Snap’s Middle East Headwind

Plus, Ford's supplemental dividend.

Sponsored by

Today is Wednesday, February 7, 2024.

The Early Bird Index today is 66.47.

New to this newsletter? Sign up here

Snap’s Middle East Headwind

Snapchat parent Snap (NYSE: SNAP) plummeted by 32.66% in after-hours trading on Tuesday after the technology company posted disappointing financial results.

Financials: Snap reported earnings of 8 cents per share in the past quarter, which was better than expected. But revenue only reached $1.36 billion, which was lower than expected.

Details: The company is projecting a loss between -$55 million to -$95 million in the current quarter.

Quote: “We estimate that the onset of the conflict in the Middle East was a headwind to year-over-year growth of approximately 2 percentage points in Q4.” - Snap’s letter to investors.

Final Thoughts: Snap was up 42% in the past year before these results. While the company’s premium service (Snapchat+) grew its subscribers, there are still so many problems with Snap’s current outlook.

Get the best stock ideas

Our AI tool scours the internet every day for the best stock ideas that we share with you each morning in our free, daily email.

We find stock ideas from:

  • Billion-dollar hedge funds

  • Professional analysts

  • Millionaire investors

  • and more…

We’ve already found stock ideas like:

  • Carvana ($CVNA) - +822% in 4 months

  • Myomo ($MYO) - +507% in 3 month

  • ImmunityBio ($IBRX) - +313% in 1 month

  • and a ton more…

Subscribe to our free, daily email to start getting the best stock ideas sent to your inbox each morning.


Notable Earnings Today: Walt Disney (NYSE: DIS), Alibaba Group (NYSE: BABA), PayPal Holdings (Nasdaq: PYPL), CVS Health (NYSE: CVS), Arm Holdings (Nasdaq: ARM), Yum! Brands (NYSE: YUM), Roblox (NYSE: RBLX), Hilton (NYSE: HLT), Uber Technologies (NYSE: UBER), Wynn Resorts (Nasadq: WYNN), Allstate (NYSE: ALL), XPO (NYSE: XPO), Paycom Software (NYSE: PAYC), Scotts Miracle-Gro (NYSE: SMG), Mattel (Nasdaq: MAT), News Corp. (Nasdaq: NWSA), Fox Corp (Nasdaq: FOXA), Emerson Electric (NYSE: EMR), McKesson (NYSE: MCK), Bunge (NYSE: BG), Ares Capital (Nasdaq: ARCC), Equifax (NYSE: EFX), Axcelis Technologies (Nasdaq: ACLS), Confluent (Nasdaq: CFLT), New York Times (NYSE: NYT), Adient (NYSE: ADNT), Annaly (NYSE: NLY), ASGN (NYSE: ASGN), Berry Global Group (NYSE: BERY), Black Hills Corp (NYSE: BHK), Carlyle Group (Nasdaq: CG), CoreCivic (NYSE: CXW), Coty (NYSE: COTY), Dayforce (NYSE: DAY), Encompass Health (NYSE: EHC), EnerSys (NYSE:ENS), Envista (NYSE: NVST), Everest Group (NYSE: EG), First American Financial (NYSE: FAF), FleetCor (NYSE: FLT), Globe Life (NYSE: GL), GoPro (Nasdaq: GPRO), Green Plains (Nasdaq: GPRE), Griffon (NYSE: GFF), Hain Celestial (Nasdaq: HAIN), Kennametal (NYSE: KMT), Knowles (NYSE: KN), MasterCraft (Nasdaq: MCFT), MKS Instruments (Nasdaq: MKSI), Molina Healthcare (NYSE: MOH), Monolithic Power (Nasdaq: MPWR), Murphy USA (NYSE: MUSA), NETGEAR (Nasdaq: NTGR), Omega Health (NYSE: OHI), O'Reilly Automotive (Nasdaq: ORLY), Paycor (Nasdaq: PYCR), Penske Automotive Group (NYSE: PAG), Performance Food Group (NYSE: PFGC), Radian Group (NYSE: RDN), Radware (Nasdaq: RDWR), Reynolds Consumer Products (Nasdaq: REYN), Silicon Labs (Nasdaq: SLAB), TechTarget (Nasdaq: TTGT), TTM Technologies (Nasdaq: TTMI), Vishay Intertechnology (NYSE: VSH).

Notable IPOs Today: American Healthcare REIT (NYSE: AHR).

Notable Equity Crowdfunding Campaigns Ending Today: ZenniHome (Wefunder).

Notable Economic Events Today: Trade Balance / Imports / Exports (8:30 a.m. ET), Atlanta Fed GDPNow (11:30 a.m. ET), Consumer Credit (3:00 p.m. ET).

Ford's Supplemental Dividend

Shares of Ford (NYSE: F) jumped 6.30% in after-hours trading on Tuesday after the automobile giant posted better-than-expected financial results.

Powering the Story: In addition to its normal quarterly dividend of 15 cents per share, Ford is giving its shareholders an extra supplemental, one-time dividend of 18 cents per share.

Final Thoughts: While Ford’s EV business is struggling, the other business units performed well in the last quarter. The stock is down 10% in the last 12 months.

New Sports Streaming Service Announced

ESPN, which is part of Disney (NYSE: DIS), along with Fox (Nasdaq: FOX) and Warner Bros Discovery (Nasdaq: WBD) announced a new joint streaming venture for sports that will launch this fall.

Final Thoughts: Fox and Warner Bros Discovery ticked up in after-hours trading, while Disney slipped. FuboTV (NYSE: FUBO) fell 8%. This new service could shake up the industry.

Junk in the Trunk: Moody’s Cuts NYCB to Junk, Extending Sharp Decline in Shares (Wall Street Journal)

Thank you for reading!

Forward to a friend and tell them to sign up here.

Want more investing tips? Listen to the podcast.

Show Your Support: Buy Me a Coffee.

Questions or comments? Hit reply to reach out.