markets

Claire Yubin Oh12/4/25

Snowflake sinks as weak margin forecast overshadows Q3 beat

Snowflake is down 9% in premarket trading on Thursday after the cloud company gave an operating margin outlook that fell short of analyst expectations, reflecting investors’ worries about the profitability of new AI-based products.

The company now expects its adjusted operating income margin for the three months ending in January to come in around 7%, lower than the 8.5% projected by analyst data compiled by Bloomberg. Snowflake also sees product revenue of about $1.2 billion for the coming quarter.

Despite the softer outlook, Snowflake’s most recent quarter was a pretty solid one, with Q3 revenue jumping 29% year over year to $1.21 billion (2% ahead of consensus estimates), driven by higher product revenue, on which CEO Sridhar Ramaswamy commented in a press release that “Snowflake Intelligence, our enterprise AI agent, saw the fastest adoption ramp in Snowflake history.” Earnings also beat, with adjusted earnings per share coming in at at $0.35, 13% ahead of estimates.

The stock’s drop shows how “the bar was high” for Snowflake going into earnings, according to BNP Paribas analyst Stefan Slowinski, as investors had high hopes for the company that rose nearly 70% this year even when rival stocks slumped amid fears of AI disruption.

On Wednesday, the company also announced a $200 million multiyear deal with Anthropic that would make the AI startup’s Claude model available within the Snowflake data environment to more than “12,600 global customers across Amazon Bedrock, Google Cloud Vertex AI, and Microsoft Azure.”

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Meet the newly public, Bezos-backed company that’s recreating the sun and stars

General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

Web Summit Vancouver 2026 - Day Three

markets

J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

Floridians Seek Employment Opportunities At Job Fair In Sunrise

Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

markets

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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