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☆ What options traders mean when they say they are 'buying volatility'
▼ + stars: | 2024-05-31 | by ( Michael Khouw | ) www.cnbc.com time to read: +7 min

Institutional options traders frequently refer to "buying" or "selling" volatility, but what does this mean? These allow investors to trade future realized volatility against current implied volatility. A buyer of a variance swap pays the "implied volatility" - consider this to be the market's current expectation for future volatility over some predetermined period, in return for receiving the "realized volatility". A variance swap buyer will profit if realized volatility exceeds implied volatility, and a seller will profit if implied volatility exceeds realized. The first is that a VIX future is not as reactive to changes in the VIX Index as one might expect.

Persons: Goldman Sachs, Goldman, I'm, I've Organizations: Snowflake Inc, Cloud Locations: Snowflake, The Bozeman , Montana, San Francisco

☆ Snowflake sees product revenue above estimates on AI-driven demand
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 29 (Reuters) - Snowflake (SNOW.N) forecast quarterly product revenue above estimates on Wednesday, as increasing adoption of artificial intelligence boosted demand for its data cloud offerings. Snowflake expects product revenue for the fourth quarter to be in the range of $716 million to $721 million, which is above analysts' average estimate of $700.3 million, according to data from LSEG. For the third quarter, the company's revenue rose 32% to $734.2 million, above estimates of $713.1 million. Product revenue, which is derived from the consumption of compute, storage, and data transfer resources, was above estimates at $698.5 million for the quarter ended Oct. 31. The company also raised its product revenue forecast for 2024 to $2.65 billion from $2.60 billion.

Persons: Brendan McDermid, Frank Slootman, Arsheeya, Maju Samuel Organizations: Snowflake Inc, New York Stock Exchange, REUTERS, LSEG, Gartner, Thomson Locations: New York, U.S, Bozeman , Montana, Bengaluru

☆ WATCH: As the retail media industry booms, experts say data collaboration and technology will be the proving ground for success for advertisers
▼ + stars: | 2023-09-25 | by ( Ashley Davis | ) www.businessinsider.com time to read: +8 min

Three retail media experts discuss the unique advantages and challenges of this evolving market. The conversation was part of Insider's event, "A New Era of Retail Media," which took place on Tuesday, September 19. At a recent event hosted by Insider and presented by Snowflake, retail experts shared insights into how retail media is changing the advertising industry. Argyilan added that retail media is quickly gaining in popularity because of opportunities that didn't exist in other channels previously. But retail media is providing advertisers with opportunities to get more creative than the standard ad banner featuring a product.

Persons: Lauren Johnson, Kristi Argyilan, Glen Conybeare, Erin Foxworthy, Conybeare, that's, Argyilan, Foxworthy, That's, It's, it's Organizations: Retail Media, Service, Retail, Albertsons Media, IPG Media Brands, Snowflake Inc Locations: Wall, Silicon, Snowflake

☆ Jim Cramer says this enterprise software stock has more room to run on AI craze
▼ + stars: | 2023-09-08 | by ( Morgan Chittum | ) www.cnbc.com time to read: +1 min

A banner for Snowflake Inc. is displayed at the New York Stock Exchange to celebrate the company's initial public offering, Sept. 16, 2020. Snowflake (SNOW) rose more than 3% Friday after DA Davidson initiated research coverage of the stock with a buy rating. If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. CNBC's Jim Cramer agrees that Snowflake is poised to benefit from the craze, citing the company's strong leadership from CEO Frank Slootman and its "great business model" on integrating generative AI into its products. They're really making a comeback," Jim said, citing upbeat earnings from the sector, including a strong quarter and rosy guidance from Salesforce (CRM), which is a holding in the CNBC Investing Club's portfolio.

Persons: Davidson, Jim Cramer's, CNBC's Jim Cramer, Frank Slootman, They're, Jim Organizations: Inc, New York Stock Exchange, CNBC

☆ Instacart's IPO filing sparked an online spat between cloud rivals Snowflake and Databricks
▼ + stars: | 2023-09-02 | by ( Ari Levy | ) www.cnbc.com time to read: +3 min

One of Instacart's board members is Frank Slootman, the CEO of Snowflake , a publicly traded company that helps businesses store and manage hefty workloads in the cloud. Slootman joined Instacart's board in 2021 and, because of that relationship, the company has to disclose its business ties to Snowflake. In May, the company published a blog post titled "How Instacart Ads Modularized Data Pipelines With Lakehouse Architecture and Spark." The post, which described software underpinning Instacart's ads infrastructure, included discussion of a migration to Databricks' Lakehouse technology and the cost savings that followed. Representatives from Instacart, Snowflake and Databricks declined to to comment.

