Snap plunges after its earnings beat as analysts say it’s going to take longer to get profitable

Snap was down more than 5% Wednesday morning following an initial after-hours rally on its earnings beat. Snap also beat analyst estimates on revenue, reporting $320 million compared with the $307 million forecast by Refinitiv. It surpassed expectations on global daily active users (DAUs) and average revenue per user (ARPU) on top of that. In notes Wednesday morning, analysts said that Snap’s new investments will prevent it from nearing profitability in the short term. Watch: Snap surged after i


Snap was down more than 5% Wednesday morning following an initial after-hours rally on its earnings beat. Snap also beat analyst estimates on revenue, reporting $320 million compared with the $307 million forecast by Refinitiv. It surpassed expectations on global daily active users (DAUs) and average revenue per user (ARPU) on top of that. In notes Wednesday morning, analysts said that Snap’s new investments will prevent it from nearing profitability in the short term. Watch: Snap surged after i
Snap plunges after its earnings beat as analysts say it’s going to take longer to get profitable Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: lauren feiner, adam galica
Keywords: news, cnbc, companies, plunges, say, revenue, going, analysts, profitable, beat, stock, wrote, target, snaps, longer, user, price, snap, rating, earnings


Snap plunges after its earnings beat as analysts say it's going to take longer to get profitable

Snap was down more than 5% Wednesday morning following an initial after-hours rally on its earnings beat. The drop shaved more than $800 million from its market cap, bringing it to around $15 billion, though the stock is still up more than 105% in 2019.

The shares popped as much as 11% on Tuesday in extended trading after the company reported a loss of 10 cents per share compared with the 12 cents forecast by Refinitiv. Snap also beat analyst estimates on revenue, reporting $320 million compared with the $307 million forecast by Refinitiv. It surpassed expectations on global daily active users (DAUs) and average revenue per user (ARPU) on top of that.

But the surge began to fade to just about a 1% bump in after-hours trading as investors continued to read through the report and listened to Snap’s earnings call.

Analysts remain wary of the stock despite its slew of new feature announcements including an ad-supported gaming platform, a fresh lineup of original shows and a new ad platform. In notes Wednesday morning, analysts said that Snap’s new investments will prevent it from nearing profitability in the short term.

“While we are impressed with Snap’s user and revenue growth, the company’s road to profitability appears to have gotten longer,” Wedbush Securities analysts wrote in a note Wednesday, maintaining their neutral rating with a 12-month price target of $12.25. “The company has taken several steps to improve the utility of its app, increase user engagement, and explain its value proposition to advertisers, but increasing spending leaves us concerned that Snap will not achieve profitability until 2021 at the earliest.”

Atlantic Equities analysts gave the stock an underweight rating, while raising their price target from $7.50 to $10, based on increased assumptions for both costs and revenue. While the analysts were pleased with Snap’s “solid progress with monetization in Q1,” they wrote, “commentary regarding Q2 user trends was relatively cautious and the company indicated it plans to increase investment to drive growth, which could further push out profitability.”

Analysts expressed some reserved optimism about Snap’s new features, including the recent rollout of its Android app rebuild that Snap says will drive more user growth, but they continue to see spending racking up as it works toward long-term growth.

“Early results showed a modest increase in frequency of use for Snapchatters who have downloaded the rebuilt app, though this may take time to flow through to financials,” Canaccord Genuity Capital Markets analysts wrote, giving the stock a hold rating and upgrading its price target from $9.50 to $13.

Stifel analysts also recognized the potential value in Snap’s new initiatives.

“Although Snap is executing a potentially disruptive sales organization restructuring during 2Q, the company’s ad products appear to be gaining traction with both large brands and direct response advertisers as they continue to grow in sophistication, building Snap’s active advertiser base and auction density,” the analysts wrote, giving the stock a hold rating while upgrading its price target from $10 to $13. “Snap’s plans to invest in marketing, content, engineering, and sales in 2Q to support its long-term strategic objectives could mitigate near-term operating leverage but we still believe the company can reach breakeven adj. EBITDA by 2021.”

