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Tag: SNAP

  • Snap Stock Rallies After Hours On Strong Q3 Performance

    Snap Stock Rallies After Hours On Strong Q3 Performance

    Following the release of its financial results for the third quarter ending September 30, 2024, Snap Inc. (NYSE: SNAP) stock experienced a significant uptick on the US stock charts. Shares remained rising 10.56% in after-hours trading, reaching a price of $12.04. The market’s favorable opinion of the company’s operational developments and financial outcomes is reflected in this strong performance.

    Sturdy Financial Development and Strategic Plans

    Snap showed significant improvement in its financial performance, with 15% increase in revenues to generate $1.373 billion. Even though the business recorded a $153 million of net loss, this amount was better than in prior periods, suggesting increased operational efficiency.

    Snap’s strategic investments in augmented reality (AR) and artificial intelligence (AI) have been key to this achievement because they have increased engagement on its advertising platform and promoted creative, unique experiences, establishing the foundation for long-term, sustainable development.

    Announcement of the Stock Repurchase Program

    Snap’s board of directors has approved a stock repurchase program that permits the buying of up to $500 million of its Class A common shares in an effort to increase value for shareholders. In accordance with relevant securities laws, these repurchases may take place through privately negotiated agreements or open market transactions.

    By using the company’s strong balance sheet, the program seeks to lessen the dilution impacts that result from issuing restricted stock units as part of its employee compensation plan.

    Subscriber Growth and Advertising Innovations

    Snap is focused on accelerating revenue growth, with its subscription service, Snapchat+, reaching 12 million subscribers in Q3, more than doubling year-over-year. The company has also witnessed significant momentum in its direct response advertising products, resulting in more than double the total active advertisers compared to the previous year.

    To further enhance engagement, Snap is testing two new advertising formats, Sponsored Snaps and Promoted Places, aimed at enabling businesses to connect with Snapchat users in innovative ways. Additionally, the launch of First Lens Unlimited and State-specific First Story advertising options underscores Snap’s commitment to offering tailored solutions for advertisers.

  • Rising Tide: SNAP Inc.’s Shares Gain Ground Amid Favorable Financial News

    Rising Tide: SNAP Inc.’s Shares Gain Ground Amid Favorable Financial News

    Snap Inc. (NYSE: SNAP) is witnessing a remarkable surge in its shares on the US stock market during the current trading session, marking a notable increase of 26.62% to $14.44 as per the latest update. This upward momentum in SNAP stock followed unveiling of its promising financial outcomes.

    After close of the trading session yesterday, Snap Inc. (SNAP) disclosed its financial performance for the quarter ending on March 31, 2024. The value SNAP has delivered to its community and advertising partners has translated into enhanced financial results.

    The substantial, expanding, and elusive community, coupled with a brand-safe environment and comprehensive advertising solutions, have positioned SNAP as an increasingly crucial ally for businesses across various scales.

    Snap reported a 21% year-over-year surge in revenue, amounting to $1.195 billion, while the net loss also saw improvement, decreasing to $305 million from $329 million in the previous year. SNAP has experienced growth and deepened engagement with its community, evident in the Daily Active Users (DAUs) reaching 422 million in Q1 2024, marking an increase of 39 million, or 10%, year-over-year.

    The total time spent viewing Spotlight content surged by over 125% year-over-year. Notably, the expansion of the Snap Star program has significantly driven engagement in North America, with the total time spent viewing Stories from Snap Stars increasing by more than 55% year-over-year in the region.

    In Q1, the company onboarded over 1,500 Snap Stars, contributing to quarter-over-quarter growth in Story posts, Spotlight posts, and Stories time spent for Snap Stars worldwide. SNAP introduced novel tools aimed at empowering the community to craft more creative Snaps, including fresh Creative Templates, the capability to post lengthier videos, and access to AI-powered AR Lens creation.

    Moreover, SNAP continued to invest in its augmented reality platform, focusing on Generative AI models and automation for ML and AI Lens creation, resulting in a surge of more than 50% year-over-year in the number of ML and AI Lenses viewed by Snapchatters.

  • Snap Inc. Continues to Face the Pressure

    Snap Inc. (NASDAQ: SNAP) runs the popular Snapchat platform, which was a tech pioneer in its short video format social site. Its poor results in Q4 point to a worsening climate for social media companies driven by wider macro pressures.

    Snapchat Reports Slow Q4

    Yesterday, Snap Inc. (SNAP) came out with its fourth-quarter results, which brought its first-ever flat quarter year-on-year, with revenue remaining constant at $1.3 billion. What was most concerning, however, was its figure for revenue per customer, which fell 15% from $4.06 to $3.47 in 12 months. Margins too, took a hit because of the static topline figures, dropping from a figure of -2% to -20% over the year. Overall, SNAP saw its net income figure of $23 million in FY21Q4 fall to a loss of $288 million in its latest quarter. These dismal results come despite the fact that the number of daily active Snapchat users actually grew from 319 million to 375 million over the year.

