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Snap's First "Buy" Rating, Tuesday's Market Selloff, & Could Pinterest IPO Soon?
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(1:20) – Snap’s First “Buy” Rating
(6:00) – Nike’s Earnings Report
(9:55) – Tuesday’s Big Selloff
(14:15) – Pinterest IPO Potential
On today’s episode of the Zacks Friday Finish Line, Editor Maddy Johnson is joined by Zacks Stock Strategist Tracey Ryniec, and together, they take on this week’s biggest stories: understated tech unicorn Pinterest’s potential IPO.
But first, Maddy and Tracey discussed Snap Inc.’s (SNAP - Free Report) first two ‘Buy’ ratings. The social media company received bullish views from analysts at Monness and Drexel Hamilton. James Cakmak and Brian White based their views on the company’s decscision to brand itself as a camera company and its incredible popularity among millennials, respectively.
Then, the hosts moved on to Nike’s (NKE - Free Report) third-quarter financial results, where earnings topped estimates for the 19th straight quarter but revenues fell short, dragging the sports retailer’s stock down as a result. Even though its top and bottom line improved year-over-year, increased competition from the likes of Adidas (ADDYY - Free Report) and Under Armour (UAA - Free Report) has greatly affected Nike’s status as number one, and will keep doing so going forward.
Get the full scoop here: Nike (NKE - Free Report) Beats on Q4 Earnings; Weak Revenues Hurt Stock
Next up, Maddy and Tracey dove into Tuesday’s major market sell-off, or “The Worst Trading Day of 2017 So Far.” Investors were anxiously awaiting the key healthcare reform vote on March 23, though that vote was eventually postponed until today.
On Tuesday, the S&P 500, the Dow Jones, and the Nasdaq closed down all over 1%, and the worst performing sectors were financials and materials. Within those sectors, Bank of America (BAC - Free Report) , U.S. Steel (X - Free Report) , and AK Steel were some of the biggest losers.
Finally, Maddy and Tracey covered a potential tech unicorn’s initial public offering: Pinterest. Pinterest is a website and mobile app that gives its users the tools to discover, share, collect, and store items, pages, and websites to “pinboards” they create.
According to Recode, Pinterest is targeting over $500 million in revenue this year, and sources close to the company believe they are on the path to an IPO. While Pinterest management denies these reports, they have a working valuation of $11 billion and have raised more than $1 billion so far in venture funding. Could Pinterest be the next big tech IPO?
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!
5 Trades Could Profit "Big-League" from Trump Policies
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Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>
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Snap's First "Buy" Rating, Tuesday's Market Selloff, & Could Pinterest IPO Soon?
On today’s episode of the Zacks Friday Finish Line, Editor Maddy Johnson is joined by Zacks Stock Strategist Tracey Ryniec, and together, they take on this week’s biggest stories: understated tech unicorn Pinterest’s potential IPO.
But first, Maddy and Tracey discussed Snap Inc.’s (SNAP - Free Report) first two ‘Buy’ ratings. The social media company received bullish views from analysts at Monness and Drexel Hamilton. James Cakmak and Brian White based their views on the company’s decscision to brand itself as a camera company and its incredible popularity among millennials, respectively.
Read more here: Does Snap Deserve Its First “Buy” Rating?and This is Why Snap Stock is Popping Today
Then, the hosts moved on to Nike’s (NKE - Free Report) third-quarter financial results, where earnings topped estimates for the 19th straight quarter but revenues fell short, dragging the sports retailer’s stock down as a result. Even though its top and bottom line improved year-over-year, increased competition from the likes of Adidas (ADDYY - Free Report) and Under Armour (UAA - Free Report) has greatly affected Nike’s status as number one, and will keep doing so going forward.
Get the full scoop here: Nike (NKE - Free Report) Beats on Q4 Earnings; Weak Revenues Hurt Stock
Next up, Maddy and Tracey dove into Tuesday’s major market sell-off, or “The Worst Trading Day of 2017 So Far.” Investors were anxiously awaiting the key healthcare reform vote on March 23, though that vote was eventually postponed until today.
On Tuesday, the S&P 500, the Dow Jones, and the Nasdaq closed down all over 1%, and the worst performing sectors were financials and materials. Within those sectors, Bank of America (BAC - Free Report) , U.S. Steel (X - Free Report) , and AK Steel were some of the biggest losers.
Find out more here: These Sectors Got Crushed in Worst Trading Day of 2017 and Obamacare Repeal Vote Looms: What Investors Need to Know
Finally, Maddy and Tracey covered a potential tech unicorn’s initial public offering: Pinterest. Pinterest is a website and mobile app that gives its users the tools to discover, share, collect, and store items, pages, and websites to “pinboards” they create.
According to Recode, Pinterest is targeting over $500 million in revenue this year, and sources close to the company believe they are on the path to an IPO. While Pinterest management denies these reports, they have a working valuation of $11 billion and have raised more than $1 billion so far in venture funding. Could Pinterest be the next big tech IPO?
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!
5 Trades Could Profit "Big-League" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>