Disclosure: CNBC parent NBCUniversal is an investor in Snap .

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Watch: Snap surged after its earnings report, and here’s what the CEO said that had investors so excited


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: lauren feiner, adam galica
Keywords: news, cnbc, companies, plunges, say, revenue, going, analysts, profitable, beat, stock, wrote, target, snaps, longer, user, price, snap, rating, earnings


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Melinda Gates: Capitalism needs work, but it beats socialism and the US is ‘lucky’ to have it

Capitalism vs. socialism? “What I know to be true is I would far rather live in a capitalistic society than a socialist society,” Gates said in an interview with CNBC’s Becky Quick that aired on “Squawk Box” on Wednesday. “I think when we stop and think of what we have from a capitalistic society, we have to remember what we actually have.” Gates’ comments come as the American political system is embroiled in a debate about socialism and capitalism. Without mentioning the political debate, Gates


Capitalism vs. socialism? “What I know to be true is I would far rather live in a capitalistic society than a socialist society,” Gates said in an interview with CNBC’s Becky Quick that aired on “Squawk Box” on Wednesday. “I think when we stop and think of what we have from a capitalistic society, we have to remember what we actually have.” Gates’ comments come as the American political system is embroiled in a debate about socialism and capitalism. Without mentioning the political debate, Gates
Melinda Gates: Capitalism needs work, but it beats socialism and the US is ‘lucky’ to have it Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: emma newburger
Keywords: news, cnbc, companies, needs, melinda, say, society, socialism, capitalism, beats, capitalistic, gates, work, lucky, system, need, think, live


Melinda Gates: Capitalism needs work, but it beats socialism and the US is 'lucky' to have it

Capitalism vs. socialism? For Melinda Gates, the choice is simple.

“What I know to be true is I would far rather live in a capitalistic society than a socialist society,” Gates said in an interview with CNBC’s Becky Quick that aired on “Squawk Box” on Wednesday. “I think when we stop and think of what we have from a capitalistic society, we have to remember what we actually have.”

Gates’ comments come as the American political system is embroiled in a debate about socialism and capitalism. Several Democratic lawmakers and presidential candidates have called for sweeping changes to a system they say is responsible for growing inequality and division within the country. President Donald Trump has accused them of embracing socialism, which he says would lead to economic ruin in the U.S.

Without mentioning the political debate, Gates, who co-chairs the Bill and Melinda Gates Foundation along with her husband, Microsoft co-founder Bill Gates, defended the U.S. system. Yet she also acknowledged the need to address the gaps between the rich and the poor.

Gates also said U.S. residents are “lucky,” and that people living in developing countries “want to live in these types of capitalistic societies.”

Several American billionaires have argued that the modern version of capitalism isn’t working. Wealthy business leaders such as Warren Buffett, Jamie Dimon, Ray Dalio and Bill Gates have called for fixes to widening economic inequality and the lack of public education funding. Some are advocating for public-private partnerships and higher taxes on the wealthy to address widespread income inequality.

These business leaders have also condemned arguments for socialism. Dimon, CEO of J.P. Morgan, told shareholders this month that socialism “inevitably produces stagnation, corruption and often worse,” but acknowledged there are flaws with capitalism and that it should be combined with a strong social safety net.

In her CNBC interview, Gates called for proper government regulation and a solid tax system to address capitalism’s gaps.

“I think we all do better as a globe when countries can grow from low, to middle income, to high income,” she said. “And so I think we need to look at our system and say, ‘OK, what are the great things about it? And what are the things that, at this point in time, we need to adjust and change?'”

Despite these issues, she said, American capitalism is the envy of much of the world.

“When I go to places like Malawi or Tanzania or Senegal, they say they all want to live in America,” Gates said. “We are lucky to live here. They want to live in these types of capitalistic societies. And we just need to tune it and get it right.”


