Fourth time is a charm for Snap. Shares soared over 45% after finally delivering an earnings report that impressed Wall Street. Daniel Ives, Chief Strategy Officer at GBH Insights, joined to discuss the report, as well as earnings results from Chipotle and Disney. Snap shocked Wall Street after posting revenue of $285.7 million. Ives said it's the first step in the right direction toward a turnaround story. If Snap can get its act together, he can see it being a low-to-mid $20 stock. Ives said one quarter doesn't make a trend and that it's a huge "prove me" period for Spiegel and company to show that the turnaround is for real. Disney announced it will price ESPN Plus, the company's first direct-to-consumer streaming service, at $4.99 per month. He said the new service, along with the deal for 21st Century Fox, will make the company a legitimate streaming player. Chipotle continues to struggle to win back customers after the food-borne illness outbreaks. If Chipotle's stock falls another 15%-25%, Ives said it would be an attractive takeover target.

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Small grocers and convenience stores feel an impact as customers go without SNAP benefits
Some small grocery stores and neighborhood convenience stores are eager for the U.S. government shutdown to end and for their customers to start receiving federal food aid again. Late last month, the Trump administration froze funding for the SNAP benefits that about 42 million Americans use to buy groceries. The U.S. Department of Agriculture says about 74% of the assistance was spent last year at superstores like Walmart and supermarkets like Kroger. Around 14% went to smaller stores that are more accessible to SNAP beneficiaries. A former director of the United Nations World Food Program says SNAP is not only a social safety net for families but a local economic engine that supports neighborhood businesses.
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