14.79 -0.04 (-0.27%)
After hours: 7:44PM EDT
|Bid||14.77 x 4000|
|Ask||14.79 x 800|
|Day's Range||14.63 - 15.00|
|52 Week Range||4.82 - 15.00|
|Beta (3Y Monthly)||0.82|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 5, 2019 - Aug 9, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||11.56|
Snap shares popped on Tuesday after BTIG's Rich Greenfield raised his price target to $20 per share, up from $15, on the belief that the company's recovery has meaningfully increased. Rich Greenfield joined Myles Udland and Jen Rogers on the Final Round with his take on Snap.
Snap could be winning back Wall Street. Aegis Capital upgraded the stock to a 'buy' rating, saying it is confident in the company's user engagement and advertising platform. Yahoo Finance's Seana Smith and Dan Howley discuss.
Despite its size, Facebook (FB) continues to add more users than any other social media app. According to the latest report by SensorTower, Facebook saw the highest number of global downloads in May across both the Google Play Store and the iOS App Store.
Amid an overall bull market, many stocks that smart money investors were collectively bullish on surged during the first quarter. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained 40% and 25% respectively. Our research shows that most of the stocks that smart money likes historically generate strong risk-adjusted […]
Contrary to your suspicion after reading the title, I was not smoking any cannabis products when I wrote today's note. But let's get the negatives out of the way before sharing the opportunity in IBM (NYSE:IBM) stock.Source: Shutterstock I've been a critic of IBM's management because they have failed at adapting to the new world order. They have yet to complete the transition into the new tech world, which centers around subscription services. They keep talking the talk, but every earnings report shows disappointing progress.Meanwhile, companies like Microsoft (NASDAQ:MSFT) got the job done, and that's why Wall Street rewarded them with record prices. IBM stock is almost 40% below its all-time high so clearly they have more work to do.InvestorPlace - Stock Market News, Stock Advice & Trading Tips The Upside in IBM StockHaving said that, today's write-up is to share an 18% upside opportunity in IBM. This is a technical setup and it's completely independent of my opinion of IBM's management. I believe that they need a new CEO, but for some reason Wall Street still hasn't pushed Ginni Rometty out from the job. For today's purpose, this does not impact this bullish opportunity.The entire stock market corrected hard last October and it didn't end until late December. During that time, IBM fell 30%. But the story has a happy ending, because on Christmas the market bounced. IBM stock rallied 35% to recover almost all of its losses. But it stalled at a significant volume level which is a point-of-control around $145 per share. So it failed to recover the $153 to fill the whole correction range.What killed the rally were the most recent earnings. The negative headline reaction caused IBM stock price to fall 13% since mid April. The good news is that this almost fills the gap that the prior earnings spike left open. * 7 Value Stocks to Buy for the Second Half The IBM recent levels are neat. The rallies and corrections happen at levels that make technical sense, so they weren't surprises. And this gives today's opportunity trade clear target and stop-loss levels.For the last few weeks, IBM has been building an inverse head-and-shoulders pattern where the neckline is just above current price. If the bulls can break out from $137, they will invite momentum buyers to carry it up to $145 per share.But this is where it gets interesting, because that would put IBM at the doorstep of an even bigger bullish pattern. If the price can rise above $146, it would kick-start a cup-and-handle-ish pattern to target $160 per share. There will be resistance along the way had $153.Simpy put, I'm suggesting that there is a small bullish pattern developing here that could also launch a secondary and bigger pattern above. Together they would catapult IBM stock to $160 per share or higher. In total, the opportunity from today could exceed 18% upside.This will require the help of the entire market. Today's Fed binary event and next week's China trade deal rhetoric are two big extrinsic variables that could gravely affect the odds of the opportunity at hand. Levels to Watch in IBMSince this is a trade not an investment, stop losses are important. There are lines below to note, but these depend on personal risk tolerances. For the lower-time-frame stops, $134 per share is important. This applies to traders who want a tight stop and do not want to turn this trade into an investment.For traders with a bit more patience, IBM has support through $132 per share. So if the price action can stay above it then today's setup is still alive. Conversely, losing $126.75 would trigger a bearish pattern that would target $118 per share. While this is not my forecast, it is a scenario that exists if things get ugly.There is a twist in this story which is good news for those who are bullish IBM for the long term.On the weekly chart time frame, IBM has been setting higher lows and lower highs and it is coming