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: emma newburger
Keywords: news, cnbc, companies, needs, melinda, say, society, socialism, capitalism, beats, capitalistic, gates, work, lucky, system, need, think, live


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Snap plunges after its earnings beat as analysts say it’s going to take longer to get profitable

Snap was down more than 4% Wednesday following an initial after-hours rally on its earnings beat. Snap also beat analyst estimates on revenue, reporting $320 million compared with the $307 million forecast by Refinitiv. It surpassed expectations on global daily active users (DAUs) and average revenue per user (ARPU) on top of that. In notes Wednesday morning, analysts said that Snap’s new investments will prevent it from nearing profitability in the short term. Watch: Snap surged after its earni


Snap was down more than 4% Wednesday following an initial after-hours rally on its earnings beat. Snap also beat analyst estimates on revenue, reporting $320 million compared with the $307 million forecast by Refinitiv. It surpassed expectations on global daily active users (DAUs) and average revenue per user (ARPU) on top of that. In notes Wednesday morning, analysts said that Snap’s new investments will prevent it from nearing profitability in the short term. Watch: Snap surged after its earni
Snap plunges after its earnings beat as analysts say it’s going to take longer to get profitable Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: lauren feiner, adam galica
Keywords: news, cnbc, companies, plunges, say, revenue, going, analysts, profitable, beat, stock, wrote, target, snaps, longer, user, price, snap, rating, earnings


Snap plunges after its earnings beat as analysts say it's going to take longer to get profitable

Snap was down more than 4% Wednesday following an initial after-hours rally on its earnings beat. The drop shaved more than $700 million from its market cap, bringing it to around $15 billion, though the stock is still up more than 105% in 2019.

The shares popped as much as 11% on Tuesday in extended trading after the company reported a loss of 10 cents per share compared with the 12 cents forecast by Refinitiv. Snap also beat analyst estimates on revenue, reporting $320 million compared with the $307 million forecast by Refinitiv. It surpassed expectations on global daily active users (DAUs) and average revenue per user (ARPU) on top of that.

But the surge began to fade to just about a 1% bump in after-hours trading as investors continued to read through the report and listened to Snap’s earnings call.

Analysts remain wary of the stock despite its slew of new feature announcements including an ad-supported gaming platform, a fresh lineup of original shows and a new ad platform. In notes Wednesday morning, analysts said that Snap’s new investments will prevent it from nearing profitability in the short term.

“While we are impressed with Snap’s user and revenue growth, the company’s road to profitability appears to have gotten longer,” Wedbush Securities analysts wrote in a note Wednesday, maintaining their neutral rating with a 12-month price target of $12.25. “The company has taken several steps to improve the utility of its app, increase user engagement, and explain its value proposition to advertisers, but increasing spending leaves us concerned that Snap will not achieve profitability until 2021 at the earliest.”

Atlantic Equities analysts gave the stock an underweight rating, while raising their price target from $7.50 to $10, based on increased assumptions for both costs and revenue. While the analysts were pleased with Snap’s “solid progress with monetization in Q1,” they wrote, “commentary regarding Q2 user trends was relatively cautious and the company indicated it plans to increase investment to drive growth, which could further push out profitability.”

Analysts expressed some reserved optimism about Snap’s new features, including the recent rollout of its Android app rebuild that Snap says will drive more user growth, but they continue to see spending racking up as it works toward long-term growth.

“Early results showed a modest increase in frequency of use for Snapchatters who have downloaded the rebuilt app, though this may take time to flow through to financials,” Canaccord Genuity Capital Markets analysts wrote, giving the stock a hold rating and upgrading its price target from $9.50 to $13.

Stifel analysts also recognized the potential value in Snap’s new initiatives.

“Although Snap is executing a potentially disruptive sales organization restructuring during 2Q, the company’s ad products appear to be gaining traction with both large brands and direct response advertisers as they continue to grow in sophistication, building Snap’s active advertiser base and auction density,” the analysts wrote, giving the stock a hold rating while upgrading its price target from $10 to $13. “Snap’s plans to invest in marketing, content, engineering, and sales in 2Q to support its long-term strategic objectives could mitigate near-term operating leverage but we still believe the company can reach breakeven adj. EBITDA by 2021.”

