Brooke Sutherland is a Bloomberg Gadfly columnist covering deals. She previously wrote an M&A column for Bloomberg News.

Good morning! This is Fly Charts, the daily charts-only newsletter from Gadfly; sign up here. From United Technologies egging on activists to TripAdvisor setting the stage for a takeover, here are four charts that tell you what you need to know in business today. 

Never Mind
Wall Street can't figure out what to make of Snapchat. Morgan Stanley halved its initial price target in the latest sign of doubt over the company's more niche approach to social media.
Source: Bloomberg
Quite a Trip
TripAdvisor shares are trading around their lowest level in four years. Changes to its executive-severance plan suggest it may be laying the groundwork for a takeover.
Source: Bloomberg
Not Good, But Better
Express's second-quarter results showed the struggling retailer still has some fight in it. Comparable sales were down, but were sequentially better.
Source: Bloomberg
Buy High
United Technologies' M&A hunt deserves activist scrutiny. What challenges is it trying to distract from by bidding for Rockwell Collins at peak valuations?
Source: Bloomberg

And don't miss Chris Bryant on cuddlier Ryanair's political unfriendliness: "Ryanair’s image as a labor-scourge is unhelpful because it finally seems like Europe’s fragmented airline market is poised for consolidation: Air Berlin and Alitalia SpA may not be the last airlines in need of restructuring. But when jobs are at risk, Ryanair’s argument that it should be allowed to expand further is likely to fall on deaf ears.''

This column does not necessarily reflect the opinion of Bloomberg LP and its owners.

To contact the author of this story:
Brooke Sutherland in New York at bsutherland7@bloomberg.net

To contact the editor responsible for this story:
Beth Williams at bewilliams@bloomberg.net