Quarterly cross and delight for the index of technology stocks. Less than an hour after opening on Wall Street, the stock of Snapchat drops 19% on Nasdaq at 11,45 dollars (after even touching -21%) after publishing accounts that have bitterly disappointed investors.
Not only that, according to estimates, the data for the second quarter (April-June) could be even worse than those just released, an eventuality that is causing a veritable rain in sales.
In detail, in the first three months of 2018, Snapchat recorded revenues of 230,7 million dollars against the 244,9 million expected by analysts. Losses per share were $0,17 versus $0,16 market expectations. The number of daily active users was also below expectations, settling at 191 million compared to the 194,3 million expected.
However, “technological” investors can console themselves with the performance of Apple, on the shields after an excellent quarterly e the announcement of a guinness buyback: the amount is equal to 100 billion dollars. Cupertino stock currently gains 4,24% to $176,27, supporting the entire stock as it climbs 0,2% against -0,2% in the Dow Jones and -0,16% in the S&P 500 .
Recall that on Wall Street, investors' attention is currently focused on Federal Reserve which at 20.00 (Italian time) will announce the decisions on interest rates. The market expects rates to remain at 1,5-1,75%, but what arouses curiosity is the "tone" and language" that the American central bank will use in tonight's statement. Since there is no press conference, stock market operators will only have to read in detail a document that could contain "hawkish" words.