Disclosure: CNBC parent NBCUniversal is an investor in Snap .

Subscribe to CNBC on YouTube.

Watch: Snap surged after its earnings report, and here’s what the CEO said that had investors so excited


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: lauren feiner, adam galica
Keywords: news, cnbc, companies, plunges, say, revenue, going, analysts, profitable, beat, stock, wrote, target, snaps, longer, user, price, snap, rating, earnings


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The money advice every millennial needs to hear

Rent or buy? Cut out the daily coffee or concentrate on the big costs? When it comes to money, there’s so much guidance out there, it can be difficult to know where to start. So CNBC Make It took to the streets to ask millennials their biggest money questions before putting them to experts at Money 2020, annual finance conference hosted in Singapore. Here’s what the professionals had to say.


Rent or buy? Cut out the daily coffee or concentrate on the big costs? When it comes to money, there’s so much guidance out there, it can be difficult to know where to start. So CNBC Make It took to the streets to ask millennials their biggest money questions before putting them to experts at Money 2020, annual finance conference hosted in Singapore. Here’s what the professionals had to say.
The money advice every millennial needs to hear Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: karen gilchrist, -rohan mahadevan, senior vice president of international markets at, -eric van miltenburg, senior vice president of global operations at ripp
Keywords: news, cnbc, companies, took, theres, streets, needs, rent, millennial, money, startso, say, hear, singaporeheres, advice, questions, save


The money advice every millennial needs to hear

Rent or buy? Save or invest? Cut out the daily coffee or concentrate on the big costs?

When it comes to money, there’s so much guidance out there, it can be difficult to know where to start.

So CNBC Make It took to the streets to ask millennials their biggest money questions before putting them to experts at Money 2020, annual finance conference hosted in Singapore.

Here’s what the professionals had to say.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: karen gilchrist, -rohan mahadevan, senior vice president of international markets at, -eric van miltenburg, senior vice president of global operations at ripp
Keywords: news, cnbc, companies, took, theres, streets, needs, rent, millennial, money, startso, say, hear, singaporeheres, advice, questions, save


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Stocks reclaim record highs, but investor enthusiasm is lacking

Stocks have reclaimed their old highs and should continue to make new ones, but without some of the fanfare and excitement of some past rallies. The S&P 500 and Nasdaq both surpassed their September closing highs on Tuesday after a string of solid earnings news. Putting it in that context, I would say I’m not as worried about the market as a lot of people. Redler, who watches the short term technicals, said the S&P first pressed the 2,900 level as earnings season started. Redler said stocks have


Stocks have reclaimed their old highs and should continue to make new ones, but without some of the fanfare and excitement of some past rallies. The S&P 500 and Nasdaq both surpassed their September closing highs on Tuesday after a string of solid earnings news. Putting it in that context, I would say I’m not as worried about the market as a lot of people. Redler, who watches the short term technicals, said the S&P first pressed the 2,900 level as earnings season started. Redler said stocks have
Stocks reclaim record highs, but investor enthusiasm is lacking Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: patti domm
Keywords: news, cnbc, companies, fed, started, redler, highs, ones, worried, reclaim, sp, investor, stocks, lacking, earnings, enthusiasm, market, record, say


Stocks reclaim record highs, but investor enthusiasm is lacking

Stocks have reclaimed their old highs and should continue to make new ones, but without some of the fanfare and excitement of some past rallies.

The S&P 500 and Nasdaq both surpassed their September closing highs on Tuesday after a string of solid earnings news. The Dow is still about a percent away from its high, at 26,656.

“We’ve essentially just gone back to September. People look at this 17% year-to-date move and say it seems like an unsustainable trend. We have to keep in mind we’re now flat to where we were back in September,” said Jack Ablin, CIO of Cresset Wealth Advisors. “This is just taking back the correction. Putting it in that context, I would say I’m not as worried about the market as a lot of people. In the earnings reports, there were some blockbuster surprises.”

