SNOW Plow
Live Blog Update #1 Published
Snowflake (NYSE:SNOW | SNOW Price Prediction) delivered a Q1 report that is turning heads, posting product revenue of $1.33 billion and product gross profit of $947.5 million, while GAAP operating loss came in at $326.2 million and GAAP EPS of -$0.86. Alongside the numbers, the cloud data platform announced a $6 billion, five-year commitment to Amazon Web Services and formalized a multi-year strategic collaboration with AWS centered on accelerating enterprise agentic AI adoption. The partnership is already generating traction, with customers including Fetch and Hex actively deploying AI applications on the Snowflake platform. Snow stock is soaring by 35% today.
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Mortgage rates ticked higher again this week, reaching their loftiest level since August and adding another headwind to an already strained housing market. The average rate on a 30-year fixed mortgage climbed to 6.53%, up from 6.51% the prior week, according to Freddie Mac, arriving at a nine-month high during what is traditionally the most critical stretch of the year for home sales.
The Nasdaq Composite has turned higher, up 0.77% on the day.
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Nebius Group (Nasdaq: NBIS) stock is soaring by 8% today on the heels of an impressive earnings print in which revenue soared by a triple-digit percentage. The company also clinched a multi-billion-dollar contract with Meta Platforms (Nasdaq; META), helping to buoy sentiment even further.
Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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