Millennium TVP Management Co., LLC Buys Spotify Technology SA, Sells Facebook Inc

New York, NY, based Investment company Millennium TVP Management Co., LLC buys Spotify Technology SA, sells Facebook Inc during the 3-months ended 2018-06-30, according to the most recent filings of the investment company, Millennium TVP Management Co., LLC. As of 2018-06-30, Millennium TVP Management Co., LLC owns 6 stocks with a total value of $110 million. These are the details of the buys and sells.

New Purchases: SPOT, Reduced Positions: CHGG, RNET, Sold Out: FB,

For the details of Millennium TVP Management Co., LLC's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Millennium+TVP+Management+Co.%2C+LLC

These are the top 5 holdings of Millennium TVP Management Co., LLCChegg Inc (CHGG) - 1,353,007 shares, 34.27% of the total portfolio. Shares reduced by 13.54%Sunrun Inc (RUN) - 2,037,971 shares, 24.43% of the total portfolio. Alibaba Group Holding Ltd (BABA) - 138,155 shares, 23.36% of the total portfolio. Spotify Technology SA (SPOT) - 104,433 shares, 16.01% of the total portfolio. New PositionTelaria Inc (TLRA) - 368,034 shares, 1.36% of the total portfolio. New Purchase: Spotify Technology SA (SPOT)

Millennium TVP Management Co., LLC initiated holding in Spotify Technology SA. The purchase prices were between $143.99 and $180.94, with an estimated average price of $159.94. The stock is now traded at around $179.71. The impact to a portfolio due to this purchase was 16.01%. The holding were 104,433 shares as of 2018-06-30.

Sold Out: Facebook Inc (FB)

Millennium TVP Management Co., LLC sold out a holding in Facebook Inc. The sale prices were between $155.1 and $202, with an estimated average price of $180.53.

Here is the complete portfolio of Millennium TVP Management Co., LLC. Also check out:

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A long-time bull debunks 'peak earnings' fears, sees strong year-end rally

Long-time bull Art Hogan sees holes in the "peak earnings" argument.

According to the B. Riley FBR chief market strategist, earnings growth on a year-over-year basis will crest this year �� but that doesn't mean it's as good as it gets for investors. He believes the economic picture supports the case for a fresh round of strong numbers that will drive stocks to record highs.

"Earnings growth is going to continue. It's just difficult comps versus 2018," Hogan said Wednesday on CNBC's "Trading Nation."

As of Wednesday's market close, Thomson Reuters reports 81 percent of second-quarter earnings reports have come in above estimates. Since 1994, an average of 64 percent of companies beat estimates.

The long-time bull acknowledges the latest earnings have vastly benefited from the 2017 one-time corporate tax cut. But that's no reason to second-guess the bull market, he said.

"Obviously, we've had great earnings in 2018 thus far," Hogan said.

His year-end S&P 500 target is 3,000, up more than 6 percent from current levels or 4 percent from its all-time high hit on Jan. 26.

Hogan is citing more than just strong earnings as his a chief catalyst. He believes the Trump administration will use midterm elections as a reason to end the trade war, in turn easing uncertainty on Wall Street.

"Right now, we're just pricing in bad news, and that continues to escalate with China. We're starting to see some cracks and some olive branches being brought forward," Hogan said. "That will start to ease some of the concerns corporate America has about trade and tariffs."

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At Long Last, Facebook Turns on WhatsApp Monetization

It's now been over a year since Facebook (NASDAQ:FB) subsidiary WhatsApp started hiring for a "product manager for monetization," which came a few months before the popular messaging service officially launched WhatsApp Business. The social networking titan has been working on a new monetization model for WhatsApp for several years, after eliminating�the paltry $1-per-year subscription fee in 2016 shortly after acquiring the start-up.

Instead, Facebook wants to monetize WhatsApp (and Messenger) by helping businesses connect directly with consumers, and it just made a big move in that direction.

Image source: WhatsApp.

Charging businesses to connect with you

Facebook�and WhatsApp�today announced the launch of the WhatsApp Business API, which companies can use to manage their conversations with customers at scale. The WhatsApp Business app on Android now has over 3 million users, according to a Facebook blog post.

Using the new suite of tools, businesses can exchange or provide information to customers, make it easier for customers to initiate conversations by integrating a click-to-chat button, and offer real-time support. Users will be able to easily block any business that might be sending too many unsolicited messages.

Business customers will foot the bill, paying anywhere from�0.5 cents to 9 cents per message sent, depending on the geographical market. The great irony there is that WhatsApp's popularity was largely propelled by being incredibly affordable, making the service a very compelling alternative to traditional SMS text messaging in emerging markets, yet now the company's messaging rates will be significantly more expensive than SMS rates, which are usually less than 1 cent per SMS message. Of course, the big difference is that only business customers will have to pay, while the service remains free for users.

WhatsApp argues that charging businesses per message may help ensure that the messages "are selective and your chats don't get cluttered."

Pressure to monetize

The news comes at a tumultuous point in time for WhatsApp, which has seen co-founders Brian Acton and Jan Koum leave Facebook within the past year amid disagreements over data practices.

Facebook CEO Mark Zuckerberg and COO Sheryl Sandberg also reportedly pressured Acton and Koum to "move faster" because Zuck and Sandberg "grew impatient for a greater return" on the blockbuster $22 billion acquisition. It's possible that Facebook is worried about recognizing a goodwill impairment charge, should WhatsApp fail to live up to the lofty financial expectations that inevitably get priced in when you pay roughly 1,000 times sales for a start-up.

As revenue growth slows and costs rise on Facebook's core platform, pinching profitability in the process, the company is increasingly turning to its other properties in an effort to satisfy investors' growth appetites.