Persons: Frank Slootman, Slootman, Instacart, Snowflake, Databricks pounced, Databricks, You've Organizations: Inc, New York Stock Exchange, Employees, Twitter Locations: Snowflake, Instacart

☆ Snowflake beats quarterly estimates on strong demand for data management services
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +2 min

Shares of the company rose more than 3% in trading after the bell. The Bozeman, Montana-based company's revenue rose about 36% to $674 million for the quarter ended July 31, above analysts' average estimate of $662.2 million, according to Refinitiv data. Excluding items, the second-quarter adjusted profit per share was 22 cents, compared with analysts' average estimate of 10 cents. Snowflake's second-quarter product revenue rose 37% to $640.2 million, above market estimates of $623 million. The company forecast third-quarter product revenue in the range of $670 million to $675 million, compared with analysts' average estimate of $670.8 million, according to Refinitiv data.

Persons: Brendan McDermid, Frank Slootman, Snowflake, Jaspreet Singh, Krishna Chandra Organizations: Snowflake Inc, New York Stock Exchange, REUTERS, Nvidia, Thomson Locations: New York, U.S, Bozeman , Montana, Bengaluru

☆ SIGN UP NOW: Experts discuss the evolving role of retail media and the challenges of brand advertising
▼ + stars: | 2023-08-22 | by ( Business Insider | ) www.businessinsider.com time to read: +2 min

On September 19, Insider is hosting "A New Era of Retail Media," a free virtual event at noon ET featuring speakers from Snowflake. Retail media experts will share skills and strategies brand owners can use to expand their advertising reach. Combining robust first-party data on shoppers, exclusive inventory, and engaging ad formats, retail media is now the third-largest digital channel in the world. Insider's virtual event, "A New Era of Retail Media'' presented by Snowflake, takes place on Tuesday, September 19, 2023, at noon ET. Speakers include:Kristi Argyilan - Senior Vice President, Albertsons Media CollectiveGlen Conybeare - Executive Lead, Retail Media, IPG MediabrandsErin Foxworthy - Industry Principal, Agencies & Advertisers, Snowflake Inc.We hope to see you there!

Persons: Snowflake, Lauren Johnson, Kristi Argyilan, IPG, Erin Foxworthy Organizations: Retail Media, Retail, Business, Service, Albertsons Media, Industry, Snowflake Inc Locations: Snowflake, Wall, Silicon

Microsoft shares rallied 7.2% following upbeat quarterly earnings and sales, including of robust artificial intelligence products. The Dow Jones Industrial Average (.DJI) fell 228.96 points, or 0.68%, to 33,301.87; and the S&P 500 (.SPX) lost 15.64 points, or 0.38%, at 4,055.99. The S&P 500 technology index (.SPLRCT) was the sole gainer among the benchmark's 11 major industry sectors, adding 1.7%. Of the 163 S&P 500 companies that reported first-quarter profit through Wednesday morning, 79.8% topped analysts' expectations, as per Refinitiv IBES data. It helped push the S&P 500 bank index (.SPXBK) down 1.4% on the day.

SummarySummary Companies Microsoft up as quarterly results top estimatesAlphabet gains on buyback plans, ad sales beatActivision Blizzard down as UK blocks Microsoft dealIndexes: Dow slips 0.01%, S&P up 0.30%, Nasdaq climbs 1.23%April 26 (Reuters) - The tech-heavy Nasdaq advanced on Wednesday as strong results from Microsoft and Alphabet offset concerns over rising interest rates and their effect on the U.S. economy. Earnings forecasts have improved, with analysts expecting a 3.2% contraction in first-quarter profit for S&P 500 companies compared with a 5.2% decline estimated at the start of the earnings season. Of the 163 S&P 500 companies that reported first-quarter profit through Wednesday, 79.8% topped analysts' expectations, as per Refinitiv IBES data. PacWest Bancorp (PACW.O) gained 14.2% as the regional lender beat estimates for first-quarter profit and managed to stabilize deposit outflows. The S&P index recorded five new 52-week highs and seven new lows, while the Nasdaq recorded 42 new highs and 300 new lows.

