Facebook jumps as Stories users and ads show promising growth

The company exceeded revenue expectations and matched estimates for its daily active user growth. The company said it counts 2.7 billion monthly users across the its family of apps, which is unchanged compared to last quarter. Facebook saw its user base in Europe grow to 286 million daily active users, up from 282 million last quarter. The FTC has been probing Facebook since March 2018 following reports that political consulting firm Cambridge Analytica had improperly access the data of 87 milli


The company exceeded revenue expectations and matched estimates for its daily active user growth. The company said it counts 2.7 billion monthly users across the its family of apps, which is unchanged compared to last quarter. Facebook saw its user base in Europe grow to 286 million daily active users, up from 282 million last quarter. The FTC has been probing Facebook since March 2018 following reports that political consulting firm Cambridge Analytica had improperly access the data of 87 milli
Facebook jumps as Stories users and ads show promising growth Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: salvador rodriguez, niall carson, pa images, getty images
Keywords: news, cnbc, companies, promising, billion, user, vs, forecast, jumps, company, active, growth, facebook, ads, users, million, revenue


Facebook jumps as Stories users and ads show promising growth

Facebook beat on top and bottom—Here’s what three experts are watching now 1 Hour Ago | 02:59

Facebook stock rose as much as 9% in after-hours trading despite the company announcing that it could take a one-time charge of as much $5 billion due to an ongoing Federal Trade Commission inquiry.

The company exceeded revenue expectations and matched estimates for its daily active user growth. Here’s what Facebook reported:

Earnings: 85 cents per share

85 cents per share Revenue: $15.08 billion, vs. $14.98 billion, forecast by Refinitiv

$15.08 billion, vs. $14.98 billion, forecast by Refinitiv Daily active users: 1.56 billion, vs. 1.56 billion forecast by FactSet

1.56 billion, vs. 1.56 billion forecast by FactSet Monthly active users: 2.38 billion, vs. 2.37 billion forecast by FactSet

2.38 billion, vs. 2.37 billion forecast by FactSet Average revenue per user: $6.42, vs. $6.39 forecast by FactSet

The company’s earnings per share analyst expectations are not comparable due to the anticipated FTC charge.

The company said it counts 2.7 billion monthly users across the its family of apps, which is unchanged compared to last quarter. Facebook saw its user base in Europe grow to 286 million daily active users, up from 282 million last quarter. The company’s user base in the U.S. and Canada remained flat quarter-to-quarter at 186 million. The company said average revenue per user was $6.42, up 16% from $5.53 a year ago.

The FTC has been probing Facebook since March 2018 following reports that political consulting firm Cambridge Analytica had improperly access the data of 87 million Facebook users. To date, the FTC’s biggest fine against a tech company was in 2012 when Google agreed to pay a $22.5 million penalty due to its privacy practices.

“We estimate that the range of loss in this matter is $3.0 billion to $5.0 billion,” Facebook said in a statement. “The matter remains unresolved, and there can be no assurance as to the timing or the terms of any final outcome.”


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: salvador rodriguez, niall carson, pa images, getty images
Keywords: news, cnbc, companies, promising, billion, user, vs, forecast, jumps, company, active, growth, facebook, ads, users, million, revenue


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Stocks making the biggest moves after hours: Facebook, Microsoft, Tesla and more

Microsoft shares jumped more than 3% after hours Wednesday after the company posted better-than-expected third-quarter earnings. Shares of Tesla seesawed after market close Wednesday based on disappointing first-quarter earnings. Chipotle shares were volatile in extended trading Wednesday following the release of the restaurant company’s first-quarter earnings. PayPal shares dropped as much as 2% after hours Wednesday after releasing the online payments company’s first-quarter earnings. Earnings


Microsoft shares jumped more than 3% after hours Wednesday after the company posted better-than-expected third-quarter earnings. Shares of Tesla seesawed after market close Wednesday based on disappointing first-quarter earnings. Chipotle shares were volatile in extended trading Wednesday following the release of the restaurant company’s first-quarter earnings. PayPal shares dropped as much as 2% after hours Wednesday after releasing the online payments company’s first-quarter earnings. Earnings
Stocks making the biggest moves after hours: Facebook, Microsoft, Tesla and more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: maggie fitzgerald, niall carson, pa images, getty images
Keywords: news, cnbc, companies, stocks, hours, share, billion, cents, making, microsoft, analysts, firstquarter, company, revenue, moves, facebook, refinitiv, estimates, earnings, biggest, tesla


Stocks making the biggest moves after hours: Facebook, Microsoft, Tesla and more

Facebook beat on top and bottom—Here’s what three experts are watching now 1 Hour Ago | 02:59

Check out the companies making headlines after the bell:

Shares of Facebook popped more than 7% in extended trading Wednesday following the release of the social media giant’s first-quarter earnings. Facebook reported earnings per share of 85 cents, which was not comparable to analysts’ estimates due to a $3 billion legal expense related to a Federal Trade Commission inquiry into Facebook’s privacy policies.