T3Live.com’s Scott Redler said investors continue to doubt the market, even as some indexes hit highs.

“The sentiment is typically not bullish,” he said. “Everyone is worried about… trade wars, while passive money comes in and the market marches higher.”

Redler, who watches the short term technicals, said the S&P first pressed the 2,900 level as earnings season started. The so-called FAANG stocks — Facebook, Amazon, Apple, Netflix and Google-parent Alphabet — rallied and that helped lead the market. Now those names and related tech favorites are the ones to watch when Facebook and Microsoft report earnings Wednesday, followed by Amazon on Thursday.

Beyond that, the market will also soon be tested by the Fed, which meets May 1. Redler said stocks have been moving higher since the Fed “pivot,” when officials started to signal that more interest rate hikes were unlikely. Some market pros believe the Fed will even cut interest rates before it ever raises them again.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: patti domm
Keywords: news, cnbc, companies, fed, started, redler, highs, ones, worried, reclaim, sp, investor, stocks, lacking, earnings, enthusiasm, market, record, say


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Netflix, streaming services win Oscars cinema rule battle

In a win for Netflix, Amazon and other internet streaming services, the Academy of Motion Picture Arts and Sciences has voted not to change its rules for winning an Oscar, Hollywood’s top prize. Some theater owners say short runs at a theater means more people will stay home to watch movies. In February, Netflix won three Oscars for “Roma,” which streamed three weeks after a limited theatrical debut. Netflix tweeted that it “loved cinema” but also supported access for people who cannot afford, o


In a win for Netflix, Amazon and other internet streaming services, the Academy of Motion Picture Arts and Sciences has voted not to change its rules for winning an Oscar, Hollywood’s top prize. Some theater owners say short runs at a theater means more people will stay home to watch movies. In February, Netflix won three Oscars for “Roma,” which streamed three weeks after a limited theatrical debut. Netflix tweeted that it “loved cinema” but also supported access for people who cannot afford, o
Netflix, streaming services win Oscars cinema rule battle Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: mario anzuoni
Keywords: news, cnbc, companies, movie, rules, services, theater, theatrical, win, motion, cinema, say, netflix, streaming, battle, movies, oscars, rule, small, marcus


Netflix, streaming services win Oscars cinema rule battle

In a win for Netflix, Amazon and other internet streaming services, the Academy of Motion Picture Arts and Sciences has voted not to change its rules for winning an Oscar, Hollywood’s top prize.

The decision follows a battle over how long a movie must play on the big screens in theaters before being launched on the internet, DVD, or other mediums that put it on the small screen.

The Academy’s Board of Governors said on Tuesday that the existing rules, which say a movie has to run in a theater for only seven days in Los Angeles to qualify, had won.

“We support the theatrical experience as integral to the art of motion pictures, and this weighed heavily in our discussions,” Academy President John Bailey said in a release.

Some theater owners say short runs at a theater means more people will stay home to watch movies.

And movie producers including Steven Spielberg have said movies that are shown primarily on the small screen should only compete for television awards, such as the Emmys.

In February, Netflix won three Oscars for “Roma,” which streamed three weeks after a limited theatrical debut.

Netflix tweeted that it “loved cinema” but also supported access for people who cannot afford, or do not live close to, theaters.

Shorter windows would keep some customers at home, Greg Marcus, chief executive of The Marcus Corporation, owner of the fourth-largest U.S. theater chain, earlier told Reuters.

“If you damage the business and take away 10 percent of our customers, we won’t be able to reinvest in the theatrical experience,” Marcus said. “That would ultimately hurt content providers.”

Others said consumers are happy with the current system.

Ticket sales in 2018 reached a record $41 billion globally and $12 billion in the United States and Canada, even as Netflix released about 90 movies for streaming.

“We’re not talking about something that’s broken,” Vue International cinemas CEO Tim Richards said in an earlier interview with Reuters.

The Academy’s Bailey said the rule could be revisited next year.

