements across the whole industry, tech stocks -- digital ad stocks in particular -- look good for the rest of 2019. With that in mind, let's take a look at seven tech stocks that deserve your attention today. Alphabet (GOOG)Source: Shutterstock The king of the digital ad world, Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL), will naturally benefit as sentiment across the whole industry improves throughout 2019.The biggest concern over at Alphabet is margins. Revenue growth has been steady at a 20%-plus rate for several consecutive years. Given the company's wide and irreplaceable reach across Google search, YouTube and various other digital properties, this 20%-plus revenue growth rate will likely persist for the foreseeable future (self-driving and cloud revenue should help, too). But, margins have been in free-fall as there has been a huge migration to mobile ads, which Google wasn't optimized for. As such, click-through-rates were lower, and margins were hit hard.But, margins have shown signs of stabilizing for a few quarters now, and it appears that the worst of this margin headwind is behind the company. If so, revenues and margins should rise concurrently in 2019. That should produce some of the biggest profit growth rates Alphabet has seen in several quarters. Ultimately, that will help GOOG stock rally to new highs. Facebook (FB)Source: Via Stock SnapThe second-largest digital ad company in the world, Facebook (NASDAQ:FB), was hit hard in 2018 amid numerous headwinds. But, those headwinds have passed in 2019, and Facebook stock has since roared higher.This rally will continue for the rest of 2019. Broadly speaking, there are three things at play here. One, Facebook is pushing forward on a new growth vertical through e-commerce, and this revenue diversification will be well-received by investors, boost sentiment and give analysts room to move long-term estimates higher. Two, Facebook is finally figuring out how to optimally monetize Stories ads, and this will cause revenue growth rates to move higher in 2019, which will also boost investor sentiment and push long-term estimates higher. Three, Facebook's spend rates will moderate against very easy laps, creating an opportunity for huge profit growth. * 6 Cheap Stocks That Cost Less Than $10 Overall, then, the story of Facebook in 2019 will be defined by renewed revenue growth, expanding margins and robust profit growth. That tri-fecta of favorable attributes will keep FB stock on a solid uptrend for all of 2019, especially considering that the stock remains cheap relative to other high-growth, high-margin peers. Twitter (TWTR)Source: Shutterstock Once considered the ugly duckling in the digital ad world, Twitter (NYSE:TWTR) has rapidly changed its growth narrative over the past several years through renewed digital ad growth, and this narrative flip has sparked a surge in TWTR stock.To be sure, even the recovery hasn't been a smooth ride for Twitter. Twitter stock was adversely impacted in 2018 by negative user growth trends. Specifically, the company's monthly active user base started consistently shrinking. Investors didn't like that trend. Twitter has since eradicated the metric in favor of daily active users. Investors weren't too fond of that move, either.But, monthly active user base shrinkage doesn't really matter here. Instead, what matters is continued robust revenue growth, healthy engagement growth, and steady margin expansion. The market is starting to realize this. As Twitter continues to report all three of those things throughout 2019, Twitter stock will bounce back. Snap (SNAP)Source: Shutterstock All digital ad stocks have rebounded in 2019. But, none have bounced back quite like Snap (NYSE:SNAP), which has gone from zero in 2018, to hero in 2019, on its way to a 100%-plus year-to-date gain.The catalyst behind the big move higher in the stock? User base stabilization. The late 2018 plunge in Snap stock was the result of the user base declining in back to back quarters. That trend ended last quarter. The user base didn't grow. But, it didn't shrink either. Investors were encouraged that this, coupled with continued robust revenue growth and margin expansion, was a sign that the worst was over for Snap. * 7 Strong Buy Stocks the Street Loves But, that may not be true. Instagram appears to still be eating Snap's launch, and the rapid rise of Tik Tok has almost surely had a negative impact on Snap usage. Thus, next quarter's numbers may not support the big year-to-date rally in Snap stock. If so, then this stock could be due for a major sell-off. Pinterest (PINS)Source: Shutterstock In the group of publicly traded tech stocks, the new kid on the block is Pinterest (NYSE:PINS), but this newness doesn't preclude the stock from being one of the industry's more attractive investments.Pinterest went public in mid-April, and the IPO was a big success. With good reason. The fundamentals here are very good. You have a company that has a bigger U.S. user base than Twitter, and a rapidly growing international user base that is on track to be bigger than Twitter, too. Yet, Twitter has a $27 billion market cap. Pinterest has a $12 billion market cap.To be sure, the discrepancy is because Twitter currently monetizes its users at a higher rate than Pinterest, and converts those revenues to profits at a higher operating margin. But, Pinterest just started monetizing recently, and it's only a matter of time before its ARPU rates hit Twitter levels. It's also only a matter of time before margins get to or above Twitter levels, too, considering the company has near 