WS #8371
The data dump is dominated by a wave of strong tech earnings after the close, with Salesforce, Snowflake, Marvell, Synopsys, HP, and others all beating estimates. Salesforce's Q1 beat was solid (EPS $3.88 vs $3.12, revenue $11.13B vs $11.05B) but full-year revenue guidance came in slightly light ($45.9-$46.2B vs $46.12B consensus), causing a mixed after-hours reaction. Snowflake was the standout, surging 25-30% after hours on a massive earnings beat (EPS $0.39 vs $0.14, revenue $1.39B vs $1.32B) and a $6B AWS commitment. Marvell also rose on strong Q1 results and raised guidance. HP beat but cut full-year GAAP profit outlook. Synopsys raised guidance. Meta is testing paid subscription tiers ($3.99-$7.99/month), which could boost revenue diversification. Geopolitical risks remain elevated: Israel ordered evacuation of Tyre, India-Pakistan tensions simmer, and Iran deal talks continue. Fed Governor Cook's speech was balanced, seeing disinflation resuming without rate hikes. The narrative arc is STABLE on tech earnings (strong beats but mixed guidance) and ESCALATING on geopolitical risks.
Key developments
- Snowflake Q1 earnings beat, stock surges 25%+ after hours on $6B AWS deal
- Salesforce beats Q1 estimates but full-year revenue guidance slightly light, stock mixed
- Meta testing paid subscription tiers across Instagram, Facebook, WhatsApp
- Marvell Technology beats Q1 estimates, raises guidance, stock rises 3.5% after hours
- HP beats Q2 estimates but cuts full-year GAAP profit outlook
- Synopsys beats Q2 estimates and raises full-year guidance
- Israel orders evacuation of Lebanese city of Tyre amid bombardment
- Fed's Cook sees disinflation resuming without rate hikes