Boeing met with aircraft leasing firms and financiers in New York as the grounding of its popular 737 Max planes drags on with no clear timeline for getting the planes back in...Aerospace & Defenseread more
Amazon workers in Minnesota and Germany are striking as Prime Day kicks off, in a stand against working conditions and wage practices. The action in Minnesota represents the...Retailread more
Treasury Secretary Steven Mnuchin is raising red flags ahead of Facebook's proposed cryptocurrency launch.Marketsread more
Epstein is accused of sexually exploiting dozens of underage girls from 2002 through 2005 at his New York and Florida residences. He is a former friend of Presidents Donald...Politicsread more
When you think of Prime Day, you might be thinking about deals on Instant Pots and Amazon Echo devices — not half-off dresses and designer heels. But the market for apparel...Retailread more
David Marcus, the head of Facebook's digital currency project, said the company expects Libra will drive more advertising revenue for the company.Technologyread more
Some White House officials expect the Cabinet secretary, who has known the president for years, to depart as soon as this summer.Politicsread more
"The important thing is that you shouldn't try to hit homeruns this week, because you're much more likely to end up striking out," Jim Cramer says.Mad Money with Jim Cramerread more
Reps. Ilhan Omar, Ayanna Pressley, Alexandria Ocasio-Cortez and Rashida Tlaib said Trump challenged them personally because he was not able to defeat them on the policy level.Politicsread more
A financial disclosure made by lawyers for Jeffrey Epstein, a former friend of presidents Donald Trump and Bill Clinton, reveals he has nearly $560 million in assets.Politicsread more
Both companies report earnings on Aug. 8, so the CBS and Viacom boards have set that as a natural deadline to agree to a merger. Price won't be discussed by the companies...Technologyread more
Facebook could make a bid for Snapchat's parent at the right price, one Wall Street analyst said on Thursday.
FBN Securities initiated coverage on Snap Thursday, and analyst Shebly Seyrafi said Facebook would love to buy the company for at least $20 billion or $14 a share.
"Remember that (Facebook) paid $21.8 (billion) for WhatsApp, a company which, although it had more users than SNAP, was not generating any real revenue," FBN's Seyrafi said in a note, giving Snap a "sector perform" rating and price target of $23.
Seyrafi said Facebook already tried to acquire Snap for $3 billion in 2013, and the company has the balance sheet and cash flow to finance the deal.
Seyrafi also commented on Snap's strong presence in 12-24 year age demographic, and said Snap has been "highly innovative so far."
Snap has had mixed reactions from Wall Street and has yet to receive a "buy" rating from any analyst listed in FactSet.
Needham - Underperform (Sell)
Atlantic Equities - Underweight (Sell)
Morningstar - (Sell)
Aegis - (Hold)
Susquehanna - (Hold)
Nomura Instinet - Reduce (Sell)
Pivotal Research - (Sell)
CFRA Research - (Sell)
FBN Securities - Sector Perform
Snap surged 44 percent last Thursday from its IPO price of $17 per share, closing at $24.48. The stock surged again on Friday. On Monday and Tuesday, Snap's stock pulled back sharply.
Shares of the parent company behind the popular messaging app Snapchat turned positive Wednesday after billionaire hedge fund manager David Tepper said he bought shares of Snap during last week's initial public offering.
"My youngest daughter loves the thing. Anybody between 12 and 25 loves it," the Appaloosa Management founder said on CNBC's "Squawk Box" Wednesday. "It's kind of anti-Facebook in that generation, too. "
(Disclosure: CNBC parent NBCUniversal is an investor in Snap.)