“We plan to further study the profound changes occurring in our industry and continue discussions with our members about these issues,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: mario anzuoni
Keywords: news, cnbc, companies, movie, rules, services, theater, theatrical, win, motion, cinema, say, netflix, streaming, battle, movies, oscars, rule, small, marcus


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Twitter beats analysts’ earnings–Here’s what four experts say is next for the stock

Twitter beats analysts’ earnings–Here’s what four experts say is next for the stock16 Hours AgoTwitter’s first quarter earnings crushed market expectations. The stock surged 17 percent following the news. Four experts weigh in on what the strong numbers mean for the stock’s future.


Twitter beats analysts’ earnings–Here’s what four experts say is next for the stock16 Hours AgoTwitter’s first quarter earnings crushed market expectations. The stock surged 17 percent following the news. Four experts weigh in on what the strong numbers mean for the stock’s future.
Twitter beats analysts’ earnings–Here’s what four experts say is next for the stock Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23
Keywords: news, cnbc, companies, twitter, weigh, analysts, stock, strong, earningsheres, say, stocks, stock16, surged, beats, quarter, experts


Twitter beats analysts' earnings–Here's what four experts say is next for the stock

Twitter beats analysts’ earnings–Here’s what four experts say is next for the stock

16 Hours Ago

Twitter’s first quarter earnings crushed market expectations. The stock surged 17 percent following the news. Four experts weigh in on what the strong numbers mean for the stock’s future.


Company: cnbc, Activity: cnbc, Date: 2019-04-23
Keywords: news, cnbc, companies, twitter, weigh, analysts, stock, strong, earningsheres, say, stocks, stock16, surged, beats, quarter, experts


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Samsung delays shipping its $2,000 folding smartphone. Analysts say that hurts the brand

The South Korean electronics firm was set to launch its Galaxy Fold smartphone on April 26. Samsung shares traded down 0.33% Tuesday afternoon, tracking below the South Korean benchmark index, Kospi, which traded near flat. “I doubt that the delay will be for long period of time given it had experience of Note 7 launch.” It’s not like the Note 7 battery issue or anything like that,” he said, adding the smartphone giant needs “to get this right.” In 2016, Samsung experienced one of the worst tech


The South Korean electronics firm was set to launch its Galaxy Fold smartphone on April 26. Samsung shares traded down 0.33% Tuesday afternoon, tracking below the South Korean benchmark index, Kospi, which traded near flat. “I doubt that the delay will be for long period of time given it had experience of Note 7 launch.” It’s not like the Note 7 battery issue or anything like that,” he said, adding the smartphone giant needs “to get this right.” In 2016, Samsung experienced one of the worst tech
Samsung delays shipping its $2,000 folding smartphone. Analysts say that hurts the brand Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: saheli roy choudhury, magdalena petrova
Keywords: news, cnbc, companies, analysts, smartphone, launch, phone, note, delay, traded, samsung, samsungs, delays, date, hurts, 2000, folding, brand, say, shipping, galaxy


Samsung delays shipping its $2,000 folding smartphone. Analysts say that hurts the brand

Samsung’s decision to delay the release of the nearly $2,000 foldable phone will hurt its brand reputation in the short term, but the flagging smartphone industry is still betting on the tech giant to produce a winner, analysts said Tuesday.

The South Korean electronics firm was set to launch its Galaxy Fold smartphone on April 26. After some reviewers, including CNBC’s Todd Haselton, encountered issues with early testing units, Samsung said Monday the phone “needs further improvements” before it’s released to customers. The company added that a new release date will be announced “in the coming weeks.”

Samsung shares traded down 0.33% Tuesday afternoon, tracking below the South Korean benchmark index, Kospi, which traded near flat.

If the phone’s launch is delayed for too long, it will be a cause for concern among stakeholders, according to Daniel Yoo, head of global strategy and research at Kiwoom Securities. He told CNBC by email that Samsung’s flagship Galaxy S10 is seen as a “very satisfactory” device, but the launch of the foldable phone will determine if the world’s largest smartphone maker can remain a leader in the sector and continue to play an important role in technology advancement.

