David Faber and Leslie Picker led off with the woes hitting social media stocks: Shares of Snap tumbling more than 30% after the Snapchat parent posted its weakest quarterly revenue growth since going public in 2017. At least a dozen Wall Street firms downgraded the stock. Jefferies analyst Brent Thill joined the program and discussed why he's maintaining a "Buy" rating on Snap, as well as his take on Twitter falling after it posted an unexpected quarterly loss. Also in focus: Verizon shares under pressure following a profit miss and lowered guidance, American Express as an earnings bright spot, and the broader markets looking to extend their daily win streak to four. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com
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Squawk on the Street