    SNAP Bearing Burden of Tough Macro Climate

    Snapchat miseries are not isolated in the present climate, as top tech giants such as Meta, Google, and others have all seen their performance take a hit despite a growing number of users. A primary reason causing this is the cutback on marketing budgets which has seriously affected advertising revenue. In fact, Snapchat was among the first companies in the social media spaces to begin cost-cutting initiatives, which include staff downsizing and resource reallocation away from low-promise projects. Moreover, the company is also experimenting with different approaches such as its direct-response business, which could cause revenue to fall by as much as 10% but would ensure sustainable growth in the longer term.

    Conclusion

    SNAP stock is a prime example of a stellar tech name that is currently struggling against wider macro pressures. Its forward-looking changes could be a last-ditch effort to change the company’s direction.

  • Five Best Under 20 Dollar Stocks To Invest

    Which investor does not love a good bargain? Not everyone seeks stocks trading in the thousand-dollar brackets. For some, lower-priced stocks trading under 20 Dollars are ideal to accumulate in anticipation of growth. Stocks of this category are especially ideal for those that do not possess large amounts of cash and are looking to periodically up their stakes with modest savings over time. Through this, even those financially struggling can gain access to the world of stocks in anticipation of capital appreciation over time and dividend payments.

    $20 bills

    Present bearish market conditions have pushed quite a few once-pricey stocks to levels beneath the $20 mark. In cases of market overreaction, such stocks are ideal to buy, given the heavy discount at which they are presently trading. In light of these opportunities, we bring to you in this article, our list of top 5 stocks you can buy for under 20 Dollars.

    Algonquin Power and Utilities

    The first stock on our list is Algonquin Power and Utilities (NYSE: AQN). AQN is of the emerging names in the alternate energy industry, bound to go big as a result of the tailwinds supporting the clean energy transition. With a presence in North America, Chile, and Bermuda, the company sees substantial exposure within the western hemisphere.

    Given its positioning as a utility company, Algonquin has revenues that stand heavily regulated, making it a safe investment with predictable cashflows. Despite this safety against internal volatilities, AQN has still managed to grow its revenue in the first quarter of 2022, to $735 million, reflecting 16% year-on-year growth.

    Another aspect to AQN is its healthy dividend, yielding at over 5.3%, which is typically unheard of for a $14 stock. This feature makes it extremely attractive to investors looking to receive an income from their modest savings. Moreover, its management has committed to a 10% payment increase on an annual basis.

    AQN is a safe stock under 20 Dollars, yet one that holds tremendous upside potential. The markets it covers are substantial in the context of the broader clean energy transition. Buying and holding the stock, therefore, offers significant growth exposure, as well as a decent income in the meantime, which only rises with time.

    Harmonic Inc

    Number two on our list is Harmonic Inc (NASDAQ: HLIT). Harmonic provides software and products that offer solutions for video delivery. It also offers video processing appliances and network management tools.

    Given some strong secular tailwinds, as well as the company’s impressive performance in recent years, Harmonic is bound to climb high. As a result of the wider push towards digitization across the globe, and the need for more data, the upside potential in the IT realm in general remains substantially high.

    Harmonic, through innovation and dynamic flexibility, has strategically played its cards in recent years. Its expansion focused on the markets of Europe, the Middle East, and Africa, as well as in the Asia-Pacific, has delivered to its stellar financial performance, and a robust balance sheet. In just the most recent financial quarter, HLIT saw year-on-year revenue growth of almost 40%. This was in large part driven by the company’s expansion towards rural markets.

    Similarly, its operating margin has improved to 4%, which is a five-year high for the company, indicating its improvement in efficiency, as it continues to scale upwards

    What remains most impressive about HLIT is its ability to sustain much larger operational demand. This is due to its solid financial fundamentals, and robust balance sheet. This can only mean an even more impressive revenue growth trend, and enhanced profitability. In light of the direction the stock is taking, HLIT is bound to see a rise. Cashing in early on this $11 stock would be a prudent investment decision.

    Ford Motor Company

    The third stock under 20 dollars on our list is a renowned motor vehicle champion, Ford Motor Company (NYSE: F). Ford, being a name so popular in the motor world, surprisingly does not command the same level of hype amongst financial investors. This remains surprising, especially given its electrifying performance, even in comparison to some of its largest peers. For instance, in the second quarter of 2022, Ford Motor reported revenue growth of almost 60% on a year-on-year basis. In comparison, Tesla, which many call the growth king, saw its revenue for the same period rise by a mere 42%.

