Fourth time is a charm for Snap. Shares soared over 45% after finally delivering an earnings report that impressed Wall Street. Daniel Ives, Chief Strategy Officer at GBH Insights, joined to discuss the report, as well as earnings results from Chipotle and Disney.
Snap shocked Wall Street after posting revenue of $285.7 million. Ives said it's the first step in the right direction toward a turnaround story. If Snap can get its act together, he can see it being a low-to-mid $20 stock. Ives said one quarter doesn't make a trend and that it's a huge "prove me" period for Spiegel and company to show that the turnaround is for real.
Disney announced it will price ESPN Plus, the company's first direct-to-consumer streaming service, at $4.99 per month. He said the new service, along with the deal for 21st Century Fox, will make the company a legitimate streaming player.
Chipotle continues to struggle to win back customers after the food-borne illness outbreaks. If Chipotle's stock falls another 15%-25%, Ives said it would be an attractive takeover target.
Microsoft has announced that it's hired Sam Altman and another co-founder of ChatGPT maker OpenAI after they unexpectedly departed the company days earlier in a corporate shakeup that shocked the artificial intelligence world.
Many factors lie behind the disconnect, but economists increasingly point to one in particular: The lingering financial and psychological effects of the worst bout of inflation in four decades.
Advertisers are fleeing social media platform X over concerns about their ads showing up next to pro-Nazi content, hate speech on the site in general or billionaire owner Elon Musk’s own posts endorsing an antisemitic conspiracy theory.
Big Business This Week is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street.
