Right now on fast snap crackle drop snap shares plummeting falling over 25% after hours

a big time miss and they're just low hiring the numbers and the ripple effects straight

ahead from snaps slump to summer sizzle big chunks of the market are surging this month

from semis to casinos to high growth tech and even housing will look at where the charts

say we should go next and later investors hanging up on AT&T options action in Verizon

and tongues are wagging over the recent run in Chewy I'm Courtney Reagan in this evening

formalistically this is fast money live from the Nasdaq market site in the heart of time

square on deck tonight Tim Seymour Karen Feierman Guy Dami and Steve Grasso but we start with

an earnings alert on snap shares plummeting as the social media company misses on the top

and the bottom line to remember the company already warned about the quarter just weeks

after it's last earnings report so let's bring in CNBC's Julia Borsten for more details on this

quarter hi Julia well Courtney is not just that they missed on the top and bottom line revenue

growth so far in the third quarter was flat with the year ago period that's compared to the 18

percent revenue growth that analysts expected for Q3s also down from the 13 percent growth they

reported for this quarter and as you mentioned all of this is after the company had already lowered

its growth forecast for the quarter you see shares are now down 26 percent all of that news

overshadowing better than expected user growth and the company added 15 million DA use in the

quarter and guided to better than expected user growth in the third quarter to end Q3 with

360 million DA use now snaps weakness is really dragging other social stocks down with it on

concerns of course about the macro economic issues meta shares down about 5 percent alphabet

shares off about 3 percent and Pinterest shares down about 7 percent see snap CEO Evan

Spiegel saying quote were not satisfied with the results we are delivering regardless of the

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