    Similarly, its earnings per share of $2.70, given a share price of over $16 is especially impressive, which puts the company on a number 1 industry ranking, based on the Quant standard. Ford’s PE ratio stands at 5.4, which is the lowest amongst auto-manufacturing stocks. In comparison, General Motors stands at a PE figure of 7.1, Honda Motor at 8.4, Ferrari NV at over 40, Toyota at 11, and Tesla at a staggering 110.

    On a comparative basis, therefore, Ford stands as the most undervalued car stock out there. The fact that such a renowned name is available for only under 20 Dollars indicates a substantial buying opportunity.

    Snap Inc

    The fourth stock we present is Snap Inc., (NYSE: SNAP). Snap is the owner of the once social media favorite camera-based application, Snapchat. Reports of the company’s declining revenue trend, coupled with bearish market conditions have resulted in its stock taking a heavy beating. SNAP is down by almost 90% in the last 12 months, in its plummet from $80 to a mere $12. Such investor panic is due likely to the wider macroeconomic headwinds that have taken down even giant stocks. Despite this, however, Snap’s user metrics remain solid, indicating that market overreaction may have played a role in its price fall. This, therefore, suggests an attractive entry point for those looking to buy the dip.

    The core investment motivator for Snap remains in the company’s innovation. With significant augmented reality tools in its application, the company stands well-suited to take off in the midst of the metaverse phenomenon. To add, the company has been investing heavily in enhancing and expanding its services within the Snapchat platform, owing to its strong financial position. Snap’s annual revenue for 2021 totaled $4.1 billion and is expected to stand at $4.6 billion and $5.4 billion for 2022 and 2023, respectively.

    Moreover, the company has publicly announced its commitment to a share repurchase program, worth $500 million. Given its future growth potential, following its overselling, this under-20 dollar stock presents a ripe opportunity for those looking to grab onto this rising trajectory and want to invest in best-value stocks for 2022.

    Robinhood Markets Inc

    The final stock under 20 dollars on our list is the financial services provider, Robinhood Markets Inc. (NASDAQ: HOOD). The stock is down almost 80% from $70 to a mere $8. However, in early August 2022, HOOD saw double-digit revenue growth, pushing its price up to almost $11. This was triggered by its better-than-expected earnings release for the second-quarter results of 2022. Revenue per user had seen a significant increase, whereas EBITDA loss had been impressively narrowed.

    Facing a declining trend of new users, the management was compelled to undertake a massive cost restructuring program, in order to push the company once again in the domain of financial sustainability. The improvement in performance figures indicates the success of this strategic approach. The company has committed to lowering its headcount by 23%, and its operational costs by almost 30%.

    Robinhood further stands capable of driving all the necessary changes to restructure to ensure growth and profitability. At present, its cash balance stands at $6 billion, which is equivalent to nearly 70% of the company’s market capitalization. This not only allows the company to remain safeguarded against short-term losses but is also a major point of attraction for value investors.

    As Robinhood continues to chip away at inefficiencies and streamline itself on the basis of its user trends, the company’s profit-earning capability sees further enhancement. Sticking to this path, it is highly likely for HOOD to top the $20 mark among best-value stocks for 2022.

    Conclusion

    The world of investment offers a wide range of options to choose from. From penny stocks less than a dollar to those trading at thousands of dollars. Often enough though, the investor seeks an affordable stock that is not prone to heavy volatility. Under 20 Dollar Stocks are ideal for this purpose. They are affordable and can be gradually staked up with savings over time. Each of the stocks presented in this article offers exposure to some phenomenal growth trajectories and money makers to those looking to make an entry into the world of investing.

  • What Does Snap Inc. (SNAP)’s Monumentous Fall Warrant for it’s Future?

    Fitting the word exactly in both impact and the event itself, Snap Inc. (SNAP) had a “monumentous” fall from grace. The stock drowned others along with itself when a filing from the company revealed its concerns over the recently provided 2022 outlook. While the outlook was already below the expectations, the filing said that the company now thinks the upcoming results to fall at the lower end of the guidance. The concerning news not only led the stock to a record tumble but also impacted many others in the social media and online advertising sectors. Joining SNAP in the downtrend were giants like Alphabet, Meta, Twitter, and many others. The company’s dreadful outlook caused the social media stocks to shed over $135 billion in market value in just one day (Tuesday).

    The profit warning also highlighted concerns for the broader advertising market as the social media company’s woes signal a larger slowdown. Hence, it has sparked a debate over the future of the online-ad market, as the economic and geopolitical instability has many cutting down on marketing/advertising to reserve capital. Many concerning questions are being raised now regarding the larger outlook of the industry that once boomed in the peak pandemic days.

    But given the wider macroeconomic and geopolitical situation, what does it mean for the industry and the stock itself? Let’s have a look at the factors at play.

    SNAP Stock

    Down nearly 73% in just 2022, SNAP has lost roughly 79% in the past twelve months. Following the dreary events, the stock closed trading at $12.79 a share yesterday, well below its IPO price of $17 per share in 2017. A decline of over 43% in the session caused it to register its new 52-week low of $12.55.