into a point. More interesting is that this also coincides with important levels from February 2016. When this happens, usually there is a big move that follows but the direction is yet unknown. For as long as IBM continues to set higher lows then odds are that the bulls will prevail. Click to Enlarge And if this is the case then they will break out of the descending trend line of lower highs. So here we have two different bullish setups on different time frames. They converge here so they could combine to make the 18% rally in IBM almost certain. We recently had that happen to Snap (NYSE:SNAP) where two scenarios on two different time frames one long and one short both converged and let to a great rally there.At these levels and since IBM has a forward price-to-earnings ratio of 10 it has little froth in it. Owning it here is not likely to be a financial tragedy. So the upside opportunity is far greater than the downside risk especially if I use tight stops.Or investors can use the options markets, where the out-of-pocket risks is much smaller and the reward is definitely bigger.In options I can buy Aug $160 calls for 60 cents per contract. This is a small price to pay for a time limit bet. But the disadvantage in using options is that time is my enemy. If I own IBM shares, time doesn't diminish their value like in options.That's why I personally prefer selling puts to express my bullish thesis. I can sell the October $100 put and collect $1 to open the trade. This way I don't even need a rally to profit. As long as IBM shares are above $100 in mid October then I win. If IBM collapses, I accumulate losses below $99 per share but that is much better than owning shares and riding them all the way down from here.Options are tricky, so I would never sell naked puts unless I am willing and able to buy the shares at that price. Otherwise, I would use bull put spreads instead.Regardless of the method, today's upside opportunity in IBM's is there for the taking.Nicolas Chahine is the managing director of SellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. Join his live chat room free here. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Value Stocks to Buy for the Second Half * 7 Hot Stocks to Buy for a Seemingly Sleepy Summer * 6 Chip Stocks Staring At Big Headwinds in 2019 Compare Brokers The post IBM Stock Has an 18% Rally at Hand appeared first on InvestorPlace.
U.S. stock futures are trading near unchanged this morning as traders gear up for this afternoon's announcement from the Federal Reserve.Ahead of the bell, futures on the Dow Jones Industrial Average are up 0.05%, and S&P 500 futures are higher by 0.03%. Nasdaq-100 futures have added 0.13%.In the options pits, call trading zoomed higher helping drive overall volume to above-average levels. Specifically, about 22.8 million calls and 16.7 million puts changed hands on the session. The bullish festivities made waves at the CBOE, where the single-session equity put/call volume ratio plunged to 0.55 -- a two-week low. Meanwhile, the 10-day moving average slipped to 0.55.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSnap (NYSE:SNAP) saw renewed options interest after a price target hike from BTIG sent its stock flying. Boeing (NYSE:BA) stock soared after the aerospace juggernaut received a large buy order at the Paris Air Show. Finally, United States Steel (NYSE:X) benefited from a resurgence in the metal and mining sector.Let's take a closer look: Snap Inc (SNAP)The message from Snap's volume patterns is clear -- institutions are stampeding into the stock. Yesterday's rousing 9.7% rally was simply the latest episode in a saga of accumulation days. As is usual for outlier sessions, there was a catalyst. BTIG analyst Rich Greenfield boosted the firm's price target from $15 to $20 while reiterating a buy rating. Greenfield cited his firm's increased conviction in the Snapchat parent as well as investors skepticism of the ongoing SNAP stock recovery as reasons for the renewed optimism. * 10 'Buy-and-Hold' Stocks to Own Forever This year's turnaround is certainly worth celebrating. What began as a sharp up-gap following February's earnings release has grown to a full-fledged long-term trend turnaround. SNAP is now up 170% year-to-date.Derivatives traders were certainly excited about Tuesday's action. The groundswell in activity to 266% of the average daily volume made SNAP the most popular stock in the options pits; 276,294 total contracts traded with calls claiming 76% of the tally.The uptick in demand lifted implied volatility to 54%. With an IV rank of 21%, it remains in the lower quartile of its one-year range suggesting long premium plays (like long calls) are the way to go. Traders are pricing in daily moves of 50 cents or 3.4%. Boeing (BA)Boeing stock is turning the corner. So says Tuesday's 5% surge, which delivered a breakout that finally pulled the beaten-down aerospace stock into an uptrend. It marks the first time BA stock has been above the 50-day moving average since the fallout from the fatal Ethiopian airlines crash of its 737 MAX earlier this year.A flood of new orders for Boeing's aircraft at the Paris Air Show had bulls on the move yesterday. International Airlines Group revealed its intent to purchase 200 737 MAX jets. The company also