There is no end in sight to the Boeing 737 Max grounding after two fatal crashes, prompting airlines to rethink their growth plans.Airlinesread more
Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
After a year of flooding, Midwest farmers face a stifling heat wave that's spreading across the U.S.Agricultureread more
A quarter of the S&P 500 companies report earnings next week, and that could buffet the market as investors await the July Fed meeting.Market Insiderread more
Iran's Revolutionary Guard claims a British tanker it still holds, Stena Impero, failed to follow international maritime rules.World Newsread more
Moving lots of data to a public cloud over the internet can take months or years. CNBC got an inside look at how AWS transfers data to the cloud for its clients.Technologyread more
"It troubles me that the most important political office in the world is becoming the face of racism and exclusion," Kaeser said in a Twitter post.Politicsread more
CoinShares Chief Strategy Officer Meltem Demirors discusses Facebook's Libra project and its impact on the cryptocurrency market after testifying to the House Financial...Fast Moneyread more
Some 40% of Americans would struggle to come up with even $400 to pay for an emergency expense. Just how are so many Americans so short on cash? Blame debt.Personal Financeread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
The president also said he "offered to personally vouch" for Rocky's bail. Sweden, however, does not have a bail system.Politicsread more
Evan Spiegel, CEO of Snapchat's parent company, Snap, has had a very good week.
As of Thursday's close, Spiegel had made just over $2 billion only a week after the social media company went public.
According to the company's prospectus, Spiegel owns 210,970,819 shares of Snap, valuing his stake at $3.586 billion at the time of the IPO. Snap priced its shares at $17.
The value of his stake had shot up to $4.791 billion by Thursday's close. Spiegel also received an $800 million bonus for taking the company public.
Snap's first week of trading has not been the smoothest, however. After rising 44 percent and 10.6 percent in its first two days of trading, respectively, the stock dropped 12.3 percent and 9.8 percent in its next two days.
Snap shares since IPO
Several Wall Street analysts initiated coverage of the stock with a sell rating, while only a few initiated the stock with a neutral rating, citing valuation and growth concerns.
"I consider myself cautiously optimistic on the company; the stock is just overvalued," said Brian Wieser, an analyst at Pivotal Research Group. Wieser initiated Snap with a sell last week and a price target of $10, representing more than 50 percent downside potential.
"There's certainly a 'Myspace risk' there," he said, meaning the company runs the risk of becoming too commercialized. "After Myspace was acquired by News Corp., they were too aggressive in commercializing and that turned off a lot of users."
He also noted that Snapchat is mostly popular among people ages 12 to 24. When it went public, "Twitter was a niche platform used by a group of different ages across the globe. Snap's platform use is highly dependent on one age group. "