Snap Inc. set to price IPO at $17 per share

Snap Inc. today announced the pricing of its initial public offering of 200,000,000 shares of Class A common stock at a price to the public of $17 per share, for a total offering size of $3,400,000,000. Snap is issuing and selling 145,000,000 shares of Class A common stock and the selling stockholders are selling an additional 55,000,000 shares of Class A common stock.

Their raising 24  billion dollars for a company that doesn't make any money yet. Although it does have revenues. Pricing is twice the p/e for facebook. Potentially in play on the opening momentum. Millennials love it so well see were it goes.

Dow Jones Industrials cross the 20k milestone

The Dow finally crosses after several failed attemtps. Next stop suspected is 21k - Its a good time to be a trader with the new #Trump admisistration

Some stocks were trading on the desk today:

- $TSLA
- $NFLX
- $AMD
- $NVDA

Stocks were watching on the desk today

$IIIN Insteel Industries Inc.  will replace Littelfuse in the S&P SmallCap 600 after the close of trading on Monday, November 28. - Trading unchanged with the $SPX Futures off $6

$BAC $C: Watching for a minus to plus play for longs and continued follow thru on post election multi year highs.

$NTNX; Green pre market - Pure Storage, Nutanix among tech M&A targets, Barron's says
Tech newcomers Pure Storage $PSTG, Nimble Storage $NMBL and Nutanix  $NTNX look like possible M&A targets for bigger firms searching for growth and innovation, Barron's contends in a 'Technology Trader' column. Potential buyers of the three companies include HP Enterprise (HPE) and Cisco $CSCO, the publication says. Barron's also names Splunk $SPLK, Veeva $VEEV, Atlassian $TEAM, ServiceNow $NOW, Box $BOX, Rapid7 (RPD), Twilio $TWLO, BlackLine $BL and Impinj $PI as possible takeout targets.

$FCX #Copper futures traded at an extended multi year high overnight $2.75/lb

Microsoft Trades at Dot Com Bubble Levels - All Time Highs

This is a very good thing for the NASDAQ and overall markets. The last time Softee was at these levels was the peak of my trading career at the end of the gogo 90's. I own a Surface Pro and will definitely be looking forward to the launch of the PRO 5. Their earnings had a size-able beat due to the continued loyalty by big business to their office suite, and developing cloud business.

Pre market range $60.11 to 60.48. Last night ALL TIME HIGHS of $60.75 look to be taken

Disclosure: Long $MSFT

Analyst Action:

Microsoft results point to 'successful' mobile cloud strategy, says Oppenheimer 

Following another "strong" quarter, Oppenheimer analyst Timothy Horan says Microsoft's results point to a "successful" mobile cloud strategy which is set to overlay artificial intelligence and may become a dominant full service cloud/communication service for enterprises. Further, the analyst believes multiple recent partnerships and customer wins as well as the pending release of SQL for Linux in the cloud should help drive solid growth over the next few years. He reiterates an Outperform rating and $62 price target on the shares.