Snap shares plummet as user growth stalls

Snap, the parent company of disappearing-message app Snapchat, plunged 14 percent to $11.83 Friday after reporting weak user growth and a wider loss than analysts were expecting.

August 13, 2017 at 4:07AM
This Tuesday, May 2, 2017, photo shows Macy's corporate signage at its flagship store in New York. Macy's Inc. reports earnings, Thursday, Aug. 10, 2017. (AP Photo/Bebeto Matthews)
Department stores, such as Macy’s, saw key sales figures fall again in the latest quarter. (The Minnesota Star Tribune)

Earnings miss: Snap, the parent company of disappearing-message app Snapchat, plunged 14 percent to $11.83 Friday after reporting weak user growth and a wider loss than analysts were expecting.

Shop slump: Macy's shares dropped 8.8 percent to $21 and Kohl's tumbled 7.2 percent to $38.92 Thursday as the department store companies reported a drop in quarterly same-store sales, stoking concerns that their turnaround may still be a long way off. Macy's closed Friday at $20.62; Kohl's finished at $38.64.

Fashionable results: Ralph Lauren shares rose 9.8 percent to $85.77 Tuesday after the luxury apparel marker reported better-than-expected quarterly profit and sales helped by a tight leash on discounting and inventory. Shares closed the week at $83.78.

In a skid: Avis Budget Group slumped 6.4 percent to $31.26 after the car rental company cut its guidance following a weak second quarter hurt by price pressure and higher fleet costs. Shares closed Friday at $34.79.

Tough comps: Priceline Group dropped 8 percent to $1891.20 Wednesday after warning that financial results for the remainder of the year may have trouble keeping pace with an unusually strong second half of 2016. Shares closed Friday at $1,854.17.

Carnival of carnivores: Tyson Foods gained 4.4 percent to $66.09 Monday as its forecasts pleased investors, reflecting higher prices on beef, pork and chicken and rising global demand for meat. Shares closed Friday at $65.55.

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Paul Samuelson in his office at the Massachusetts Institute of Technology in Cambridge, Mass., in a Sept. 3, 2004 file photo. Samuelson, the first American Nobel laureate in economics and the foremost academic economist of the 20th century, died Sunday, Dec. 13, 2009, at his home in Belmont, Mass. He was 94.