nabbed orders for two 787 Dreamliner aircraft.With the price trend of BA stock now pointing higher, bullish trades are back on the menu. Consider $400 the next upside target.On the options trading front, traders chased calls throughout the session. Total activity climbed to 219% of the average daily volume, with 159,187 contracts traded. Calls accounted for 66% of the take.Implied volatility grew to 28%, reflecting an increase in option premiums. The reading now stands at the 27th percentile of its one-year range. The expected daily move in the stock is $6.59 or 1.8%. Bull call spreads offer a smart, limited risk bet on more upside here. United States Steel (X)Traders came after metal and mining stocks in a big way. The Metals & Mining ETF (NYSEARCA:XME) saw its second-highest volume session of 2019 and climbed 2.9%. United States Steel proved one of the most popular stocks in the industry, notching a 4.4% gain of its own.But bulls weren't finished. The buying binge is continuing premarket with the stock up another 4% to $15.15. * 7 Hot Stocks to Buy for a Seemingly Sleepy Summer Watch for a close above the 50-day moving average to signal X stock's four-month downtrend has finally ended. Depending on the outcome of this afternoon's Fed announcement, it could happen today. A break back below support at $13.20 would invalidate the reversal attempt. Consider that an appropriate stop area.On the options trading front, calls outpaced puts by a modest margin. Total activity rocketed to 150% of the average daily volume, with 86,281 contracts traded. Calls claimed 60% of the sessions sum.Implied volatility drifted sideways but remained at a lofty 57% or the 57th percentile of its one-year range. Naked puts are an interesting play here. Premiums are pricing in daily moves of 52 cents or 3.6%.As of this writing, Tyler Craig didn't hold a position in any of the aforementioned securities. Check out his recently released Bear Market Survival Guide to learn how to defend your portfolio against market volatility. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Value Stocks to Buy for the Second Half * 7 Hot Stocks to Buy for a Seemingly Sleepy Summer * 6 Chip Stocks Staring At Big Headwinds in 2019 Compare Brokers The post Wednesday's Vital Data: Snap, Boeing and United States Steel appeared first on InvestorPlace.
A sizeable chunk of Tuesday's intraday gain was given back before the closing bell rang, though even then the S&P 500 was able to muster a 0.97% win. But, between the bullish gap and the headlines needed to make it happen, it's anyone's guess as to where things go from here.Source: Allan Ajifo via Wikimedia (Modified)Snap (NYSE:SNAP), parent company of Snapchat, was arguably the most noteworthy winner, rallying nearly 10% after BTIG upped its price target to $20. General Electric (NYSE:GE) did more to help the overall market though, gaining almost 4% after long-term doubter John Inch, analyst with Gordon Haskett, conceded that at the very least, GE wouldn't face insolvency. Fanning those bullish flames is a projection that General Electric expects this year's Paris Air Show to yield at least $35 billion worth of orders.Holding the market back more than any other name was La-Z-Boy (NYSE:LZB), down 1.5% during the regular hours session, but off more than 8% in after-hours action after posting poor fourth-quarter numbers after the closing bell rang.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Hot Stocks to Buy for a Seemingly Sleepy Summer Except for GE, none make for great trading prospects headed into Wednesday's trading. And for that matter, stock charts of McCormick & Company (NYSE:MKC), FMC (NYSE:FMC) and Pfizer (NYSE:PFE) all look like better prospects than GE from a risk/reward perspective. Here's why. Pfizer (PFE)A little less than three weeks ago, Pfizer was featured as a name that was about to break out, but would have to clear an incredibly tough hurdle to do so. It did so. Namely, it not only broke above the upper boundary of a falling trading range, but broke above the pivotal 200-day moving average line, plotted in white on both stock charts.It's what has happened in the meantime that merits this second look. Although progress has been slow, thanks to yesterday's renewed strength, PFE is entirely back above the 200-day line and now knocking on the door of another resistance level. A move above that ceiling could prove catalytic, as there are no major technical ceilings left standing in the way. Click to Enlarge * The last line in question is $43.34, marked with a white dashed line on the daily chart. That's where Pfizer peaked in April, and where it peaked earlier this month. Shares are one good day away from moving above it. * Beyond that, plotted in red, the highs around $43.80 are the next most likely stumbling blocks, though it's likely they're not a terribly big factor at this point. * Bolstering the bullish case is how much volume took shape behind yesterday's modest advance. It's a subtle hint there are more bulls waiting in the wings, if they can just find enough to be confident about. McCormick & Company (MKC)McCormick & Company shares were nothing but bullish between January's deep low and the rally through early April … a move that reclaimed a miserable last few weeks of last year and