Company
Snap Inc
NYSE:SNAP
The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps. Snaps are viewed primarily through the Snapchat application, but can also be embedded on the Web or on television in certain circumstances. Snapchat opens directly into the Camera, helping in creating a Snap and sending it to friends. The Company’s advertising products include Snap Ads and Sponsored Creative Tools, such as Sponsored Lenses and Sponsored Geofilters. As of December 31, 2016, on an average, 158 million people used Snapchat every day to Snap with family, watch Stories from friends, see events from around the world, and explore curated content from publishers.
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Snap price target slashed to $12 by Canaccord after big 3Q revenue miss
Canaccord said Snap is growing at the slowest rate in company history as privacy changes and inflation affect advertising spent on the platform
Snap warning drags on Facebook and Google owners
Losses for the quarter were US$360mln with the group now running up a deficit of US$1.14bn in the year so far
Snap stock price crackles and drops over 25% after 3Q revenue miss
"We expect that the operating environment will continue to be challenging in the months ahead," Snap said
Snap ditches Web3 plans amid mass layoffs
Metaverse-related plans first on the chopping block for struggling social media company
Snap plans to lay off a fifth of its staff - report
The social media group’s share price has dropped nearly 80% this year
Snap considers headcount cull weeks after net loss doubles
The social media platform plans to reduce its headcount after its net loss widened in the second quarter
Snap bears the brunt as digital advertising suffers in downturn
Shares tumbled 25% as it missed a raft of Wall St forecasts
US stocks rise Wednesday after Fed meeting minutes signal further interest rate hikes
The minutes reaffirmed that the Fed's position is that it would be appropriate to rise interest rates by 50 basis points over the next couple of meetings
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FTSE 100 ends with gains but off days highs as investors await minutes from last Fed meeting
At the close, the UK blue-chip index was 38.40 points, or 0.5% higher at 7,522.75, below the session peak of 7,546.41 but above the day's low of 7,484.35
Snap dives and spooks wider tech sector
The social media company blamed economic conditions worsening "further and faster than anticipated", as well as changes to Apple's iPhone privacy settings and the war in Ukraine
Hardware & electrical equipment
Snap first-quarter loss sends investors into tizzy
Snap is the first of the major tech companies to report first-quarter earnings, and its results could cast a shadow over Meta Platforms Inc and Twitter Inc
Hardware & electrical equipment
Snap reports first quarterly profit and quicker-than-expected recovery from Apple privacy changes
Daily active users totalled 319 million at the end of 2021 and are expected to rise as high as 330 million by the end of March
Instagram, Snapchat and Tiktok among apps accused of breaching UK's Children's Code
The Children’s Code, officially called the Age Appropriate Design Code, came into force in August and carries potential fines of up to 4% of global turnover for companies that do not comply
Snapchat and TikTok face fines unless they protect users from harmful videos under new UK rules
Video-sharing platforms to have breached Ofcom's obligations to protect users could be fined up to 5% of turnover or £250,000, whichever is bigger
Hyped growth stocks heading for dotcom bubble-style crash, says investment manager
Eugene Barbaneagra told Proactive that 2020 has seen an acceleration of new money flowing into asset bubbles and "speculative investments, including into unprofitable hype stocks", all of which could go into reverse when the bubble finally
Snap shares hit record high as revenue more than doubles
The disappearing messages app also reported earnings of US$0.10 per share, blowing past analyst predictions of a US$0.01 loss
Hardware & electrical equipment
Snap warns Apple privacy changes could risk ad business
The Snapchat owner said the changes, which will ask Apple's iPhone users for consent to use their data for personalised ads, presented a "risk of interruption to [advertiser] demand"
Snap surges as users lap up augmented reality filters and video content
