In this report, we briefly review six current drivers of SNAP’s direct response (DR) ad revenue growth, and five that could potentially contribute more in 2024. We also preview SNAP’s NewFront presentation tomorrow night, and update our model for last week’s earnings results, which result in our target increasing to $18 from $17 due to higher estimates and a higher target valuation.
American Assets Trust, Inc. Reports First Quarter 2024 Financial Results Net income available to common stockholders of $19.3 million for the first quarter, or $0.32 per diluted share. Funds from Operations ("FFO") per diluted share increased 8% year-over-year for the first quarter to $0.71 per diluted share. Increased 2024 FFO per diluted share guidance to a range of $2.24 to $2.34 with a midpoint of $2.29, a 1% increase over prior guidance. SAN DIEGO, April 30, 2024 (GLOBE NEWSWIRE) -- American Assets Trust, Inc. (NYSE: AAT) (the ...
Great Elm Capital Corp. (“GECC”) Schedules First Quarter 2024 Earnings Release and Conference Call Conference Call Scheduled for Thursday, May 2, 2024 at 5:00 p.m. ET PALM BEACH GARDENS, Fla., April 30, 2024 (GLOBE NEWSWIRE) -- Great Elm Capital Corp. (the “Company” or “GECC”), (NASDAQ: GECC), a business development company, today announced it will release its financial results for the first quarter ended March 31, 2024 after the close of market trading on Thursday, May 2, 2024, and discuss these results in a conference call at 5:00 p.m. ET. Date/Time:Thursday, May 2, 2024 – 5:00 p....
SAN FRANCISCO--(BUSINESS WIRE)-- Wells Fargo & Company (NYSE: WFC) today announced its board of directors approved a quarterly common stock dividend of $0.35 per share, payable June 1, 2024, to stockholders of record on May 10, 2024. This press release features multimedia. View the full release here: Wells Fargo Bank branch located in the Wells Fargo Center (Photo: Wells Fargo) About Wells Fargo Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets. We provide a diversified set of banking, investment and mortgage products an...
SAN FRANCISCO--(BUSINESS WIRE)-- Wells Fargo & Company (NYSE: WFC) announced today that its shareholders elected as directors the 13 nominees named in the company’s proxy statement, including a new independent director: Fabian T. Garcia. Upon his election, Garcia was appointed to the Board’s Finance Committee. This press release features multimedia. View the full release here: Wells Fargo Bank branch located in the Wells Fargo Center (Photo: Wells Fargo) “I look forward to working with Fabian and the rest of the Board as we continue to transform Wells Fargo,” said Wells Fargo CEO Charlie Scha...
In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.
What’s New: In this first take following tonight’s results, we touch on: 1. Broad-based ad growth, and 85% SMB advertiser growth sticks out 2. Engagement metrics hold steady, keeping the biggest risk to the stock at bay 3. Snapchat+ now at 9M subscribers, nicely ahead of our 8.6M estimate for 1Q24 4. My AI and generative AI features lightly highlighted 5. 2024 non-GAAP expense guidance also given for the first time. 6. Timely share repurchases continue as SNAP better manages the share count
DES MOINES, Iowa--(BUSINESS WIRE)-- Wells Fargo Home Lending announced today the expansion of its $10,000 Homebuyer Access grant program to additional communities in the eight metropolitan areas where the program was launched in 2023. The program also will be expanded to additional eligible areas in New Jersey. This press release features multimedia. View the full release here: (Graphic: Wells Fargo) “We are expanding the availability of our Homebuyer Access grant program to additional areas to provide greater opportunities that empower Black and Hispanic homebuyers,” said Kevin Reen, head of...
SEATTLE--(BUSINESS WIRE)-- (NASDAQ: RDFN) — On the west coast of Florida, housing supply is surging, sellers are cutting their asking prices and the time it takes to sell a home is soaring—all at a faster rate than anywhere else in the U.S. The story is similar in parts of Texas. That is according to a new from Redfin (), the technology-powered real estate brokerage. Here’s how these trends showed up in U.S. housing-market data for March, which covers 85 major metropolitan areas: SUPPLY: Of the 10 metro areas that posted the largest year-over-year increases in supply, six are in Florida ...
SEATTLE--(BUSINESS WIRE)-- (NASDAQ: RDFN) —The median U.S. home-sale price hit a record $383,725 during the four weeks ending April 21, up 5.2% from a year earlier—one of the biggest jumps since October 2022. That’s according to a new from Redfin (), the technology-powered real estate brokerage. The average weekly mortgage rate hit 7.1% this week, its highest level since November 2023, as it became clear the Fed would keep interest rates high longer than expected. High prices and mortgage rates drove the median monthly housing payment to a record $2,843, up 13% year over year. Prices are ...
FISHERS, Ind.--(BUSINESS WIRE)-- First Internet Bancorp (the “Company”) (Nasdaq: INBK), the parent company of First Internet Bank (the “Bank”), announced today financial and operational results for the first quarter ended March 31, 2024. First Quarter 2024 Financial Highlights Net income of $5.2 million and diluted earnings per share of $0.59, increases of 25.1% and 22.9%, respectively, from the fourth quarter of 2023 Net interest income of $20.7 million and fully-taxable equivalent net interest income of $21.9 million, increases of 4.7% and 4.2%, respectively, from the fourth quarter ...
SEATTLE--(BUSINESS WIRE)-- Redfin Corporation (NASDAQ: RDFN) will release first-quarter 2024 results after the stock market closes on Tuesday, May 7, 2024. The company will host a live webcast of its conference call to discuss the results at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time. Participants may access the live webcast on Redfin's Investor Relations website at . About Redfin Redfin () is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, title insurance, and renovations services. We run the country's #1 real estate bro...
SEATTLE--(BUSINESS WIRE)-- (NASDAQ: RDFN) — Nearly two of every five (38%) homeowners don’t believe they could afford to buy their own home if they were purchasing it today, according to a new from Redfin (), the technology-powered real estate brokerage. This is based on a Redfin-commissioned survey of roughly 3,000 U.S. residents conducted by Qualtrics in February 2024. Nearly three in five (59%) homeowners who answered this question have lived in their home for at least 10 years, and another 21% have lived in their home for at least five years. That means the majority of respondents hav...
SEATTLE--(BUSINESS WIRE)-- (NASDAQ: RDFN) — U.S. home prices climbed 0.6% from a month earlier on a seasonally-adjusted basis in March, matching February’s 0.6% month-over-month gain, according to a new from Redfin (), the technology-powered real estate brokerage. On a year-over-year basis, prices rose 7.3%, also little changed from the prior month’s 7% annual increase. This is according to the Redfin Home Price Index (RHPI), which uses the repeat-sales pricing method to calculate seasonally adjusted changes in prices of single-family homes. The RHPI measures sale prices of homes that sol...
What’s New: Ahead of Thursday PM’s earnings report, we review key controversies for SNAP, including: 1. Traction of SNAP’s direct response ad tech changes, and the trajectory of ad revenue growth. 2. Engagement levels in the North America, where deterioration is the most important risk this quarter. Also: can Global DAU growth hold +10%? 3. Flow through of the 10% headcount reduction in 1Q24, both on adjusted EBITDA margins and stock-based compensation. 4. We check in on SNAP’s non-advertising r...
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