rekindled the bullishness from the bulk of 2018.The past several weeks have been decidedly less bullish though. While still making forward progress, that progress was shallow and only driven by a modestly rising support line. And as of Tuesday, that line is on its last legs, and the sellers are starting to turn into a horde. * 10 Tech Stocks to Buy Now for 2025 Click to Enlarge * The support line in question is marked as a white dashed line on both stock charts, tagging all the key lows going back to early April. You have to look closely to see it, but Tuesday's weakness actually broke under that line. * Simultaneously, yesterday's 1.18% setback dragged MKC under the purple 50-day moving average line, which had served as a support line earlier in the month. * Zooming out to the weekly chart of McCormick & Company we can see weakness has already developed in earnest, even if the trend is still "up." The Chaikin line is en route to fall below zero, and we're just one more bad week away from a bearish MACD crossunder. FMC (FMC)Since the middle of last year, FMC has made several attempts to break above what's become a well-established resistance line right around $80.75. Clearly each attempt has failed, resulting on various levels of selloffs.The buyers are at it again though, and this time the outcome may well be different. This time, the effort is starting out from a point that wasn't so deep in the hole. With less ground to cover just to get into position for a breakout thrust, there's more gas in the tank to actually get the stock over the hump. Click to Enlarge * That "hump" is plotted with a yellow dashed line on both stock charts. Although not perfect resistance, it's clear there's something about that level holding FMC shares back. If it can be hurdled, the buying floodgates could readily open. * Last month's low around $71 is a much healthier start to the effort than the December low near $61 was. * Backing out to see the weekly chart we can readily identify a bullish undertow in the Chaikin line as well as with the fresh MACD crossover.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Value Stocks to Buy for the Second Half * 7 Hot Stocks to Buy for a Seemingly Sleepy Summer * 6 Chip Stocks Staring At Big Headwinds in 2019 Compare Brokers The post 3 Big Stock Charts for Wednesday: Pfizer, FMC and McCormick & Company appeared first on InvestorPlace.
The Dow and S&P 500 on Tuesday finish at their highest levels in about six weeks ahead of a key Federal Reserve decision, as President Donald Trump tweeted that he had a productive conversation with Chinese counterpart Xi Jinping.
Snap Inc.’s former Chief Strategy Officer Imran Khan has launched his next venture. Verishop opened on Tuesday online and on iOS with its sights set on Amazon.com Inc. The new online shopping venture — more of a department store than a marketplace — targets millennials with a curated selection of women’s, men’s, home and beauty products. Verishop also offers a Tastemakers section featuring picks from influencers such as Jess Conte and Alex Costa, and The Responsible Shop with “brands and products that uphold a higher level of social consciousness.” Similar to Amazon (NASDAQ: AMZN), Khan’s new venture promises free two-day shipping with no minimum purchase, free returns within 30 days and 24/7 customer service.
SNAP stock is heading higher on Tuesday following a new price target for it.Source: Shutterstock The new price target for Snap (NYSE:SNAP) comes from BTIG analyst Rich Greenfield. This update from the analyst has the price target for SNAP stock increasing from $15 per share to $20 per share.That new price target for SNAP stock represents a roughly 33% increase over the previous price target from Greenfield. It is also sitting at about 47% above the stock's closing price of $13.55 on Monday.InvestorPlace - Stock Market News, Stock Advice & Trading Tips"We believe street expectations for user growth and revenues/Ebitda are simply too low, with far too many investors continuing to ignore Snapchat's recovery, driven by repeated overpromising/missing expectations during Snapchat's first two years as a public company," Greenfield says in a note obtained by MarketWatch.What doesn't change from this recent update on SNAP stock is the BTIG analyst' rating. The firm continues to hold a "Buy" rating for the stock. The reason for the rating is the belief that the company will continue to see increasing user growth with its core demographic of users between the ages of 13 and 34. * 5 Stocks to Buy for $20 or Less Another benefit for SNAP stock comes from new features it is introducing. This includes the addition of games within its app. There have also been new filters that have gone over well with users. Other new filters that perform well may also be a reason that Snap could see an increase in users, CNBC notes.SNAP stock was up 8% as of noon Tuesday and is up 134% since the start of the year. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 5 Red-Hot IPO Stocks to Buy for the Long Run * 5 Stocks to Buy for $20 or Less * 4 Dow Jones Stocks Ready to Rise As of this writing, William White did not hold a position in any of the aforementioned securities.Compare Brokers The post Why SNAP Stock Is Surging Today appeared first on InvestorPlace.