Revenue came in at $15.08 billion, topping Wall Street’s $14.98 billion forecast, according to Refinitiv. Daily active users increased 8% year over year to total 1.56 billion. Average revenue per user was $6.42, beating estimates of $6.39.

Microsoft shares jumped more than 3% after hours Wednesday after the company posted better-than-expected third-quarter earnings. The second largest company by market valuation, behind Apple, earned $30.57 billion in revenue during the period. That tops estimates of $29.84 billion, according to analysts surveyed by Refinitiv. Earnings per share were $1.14, higher than the $1.00 expected by analysts.

Shares of Tesla seesawed after market close Wednesday based on disappointing first-quarter earnings. Elon Musk’s automaker reported a loss of $2.90 on revenue of $4.54 billion. Analysts expected a loss of 69 cents on revenue of $5.19 billion per Refinitiv.

Chipotle shares were volatile in extended trading Wednesday following the release of the restaurant company’s first-quarter earnings. Chipotle posted revenue of $1.31 billion, beating estimates of $1.26 billion. Earnings per share were $3.40, compared to the $3.01 forecast on the Street.

Chipotle’s same store sales grew 9.9%, topping estimates of 7.3%.

PayPal shares dropped as much as 2% after hours Wednesday after releasing the online payments company’s first-quarter earnings. The Venmo parent company earned $4.13 billion in revenue, in line with estimates. Earnings per share came in at 78 cents, beating expectations by 10 cents, according to analysts surveyed by Refinitiv. PayPal’s total payment volume was $161 billion, while Venmo’s was $21 billion.

The company revealed that Venmo’s payment platform has 40 million users, the first time it has shared this metric.

Shares of Visa dipped 1% after market close Wednesday despite posting better-than-expected earnings. For the first quarter Visa earned $5.49 billion in revenue, slightly higher the expected $5.47 billion. Earnings per share were $1.31, higher than analysts’ estimates of $1.24. Visa’s stock is up more than 22% year to date.

Shares of Xilinx plummeted more than 11% in extended trading Wednesday despite better-than-expected fourth-quarter earnings. The semiconductor company reported earnings in line with estimates at 94 cents per share. Revenue was $828 million, lower than the expected $825 million, according to Refinitiv. Xilinx’s stock is up about 64% year to date.

Xilinx also announced they are acquiring networking technology company Solarflare.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: maggie fitzgerald, niall carson, pa images, getty images
Keywords: news, cnbc, companies, stocks, hours, share, billion, cents, making, microsoft, analysts, firstquarter, company, revenue, moves, facebook, refinitiv, estimates, earnings, biggest, tesla


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Venmo has 40 million users, PayPal reveals for first time

Popular payment app Venmo has ushered in 40 million users to the platform, its parent company PayPal announced on Wednesday. In its first-quarter earnings report, PayPal said it now has a total 277 million total customer accounts — including 22 million merchant accounts. Total payment volume for Venmo grew 73% year over year to $21 billion in the first quarter, the company said. PayPal said Venmo is still on pace to do $100 billion in payment volume this year. Venmo was originally bought by Brai


Popular payment app Venmo has ushered in 40 million users to the platform, its parent company PayPal announced on Wednesday. In its first-quarter earnings report, PayPal said it now has a total 277 million total customer accounts — including 22 million merchant accounts. Total payment volume for Venmo grew 73% year over year to $21 billion in the first quarter, the company said. PayPal said Venmo is still on pace to do $100 billion in payment volume this year. Venmo was originally bought by Brai
Venmo has 40 million users, PayPal reveals for first time Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: kate rooney, cnbc, getty images
Keywords: news, cnbc, companies, payment, app, billion, 40, paypal, company, reveals, earnings, venmo, users, way, million, revenue


Venmo has 40 million users, PayPal reveals for first time

Popular payment app Venmo has ushered in 40 million users to the platform, its parent company PayPal announced on Wednesday.

This is the first time PayPal has disclosed user numbers for the millennial-focused, peer-to-peer app.

In its first-quarter earnings report, PayPal said it now has a total 277 million total customer accounts — including 22 million merchant accounts. Total payment volume for Venmo grew 73% year over year to $21 billion in the first quarter, the company said. PayPal said Venmo is still on pace to do $100 billion in payment volume this year.

“Venmo continues its significant momentum,” PayPal CEO Dan Schulman said on a call with analysts. “As user growth continues to accelerate, merchants are increasingly turning to Venmo as a way to attract a valuable and engaged consumer base.”

Rival Square, run by Twitter CEO Jack Dorsey, reported 15 million monthly active users for its Cash App as of December.

Venmo has announced partnerships with Chipotle, GrubHub and Uber, among other merchants. These partnerships are a key way the app brings in revenue. Schulman said Venmo is on pace to do $300 million in revenue this year.

The finance app also operates like a social network. It lets users comment on payments and see what friends are spending on. Venmo was originally bought by BrainTree for $26 million, and BrainTree was later bought by PayPal.