70% gross margins.All in all, then, Pinterest appears dramatically undervalued here and now given its favorable fundamentals. The market won't let this undervaluation persist forever. As such, the opening day success of the Pinterest IPO should reasonably flow into 2019 full-year success. Amazon (AMZN)Source: Shutterstock Arguably the hottest player in the digital ad world right now is a company that isn't traditionally known for digital advertising -- Amazon (NASDAQ:AMZN).The story here is simple. Thanks to being one of the world's largest e-commerce platforms, Amazon is also one of the most-visited websites in the world. Peer highly visited websites are supported by huge digital ad businesses. Amazon isn't. But, there's no reason they can't be, given the company's huge digital traffic volume and wealth of consumer purchasing data. Consequently, Amazon is rapidly transforming into an exceptionally relevant digital ad player. * 7 No-Load Mutual Funds to Buy This transformation is a big positive for Amazon stock. Not only does it help reinvigorate overall revenue growth rates, which are being dragged down by slowing e-commerce growth, but it also provides a huge boost to profits since digital ad margins are significantly higher than e-commerce margins. Broadly, then, Amazon's push into digital ads should create a huge profit surge in 2019. That surge should push Amazon stock meaningfully higher this year. Walmart (WMT)Source: Shutterstock Flying under the radar in the digital ad world is traditional retailer Walmart (NYSE:WMT).Right now, Walmart doesn't really have a digital ad presence. But, that's about to change. The company just bought ad tech firm Polymorph Labs, shortly after the WSJ ran a piece saying that Walmart is chasing Amazon for ad dollars. In sum, these actions basically say that Walmart is following in the footsteps of Amazon, and leveraging its giant e-commerce reach to build a scalable digital ad business.The implications are likewise favorable for Walmart. The company will get a revenue boost from new digital ad revenue, and a margin and profit boost, too. Ultimately, those boosts will lead to WMT stock staying on a winning path.As of this writing, Luke Lango was long GOOG, FB, TWTR, PINS, AMZN and WMT. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Tech Stocks With Too Much Risk, Not Enough Upside * 7 Companies That Are Closing the CEO-Worker Wage Gap * 7 Video Game ETFs That Will Make You a Winner Compare Brokers The post 7 Digital Ad Stocks That Deserve Your Attention Right Now appeared first on InvestorPlace.
The recently released three major economic data of March clearly indicated that the inherent strength of the economy remains intact.
Visual discovery platform Pinterest (NYSE:PINS) started out life as public company on the right foot. The Pinterest IPO price? $19. The opening price? $23.75, up 25% from the list price. The price as of this writing? North of $24, up a few more percent from the sky high open price.Broadly speaking, the Pinterest IPO is set to be a huge opening day success. But, those who follow IPOs know that opening day successes don't always lead to long term successes. Sometimes, first day pops are all hype and no follow through. The hype fades, investors sell and the stock falls.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThat isn't the case with the Pinterest IPO. This stock is worth every ounce of hype it is receiving on opening day.In the big picture, Pinterest is a long-term winner. This is a hyper-growth digital ad company that checks off every box a hyper-growth company should check off.Robust user growth that isn't slowing much? Check. Big revenue growth from a small base with plenty of room to run? Check. Small but increasing revenue market share in a secular growth market? Check. Big and climbing gross margins? Check. Big but rapidly falling opex rates? Check. Narrowing losses? Check. Visibility to huge profits within the next few years? Check.In other words, Pinterest has what it takes to be a long term winner in the stock market. Meanwhile, the current valuation isn't stretched considering the company's long term growth potential. * 5 Dividend Stocks Perfect for Retirees Consequently, the Pinterest IPO is much more than just hype. It's hype and follow through. PINS stock will ultimately head considerably higher from here in the long run. Pinterest Is a Really Good CompanyAs a consumer, I've always had a somewhat favorable view on Pinterest. Its unique value prop as a visual discovery and curation platform in a world that is increasingly drawn to visual-first platforms and desperately in need of curation are super attractive. As an investor, after looking at the numbers in the S-1, I'm also convinced that this is a really good company with a ton of long term growth potential.First, and foremost, let's discuss why Pinterest has staying power in a crowded consumer-facing digital economy. Broadly speaking, digital search through Google or Bing has shortcomings. It's not great for searching when you don't know exactly what you're looking for. It also isn't great for contextualizing a search, or personalizing a search, or even dong much besides getting consumers to the end-point (a link).Pinterest solves these pain points by turning search into visual discovery. They create a personalized feed of visual-first Pins which are curated through genres and categories, so as to personalize and contextualize a search while allowing for discovery in the absence of a distinct search.Right now, Pinterest is the best in the world at doing this. So long as this remains true, network