‘Hey Computer, Make me a Million Bucks’

Welcome to LazyListen. This is The Daily Rip for today. Wednesday’s trading session saw the market take a slight dip, with oil prices retreating modestly.

However, the after-hours earnings reports from major software and semiconductor companies sent stocks soaring, pushing the Dow Jones Industrial Average to a fresh all-time high. Let’s dive into the details of what moved the markets, the key earnings highlights, and what to watch for tomorrow. Starting with the broader market setup, chip stocks cooled off during Wednesday’s regular session after a strong recent run.

Notably, Micron Technology replaced Walmart in the trillion-dollar market capitalization club, maintaining some of the gains from its impressive surge on Tuesday. Despite the slight pullback in chips during the day, investor sentiment remained cautiously optimistic. I.

infrastructure and software report earnings. I. was front and center.

I. data centers, reported a record fiscal first quarter. Revenue came in at just over two point four billion dollars, beating analyst expectations and the company’s own guidance midpoint.

-related bookings as the key driver. I. infrastructure.

However, the stock’s recent rally means investors are watching closely to see if Marvell can justify its elevated valuation going forward. Some market participants are comparing the potential for Marvell to replicate the kind of extended run seen by Micron, but the setup remains tricky given the high expectations already priced in. Snowflake, the cloud data platform that helps companies store, share, and analyze enterprise data, stole the show after hours.

The company beat earnings expectations with adjusted earnings per share of thirty-nine cents, compared to the expected thirty-two cents, and revenue of one point thirty-nine billion dollars, topping estimates of one point thirty-two billion. Product revenue grew an impressive thirty-four percent year over year. -driven growth trajectory.

-powered software growth. I. ecosystem.

I. agent tools, also reported earnings that beat estimates. Adjusted earnings per share came in at three dollars and eighty-eight cents, with revenue just over eleven billion dollars.

However, the stock slipped about three percent after hours because the guidance for the next quarter came in slightly below expectations, ranging between eleven point twenty-seven billion and eleven point thirty-five billion dollars, just shy of the consensus estimate of around eleven point thirty-six billion. I. I.

era. -driven acceleration. HP Inc.

showed some life in its hardware business, rising four percent after reporting second-quarter revenue up nine percent to fourteen point four billion dollars. Earnings per share rose seventeen percent on a GAAP basis and twenty-one percent on a non-GAAP basis. -powered workstations and edge devices.

I. PCs and connected devices as its next growth leg. However, printing revenue remained flat, and total hardware units declined seven percent.

Inventory levels rose, and GAAP operating margins slipped to four point two percent from four point nine percent. I. angle is promising, HP still faces margin challenges as it transitions its hardware business.

On the Stocktwits front, several names caught attention but didn’t move the broader market significantly. MGM Resorts jumped nine percent after receiving dual Wall Street upgrades, reflecting optimism about the company’s growth prospects. AST SpaceMobile popped eight percent following the Federal Communications Commission’s commercial approval, a key regulatory milestone for the satellite communications company.

On the downside, Everpure dropped nearly three percent ahead of its quarterly earnings report, while Coterra Energy fell nine percent after closing its merger with Devon Energy. PDD Holdings tumbled over ten percent following a significant earnings miss, and Boston Scientific dropped over twelve percent after the FDA delayed approval of a key medical device. Looking ahead to tomorrow, investors should keep an eye on several important economic data releases scheduled around twelve thirty Eastern Time.

These include the Core Personal Consumption Expenditures Price Index, which is a key inflation gauge closely watched by the Federal Reserve; the second estimate for GDP growth rate; initial jobless claims; and durable goods orders excluding transportation. Shortly after these reports, Federal Reserve President John Williams is scheduled to speak, which could provide further insight into the Fed’s policy outlook. Earnings reports will also be in focus tomorrow, with several notable companies set to release results.

In the pre-market session, watch for XPeng and Li Auto, two leading Chinese electric vehicle manufacturers, as well as Kohl’s and Best Buy in the retail sector. I. and technology trends are impacting their businesses.

That wraps up your Daily Rip market recap. -driven earnings momentum, and be ready for tomorrow’s key economic data and earnings reports. Thanks for listening, and catch you next time on LazyListen.

Thanks for listening. Catch you next time on LazyListen.