PayPal reported better-than-expected first-quarter earnings after the market close Wednesday. The company reported adjusted earnings of 78 cents per share, compared with the 68 cents forecast by Refinitiv consensus estimates. Revenue for the quarter was in line with Wall Street’s $4.13 billion estimates.

Total payment volume — a closely watched metric for the company — came in at $161 billion, a 25% increase year over year. This was below the $163 billion that analysts polled by FactSet had been expecting. Shares of PayPal fell as much as 2% in after-hours trading before paring losses.

Venmo has yet to become a money-maker for its parent company. PayPal has not given an exact target date for profitability.

“We’re certainly pleased with the monetization of Venmo and the rate at which that is progressing ,” PayPal Chief Operating Officer Bill Ready said on the company’s earnings call.

Ready highlighted instant transfers and Venmo’s debit card as bright spots in revenue growth. He also addressed a recent Wall Street Journal report that the company was looking to launch a Venmo-branded credit card.

“We have certainly seen great demand across our user base for more and more products from Venmo, and we are engaging with the banking system in a very broad way across PayPal and Venmo,” Ready said. “To be very clear, there is nothing beyond Venmo debit card that we are looking at at this time.”


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: kate rooney, cnbc, getty images
Keywords: news, cnbc, companies, payment, app, billion, 40, paypal, company, reveals, earnings, venmo, users, way, million, revenue


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Buy Texas Instruments before the company gives the ‘all clear:’ Cramer

Don’t wait for the “all clear” on semiconductor sales to make a bet on Texas Instruments, CNBC’s Jim Cramer said Wednesday. “The executives at Texas Instruments aren’t trying to help you time the semiconductor cycle,” the “Mad Money” host said. On the Tuesday earnings call, Texas Instruments reported its second consecutive quarter of declining sales. Tracking and trading Texas Instruments’ stock outside of that cycle helped Cramer pay his share of rent one summer in the 1980s as he studied for t


Don’t wait for the “all clear” on semiconductor sales to make a bet on Texas Instruments, CNBC’s Jim Cramer said Wednesday. “The executives at Texas Instruments aren’t trying to help you time the semiconductor cycle,” the “Mad Money” host said. On the Tuesday earnings call, Texas Instruments reported its second consecutive quarter of declining sales. Tracking and trading Texas Instruments’ stock outside of that cycle helped Cramer pay his share of rent one summer in the 1980s as he studied for t
Buy Texas Instruments before the company gives the ‘all clear:’ Cramer Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: tyler clifford
Keywords: news, cnbc, companies, stock, sales, reached, instruments, qualcomm, clear, cramer, cycle, buy, gives, company, semiconductor, texas, apple


Buy Texas Instruments before the company gives the 'all clear:' Cramer

Don’t wait for the “all clear” on semiconductor sales to make a bet on Texas Instruments, CNBC’s Jim Cramer said Wednesday.

The semiconductor manufacturer has posted slowing chip sales in recent quarters, and said Tuesday it does not expect demand for chips to improve in 2019. Meanwhile, its shares reached a 52-week high during the session after beating earnings estimates by 13 cents in the last quarter.

“The executives at Texas Instruments aren’t trying to help you time the semiconductor cycle,” the “Mad Money” host said. “They’re just trying to run the business, and that’s a very different thing.”

When an investor waits until he or she gets the green light to pull the trigger, the easy money will have already been made by the time it comes.

Instead, the wise move would be to do some homework and get ahead on the stock while the share price is less expensive.

But it won’t be necessary for the company to confirm that the slowdown has ended, Cramer said. On the Tuesday earnings call, Texas Instruments reported its second consecutive quarter of declining sales. The host said the chip cycle typically lasts as many as five quarters before turning around.

Tracking and trading Texas Instruments’ stock outside of that cycle helped Cramer pay his share of rent one summer in the 1980s as he studied for the New York bar exam.

Following Texas Instruments’ conference call, the stock rose $6 before giving up those gains and more after CFO Rafael Lizardi did not give that “all clear,” Cramer said. He said that was a moment to buy call options on Texas Instruments, and he still thinks the stock is a steal at its closing price above $118 per share.

“If you wait for the cycle to actually turn, you will be way too late,” he said. “Yet, lots of people were desperate for verification from management so they dumped the stock when they didn’t get it. That’s a huge mistake.”

“Oh, and talk about the need to be ahead: Lam Research told you last quarter a bottom could be in hand for semiconductor equipment. It crushed the numbers tonight,” he added.

Cramer said the same logic applied to Apple. The stock was sitting at about $140 in early January when the iPhone maker was laboring to transform itself into a subscription services business and its now-settled royalties dispute with Qualcomm was heating up.

Shares of Apple closed north of $207 on Wednesday after making steady gains throughout the year. A large chunk of the increase came before it reached an agreement with Qualcomm more than a week ago.

Cramer said investors had to be willing to take a chance and buy Apple before the deal was made in order to reap the profits, especially because Apple did not have a 5G plan without Qualcomm’s chips.