effects will keep Pinterest exceptionally relevant to the consumer.Now, let's dig into the numbers to see why this is a winning company. Consider all of the following: * Pinterest is bigger than Twitter (NYSE:TWTR) in America. Pinterest reported over 80 million and growing monthly active users in the U.S. last quarter. Twitter's monthly user base in the U.S. is under 70 million and falling. * Pinterest is growing more quickly than Twitter and Facebook (NASDAQ:FB) internationally. Pinterest grew its international user base by 6% sequentially last quarter. Facebook's international user growth was 2% quarter-over-quarter. It was negative over at Twitter. * Pinterest is the fastest growing public digital ad company on the revenue front. Pinterest grew revenues by nearly 60% year-over-year last quarter. Snap (NYSE:SNAP) was at 36% growth. Facebook was at 30%. Twitter was 24%. * Margins are really strong. Pinterest gross margins are near 70% and steadily improving. The opex rate is below 80% and rapidly falling. The operating loss rate is -10% and rapidly shrinking, too. * Market share is tiny. At less than $1 billion in revenue in 2018, Pinterest controls a tiny part of the near $300 billion global digital ad market, but its share in that market is growing. Fundamentals Imply Upside to a $15 Billion ValuationIn the big picture, there is fundamental runway for Pinterest stock to run towards a $15 billion valuation in 2019.Here's the math. Pinterest's U.S. user base appears to be stalling out around 80 million. Maybe that gets to 90 million or 100 million over time. That would represent right around 40% of Facebook's 250 million domestic user base. Thus, in the U.S., the rough translation is that around 40% of Facebook users see the need to also have a Pinterest account.Will that happen internationally, too? Will 40% of international Facebook users see the need to also have a Pinterest account? Probably not. But, Pinterest's international user base is already nearly 10% the size of Facebook's international user base. At scale, that could easily run towards 15%, or higher.If so, that should produce around 400 million international Pinterest users by 2025, assuming tepid growth in Facebook's user base. In addition to 100 million users in the U.S., Pinterest could be looking at a global user base of roughly 500 million by 2025.Quarterly average revenue per user exited 2018 just north of $1. That's pretty low; and it's without any meaningful international revenue. Over at Twitter, the quarterly ARPU rate is right around $2.50. Pinterest could get there by 2025, as they increase revenue opportunities and more aggressively monetize international users.A $2.50 quarterly ARPU rate on 500 million users implies $5 billion in ad revenue by 2025. Gross margins will likely scale towards 80% by then, while the opex rate should fall towards or below 50%. That would produce operating profits of about $1.5 billion, or net profits of $1.2 billion after a 20% tax deduction.Based on a growth average 20 forward multiple, that implies a 2024 valuation target of $24 billion. Discounted back by 10% per year, that equates to a fiscal 2019 valuation target of just under $15 billion. Bottom Line on the Pinterest IPOThe Pinterest IPO had a lot of hype, and deservedly so. This company is a long term winner, supported by strong fundamental growth drivers. Pinterest stock will ultimately head meaningfully higher in a multi-year window.As of this writing, Luke Lango was long PINS, TWTR, and FB. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 5 Dividend Stocks Perfect for Retirees * 7 Reasons the Stock Market Rally Isn't Over Yet * 10 S&P 500 Stocks to Weather the Earnings Storm Compare Brokers The post The Pinterest IPO Is Worth the Hype on Fundamentals Alone appeared first on InvestorPlace.
Snap (SNAP) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Snap shares have soared since Feb. 5, when the company announced better-than-expected fiscal fourth-quarter earnings. Snap said this month that Snapchat reaches nearly 75% of 13- to 34-year-olds in the U.S.
A group that monitors internet censorship said Sri Lankan authorities have blocked most social media services in the country following attacks that killed more than 200 people on Easter Sunday.
Snap Inc. (NYSE:SNAP) shares haven't seen a lot of action during the third quarter. Overall, hedge fund sentiment was unchanged. The stock was in 17 hedge funds' portfolios at the end of December. The level and the change in hedge fund popularity aren't the only variables you need to analyze to decipher hedge funds' perspectives. […]
rose 2.3% on Thursday after delivering a Q1 report that wasn't spectacular, but also didn't do anything to upend the view (now held by many) that chip industry sales are in the process of bottoming. Revenue, which was already known thanks to monthly sales reports, fell 16% annually in dollars, while EPS missed a FactSet analyst consensus by $0.02. The company also reiterated its full-year outlook for slight revenue growth, and its full-year capital spending budget of $10 billion to $11 billion.
The listing is second in the U.S. this year only to Lyft Inc.’s $2.34 billion offering in March. Pinterest’s strong showing, along with an even stronger first-day performance by Zoom Video Communications Inc. on Thursday, signals continuing investor thirst for new stocks amid a surge of unicorns -- startups valued at $1 billion or more -- coming to market. Other high-profile companies considering going public include Slack Technologies Inc., Postmates Inc., Palantir Technologies Inc. and Airbnb Inc.