Nasdaq News

Miles traveled on highways during March were back to 1985 levels. The driving figures varies by state, and that can be a proxy for where people are adhering most closely to guidelines.

Image source: The Motley Fool.

After another great quarter with strong revenue despite the COVID-19 pandemic, Nike (NYSE: NKE) is moving forward with reopening stores in China, ramping up digital options, and bringing new designs to market. Next week, it's releasing its latest athletic shoe, the Air Zoom Pega

What happened During the market's tumult over the last two months, tech stocks have been a refuge for investors. The tech-heavy Nasdaq has handily outperformed the S&P 500 and the Dow Jones Industrial Average, and investors have generally believed that the tech industry

(RTTNews) - 3M (MMM) Tuesday filed a lawsuit in Canada over deceptive N95 online retail sales and price gouging.

In afternoon trading on Tuesday, Utilities stocks are the best performing sector, losing just 2.0%. Within that group, Ameren Corp (Symbol: AEE) and NiSource Inc. (Symbol: NI) are two of the day's stand-outs, with AEE showing a gain of 0.5% and NI down 0.3%. Among utilities

In afternoon trading on Tuesday, Financial stocks are the worst performing sector, showing a 3.2% loss. Within that group, Northern Trust Corp (Symbol: NTRS) and Citigroup Inc (Symbol: C) are two large stocks that are lagging, showing a loss of 6.5% and 6.4%, respectively. A

Image source: The Motley Fool.

Oil prices plunged to negative $40 per barrel on Monday in what is becoming a perfect storm for oil markets. Demand for oil is down, storage is filling up, and traders are trying to unload the paper oil they own before they have to take delivery of actual oil. 

In this interview, Adam Sarhan, host of the SmartMoneyCircle podcast, interviews Jay Gragnani, Head of Research & Client Engagement for Nasdaq Dorsey Wright.

Markets are driven by the law of supply and demand.

What happened Shares of Boeing (NYSE: BA) fell more than 5% on Tuesday as investors continue to try to calculate how much damage the COVID-19 pandemic will do to commercial aircraft order books. Boeing's commercial arm accounts for two-thirds of total revenue, and the company is

What happened Shares of TripAdvisor (NASDAQ: TRIP) have fallen today, down by 5% as of 12:50 p.m. EDT, after several Wall Street analysts cut their price targets on the stock. The COVID-19 pandemic continues to hurt all travel-related companies.

What happened Shares of several big-name department-store companies were trading lower on Tuesday afternoon after Reuters reported that upscale chain Lord & Taylor has joined the list of those considering a bankruptcy filing.

Activist investor ValueAct Capital Partners LP has built a stake of over $1.1 billion in Nintendo, according to a letter seen by Reuters, a bet that digital software distribution and the development of new entertainment products will fuel growth at the Japanese consumer electronics company.

A familiar narrative has attached itself to social media platforms during the COVID-19 pandemic. Although most have seen strong engagement figures, current wisdom dictates these platforms should expect a decline in revenue this year, as ad spending – how these platforms make dollar – is reduced due to the contracting economy. However, Wells Fargo’s Brian Fitzgerald believes Snap (SNAP) is better positioned than others to cushion the blows.

“While we do not expect SNAP to be immune from COVID-19 impacts on ad budgets,” said the 5-star analyst, “we believe they may be better insulated vs. platform peers due to SNAP’s strong direct response momentum and more limited SMB/international exposure.”

Snap will release its quarterly statement today after market close, and Fitzgerald estimates the company will report quarterly revenue of $425 million and EPS of $0.21 (Street calls for $431 million and $0.19). Looking ahead, despite expecting the year-over-year ad market to drop between 30% and 40% in 2Q, the analyst believes Snap will withstand the headwinds and exhibit revenue growth to keep it in “positive territory over the course of 2020.”

The bold assertion in the current climate is based on key factors from Q1, which Fitzgerald believes are “positives heading into the quarter.”

The first factor, as expected, Snapchat usage has increased since the onset of COVID-19. Compared to data collated before the viral outbreak, snaps are up by 44%, while snap texts have increased by 50%. Moreover, compared to late February, by late March, voice and video calling also increased by 50%.

As a result, Fitzgerald points out that “SNAP has seen a 36% increase in install volume for app ads, and a 19% increase in swipe-up rate in late March vs. late Feb.” These are the sort of figures likely to attract more advertisers to the platform.

In addition to record levels of engagement for Snap Games during the quarter, the company also hired Hulu’s ex-head of ad sales Peter Naylor to become Americas VP.

“We note the addition of Naylor should be a positive for SNAP’s advertising business and increase ad revenue through premium/commercial ad sales,” Fitzgerald noted.

To this end, Fitzgerald reiterated an Overweight on Snap, along with a $14 price target, which implies an upside of 11%. (To watch Fitzgerald’s track record, click here)

So, there’s the Wells Fargo view. Turning now to the rest of the Street; Based on 20 Buy ratings and 11 Holds, Snap has a Moderate Buy consensus rating. The average price target is $16.85 and implies upside of 33%. (See SNAP stock analysis on TipRanks)

To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

(RTTNews) - The Switzerland stock market ended sharply lower on Tuesday, in line with the trend witnessed across Europe, after a warning from the World Health Organization chief that the coronavirus is likely to cause greater damage than earlier thought.

Social Capital Hedosophia Holdings III, the third blank check company formed by Social Capital and Hedosophia targeting a non-US tech business, is expected to price on Tuesday, April 21, 2020. The Palo Alto, CA-based company plans to raise $600 million by offering 60 million unit

Consumer stocks were mostly lower, with the SPDR Consumer Staples Select Sector ETF slipping 2.2% this afternoon while the SPDR Consumer Discretionary Select Sector ETF was losing 2.8% in value.

Technology stocks were falling in afternoon trading, with the SPDR Technology Select Sector ETF Tuesday declining 4.0% while the Philadelphia Semiconductor Index was slipping 4.1%.