“When the two companies reached a settlement last week, [Qualcomm stock] exploded higher — it’s still going higher — but Apple’s stock also rallied about 7 bucks,” he said. “Now, if you had waited until after the settlement, you missed some incredible moves. The big money was made before you got the all clear.”

The same principle applies to recent runs in Disney, Chipotle, and Home Depot, Cramer said.

Shares of Texas Instrument closed Wednesday at $118.43, up more than 25% from the start of the year.

“The early bird gets the worm, people,” Cramer said. “And, in this case, the early bird is the one who knows you need to buy a stock before the underlying business turns around, while the other birds are still cowering in their nests waiting for the call that will always leave them late for dinner.”

Disclosure: Cramer’s charitable trust owns shares of Apple, Walt Disney, Home Depot, and Lam Research.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: tyler clifford
Keywords: news, cnbc, companies, stock, sales, reached, instruments, qualcomm, clear, cramer, cycle, buy, gives, company, semiconductor, texas, apple


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Salesforce nearly doubled its money in Zoom IPO, but company says it’s in for the long term

Salesforce invested $100 million in Zoom’s IPO, and it’s paying off quickly, almost doubling in value in just three trading days. It’s the result of an unconventional investing approach for Salesforce Ventures. With Zoom, the company is working to enable live video for Salesforce’s sales and service representatives and is integrating Salesforce’s Einstein artificial intelligence technology to transcribe Zoom video meetings for participants, said John Somorjai, the head of Salesforce Ventures. Zo


Salesforce invested $100 million in Zoom’s IPO, and it’s paying off quickly, almost doubling in value in just three trading days. It’s the result of an unconventional investing approach for Salesforce Ventures. With Zoom, the company is working to enable live video for Salesforce’s sales and service representatives and is integrating Salesforce’s Einstein artificial intelligence technology to transcribe Zoom video meetings for participants, said John Somorjai, the head of Salesforce Ventures. Zo
Salesforce nearly doubled its money in Zoom IPO, but company says it’s in for the long term Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: ari levy, kena betancur, getty images
Keywords: news, cnbc, companies, ventures, long, doubled, zoom, video, somorjai, salesforces, million, surveymonkey, money, term, salesforce, venture, company, ipo, nearly, dropbox


Salesforce nearly doubled its money in Zoom IPO, but company says it's in for the long term

Salesforce invested $100 million in Zoom’s IPO, and it’s paying off quickly, almost doubling in value in just three trading days.

It’s the result of an unconventional investing approach for Salesforce Ventures. Like other corporate venture arms, Salesforce typically backs earlier-stage companies, but since early last year the venture group has been buying shares in select IPOs, like Dropbox and SurveyMonkey, hoping to benefit from the expected pop and to forge a tighter bond with emerging cloud software companies.

With Zoom, the company is working to enable live video for Salesforce’s sales and service representatives and is integrating Salesforce’s Einstein artificial intelligence technology to transcribe Zoom video meetings for participants, said John Somorjai, the head of Salesforce Ventures.

“It was a very basic integration and now will be much deeper,” Somorjai said in an interview this week. “There are a lot of ways we can bring these products together.”

Shares of Zoom rocketed 72% in their debut on Thursday and have continued to trade higher, closing on Tuesday at $69, valuing Salesforce’s stake at about $192 million. But while Salesforce Ventures invested alongside traditional public market buyers, the company agreed to the same 180-day lockup period as insiders and even signed a so-called standoff agreement with Zoom not to sell the shares for up to a year, according to the prospectus.

“Our goal is to be long-term investors,” said Somorjai, who is also Salesforce’s executive vice president of corporate development.

Zoom is the third cloud software stock Salesforce has bought in an IPO, following Dropbox in March 2018 and SurveyMonkey in September. Both of those produced less dramatic returns. Salesforce’s $100 million investment in Dropbox is now worth $111 million, and its $40 million initial stake in SurveyMonkey is valued at $58.5 million as of Tuesday’s close.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: ari levy, kena betancur, getty images
Keywords: news, cnbc, companies, ventures, long, doubled, zoom, video, somorjai, salesforces, million, surveymonkey, money, term, salesforce, venture, company, ipo, nearly, dropbox


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Chipotle earnings top estimates as digital sales double, boosts same-store sales outlook

Chipotle Mexican Grill on Wednesday reported earnings and revenue that beat analysts’ expectations after doubling its digital sales during the quarter. Notably, digital sales rose 100.7% during the quarter, accounting for 15.7% of total sales. Executives would not disclose what percent of digital sales are delivery orders. The loyalty program is just one part of Chipotle’s strategy to build digital engagement. The reported same-store sales number includes a 0.30% negative impact in anticipation


Chipotle Mexican Grill on Wednesday reported earnings and revenue that beat analysts’ expectations after doubling its digital sales during the quarter. Notably, digital sales rose 100.7% during the quarter, accounting for 15.7% of total sales. Executives would not disclose what percent of digital sales are delivery orders. The loyalty program is just one part of Chipotle’s strategy to build digital engagement. The reported same-store sales number includes a 0.30% negative impact in anticipation
Chipotle earnings top estimates as digital sales double, boosts same-store sales outlook Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: amelia lucas, courtesy of taco bell
Keywords: news, cnbc, companies, boosts, chipotle, share, sales, program, outlook, double, customers, reported, digital, company, samestore, delivery, estimates, earnings, loyalty


Chipotle earnings top estimates as digital sales double, boosts same-store sales outlook

Chipotle Mexican Grill on Wednesday reported earnings and revenue that beat analysts’ expectations after doubling its digital sales during the quarter.

