Shares in Snowflake (SNOW) surged by nearly 8% in pre-market buying and selling after falling 2% within the earlier session. The corporate’s robust outlook, underpinned by rising demand for synthetic intelligence instruments, buoyed the inventory.
The cloud-based information platform beat analysts’ estimates for its first-quarter earnings and issued a income forecast for the present quarter that topped Wall Road expectations.
The corporate’s inventory is now up 16% because the begin of the 12 months.
Snowflake has made a strategic push into AI, partnering with OpenAI and Anthropic to assist clients construct and deploy extra superior fashions. The integrations are aimed toward simplifying how companies handle and interpret massive volumes of knowledge throughout cloud environments.
The corporate additionally continues to profit from rising enterprise spending, as companies more and more shift their information workloads to the cloud and spend money on AI capabilities.
Snowflake stated it expects full-year income to succeed in $4.325bn (£3.224bn), representing a 25% improve from the earlier 12 months.
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“We imagine the bump to full-year income regardless of the macro backdrop illustrates administration’s confidence within the sturdiness of near-term demand,” stated Kirk Materne, an analyst at Evercore ISI, in a observe to shoppers.
Sridhar Ramaswamy, Snowflake’s chief government, stated in a press release: “Our concentrate on making the Snowflake platform straightforward to make use of, to allow fluid entry to information wherever it sits, and trusted for enterprise-grade efficiency, is what makes us differentiated.” He added that the corporate goals to “prolong this worth all through the complete information lifecycle.”
Regardless of reporting a web lack of $430m on a GAAP foundation, Snowflake posted adjusted earnings of 24 cents per share, beating analysts’ consensus of 21 cents.
“We favour [Snowflake] as our prime AI breakout play, with extra significant AI upside within the again half of the 12 months,” stated Brent Thill, analyst at Jefferies, in a observe forward of the earnings report.
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Shares in Nike (NKE) have been barely increased forward of the US opening bell, after dropping 4% on the final session’s shut, because the sportswear big introduced plans to lift costs on chosen merchandise and resume promoting straight on Amazon (AMZN) within the US.
The Oregon-based firm stated the adjustments are a part of its “seasonal planning” technique, and made no reference to ongoing commerce tensions or tariff insurance policies underneath US president Donald Trump, which have upended world provide chains.
From subsequent Sunday, Nike will improve costs on a spread of footwear, clothes and tools. Most footwear priced above $100 (£74.50) will rise by as a lot as $10, whereas attire and equipment will see will increase between $2 and $10. The corporate stated that the favored Air Pressure 1 trainers and footwear priced underneath $100 might be excluded from the hikes, as will youngsters’s merchandise and Jordan-branded clothes and niknaks.
Learn extra: FTSE 100 LIVE: European stocks fall as UK government borrowing jumps to £20.2bn in April
“We repeatedly consider our enterprise and make pricing changes as a part of our seasonal planning,” Nike stated in a press release.
The corporate additionally confirmed it should start promoting merchandise straight on Amazon once more, ending a six-year absence. Nike final partnered with Amazon in 2019 earlier than pulling again as a part of a broader shift towards its personal direct-to-consumer channels.
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Shares in Zoom (ZM) closed decrease and remained in detrimental territory in pre-market buying and selling, regardless of earnings and income beats in its fiscal 12 months 2026 first quarter.
For the three months ended 30 April, Zoom reported adjusted earnings per share of $1.43, up from $1.35 a 12 months earlier and forward of Wall Road expectations of $1.31. Income rose 3% year-on-year to $1.175bn, additionally beating analyst forecasts of $1.166bn.
The corporate ended the quarter with 4,192 clients contributing greater than $100,000 in trailing 12-month income, an 8% improve from a 12 months earlier. Zoom additionally reported a trailing 12-month web greenback enlargement fee for enterprise clients of 98%, a key metric of progress and buyer retention.
Regardless of the stable earnings and income efficiency, web money circulation fell to $489.3m from $588.2m in the identical quarter final 12 months. The corporate closed the quarter with $7.8bn in money, money equivalents and marketable securities.
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The value of bitcoin (BTC-USD) has risen above $110,000 for the primary time in its historical past, after surging practically 50% since April.
The record-breaking rally takes the cryptocurrency above its earlier all-time-high of simply over $109,000, which it reached in January.
“Now that January’s excessive has been surpassed — and the 50% upside from April’s lows has been achieved — bitcoin enters blue sky territory with tailwinds within the type of institutional momentum and a beneficial US regulatory surroundings,” Antoni Trenchev, co-founder of digital asset buying and selling platform Nexo, informed Reuters.
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Lawmakers in Washington are closing in on agreeing guidelines that may present a regulatory framework for stablecoins, a type of digital greenback extensively used for funds and buying and selling in crypto markets. The tokens goal to keep up a gradual worth in opposition to the greenback however sit exterior the regulated banking system.
“The US debt instability has in all probability helped too,” Deutsche Financial institution analysts stated.
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Shares in EasyJet (EZJ.L) have been decrease because the airline reported a headline pre-tax lack of £394m for the six months to the tip of March.
That’s in contrast with losses of £350m a 12 months in the past, however represents a “slight enchancment” of about £50m when the later timing of Easter this 12 months is taken under consideration, the airline firm stated.
Seasonal demand for air journey means airways usually report losses within the winter adopted by income in the summertime.
EasyJet stated the variety of passengers it carried within the first three months of the 12 months was 18.2 million, up 8% in contrast with a 12 months in the past.
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Its package deal vacation arm recorded pre-tax income of £44m for the six months to 31 March. That could be a 42% improve year-on-year.
EasyJet chief government Kenton Jarvis stated: “We proceed to see robust demand for EasyJet’s flights and holidays, as we entice extra clients by way of our nice fares, pleasant service and unrivalled community of locations.
“We’re executing properly in opposition to our technique, to drive effectivity and improve our buyer expertise each within the sky and on the bottom.
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