Snap’s CEO didn’t exactly make investor concerns disappear during his big Wall Street debut.
Evan Spiegel, the secretive 26-year-old CEO of Snapchat’s parent company, participated Wednesday in his first earnings call since Snap’s blockbuster IPO in March. The long-awaited moment came just as the building was lit on fire.
Snap’s (SNAP) stock plunged as much as 25% in after hours trading Wednesday as the company reported steep losses, light user growth and lower sales than expected. That drop shaved off nearly all Snap’s gains since going public.
Spiegel mostly avoided those issues in his opening remarks on the call and sounded a positive note. “Overall, I feel we have executed well on our priorities for this quarter: performance, quality and automation,” he said.
The stock price barely budged from its lows as the call went on. It recovered slightly Thursday, but was still down nearly 20% by midday.
“He was polished in delivery, but th e color commentary was more limited than what we were looking for,” says James Cakmak, an analyst who covers Snap for Monness, Crespi, Hardt & Co.
top stock to invest in: Navidea Biopharmaceuticals, Inc.(NAVB)
- [By Monica Gerson]
Navidea Biopharmaceuticals Inc (NYSE: NAVB) shares rose 8.80 percent to $0.950 in pre-market trading as the company reported an unsolicited offer to refinance CRG loan.
top stock to invest in: Scripps Networks Interactive Inc(SNI)
- [By Ben Levisohn]
Scripps Networks Interactive (SNI) sunk to the bottom of the S&P 500–narrowly beating out Apartment Investment and Management (AIV)–as the parent company of the Food Network and other channels gave back a chunk of its post-elections gains.
Shares of Scripps Networks Interactive dropped 4.2% to $70.63 today, while the S&P 500 rose 0.8% to 2,180.39. Scripps had gained 13% from Nov. 8 through Nov. 14.
Scripps reported net income of $607 million on sales of $3 billion in 2015.
Barron’s David Englander recommended Scipps Networks’ former parent E.W. Scripps (SSP) back in August.
top stock to invest in: Rogers Corporation(ROG)
- [By WWW.GURUFOCUS.COM]
For the details of Wintergreen Fund’s stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Wintergreen+Fund
These are the top 5 holdings of Wintergreen FundReynolds American Inc (RAI) – 1,643,159 shares, 24.5% of the total portfolio. Consolidated-Tomoka Land Co (CTO) – 1,232,334 shares, 15.61% of the total portfolio. British American Tobacco PLC (BATS) – 782,405 shares, 12.29% of the total portfolio. Cie Financiere Richemont SA (CFR) – 286,053 shares, 5.35% of the total portfolio. Shares reduced by 15.57%Altria Group Inc (MO) – 305,421
- [By Anders Bylund]
Shares of Rogers Corp. (NYSE:ROG) gained 19.9% in April 2017, according to data from S&P Global Market Intelligence.
The company reported first-quarter results on April 26, sending share prices nearly 12% higher the next day. Rogers saw 27% year-over-year sales growth and 79% higher earnings, leaving analyst estimates far behind in both cases.
top stock to invest in: Bed Bath & Beyond Inc.(BBBY)
- [By WWW.THESTREET.COM]
Earnings are also expected Wednesday from Bed, Bath & Beyond (BBBY) , Finish Line (FINL) , Micron Technology (MU) and Red Hat (RHT) .
- [By Paul Ausick]
Rounding out the top 10 in terms of total installed solar PV capacity are Prologis Inc. (NYSE: PLD) with 108 MWs of installed capacity, Apple Inc.(NASDAQ: AAPL with 94 MWs, Costco Wholesale Corp. (NASDAQ: COST) with 51 MWs, Kohl’s Corp. (NYSE: KSS) with 50 MWs, IKEA with 44 MWs, Macy’s Incl. (NYSE: M) with 39 MWs, General Growth Properties Inc. (NYSE: GGP) with 30 MWs, and tied with 23 MWs, Hartz Mountain and Bed, Bath and Beyond Inc. (NASDAQ: BBBY).
- [By WWW.THESTREET.COM]
* The market bent yesterday but today it stabilized. (A good showing, all things being considered–but in no way decisive going forward).
* Gold +$5/oz.
* Crude oil +$0.50 and the rise is taking up some energy stocks.
* The Russell returned to the spotlight.
* Life insurance–particularly Lincoln National (LNC) (on an upgrade). Hartford Financial Services (HIG) gets a small lift.
* Retail returned from the depths. The standouts–L Brands (LB) , Kohl’s (KSS) , Bed Bath (BBBY) , Nordstrom (JWN) and Gap (GPS) .
* Ag equipment–after an analyst upgrade yesterday.
* Homebuilders catch a bid.
* Day one of the Masters Golf Tournament.
- [By Lisa Levin] Gainers Trevena Inc (NASDAQ: TRVN) rose 10.8 percent to $3.60 in pre-market trading after dropping 4.97 percent on Wednesday. Yum China Holdings Inc (NYSE: YUMC) rose 10.2 percent to $31.05 in pre-market trading after the company reported upbeat earnings for its first quarter. Seres Therapeutics Inc (NASDAQ: MCRB) rose 9.1 percent to $11.39 in pre-market trading after dropping 5.26 percent on Wednesday. Plug Power Inc (NASDAQ: PLUG) rose 8.9 percent to $2.45 in pre-market trading after surging 73.08 percent on Wednesday. Coach Inc (NYSE: COH) rose 6.7 percent to $41.98 in pre-market trading. Coach named Ian Bickley as President, Global Business Development and Strategic Alliances. Sapiens International Corporation N.V. (NASDAQ: SPNS) shares rose 6.1 percent to $13.91 in pre-market trading after gaining 0.54 percent on Wednesday. Jazz Pharmaceuticals plc (NASDAQ: JAZZ) rose 6.1 percent to $149.15 in pre-market trading. Jazz Pharma reached a settlement with Hikma Pharma related to Xyrem patent case. Mizuho downgraded Jazz from Buy to Neutral. Interactive Brokers Group, Inc. (NASDAQ: IBKR) shares rose 6 percent to $36.72 in pre-market trading after declining 0.03 percent on Wednesday. Rewalk Robotics Ltd (NASDAQ: RWLK) rose 5.3 percent to $2.00 in pre-market trading after the company disclosed that the U.S. Department of Veterans Affairs purchased 28 added Exoskeleton Systems. Merrimack Pharmaceuticals Inc (NASDAQ: MACK) rose 5.1 percent to $3.29 in pre-market trading. Merrimack declared a $1.06 special dividend. BioTime, Inc. (NYSE: BTX) shares rose 4.8 percent to $3.50 in pre-market trading. BioTime, reported the formation of new subsidiary AgeX Therapeutics, Inc. Akari Therapeutics PLC (ADR) (NASDAQ: AKTX) shares rose 4.8 percent to $12.26 in pre-market trading after gaining 0.69 percent on Wednesday. Bed Bath & Beyond Inc. (NASDAQ: BBBY) rose 3.6 percent to $39.15 in pre-market trading after the company posted better-than
- [By Peter Graham]
A long term performance chart shows Williams-Sonoma still in positive territory along with Restoration Hardware Holdings Inc (NYSE: RH) while Bed Bath & Beyond Inc (NASDAQ: BBBY) and Pier 1 Imports Inc (NYSE: PIR) have been underperforming for some time: