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On today’s episode of the Zacks Friday Finish Line, Content Writer Ryan McQueeney and Editor Maddy Johnson take on this week’s biggest stories, including what will go down as one of the biggest market events in years: the massive Snap Inc. IPO.
The hosts started this week’s show with a look at the latest earnings news from Target (TGT - Free Report) . On Tuesday, the discount retailer posted disappointing fourth-quarter results, sending the stock tumbling more than 13%. Despite strong e-commerce growth, Target struggled thanks to weak comps and increased challenges from competitors. Nevertheless, the company looks set to double down on its pricing war against Wal-Mart (WMT - Free Report) .
Next, Ryan and Maddy took a look at Donald Trump’s first official address to Congress on Tuesday night. The president continued his campaign rhetoric of American investment and tax reform, applauding companies like Ford (F - Free Report) , Fiat-Chrysler , and Lockheed Martin (LMT - Free Report) for creating new jobs in the country. Interestingly enough, the biggest mover in the wake of the speech was Harley-Davidson (HOG - Free Report) .
The hosts moved on to discuss the latest announcement from Alphabet Inc. (GOOGL - Free Report) . The tech giant is poised to make a serious splash in the television market with its new YouTube TV package. For just $35 a month, YouTube TV subscribers will have access to original programming, cable networks like ESPN and ABC, unlimited cloud-based DVR, and artificial intelligence-powered search features.
Finally, the hosts covered the massive IPO of Snap Inc. (SNAP), the parent company of picture messaging app Snapchat. Snap Inc. priced its new stock at $17 per share, above the expected range of $14 to $16 per share, valuing the company at $24 billion. This also makes it the largest tech IPO since Alibaba (BABA - Free Report) back in 2014.
Once the stock finally opened on Thursday, share prices soared more than 40% and eventually closed at about $24.50. With its new valuation of about $30 billion, Snap Inc. has plenty of questions to answer. What will be the focus of the company going forward? Is the brand already overvalued?
As a reminder, if you feel that we missed something, or if you want us to cover a different story, shoot us an email at podcast@zacks.com. Make sure to check out all of our other audio content at zacks.com/podcast, and remember to subscribe and leave us a rating on iTunes.
As always, thanks for listening to this special edition of the Zacks Friday Finish Line, and check back for even more news from the investment and financial world!
Everything You Need to Know About Snapchat’s IPO Now
You may be curious about the buzz surrounding Snap Inc.'s IPO, but should you snap up this tech stock? In the 2017 IPO Watch List, you'll get an inside look at Snap's exciting prospects and potential challenges.
You'll also learn about 4 other exciting tech companies with jaw-dropping growth. Each could go public in the coming months. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the latest scoop. Download this IPO Watch List today for free >>
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Target Earnings, YouTube TV, and Can Snapchat Justify Its $30 Billion Valuation?
On today’s episode of the Zacks Friday Finish Line, Content Writer Ryan McQueeney and Editor Maddy Johnson take on this week’s biggest stories, including what will go down as one of the biggest market events in years: the massive Snap Inc. IPO.
The hosts started this week’s show with a look at the latest earnings news from Target (TGT - Free Report) . On Tuesday, the discount retailer posted disappointing fourth-quarter results, sending the stock tumbling more than 13%. Despite strong e-commerce growth, Target struggled thanks to weak comps and increased challenges from competitors. Nevertheless, the company looks set to double down on its pricing war against Wal-Mart (WMT - Free Report) .
Find out more here: Here's Why Target Stock Plummeted After Earnings
Next, Ryan and Maddy took a look at Donald Trump’s first official address to Congress on Tuesday night. The president continued his campaign rhetoric of American investment and tax reform, applauding companies like Ford (F - Free Report) , Fiat-Chrysler , and Lockheed Martin (LMT - Free Report) for creating new jobs in the country. Interestingly enough, the biggest mover in the wake of the speech was Harley-Davidson (HOG - Free Report) .
Check out what Trump had to say about the motorcycle giant: Trump Bump: Which Companies Were in Focus During the President's Speech to Congress?
The hosts moved on to discuss the latest announcement from Alphabet Inc. (GOOGL - Free Report) . The tech giant is poised to make a serious splash in the television market with its new YouTube TV package. For just $35 a month, YouTube TV subscribers will have access to original programming, cable networks like ESPN and ABC, unlimited cloud-based DVR, and artificial intelligence-powered search features.
Read more on this story and YouTube’s latest viewership numbers here: YouTube Tops 1 Billion Hours a Day: Can It Pass TV?
Finally, the hosts covered the massive IPO of Snap Inc. (SNAP), the parent company of picture messaging app Snapchat. Snap Inc. priced its new stock at $17 per share, above the expected range of $14 to $16 per share, valuing the company at $24 billion. This also makes it the largest tech IPO since Alibaba (BABA - Free Report) back in 2014.
Once the stock finally opened on Thursday, share prices soared more than 40% and eventually closed at about $24.50. With its new valuation of about $30 billion, Snap Inc. has plenty of questions to answer. What will be the focus of the company going forward? Is the brand already overvalued?
Find out more here: Snapchat's $24 Billion IPO Arrives, The Biggest Tech Debut Since Alibaba
As a reminder, if you feel that we missed something, or if you want us to cover a different story, shoot us an email at podcast@zacks.com. Make sure to check out all of our other audio content at zacks.com/podcast, and remember to subscribe and leave us a rating on iTunes.
As always, thanks for listening to this special edition of the Zacks Friday Finish Line, and check back for even more news from the investment and financial world!
Everything You Need to Know About Snapchat’s IPO Now
You may be curious about the buzz surrounding Snap Inc.'s IPO, but should you snap up this tech stock? In the 2017 IPO Watch List, you'll get an inside look at Snap's exciting prospects and potential challenges.
You'll also learn about 4 other exciting tech companies with jaw-dropping growth. Each could go public in the coming months. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the latest scoop. Download this IPO Watch List today for free >>