“I expect Samsung to solve all the problems before the newly announced official launch date, and the date will be most likely before the end of 2Q2019,” he said, referring to the three months that will end in June. “I doubt that the delay will be for long period of time given it had experience of Note 7 launch.”

Bob O’Donnell, president, founder and chief analyst at Technalysis Research, told CNBC’s “Squawk Box” on Tuesday that the delay will hit Samsung’s brand.

“Granted, it’s going to hit the brand, but I don’t think it’s a killer. It’s not like the Note 7 battery issue or anything like that,” he said, adding the smartphone giant needs “to get this right.”

In 2016, Samsung experienced one of the worst technology recalls in recent times after some of its faulty Galaxy Note 7 devices suffered battery malfunctions and spontaneously caught fire.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: saheli roy choudhury, magdalena petrova
Keywords: news, cnbc, companies, analysts, smartphone, launch, phone, note, delay, traded, samsung, samsungs, delays, date, hurts, 2000, folding, brand, say, shipping, galaxy


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Samsung delays shipping its $2,000 folding smartphone. Analysts say that hurts the brand

The South Korean electronics firm was set to launch its Galaxy Fold smartphone on April 26. Samsung shares traded down 0.33% Tuesday afternoon, tracking below the South Korean benchmark index, Kospi, which traded near flat. “I doubt that the delay will be for long period of time given it had experience of Note 7 launch.” It’s not like the Note 7 battery issue or anything like that,” he said, adding the smartphone giant needs “to get this right.” In 2016, Samsung experienced one of the worst tech


The South Korean electronics firm was set to launch its Galaxy Fold smartphone on April 26. Samsung shares traded down 0.33% Tuesday afternoon, tracking below the South Korean benchmark index, Kospi, which traded near flat. “I doubt that the delay will be for long period of time given it had experience of Note 7 launch.” It’s not like the Note 7 battery issue or anything like that,” he said, adding the smartphone giant needs “to get this right.” In 2016, Samsung experienced one of the worst tech
Samsung delays shipping its $2,000 folding smartphone. Analysts say that hurts the brand Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: saheli roy choudhury, magdalena petrova
Keywords: news, cnbc, companies, analysts, smartphone, launch, phone, note, delay, traded, samsung, samsungs, delays, date, hurts, 2000, folding, brand, say, shipping, galaxy


Samsung delays shipping its $2,000 folding smartphone. Analysts say that hurts the brand

Samsung’s decision to delay the release of the nearly $2,000 foldable phone will hurt its brand reputation in the short term, but the flagging smartphone industry is still betting on the tech giant to produce a winner, analysts said Tuesday.

The South Korean electronics firm was set to launch its Galaxy Fold smartphone on April 26. After some reviewers, including CNBC’s Todd Haselton, encountered issues with early testing units, Samsung said Monday the phone “needs further improvements” before it’s released to customers. The company added that a new release date will be announced “in the coming weeks.”

Samsung shares traded down 0.33% Tuesday afternoon, tracking below the South Korean benchmark index, Kospi, which traded near flat.

If the phone’s launch is delayed for too long, it will be a cause for concern among stakeholders, according to Daniel Yoo, head of global strategy and research at Kiwoom Securities. He told CNBC by email that Samsung’s flagship Galaxy S10 is seen as a “very satisfactory” device, but the launch of the foldable phone will determine if the world’s largest smartphone maker can remain a leader in the sector and continue to play an important role in technology advancement.

“I expect Samsung to solve all the problems before the newly announced official launch date, and the date will be most likely before the end of 2Q2019,” he said, referring to the three months that will end in June. “I doubt that the delay will be for long period of time given it had experience of Note 7 launch.”

Bob O’Donnell, president, founder and chief analyst at Technalysis Research, told CNBC’s “Squawk Box” on Tuesday that the delay will hit Samsung’s brand.

