Snap sinks on huge miss, Whole Foods' new strategy, Verizon snatches Straight Path from AT&T

Here’s a look at some of the stocks the Yahoo Finance team will be tracking for you today.

Snap (SNAP) shares are sinking this morning after the parent company of the popular messaging app Snapchat reported a worse-than-expected $2.2 billion loss in its first quarterly report as a public company as user growth stalled.

Straight Path Communications (STRP) shares plunged in early trading following news that Verizon (VZ) outbid AT&T (T) to buy the 5G telecom firm in a deal valued at about $3.1 billion. Even though Verizon’s offer is almost double AT&T’s bid, the $184 per share price tag is still significantly below Straight Path’s closing price Wednesday of just under $224 a share.

Merck (MRK) shares rose this morning after the FDA approved its cancer drug Keytruda for use with chemotherapy for patients with lung cancer.

Yum Brands (YUM) stock got a nice pop In early trading after Goldman Sachs lifted its rating on the fast-food chain to neutral from sell and raised its price target to $65 a share. The investment firm said the upgrade is based in part on the strong performance of its Taco Bell brand in the first quarter.

Whole Foods (WFM) shares gained ground after the troubled grocery chain announced it’s replacing five directors and named a new chair of the board and a new CFO. That news came as the company reported earnings and revenue that met estimates. It also raised its quarterly dividend by 29% and announced a new 1.25 billion stock buyback. CEO John Mackey is under pressure by activist investor Jana Partners to consider selling the company.