After the markets closed, shares of the company initially surged 4% but have since lost those gains.

“The on-going improvement in each of our key operating metrics over the past few quarters gives us confidence that our mission to win today and cultivate the future, is resonating,” CEO Brian Niccol said in a statement.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

Earnings per share: $3.40, adjusted, vs. $3.01 expected

Revenue: $1.31 billion vs. $1.27 billion expected

Same-store sales growth: 9.9% vs. 7.29%

Chipotle reported fiscal first-quarter net income of $88.1 million, or $3.13 per share, up from $59.4 million, or $2.13 per share a year earlier.

Excluding expenses related to restaurant asset impairment, corporate restructuring and other costs, the Mexican food chain earned $3.40 per share, topping the $3.01 per share expected by analysts surveyed by Refinitiv. Price hikes at the end of 2018 helped lower food, beverage and packaging costs but were partially offset by more demand for steak.

Net sales rose 13.9% to $1.31 billion, beating expectations of $1.27 billion.

Notably, digital sales rose 100.7% during the quarter, accounting for 15.7% of total sales. Executives would not disclose what percent of digital sales are delivery orders.

In March, Chipotle launched its points-based loyalty program nationwide. Less than a week later, the company surpassed its one millionth member, who scored a year’s worth of Chipotle. The program has already helped mobile app downloads soar, according to a Barclays note. The company plans to use consumer data to better target loyalty program members.

During the company’s earnings conference call, Niccol said the rewards program has grown to 3 million members.

The loyalty program is just one part of Chipotle’s strategy to build digital engagement. The company has a partnership with third-party delivery service DoorDash. At the end of 2018 and in the first week of 2019, Chipotle offered free delivery to promote the partnership. Niccol told investors that nearly half of the free delivery burrito bowls were new or lapsed customers. Even after the promotion ended, Chipotle saw increased customer retention.

Whereas some restaurants have seen third-party delivery services’ hefty commission fees offset the benefits of delivery, executives said that delivery actually helped raise its operating margin to 21% this quarter.

It has also been investing in changes to its restaurants to make delivery and digital pick-up easier for customers, like pick-up shelves and drive-through windows called Chipotlanes.

Same-store sales grew by 9.9%, driven by a 5.8% increase in restaurant transactions. This is the fifth consecutive quarter that Chipotle has seen same-stores growth. The reported same-store sales number includes a 0.30% negative impact in anticipation of customers redeeming loyalty program rewards.

The company raised its same-store sales outlook for 2019. It is now forecasting mid-to-high single-digit sales growth at stores open at least a year. It previously said that it was expected mid-single digit growth.

The company opened 15 stores and closed 2 locations during the quarter, bringing its total restaurant count to 2,504. Chipotle reiterated its forecast of opening between 140 to 155 stores during 2019.

Second-quarter food costs are expected to rise 1% because of avocados. The chain is known for charging extra for its guacamole, but that won’t shield it from rising avocado prices that began to hit the company in late March. Hartung said that Chipotle is forecasting higher prices due to higher demand from retailers and lower supply from California growers.

Investors have been optimistic about the chain under Niccol’s leadership. When he was head of Taco Bell, he was known for developing innovative products. At the end of March, the company’s stock price hit $700 per share for the first time since 2015, when a multistate E. coli outbreak linked to Chipotle sent shares plunging. The stock is up more than 64% so far in 2019.

“They are on a pathway back, but I think one of the key [reasons] has been the marketing and pushing more the dollars towards the national marketing versus local marketing,” BTIG analyst Peter Saleh said on CNBC’s “Closing Bell.”

In 2018, Chipotle launched a national advertising campaign “For Real,” which focuses on its ingredients. Two months ago, it released “Behind the Foil,” documentary-style ads that show how the chain prepares its ingredients before they land in a customer’s burrito.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: amelia lucas, courtesy of taco bell
Keywords: news, cnbc, companies, boosts, chipotle, share, sales, program, outlook, double, customers, reported, digital, company, samestore, delivery, estimates, earnings, loyalty


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Stocks making the biggest moves midday: AT&T, Domino’s Pizza, eBay & more

Check out the companies making headlines midday Wednesday:Domino’s Pizza — Shares of Domino’s Pizza surged 8.9% on stronger-than-forecast quarterly earnings. The company reported earnings of $2.20, 11 cents higher than a Refinitiv estimate. The company also reported first-quarter earnings that were in line with expectations. AT&T — Shares of AT&T fell 4% after the company missed Wall Street estimates for first-quarter revenue due to the weaker-than-expected sales in its WarnerMedia unit. Biogen