(Bloomberg) -- Snap Inc. shares jumped on Tuesday, extending a multi-month surge that has seen the stock nearly triple in value as analysts grow more confident that the social-media company is in the middle of a turnaround.The stock jumped as much as 9% and was trading at its highest level since April 2018. Shares have gained more than 190% off a December low.Tuesday’s rally was fueled by BTIG raising its price target by $5 to $20. The move was just the latest reflection of the firm’s growing confidence in the company, which is known for its Snapchat social-media app. BTIG upgraded Snap to neutral in December, and then to buy in March, and now its target is the highest on the Street.There are “far too many investors” ignoring the company’s recovery, analyst Richard Greenfield wrote, adding that his own conviction “has meaningfully increased” since March. He listed eight catalysts that could extend the rally, including a “more open approach to third-parties” and higher daily active users, and lamented that consensus expectations for user growth and revenues/Ebitda “are simply too low.”Snap’s 2019 rally picked up steam in early February, when its fourth-quarter results beat expectations and it pointed to a stabilizing user base. An additional leg up followed in April, when it announced a suite of new products and services, including a video-game business.One of the most significant catalysts came after Chief Executive Officer Evan Spiegel said a highly anticipated Android redesign would be fully rolled out by the end of the year, news that helped assuage concerns over user engagement.“With the Android rebuild stunting user growth for much of 2018, the launch of the updated app is supporting a resurgence in Android users,” Jefferies analyst Brent Thill wrote on Tuesday, citing an analysis of Android data for April and May. “Positive user growth in 1Q has continued into 2Q and time spent on the platform is relatively stable.”Jefferies has a hold rating on the stock, writing that “improvements may already be priced in” and that it was waiting for a better entry point to turn more positive.On Monday, Aegis Capital Corp upgraded Snap to buy from hold, in what the firm noted was the first time it had recommended the stock “since our pre-IPO initiation work, when we were skeptical of Snap’s ability to drive user growth.” Now, analyst Victor Anthony sees fundamentals improving to the point that he no longer thinks Spiegel should find a buyer for the company.“Snap can stand on its own,” he wrote.To contact the reporter on this story: Ryan Vlastelica in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Catherine Larkin at email@example.com, Steven FrommFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Snap (SNAP) is in talks to license music rights from Sony Music Entertainment (SNE), Universal Music Group, and Warner Music Group. Snap is pursuing music licenses from these record labels to expand how people share songs in posts on its Snapchat app.
Snap Inc. shares continued their big rally on Tuesday after an analyst expressed increased optimism about the company’s latest attempts to monetize its platform and drive user growth.
Snap shares moved sharply higher during Tuesday's session after BTIG became the second firm to issue bullish commentary this week.
Snap stock has rocketed more than 140% so far this year. Shares of the Snapchat parent could continue surging, according to one observer.
shares traded sharply higher Tuesday following a pair of analyst upgrades for the instant messaging app maker as it wins back faith from Wall Street amid improving revenues and longer user engagement. Aegis Capital boosted its price target on Snap by more than 50% to $17 a share, and upgraded its rating to "buy" from "hold", as it "walks back" a previous view that the group should seek a buyer for the business. Aegis analyst Victor Anthony increased his 2020/2021 revenue estimate by 5% and 10% respectively, citing improved results from the Android rebuild of the Snapchat app and a better advertising platform.
Snap (SNAP) has partnered with Shopify (SHOP) to allow certain accounts to set up retail stores in its Snapchat app. The Shopify-powered Snapchat stores feature has initially rolled out to certain Snapchat influencer accounts, but there are plans to roll it out to creators, publishers, and brands later this year.
Snap (SNAP) is developing an events feature that would allow users of its Snapchat app to create an event and assign it a time and place. People invited to the event can also join discussions for the event by swiping up. Facebook (FB) also offers a feature that allows users of its social network to easily plan events.
Shares of Snap Inc. are up 3.7% in premarket trading Tuesday after BTIG analyst Rich Greenfield raised his price target on the stock to $20 from $15. "We believe street expectations for user growth and revenues/Ebitda are simply too low, with far too many investors continuing to ignore Snapchat's recovery, driven by repeated overpromising/missing expectations during Snapchat's first two years as a public company," he wrote. Greenfield is upbeat about Snap's increasing embrace of third parties, new Snapchat filters that have been gaining traction, as well as the company's launch of new in-app games. Snap shares have climbed 146% so far this year, as the S&P 500 has risen 15%.
The dynamic around the Federal Reserve has changed this year. Whilst for the past few years traders felt pretty comfortable second guessing what would, or would not, happen to the Federal Funds Rate, tomorrow's decision feels very much up in the air. On one hand, there's the pressure the Trump administration's trade war is putting on certain areas of the economy, on the other, inflation is still tracking sub-2 per cent and on Friday, retail sales rose 0.5 per cent month-on-month in May, up from 0.3 per cent in April.