Snapchat’s 249mln daily active users compares well to Twitter’s 186mln and 100mln for TikTok, though remains dwarfed by Instagram’s 500mln
Snap stock slides as COVID-19-led user growth proves ephemeral
Second quarter user numbers increased by 17% but underwhelmed expectations that were raised in the early weeks of the coronavirus (COVID-19) pandemic
Snap shares rally as user activity surges in coronavirus lockdown
Communications, users, and downloads were higher amid the early days of lockdown, the Snapchat owner confirmed
Snap shares drop pre-market trading as Snapchat owner sees fourth-quarter revenue miss estimates
Snap said its quarterly revenue increased by 44% to $560.88 million but that missed the consensus estimate of $563.03 million
UBS hikes Snap to Buy and raises price target to $24 on ‘momentum’
Analysts expect Snap to keep increasing its ad revenue and user growth into the new year
Snap shares struggle despite third quarter revenue beat, strong user growth
The social media giant saw its active users increase 13% to 210 million and revenue grow to $446 million from $298 million
LATE MOVERS: McDonald's stock hits all-time high as Wells Fargo boosts target; New Age Beverages extends licensing agreement with Bob Marley's family
Also moving Wednesday were AT&T, Boeing, Anadarko Petroleum and Snap
Tech firms lead rebound in IPOs but disappointing Lyft float raises concerns about hefty valuations
Could a rough start to trading by ride sharing company Lyft set the stage for upcoming tech IPOs?
Investments and investor services
MOVERS: Snap's new gaming platform earns upgrade; Intel dips on downgrade
Also making moves Friday were Intel and Office Depot
Uber picks NYSE for its US$120bn IPO next month – media reports
The ride-hailing app giant is set to list on the New York Stock Exchange in April, according to Bloomberg, which cited people familiar with the matter
LATE MOVERS: Dollar General stock swoons on 4Q earnings miss; GE closes up on positive outlook
Also making moves Thursday were Facebook, Snap and MongoDB
Investments and investor services
LATE MOVERS: Chipotle gains after 4Q earnings and revenue beat estimates of analysts
Also moving were General Motors and Take-Two Interactive Software
Investments and investor services
Late Movers: Alcoa picks up traction after-hours on swing to 4Q profit
Other stocks moving include Aurora Cannabis, Goldman Sachs, Ford, Bank of America, Sears, Snap and merger target First Data
Early Movers: Amazon shares tumble on disappointing earnings while the McRib sandwich makes a comeback at McDonald's
Snap, the parent of the social media messaging app Snapchat, is also being punished for a lacklustre earnings report, before the opening bell
Snap beats Street's 3Q revenue and profit estimates, but still struggles to draw new users
Snap’s redesign has faced challenges attracting more users since its introduction last year
Hardware & electrical equipment
Facebook Stories hits 300M Daily Active Users and welcomes advertisers to the feature
In comparison, Snapchat reported 181 million daily active users
A clutch of Wall Street analysts downgrade Snap, sending its shares plunging
“Tired of watching Snapchat decline from the sidelines”, BTIG analyst Richard Greenfield downgraded the messaging app to Sell from Neutral and set its price target at US$5
Wedbush upgrades Snap to Outperform, raises price target on confidence in turnaround
The analysts were confident Snap would ‘turn the corner sooner rather than later,’ benefitting from new executive leadership
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EARLY MOVERS: CBS takes center stage as boss Les Moonves resigns amid sexual misconduct claims; Alibaba stock lower
Also in focus in New York pre-market trade are Snap Inc and Nike Inc's impressive sales figures
FTSE 100 ends in positive territory as Barnier now sees potential Brexit deal in weeks
The UK's index of leading shares added 1.6 points, or 0.02% , to finish at 7,279, while sterling was up 0.80% against the US dollar
Snap Inc says source code leaked; zips past 2Q revenue and profit estimates
Despite shedding daily active users in the quarter, the social media company's shares soared after beating Wall Street's revenue and profit estimates
Wall Street takes bets on Snapchat ahead of today's second-quarter earnings
Will Snap's revenue and monthly users be enough to prevent a sell-off?