Check out the companies making headlines midday Wednesday:Domino’s Pizza — Shares of Domino’s Pizza surged 8.9% on stronger-than-forecast quarterly earnings. The company reported earnings of $2.20, 11 cents higher than a Refinitiv estimate. The company also reported first-quarter earnings that were in line with expectations. AT&T — Shares of AT&T fell 4% after the company missed Wall Street estimates for first-quarter revenue due to the weaker-than-expected sales in its WarnerMedia unit. Biogen
Stocks making the biggest moves midday: AT&T, Domino’s Pizza, eBay & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: fred imbert, jason alden, bloomberg, getty images
Keywords: news, cnbc, companies, share, shares, revenue, ebay, dominos, stock, sales, pizza, making, moves, att, midday, company, reported, stocks, biggest, rose, earnings, firstquarter


Stocks making the biggest moves midday: AT&T, Domino's Pizza, eBay & more

Check out the companies making headlines midday Wednesday:

Domino’s Pizza — Shares of Domino’s Pizza surged 8.9% on stronger-than-forecast quarterly earnings. The company reported earnings of $2.20, 11 cents higher than a Refinitiv estimate.

Anadarko Petroleum — The energy company’s stock jumped 12% after Occidental Petroleum announced a bid of $76 a share for Anadarko, topping an earlier offer from Chevron. Occidental’s bid values Anadarko at $57 billion.

Caterpillar — The industrial giant’s stock fell 2.5% after CFO Andrew Bonfield told Bloomberg News the company’s China sales are being impeded by aggressive price competition. Bonfield’s comments overshadowed earnings that topped analyst expectations.

Boeing — Boeing shares rose 0.9% despite the aircraft manufacturer announcing it is pausing share buybacks and withdrawing its full-year guidance, noting its troubles with the 737 Max aircraft. Boeing’s stock had been struggling after two of its 737 Max jets crashed within 5 months. The company also reported first-quarter earnings that were in line with expectations.

Texas Instruments — Texas Instruments rose 2% after posting better than expected first-quarter earnings and revenue. The company reported quarterly profit of $1.26 on revenue of $3.59 billion. Analysts polled by Refinitv expected a profit of $1.13 per share on sales of $3.48 billion. However, Texas Instruments warned that slowdown of microchip demand may persist in upcoming quarters.

AT&T — Shares of AT&T fell 4% after the company missed Wall Street estimates for first-quarter revenue due to the weaker-than-expected sales in its WarnerMedia unit. AT&T also reported a surprise increase in wireless customers, and said it would pay off 75% of the debt incurred in its Time Warner deal by the end of the year.

Biogen — Biogen’s stock dipped nearly 2% after the biotech company halted the trial for its Alzheimer’s drug last month, which shocked investors as the drug was expected to be a blockbuster. The news overshadowed stronger-than-expected first-quarter earnings. Biogen reported earnings of $6.98 per share for the first quarter, beating a Refinitiv estimate of $6.87 per share.

Best Buy — Best Buy gained more than 2% after Jefferies upgraded the stock to buy from hold, calling the electronics retailer “a new big blue.” The bank is bullish on Best Buy’s push into services including tech support and in-home advice program.

EBay — Shares of eBay rose more than 4% after the online auction site reported better-than-expected quarterly earnings. EBay posted adjusted earnings of 67 cents per share, topping a Refinitiv estimate of 63 cents. Transaction revenue hit $2.11 billion, more than a FactSet estimate of $2.01 billion.

—CNBC’s Nadine El-Bawab , Yun Li and Matt Lavietes contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: fred imbert, jason alden, bloomberg, getty images
Keywords: news, cnbc, companies, share, shares, revenue, ebay, dominos, stock, sales, pizza, making, moves, att, midday, company, reported, stocks, biggest, rose, earnings, firstquarter


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Tesla should be valued at less than $100 a share, investor says

Tesla heads into its earnings report out after the bell Wednesday trading at its lowest level in six months. There is no company that’s better at overpromising and under-delivering than Tesla,” said Mark Tepper, founder and president of Strategic Wealth Partners, on CNBC’s “Trading Nation” on Tuesday. Tesla has not traded below $100 since mid-2013. Following earnings, Katie Stockton, founder of Fairlead Strategies, said the company needs to hold one key level to prevent it from tumbling. “There’


Tesla heads into its earnings report out after the bell Wednesday trading at its lowest level in six months. There is no company that’s better at overpromising and under-delivering than Tesla,” said Mark Tepper, founder and president of Strategic Wealth Partners, on CNBC’s “Trading Nation” on Tuesday. Tesla has not traded below $100 since mid-2013. Following earnings, Katie Stockton, founder of Fairlead Strategies, said the company needs to hold one key level to prevent it from tumbling. “There’
Tesla should be valued at less than $100 a share, investor says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: keris lahiff, mark ralston, afp, getty images, kevin frayer, lindsey wasson, david becker, getty images news, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, share, need, 100, level, stock, stockton, tesla, hold, company, thats, valued, trading, support, investor


Tesla should be valued at less than $100 a share, investor says

Tesla heads into its earnings report out after the bell Wednesday trading at its lowest level in six months.