    However, in the pre-market today, the stock is trading in the green as hopeful investors buy the dip. At the time of writing, the stock was valued at $12.94 a share with a slight uptick of just 1.17%.

    The Profit Warning

    In a regulatory filing late on Monday, the social media company warned that the prevailing uncertainty has spiked beyond expectations. According to the company, the macroeconomic environment’s deterioration has happened at a much faster pace than expected since it provided the recent guidance. Thus, the panic-filled situation has the company rein in both its revenue and profit guidance for the second quarter of 2022.

    It was only near the end of April that the company issued its Q2, 2022 guidance with revenue growth of 20%-25% YOY. The guidance had the adjusted EBITDA estimated to break even and at $50 million for the quarter. But the growing concerns regarding the wider instability have the company now aiming the outlook at the lower end of the guidance. However, the company said that it remains optimistic about SNAP’s long-term growth with solid ARPU improvement.

    The Broader Situation

    The macroeconomic environment is becoming more and more unstable as the war on Ukraine continues. Factors like rising inflation, spiking interest rates, supply chain hurdles, labor disruptions, and even policy changes in the said industry are also proving detrimental. While social media and online-ads platforms benefitted hugely from the pandemic, the opening of economies and the wider instability are impacting it severely. Moreover, disruptions in the digital ad market, like privacy policy changes by Apple, have proved challenging as well.

    Since inflation is now at an all-time high in roughly 40 years, companies are struggling with increased costs and reduced profits. This has forced many to cut down on their advertising and marketing spending to help reserve capital. Furthermore, many have suspended all their marketing and media activities in Russia and Ukraine due to the war.

    So, what’s the Takeaway?

    While the numerous threats and added woes to the social media and online-ads market are raising questions over its once largely bullish outlook, the long-term expectations remain the same. The headwinds appear to be only for the short term and the market is expected to continue booming as the world now largely depends on the digitalized form of everything. Social media and online advertising are the new norms and the prior means of marketing are becoming obsolete.

    To cope with the economic disruptions, SNAP is working tirelessly and continues to invest despite the unstable environment. The company has been launching several new augmented reality products and services, along with controlling costs. It is trying to shift from just being a social media platform and diversifying its revenue streams. The company also said in a recent presentation that it plans to shrink hiring and reduce expenses in the near term while improving productivity.

    Conclusion

    Following the recent profit warning, many experts did cut back on their price target for SNAP. However, the stock still maintains a “hold” rating and even “buy” from some. Given the long-term bullish outlook of the industry and the company, the current beaten-down price does present a good buying opportunity.

  • Snap Inc. (SNAP) stock’s Bearishness Escalates After Hours Following Market News

    While Snap Inc. (SNAP) was already in a downtrend, its bearishness escalated in the after-hours on Wednesday. This downfall can be attributed to the fall of the social media giant Facebook’s parent Meta Platforms Inc. on weak earnings and outlook.

    On February 02, 2022, SNAP had a value of $32.07 at the close of the regular session. During regular trading, the stock lost 4.72% at 41.65 million shares. The stock nosedived in the after-hours to lose 16.93% at $26.64 per share. Hence, SNAP lost a further $5.43 at an after-hours volume of 8.93 million on Wednesday.

    The camera platform, Snap Inc.’s 1.36 billion outstanding shares trade at a market capitalization of $54.19 billion.

    What’s going on?

    SNAP is expected to announce its Q4 and fiscal 2021 results on Thursday, February 3, 2022, at 5:00 pm ET. Just a day before the company’s earnings, the industry giant Meta Platforms Inc. released its Q4 and fiscal 2021 financials. Facebook reported unimpressive growth in earnings and further expects milk growth in Q1 and fiscal 2022. The reason for this is the current sensation TikTok. More and more people are spending excessive time on the video app TikTok. Thus, making other social media platforms and apps suffer. With the bleak growth of Facebook and hit from its competition, SNAP’s investors seem disappointed in the stock itself.

    Investors expect the stock’s growth to take a hit from TikTok as well, given that both share video making. The market situation suggests low growth for SNAP, causing the stock to dwindle but only the earnings themselves will reveal the truth.

    SNAP’s CEO’s Latest Comments

    On February 02, Wall Street Reporter published the latest comments from SNAP’s CEO, Evan Spiegel. Mr. Spiegel remarked on the opportunities for augmented reality for the company. According to him, over 200 million people already engage with augmented reality on daily basis on Snapchat. Presently, the company is working with its clothing and beauty product partners for the expansion of its AR shopping experience.

    Moreover, Mr. Spiegel reported the growth of the company’s DAUs to 306 million. Thus, marking a growth of 20% YOY for the fourth consecutive quarter.

