Snap Inc. stock lost nearly a third of its value in one day after the social media company posted disappointing third-quarter results late Thursday. Snap (NYSE: SNAP) shares plummeted 32% to a 52-week low of $7.33 a share Friday morning before ending the day at $7.76 a share, down 28% from Thursday’s closing price. The Santa Monica, California-based company released third-quarter results after the close of New York markets Thursday showing a wider loss than a year ago and a slower-than-expected revenue growth. Read More...
Motley Fool
Why Boston Beer Popped on Friday
Shares of Sam Adams brewer The Boston Beer Company (NYSE: SAM) popped their top on Friday, surging 17.6% through 1 p.m. ET after beating earnings last night. Expected by Wall Street analysts to earn a pro forma profit of $3.07 per share on sales of $567.8 million, Boston Beer instead ended up earning $2.21 per share when calculated according to generally accepted accounting principles (GAAP). Plus $1.61 per share in non-cash impairment charges, that equals $3.82 per share, pro forma, with sales coming in at $596.5 million.
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