One strategist said it should get even worse for the electric car maker.

“This is a company that has a cult following – people that believe that [Elon Musk] is changing the world – and that’s the only reason this stock is trading at $260. There is no company that’s better at overpromising and under-delivering than Tesla,” said Mark Tepper, founder and president of Strategic Wealth Partners, on CNBC’s “Trading Nation” on Tuesday.

Tepper said its true valuation should be even lower.

“If I were to believe Tesla’s stories, with a 35% projected earnings growth rate, even at a PEG [price/earnings to growth] ratio that’s at a premium to the market, you still can’t value the stock at over $100 a share and $100 is on the very high end,” he said.

Tesla has not traded below $100 since mid-2013. It would need to drop 62% to reach that level.

A storm of headwinds are coming for the company, which could shake the stock, Tepper said. He mentioned an expiring tax credit, which could hurt demand, and increased competition, which means the company is jockeying for customers over price as well as quality.

“Quite frankly my biggest issue is management doesn’t execute on what they say. I don’t need management selling me a bill of goods. I want execution and you’re not getting that from Tesla,” said Tepper.

Tesla has not responded to a request for comment.

Following earnings, Katie Stockton, founder of Fairlead Strategies, said the company needs to hold one key level to prevent it from tumbling.

“There’s a very strong support level right around $250 for Tesla so we really want to see that level hold to preserve the long-term neutral bias of the chart,” Stockton said Tuesday on “Trading Nation.” “The latest down move that we’ve seen has been significant. It has marked underperformance. It’s very rare right now to see in the marketplace a stock that actually topped last December and this is one of those few, but we need some stabilization near support to get convinced that we have a basing phase in place for Tesla.”

“I also feel like to me that the support is likely to hold because we have seen a slight loss of downside momentum,” Stockton said.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: keris lahiff, mark ralston, afp, getty images, kevin frayer, lindsey wasson, david becker, getty images news, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, share, need, 100, level, stock, stockton, tesla, hold, company, thats, valued, trading, support, investor


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Facebook investors brace for an update from Zuckerberg on the company’s planned pivot to privacy

Facebook reports earnings after the closing bell Wednesday, and investors will be looking for signs it can shift its business to focus more on privacy while continuing to grow revenue and users. Analysts expect Facebook to report revenue growth of 25 percent to $15 billion, from nearly $12 billion a year ago, according to estimates from Refinitiv. The company claims to have 500 million daily Instagram Stories users, and investors will want to see that those figures are still growing. With Facebo


Facebook reports earnings after the closing bell Wednesday, and investors will be looking for signs it can shift its business to focus more on privacy while continuing to grow revenue and users. Analysts expect Facebook to report revenue growth of 25 percent to $15 billion, from nearly $12 billion a year ago, according to estimates from Refinitiv. The company claims to have 500 million daily Instagram Stories users, and investors will want to see that those figures are still growing. With Facebo
Facebook investors brace for an update from Zuckerberg on the company’s planned pivot to privacy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: salvador rodriguez, saul loeb, afp, getty images
Keywords: news, cnbc, companies, planned, companys, privacy, shift, business, pivot, update, zuckerberg, facebook, brace, revenue, instagram, users, company, whatsapp, investors


Facebook investors brace for an update from Zuckerberg on the company's planned pivot to privacy

Facebook reports earnings after the closing bell Wednesday, and investors will be looking for signs it can shift its business to focus more on privacy while continuing to grow revenue and users.

“I believe the future of communication will increasingly shift to private, encrypted services where people can be confident what they say to each other stays secure and their messages and content won’t stick around forever,” Facebook CEO Mark Zuckerberg wrote in March. “This is the future I hope we will help bring about.”

Zuckerberg said the company is working to integrate the messaging functions of WhatsApp, Messenger and Instagram, and that he expects “Messenger and WhatsApp to become the main ways people communicate on the Facebook network.”

But many questions remain. The company has not said how long it will take for this messaging integration to get done, how expensive that shift will be or how it will monetize users’ private communications.

The social media company is making the shift to privacy after enduring a barrage of privacy troubles in the last year, from the Cambridge Analytica scandal in March 2018, which revealed that a political research firm used improperly acquired Facebook user data to target political ads in 2016, to a revelation last month that company employees could have accessed passwords from hundreds of millions of users.

Facebook’s advertising business has been able to weather the privacy scandals, but 74 percent of adult Facebook users in the U.S. say they have adjusted their privacy settings, taken a break from the social network or deleted the Facebook app from the phone at some point in the past year, according to a Pew Research Center survey in February.