    SNAP’s Q3 Overview

    The company had a net loss of $72 million on revenue of $1,067 million in the third quarter of 2021. This marks an improvement of 57% and 64% year over year in revenue and net loss, respectively.

  • Here is why Snap Inc. (SNAP) stock surged in the after-hours on Thursday?

    Snap Inc. (SNAP) shares gained 17.68% in after-hours on Thursday, July 22, 2021, and closed at $74.10 per share. Earlier in the morning session, SNAP’s stock lost 0.66% to close Thursday’s session at $62.97. SNAP shares have risen 171.42% over the last 12 months, and they have moved up 4.08% in the past week. Over the past three months, the stock has gained 10.38%, while over the past six months, it has lost 15.75%.

    Let’s have a look at its recent news and developments.

    Recent financial results announcement

    On July 22, 2021, Snap Inc reported its financial results for the second quarter ended June 30, 2021.

    Q2 2021 financial highlights

    • Snap Inc reported a revenue of $982 million in Q2 2021 compared to $454 million in Q2 2020.
    • The total cost and expenses were $1.17 billion in Q1 2021 compared to $765 million in Q2 2020.
    • The company suffered a net loss of $152 million or diluted net loss per share of $0.10in Q2 2021, compared to$326 million or diluted net loss per share of $0.23in Q2 2020.
    • Adjusted EBITDA was $117 million in Q2 2021, compared to $95.6 million in Q2 2020.
    • Operating cash flow was $101 million in Q2 2021, compared to $67 million in Q2 2020.
    • Free Cash Flow was $116 million in Q2 2021, compared to $82 million in Q2 2020.

    The financial outlook for Q3 2021

    For Q3 2021, the company is expecting

    • Revenue to be in the range of 1,070 million and $1,085 million.
    • Adjusted EBITDA to be between $100 million and $120 million.

    Verishop on Snapchat Minis

    On July 20, 2021, Verishopbecame the latest fashion source to explore Snapchat Minis, an offering from the social video app that brings snack-size, third-party app features to the platform.

    Verishopaims to expand its reach with a shopping model designed for Snapchatters and introduced 11features ranging from movie tickets to voter registration. 

    Snapchat app broken on IOS devices

    On June 28, 2021, Snapchat faced some unexpected glitches on IOS devices and it stopped working on iPhone according to several reports from the users.

    The problem started after the latest version of Snapchat was installed automatically on iPhone and it simply crashed rather than opening the app after the update.

    The problems appear to be with the update numbered 11.34.0.35, which was distributed through the App Store over the weekend.

    Universal Music Group global licensing deal with Snap

    On June 24, 2021, Universal Music Group and Snap signed a multi-year global agreement that will allow Snapchat’s users to incorporate UMG’s catalogue of recorded music and content into creative tools, including Sounds on Snapchat and augmented reality Lenses.

    According to the deal, UMG’s entire recorded music catalogue is available on a global basis in Snapchat’s Sounds tool, including search and curated playlists.

    Conclusion

    The recent financial results were the reason behind its gains in the after-hours on Thursday and it can close the weekly trading by continuing its surge on Friday as well.

  • Early Morning Vibes: Top 4 Stocks To Buy Right Now

    Early Morning Vibes: Top 4 Stocks To Buy Right Now

    Futures for major US stock indices rose on Thursday in anticipation of labor market statistics and a new portion of corporate reporting, according to trading data.

    Futures on the Dow Jones Industrial Average (DJIA) grew by 0.1%, to 30.660 points, on the NASDAQ high-tech index – by 0.41%, to 13449 points, on the broad market S&P 500 index – by 0.16%, up to 3829.88 points.

    Investors are watching for signs that the US economic recovery will continue, despite the large number of cases of infection with coronavirus and new strains of it, against which existing vaccinations may be less effective, which is fraught with new restrictive measures.

    In this light, the market is interested in the statistics of the initial jobless claims, which will be published later on Thursday. Analysts expect a decrease in this number by 17 thousand last week compared to the previous one, to 830 thousand applications.

    In addition, traders are waiting for a new portion of corporate reporting in the United States. For example, investment company Carlyle Group, pharmaceutical Bristol-Myers Squibb and tobacco Philip Morris International should disclose their financials for the past quarter before the opening of trading, and the automaker Ford Motor and Snap, which owns the social networking app Snapchat, are planning to publish a profit report and losses after their closure.

    Today Top Movers

    Bilibili Inc (BILI) share price jumped 11.14% to $150.25 during the early morning ‎trading session on ‎Thursday.‎ As of Q3 2020, Bilibili reported that its total number of monthly active users increased 54% year-over-year to 197.2 million. And the total paying users increased 89% to 15 million.‎

    Cassava Sciences Inc (SAVA) gained over 42.00% at $124.89 in pre-market ‎trading on Thursday.‎ The firm recently declared results of an interim analysis from an open-label study of simufilam, its lead drug candidate for the treatment of Alzheimer’s disease. ‎

    Onconova Therapeutics Inc (ONTX) grew over 6.70% at $0.90 in pre-market trading ‎today. Recently ONTX being granted a European patent for “The Treatment Of Hematological Cancer Refractory To An Anti-Cancer Agent.” 

