Snap Inc (SNAP) - Get Report stock fell about 1% in premarket trading after Cowen analyst John Blackledge cut the company's rating to "market perform" from "outperform."

Blackledge said ad revenue through 2022 will suffer as Snap faces competition within digital advertising. He added that monetization efforts are "taking longer to play out."

Blackledge cut his price target to Snap's IPO price of $17, down from $21. Snap's stock price has crumbled over 35% since the company's IPO, closing at $15.69 Thursday.

Cowen follows in the footsteps of fellow underwriter Morgan Stanley, which last week cut its rating for the Venice, Calif.-based camera company to "equal weight" from "overweight" with a price target of $16.

On Friday morning, Snap's shares were up 0.9% to $15.38.

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More issues for food makers: As if food makers such as Kraft Heinz (KHC) - Get Report and grocery retailers like Kroger (KR) - Get Report and Walmart (WMT) - Get Report didn't have enough issues on their plate thanks to Amazon's (AMZN) - Get Report advances.

A significant demographic headwind could add further pressure on the packaged food and grocery store sectors in the years ahead, according to Wolfe Research analyst Scott Mnushkin. The U.S. government reported recently that the fertility rate in the U.S. (births per 1,000 women) hit a record low of 62.0 in 2016, with the number of births down about 1% from the prior year. With births declining and immigration slowing, population growth in the U.S. has stalled.

For the aforementioned sectors, Mnushkin points out, it's critical households are formed in order for demand to materialize. The fact that's not happening at a decent clip is troublesome.

All eyes on Apple's iPhone 8, per the usual: Barclays analyst Mark Moskowitz is not buying the projected "super cycle" in Apple's (AAPL) - Get Report stock after the tech titan releases its highly anticipated iPhone 8 later this year. Amid reports that the highly anticipated smartphone may not include wireless charging, enhanced 3D technology, or Touch ID, Moskowitz contends that the phone's OLED display, the lone headline feature, won't be enough to convince consumers to upgrade.

"With OLED, we struggle to see the incremental benefits visually that would inspire a customer to replace an adequately-performing device," he noted.

Hard to argue with this one: Count Foursquare co-founder and executive chairman Dennis Crowley among the big fans of Amazon's surprise move to acquire Whole Foods (WFM) for $13.7 billion in mid-June.

Crowley, who built the location intelligence company into a service with 50 million monthly active users across its two apps since founding the company in 2009, spoke with TheStreet'S Natalie Walters at the company's hip headquarters in Soho, New York.

"I can see what Amazon is trying to do there," Crowley said. "I think it's super brilliant." As for what Crowley is up to at FourSquare right now, check out TheStreet this weekend.

Apple is a holding Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL? Learn more now.

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