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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Richard Tsong-Taatarii/The Minnesota Star Tribune

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