    DraftKings Inc (DKNG) stock moved up 1.01 percent to $60.72 in the pre-market ‎trading.‎

    Top Upgrades & Downgrades

    Roth Capital turned bullish on Ocugen Inc. (OCGN), upgrading the stock to “Buy” and assigning a $1.0 price target, representing a potential upside of 60.14% from Wednesday’s close. 

    STERIS plc (STE) has won the favor of KeyBanc’s equity research team. The firm upgraded the shares from Sector Weight to Overweight and moved their price target to $224.0, suggesting a 22.45% additional upside for the stock. 

    FireEye Inc. (FEYE) received an upgrade from analysts at BofA, who also set their one-year price target on the stock to $27. They changed their rating on FEYE to Buy from Neutral in a recently issued research note. 

    Earlier Thursday HC Wainwright & Co. reduced its rating on GW Pharmaceuticals plc (GWPH) stock to Neutral from Buy and assigned the price target to $220.0. With shares trading at around $211.37, the Wall Street firm thinks GW Pharmaceuticals plc’s stock could add than 4.08%. 

    KeyBanc analysts reduced their investment ratings, saying in research reports covered by the media that it’s rating for Murphy Oil Corporation (MUR) has been changed to Sector Weight from Overweight. 

    Analysts at Oddo BHF downgraded GlaxoSmithKline plc (GSK)’s stock to Neutral from Buy Thursday.

    Latest Insider Activity

    Apple Inc. (AAPL) Director LEVINSON ARTHUR D announced the sale of shares taking place on Feb 02 at $135.60 for some 3,416 shares. The total came to more than $0.46 million. 

    Koss Corporation (KOSS) VP – Marketing & Product Koss Michael J Jr sold on Feb 02 a total 46,000 shares at $25.98 on average. The insider’s sale generated proceeds of almost $0.36 million. 

    MannKind Corporation (MNKD) Chief Executive Officer Castagna Michael declared the purchase of shares taking place on Jan 31 at $1.33 for some 5,000 shares. The transaction amount was around $6650. 

    Texas Instruments Incorporated (TXN) Director Craighead Martin S bought on Jan 28 a total 21,388 shares at $166.91 on average. The purchase cost the insider an estimated $997,294.

    Important Earnings

    Top US earnings releases scheduled for today include Nokia Corporation (NYSE: NOK). It will announce its Dec 2020 financial results. The company is expected to report earnings of $0.13 per share from revenues of $7.43B in the three-month period. 

    Analysts expect Ford Motor Company (NYSE: F) to report a net income (adjusted) of -$0.07 per share when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $33.89B. 

    Snap Inc. (SNAP), due to announce earnings after the market closes today, is expected to report earnings of $0.07 per share from revenues of $857.39M recently concluded three-month period.

  • Early Morning Vibes: 4 Stocks We Like for Thursday

    Early Morning Vibes: 4 Stocks We Like for Thursday

    On January 20, American stock markets closed at new all-time highs. The S&P 500 index rose 1.39% to 3852 points, the NASDAQ rose 1.97%, the Dow Jones added 0.83%. Risk appetite has increased on the back of an improving epidemiological situation in the States, positive expectations from the reporting season, and partly due to the official inauguration of President Joseph Biden. The communications sector was a growth engine for the broader market, surging 3.6% on a strong quarterly report from Netflix.

    Company news

    • Streaming giant Netflix (NFLX: + 16.9%) performed better than expected and management announced that it is considering resuming its share buyback program.
    • Bank of New York Mellon (BK: -7.3%) showed mixed results. Operating expenses were above expectations.
    • Procter & Gamble’s (PG: -1.3%) earnings and earnings exceeded expectations, but the stock still declined on investor concerns about the sustainability of the results.

    Today, global stock exchanges are showing positive dynamics. The first decrees of President Biden only indirectly relate to the economy, so they practically do not affect the stock market. Investor optimism is driven by factors that have been in sight for a long time. Among them are soft monetary policy, prospects for the adoption of a new package of fiscal stimuli, acceleration of the vaccination process.

    Yesterday in the United States, a record number of deaths per day was recorded – 4409. Amazon has offered vaccine assistance to the US government, which has boosted investor confidence in boosting the vaccine campaign. In addition, the first studies point to the effectiveness of the Pfizer vaccine against the British strain of coronavirus.