These OTC-traded companies are ready to disrupt the big-cap social media space
A flurry of social media scandals left some users looking for alternative ways to share. Two companies fill the need.
Hardware & electrical equipment
WhatsApp chips away at Facebook as young people turn to the messaging app to discuss news events, says Reuters Institute
News usage at the social network is down 9 percentage points from 2017 in the US and 20 points for younger audiences
Hardware & electrical equipment
Snap bounces on short squeeze rally amid speculation it’s a potential takeover target
M&A speculation is boosting the stock forcing short sellers to run for cover
Pre-Market Movers: Twenty-First Century Fox, Comcast, Zillow and Snap
A look at what's piquing investor interest before the opening bell on Wall Street
Tesla slides amid analyst scorn after 'truly bizarre' conference call with CEO Elon Musk
Fears rise over electric car maker's enormous debt and cash burn rate
Snap shares hit all-time low as analysts slash targets on poor 1Q results
Analysts are slashing their price targets after the Snapchat parent posted witheringly poor 1Q results
Snapchat parent's shares plunge after missing 1Q profit and revenue estimates
The results throw shade on Snap's recent redesign efforts
Investments and investor services
Dow falls on broad pullback, but tech rally keeps Nasdaq positive
Generally speaking, it has been a good earnings season so far for US companies, but a couple of disappointing announcements have scared investors who are already a little twitchy
Snap Inc slashes 100 more jobs, sending shares tumbling
The job cuts follow dozens of positions being eliminated since the year's start
Facebook faces investigation into alleged data breach by Trump consulting firm
Facebook has banned Cambridge Analytica from its platform while it investigates the claims
Snap shares dip as Rihanna becomes latest celebrity to take a pop at the app
The global popstar took to Instagram to criticise Snapchat after it allowed an advert which appeared to make light of her famously abusive relationship with Chris Brown
Snap, Gilead Sciences, Walt Disney Co and more - AFTER HOURS
Proactive takes a look t what happened after the bell in New York
Snap shares gain as it reports quarterly growth in users and revenues
Snap's quarterly revenue and loss beat expectations
Snap strives to regain its mojo with redesign of Snapchat app
The company saw its base of daily active users rise by just 3% quarter-on-quarter in the third quarter
Snap reveals Tencent takes 12% stake as earnings disappoint
It comes after the former posted disappointing third quarter results last night after the bell.
Snap, LendingClub, Fossil Group and more - AFTER HOURS
Proactive takes a,look at what moved the dial last night. As expected Snap Inc was in focus
Switch IPO raises about US$531.3mln making it the third-biggest US technology listing this year
The data center group’s share offering was priced above the proposed US$14 to US$16 per share range, giving it an initial market value of as much as US$4.2bn
Hungryhouse owner Delivery Hero sees revenues surge in first half; aiming for break even next year
“We are committed to full profitability in ’19. We’ve proven in the past we can make profit very easily but we’re continuing to invest. For us it’s more of an input variable than an output variable.”
New Jefferies internet analyst Brent Thill downgrades Twitter rating to ‘hold’ in bumper sector review
Thill, who joined Jefferies in May having previously worked for UBS, believes that Twitter's users are engaging more with its platform but that the social media company is having difficulty translating that into revenue, and finding growth.
Home Depot, Coach, Snap, Advance Auto Parts
What's moving the dial in pre-market deals in New York? Proactive takes a look
SYSCO Corporation, VF Corp, Tempur Sealy, JD. Com Inc
Proactive takes a look at what's going on ahead of the bell in pre-market New York
Stocks just about hold on to gains
China has said it will stay neutral if North Korea strikes first in any dispute with the USA
Snap Inc cracks and goes pop - AFTER HOURS
Also featured: ; Nvidia Corporation, Nordstrom Inc, Camping World Holdngs Inc
Stocks fall for the third day in succession
The Dow has suffered a triple-digit fall in early dealings