“Granted, it’s going to hit the brand, but I don’t think it’s a killer. It’s not like the Note 7 battery issue or anything like that,” he said, adding the smartphone giant needs “to get this right.”

In 2016, Samsung experienced one of the worst technology recalls in recent times after some of its faulty Galaxy Note 7 devices suffered battery malfunctions and spontaneously caught fire.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: saheli roy choudhury, magdalena petrova
Keywords: news, cnbc, companies, analysts, smartphone, launch, phone, note, delay, traded, samsung, samsungs, delays, date, hurts, 2000, folding, brand, say, shipping, galaxy


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Trump’s crackdown on Iran leaves the oil market vulnerable to price spikes

In the Trump administration’s telling, its decision to cut off Iran’s oil exports in just over a week will have little impact on crude prices. This could nudge the oil market dangerously close to a negative supply shock,” Montreal-based macro research firm BCA Research said Monday. Oil prices surged to nearly six-month highs after the Trump administration said it will not extend sanctions waivers for several of Iran’s biggest oil customers. The move aims to shrink Iran’s oil shipments from rough


In the Trump administration’s telling, its decision to cut off Iran’s oil exports in just over a week will have little impact on crude prices. This could nudge the oil market dangerously close to a negative supply shock,” Montreal-based macro research firm BCA Research said Monday. Oil prices surged to nearly six-month highs after the Trump administration said it will not extend sanctions waivers for several of Iran’s biggest oil customers. The move aims to shrink Iran’s oil shipments from rough
Trump’s crackdown on Iran leaves the oil market vulnerable to price spikes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: tom dichristopher, pete marovich, bloomberg, getty images
Keywords: news, cnbc, companies, spikes, sanctions, iran, trump, opec, prices, vulnerable, say, market, shipments, irans, oil, output, crackdown, price, trumps, leaves


Trump's crackdown on Iran leaves the oil market vulnerable to price spikes

In the Trump administration’s telling, its decision to cut off Iran’s oil exports in just over a week will have little impact on crude prices. There’s enough supply to meet global demand, officials say, and the administration’s Middle East allies will ride to the rescue if the world finds itself short of fuel.

But outside the Oval Office, the outlook is not so rosy.

Analysts say President Donald Trump’s hardline approach injects new risks into a fragile market besieged by instability in key oil-producing nations. They say global crude supplies are already getting tight, and Trump’s surprise crackdown will leave the market with little cushion to address future disruptions.

“Oil production is being curtailed at a time when Venezuelan output is rapidly falling, conflict in Libya is reviving, and OPEC spare capacity remains tight. This could nudge the oil market dangerously close to a negative supply shock,” Montreal-based macro research firm BCA Research said Monday.

Oil prices surged to nearly six-month highs after the Trump administration said it will not extend sanctions waivers for several of Iran’s biggest oil customers. The exemptions allowed a handful of countries — including China and India — to import limited shipments of Iranian crude without triggering U.S. sanctions on Iran.

The move aims to shrink Iran’s oil shipments from roughly 1 million barrels per day to zero, though analysts expect some countries to defy the ultimatum.

Still, investment banks now expect Iranian shipments to fall by another several hundred thousand barrels per day, further tightening the market. This comes as Venezuela’s output craters under the weight of economic crisis and U.S. sanctions and a fresh round of deadly civil conflict rocks Libya.

The Trump administration says Saudi Arabia and the United Arab Emirates have agreed to fill the gap left by the Iranian barrels.

That suggests those OPEC members will soon hike production, reversing output cuts they implemented in January. OPEC and its oil market allies, including Russia, have been keeping about 1.2 million bpd off the market following a collapse in oil prices last year.

Saudi Arabia is already pumping about 500,000 bpd below its quota, giving the kingdom leeway to put more barrels on the market as shipments from Iran sink.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: tom dichristopher, pete marovich, bloomberg, getty images
Keywords: news, cnbc, companies, spikes, sanctions, iran, trump, opec, prices, vulnerable, say, market, shipments, irans, oil, output, crackdown, price, trumps, leaves


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