    The first quarterly reports of S&P 500 companies exceed investor expectations. Currently, the forecast assumes an average EPS decline of 5.9%, while just a week ago, EPS was forecast to fall by 8.8%. Market participants are just beginning to put optimistic expectations in the quotes in relation to reporting, so the upside potential of the S&P 500 remains.

    Economic News

    Noteworthy is the weekly publication of data on the number of initial applications for unemployment benefits (forecast: 910 thousand, previous value: 965 thousand). The unexpected rise in the indicator last week has raised concerns. If this time the market participants get an unpleasant surprise again, then the official report on the labor market for January will be weak.

    Sentiment Index

    The Freedom Finance Sentiment Index climbed to 62 out of 100. The indicator reflects market participants’ hope for a global economic recovery in 2021. Worries about the negative impact of the coronavirus pandemic are starting to wane thanks to the prospect of mass vaccinations.

    Technical picture

    Technically, the S&P 500 is prone to an upward movement. On the eve of the broad market index confidently overcame the historical maximum at 3827 points and continued to move to the upper border of the equidistant channel at 3860 points. Indicators indicate the likelihood of the trend continuation. The nearest resistance is the psychologically significant level of 3900 points.

    Today Top Movers

    ‎Jaguar Health Inc (JAGX), a biotechnology company, surged about 30.48% ‎at $3.81 in pre-market ‎trading Thursday following the declaration of closing of $6.0 million issuance and sale of designation-backed note related to possible tropical disease priority review voucher.‎

    ‎Qutoutiao Inc (QTT) share price soared 39.41% to $3.75 during the early morning ‎trading session on ‎Thursday.‎‎

    ‎InspireMD Inc (NSPR) stock ascended 15.48% at $0.81 in the pre-‎market trading today.‎‎

    ‎BIOLASE Inc (BIOL) gained over 12.14% at $1.08 in pre-market ‎trading on Thursday.‎‎

    Top Upgrades & Downgrades

    BTIG turned bullish on PayPal Holdings Inc. (PYPL), upgrading the stock to “Buy”.

    Diebold Nixdorf Incorporated (DBD) has won the favor of JP Morgan’s equity research team. The firm upgraded the shares from Neutral to Overweight and moved their price target to $16.0, suggesting 43.04% additional upside for the stock.

    Synaptics Incorporated (SYNA) received an upgrade from analysts at JP Morgan, who also set their one-year price target on the stock to $110. They changed their rating on SYNA to Neutral from Underweight in a recently issued research note.

    Earlier Thursday BTIG reduced its rating on Senseonics Holdings Inc. (SENS) stock to Neutral from Buy.

    JP Morgan analysts reduced their investment ratings, saying in research reports covered by the media that it’s rating for Maxar Technologies Inc. (MAXR) has been changed to Neutral from Overweight and the new price target is set at $55.

    Analysts at Berenberg downgraded Citigroup Inc. (C)’s stock to Hold from Buy Thursday.

    Latest Insider Activity

    Virgin Galactic Holdings Inc. (SPCE) CFO, Treasurer Campagna Jonathan Joseph announced the sale of shares taking place on Jan 19 at $31.44 for some 56,305 shares. The total came to more than $1.77 million. 

    Snap Inc. (SNAP) Chief Financial Officer Andersen Derek sold on Jan 19 a total of 1,254,458 shares at $50.43 on average. The insider’s sale generated proceeds of almost $0.44 million. 

    Affirm Holdings Inc. (AFRM) 10% Owner Founders Fund V Management, LL declared the purchase of shares taking place on Jan 15 at $49.00 for some 75,000 shares. The transaction amount was around $3.67 million. 

    Adverum Biotechnologies Inc. (ADVM) Director Machado Patrick bought on Jan 15 a total 78,182 shares at $11.52 on average. The purchase cost the insider an estimated $115,174.

    Important Earnings

    Top US earnings releases scheduled for today include FuelCell Energy Inc. (NASDAQ: FCEL). It will announce its Oct 2020 financial results. The company is expected to report earnings of -$0.04 per share from revenues of $17.05M in the three-month period. 

    Analysts expect Baker Hughes Company (NYSE: BKR) to report a net income (adjusted) of $0.17 per share when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $5.42B. 

    Intel Corporation (INTC), due to announce earnings after the market closes today, is expected to report earnings of $1.1 per share from revenues of $17.5B recently concluded three-month period.

  • Early Morning Vibes: 3 Growth Stocks To Invest In Right Now

    Early Morning Vibes: 3 Growth Stocks To Invest In Right Now

    US stock indices hit new highs on Thursday. Investors are delighted with signs of progress in agreeing on a new program of state aid to the economy. These stimulus measures should support the economy during a potential slowdown in growth during the winter season.
     

    As a result of trading, the S & P 500 rose 21.31 points, or 0.6%, to 3722.48 points. The Dow Jones Industrial Average rose 148.83 points, or 0.5%, to 30303.37 points. The Nasdaq Composite rose 106.56 points, or 0.8%, to 12,764.75 points.
     

