WS #8373

The dominant signal in this window is a wave of after-hours earnings reports from major tech companies, creating a mixed but highly actionable picture for the next trading session. Snowflake (SNOW) delivered a strong beat, with EPS of $0.39 vs $0.32 est. and revenue of $1.391B vs $1.32B est., and announced a $6 billion five-year commitment to Amazon Web Services (AMZN) for AI infrastructure, sending SNOW up ~30% after hours. This is a high-significance positive for SNOW and AMZN. Conversely, Salesforce (CRM) beat Q1 estimates (EPS $3.88 vs $3.13 est., revenue $11.13B vs $11.06B est.) but issued Q2 revenue guidance below expectations, causing shares to dip after hours. Zscaler (ZS) plunged 31% on weak guidance and sales leadership departures. Synopsys (SNPS) beat estimates and raised its annual forecast on AI chip design demand, but shares slipped after hours. HP (HPQ) popped 4.5% on a beat-and-raise quarter driven by AI PC demand. Marvell Technology (MRVL) reported in-line results with better-than-expected guidance, supporting the AI/semiconductor theme. The Fed's Cook delivered hawkish comments, stating risks are tilted toward higher inflation and she is prepared to raise rates if disinflation doesn't appear, which could pressure growth stocks. Geopolitically, an Israeli airstrike on Gaza City killed 7 Palestinians, and Ukrainian drone strikes hit oil loading piers in Tuapse, Russia, but these are not yet at a scale to move broad markets. The narrative arc is ESCALATING for tech earnings dispersion, with clear winners (SNOW, HPQ, MRVL) and losers (ZS, CRM on guidance).