Analysts expect Facebook to report revenue growth of 25 percent to $15 billion, from nearly $12 billion a year ago, according to estimates from Refinitiv. That would mark the slowest year-over-year growth for any quarter since Facebook’s IPO in 2012. Net income is expected to decrease to $1.63 a share from $1.69 a year earlier.

“For investors, we are asking ourselves, at what cost will this transformation come? Facebook has already beefed up their security staff and will need to make more investments in data privacy,” said Carter Henderson, portfolio specialist and director of institutional development at Fort Pitt Capital Group.

Already, Facebook’s advertising business is going through its own major shift as the company weans itself off News Feed ads and grows the ad revenue coming from its Stories products. The company claims to have 500 million daily Instagram Stories users, and investors will want to see that those figures are still growing.

“Stories advertising has proliferated on both traditional FB and Instagram, and management is working on monetizing stories at a higher rate,” Guggenheim analysts said in a note Thursday.

With Facebook adding an even broader shift to privacy into the mix, investors will want to hear from the company’s leadership about how its various other bets are playing out. Any progress from the company’s efforts with the monetization of WhatsApp and Messenger, sales of Oculus virtual reality headsets, the addition of an e-commerce feature to Instagram or the development of a blockchain-based Facebook cryptocurrency will be key to how investors react.

“Zuck’s announcement about the company’s pivot clearly shows that they will be investing in other revenue streams and business models outside of their core business,” said Henry Liu, a former Facebook employee and managing partner of YGC, an enterprise blockchain investment firm. “It’s important for investors to pay attention to what those things are.”

WATCH: Here’s how to see which apps have access to your Facebook data — and cut them off


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: salvador rodriguez, saul loeb, afp, getty images
Keywords: news, cnbc, companies, planned, companys, privacy, shift, business, pivot, update, zuckerberg, facebook, brace, revenue, instagram, users, company, whatsapp, investors


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Salesforce nearly doubled its money in Zoom IPO, but company says it’s in for the long term

Salesforce invested $100 million in Zoom’s IPO, and it’s paying off quickly, almost doubling in value in just three trading days. It’s the result of an unconventional investing approach for Salesforce Ventures. With Zoom, the company is working to enable live video for Salesforce’s sales and service representatives and is integrating Salesforce’s Einstein artificial intelligence technology to transcribe Zoom video meetings for participants, said John Somorjai, the head of Salesforce Ventures. Zo


Salesforce invested $100 million in Zoom’s IPO, and it’s paying off quickly, almost doubling in value in just three trading days. It’s the result of an unconventional investing approach for Salesforce Ventures. With Zoom, the company is working to enable live video for Salesforce’s sales and service representatives and is integrating Salesforce’s Einstein artificial intelligence technology to transcribe Zoom video meetings for participants, said John Somorjai, the head of Salesforce Ventures. Zo
Salesforce nearly doubled its money in Zoom IPO, but company says it’s in for the long term Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: ari levy, kena betancur, getty images
Keywords: news, cnbc, companies, ventures, long, doubled, zoom, video, somorjai, salesforces, million, surveymonkey, money, term, salesforce, venture, company, ipo, nearly, dropbox


Salesforce nearly doubled its money in Zoom IPO, but company says it's in for the long term

Salesforce invested $100 million in Zoom’s IPO, and it’s paying off quickly, almost doubling in value in just three trading days.

It’s the result of an unconventional investing approach for Salesforce Ventures. Like other corporate venture arms, Salesforce typically backs earlier-stage companies, but since early last year the venture group has been buying shares in select IPOs, like Dropbox and SurveyMonkey, hoping to benefit from the expected pop and to forge a tighter bond with emerging cloud software companies.

With Zoom, the company is working to enable live video for Salesforce’s sales and service representatives and is integrating Salesforce’s Einstein artificial intelligence technology to transcribe Zoom video meetings for participants, said John Somorjai, the head of Salesforce Ventures.

“It was a very basic integration and now will be much deeper,” Somorjai said in an interview this week. “There are a lot of ways we can bring these products together.”

Shares of Zoom rocketed 72% in their debut on Thursday and have continued to trade higher, closing on Tuesday at $69, valuing Salesforce’s stake at about $192 million. But while Salesforce Ventures invested alongside traditional public market buyers, the company agreed to the same 180-day lockup period as insiders and even signed a so-called standoff agreement with Zoom not to sell the shares for up to a year, according to the prospectus.

“Our goal is to be long-term investors,” said Somorjai, who is also Salesforce’s executive vice president of corporate development.

Zoom is the third cloud software stock Salesforce has bought in an IPO, following Dropbox in March 2018 and SurveyMonkey in September. Both of those produced less dramatic returns. Salesforce’s $100 million investment in Dropbox is now worth $111 million, and its $40 million initial stake in SurveyMonkey is valued at $58.5 million as of Tuesday’s close.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: ari levy, kena betancur, getty images
Keywords: news, cnbc, companies, ventures, long, doubled, zoom, video, somorjai, salesforces, million, surveymonkey, money, term, salesforce, venture, company, ipo, nearly, dropbox


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