    Economic Update
     

    Congress leaders on Wednesday moved closer to agreeing on a roughly $ 900 billion bailout program that would include another round of direct payments to households. The congressmen could not come to a compromise for several months. The fact that they are close to an agreement should cheer Americans up during the difficult period of the pandemic: although the vaccine has begun to spread in the US, hospital admissions remain at a record.
     

    Most investors are confident that the economy needs a new stimulus program to hold out until the end of winter. Mass vaccinations should help limit the spread of the virus in 2021. The increase in the number of infections affected consumer confidence and retail sales. In addition, some states have introduced new restrictions on the operation of companies.
     

    US labor market data today showed that the economy is facing obstacles. Initial claims for unemployment benefits in the United States for the week through December 12 rose by 23,000 to 885,000, while economists expected a slight decline in the indicator.
     

    Corporate Update
     

    Lennar shares gained 7.6%. The developer said that construction orders and construction completed in the 1st quarter are likely to exceed analysts’ expectations.

    Shares of Rite Aid is up 17%. Accenture rose 6.9%.
     

    The yield on the 10-year US Treasury bond rose to 0.929% from 0.920% on Wednesday. The dollar continued to decline. The WSJ dollar index fell 0.3%. On Wednesday, it dropped to its lowest level since April 2018.
     

    The downturn was triggered, among other things, by the Federal Reserve’s announcement that $ 120 billion in monthly asset purchases will continue until tangible progress is made towards targeted employment and inflation.

    Today Top Movers


    Cyclo Therapeutics Inc (CYTH) share price going up 86.29% at $8.83 in today’s premarket trading session after Analysts update its ranking to Buy.
     

    Costco Wholesale Corp (COST) share price is up 0.06% at $370.5 in premarket trading on Friday. After the news of company spending millions of dollars on the Employee apprecitions.
     

    Skillz Inc (SKLZ) is soaring 2.07%, with the share price of $23.2 in early morning on Friday after the company becomes first publicly-traded mobile esports platform.
     

    Casper Sleep Inc. (CSPR) trading at $6.49, with the gain of 0.16% in Friday’s premarket session surged on no major update.

    Top Upgrades & Downgrades


    Keefe Bruyette turned bullish on Redwood Trust, Inc. (RWT), upgrading the stock to “Outperform” and assigning a $9.50 price target.
     

    Annaly Capital Management, Inc.(NYSE: NLY) has won the favor of Keefe Bruyette’s equity research team. The firm upgraded the shares from Market Perform to Outperform and moved their price target to $9.
     

    New Residential Investment Corp (NYSE: NRZ) received an upgrade from analysts at Keefe Bruyette, who also set their one-year price target on the stock to $10.50. They changed their rating on NRZ to Outperform from Market Perform in a recently issued research note.
     

    Earlier Friday Stifel reduced its rating on DENTSPLY SIRONA Inc (XRAY) stock to Hold from Buy and assigned the price target to $52.
     

    Credit Suisse analysts reduced their investment ratings, saying in research reports covered by the media that its rating for AEGON N.V. (AEG) has been changed to Neutral from Outperform.
     

    Analysts at Credit Suisse downgraded Palantir Technologies Inc (PLTR)’s stock to Underperform from Neutral on Friday.

    Latest Insider Activity


    Snap Inc. (SNAP) Chief Financial Officer Andersen Derek announced the sale of shares taking place on Dec 16 at $51.44 for some 33,164 shares. The total came to more than $1.71 million.
     

    Coeur Mining Inc. (CDE) SVP & General Counsel Nault Casey M. sold on Dec 16 a total 329,291 shares at $10.02 on average. The insider’s sale generated proceeds of almost $0.5 million.
     

    9 Meters Biopharma Inc. (NMTR) Director Sirgo Mark A declared the purchase of shares taking place on Dec 15 at $0.65 for some 230,769 shares. The transaction amount was around $0.15 million.
     

    Lexicon Pharmaceuticals Inc. (LXRX) Director Artal International S.C.A. bought on Dec 16 a total 32,259,461 shares at $3.20 on average. The purchase cost the insider an estimated $35.0 million.

    Earnings To Watch


    Top US earnings releases scheduled for today include MINISO Group Holding Limited (NYSE:MNSO). It will announce its Sep 2020 financial results. The company is expected to report earnings of $0.03 per share from revenues of $291.99M in the three-month period.
     

    Analysts expect TuanChe Limited (NASDAQ:TC) to report a net income (adjusted) of -$0.24 per share, when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Sep 2020 is predicted to come in at $12.79M.
     

    NIKE Inc. (NKE), due to announce earnings after the market closes today, is expected to report earnings of $0.62 per share from revenues of $10.56B recently concluded three-month period.