U.S. stocks on the move as S&P 500 stays flat
The S&P 500 was flat on Tuesday, with AI-related gains offset by higher government bond yields. Reuters also highlighted several individual stock moves, including Snowflake, Cboe, Oracle and Carnival.
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Snowflake posts Q2 revenue and EPS above estimates
Snowflake reported fiscal second-quarter revenue of $1.55 billion and adjusted EPS of 62 cents, both above analyst estimates. It also raised third-quarter product revenue guidance and full-year adjusted operating margin outlook.
Snowflake surges 30%
Snowflake beats earnings expectations, plans to spend $6 billion on Amazon cloud services. The company will use Amazon's Arm-based Graviton chips.