Microsoft Corp (MSFT.O) climbed 8.2% in premarket trading after it beat estimates for quarterly results, and said that artificial intelligence products were stimulating sales. Earnings forecasts have improved, with analysts expecting a 3.9% contraction in first-quarter profit for S&P 500 companies compared with a 5.2% decline estimated at the beginning of the earnings season. Of the 124 S&P 500 companies that reported first-quarter profit through Tuesday, 79% topped analysts' expectations, as per Refinitiv IBES data. Meta Platforms Inc (META.O) is scheduled to report results after market close on Wednesday. ET, Dow e-minis were up 62 points, or 0.18%, S&P 500 e-minis were up 11.5 points, or 0.28%, and Nasdaq 100 e-minis were up 139.75 points, or 1.09%.

SummarySummary Companies Microsoft up as quarterly results top forecastsCloud firms gain on Microsoft earnings cheerActivision Blizzard down as UK blocks Microsoft dealIndexes: Dow off 0.02%, S&P up 0.16%, Nasdaq climbs 1%April 26 (Reuters) - The tech-heavy Nasdaq advanced on Wednesday as strong Microsoft results offset concerns over rising interest rates and their effect on the U.S. economy, while an upbeat forecast from Boeing further boosted sentiment. Earnings forecasts have improved, with analysts expecting a 3.9% contraction in first-quarter profit for S&P 500 companies compared with a 5.2% decline estimated at the beginning of the earnings season. Of the 124 S&P 500 companies that reported first-quarter profit through Tuesday, 79% topped analysts' expectations, as per Refinitiv IBES data. Meta Platforms Inc (META.O) is scheduled to report results after market close on Wednesday. Declining issues outnumbered advancers by a 1.09-to-1 ratio on the NYSE, while advancers outnumbered decliners by a 1.04-to-1 ratio on the Nasdaq.

☆ Data startup Cybersyn raises $63 mln in Snowflake-led funding round
▼ + stars: | 2023-04-12 | by ( Krystal Hu | ) www.reuters.com time to read: +2 min

April 12 (Reuters) - Data startup Cybersyn said it has raised $62.9 million from investors including Snowflake Inc (SNOW.N), Coatue Management and Sequoia Capital, its chief executive told Reuters. The investment marks the first time that Snowflake has led a startup funding round, as the data cloud giant looks to expand its data marketplace for enterprise users to acquire live and ready-to-use dataset. Cybersyn plans to use the capital to expand its eight-person team and acquire more proprietary data to create data products with a focus on macroeconomic trends. Besides using public data sources, the startup is also working on identifying and partnering with proprietary data sources, including buying aggregated anonymized data from non-data provider corporations. Snowflake Marketplace allows users to access third-party data and pay for specific datasets, and combine it with their own corporate data using its platform.

☆ Cramer's lightning round: Parker-Hannifin is a buy
▼ + stars: | 2023-02-07 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

I would buy it here." Waste Management Inc : "Everyone thought that quarter was not that great and was telling me to buy Republic Services . Loading chart...Illumina Inc : "If you're going to be in that business, there's only two. Loading chart...TG Therapeutics Inc : "This is [run by CEO] Mike Weiss. I think that you've got a winner, and I need to hear it from you."

☆ Analysis: Wood’s ARK slammed by higher interest rates in 2022 along with other growth funds
▼ + stars: | 2022-12-27 | by ( David Randall | ) www.reuters.com time to read: +4 min

The ARK Innovation Fund has lost around 67% year to date, more than tripling the decline of the S&P 500 index (.SPX). With the S&P 500 on pace for its biggest annual decline since the Great Financial Crisis, few funds are likely to escape 2022 unscathed. Wood's fund ranked 3,544 among all 3552 actively-managed U.S. equity mutual funds tracked by Morningstar. The worst performing fund of the year, by comparison, was the Voya Russia fund, which is down 92% for the year to date. CRASH LANDINGOther funds that soared in recent years on the backs of large bets on technology stocks fell on hard times in 2022.

☆ Investment in cloud firms plunged 42% in Q3, says venture capitalist Accel
▼ + stars: | 2022-10-18 | by ( Supantha Mukherjee | ) www.reuters.com time to read: +2 min

While 51 cloud software developers raised funds at valuations of over $1 billion in the first quarter of 2022, only three did so in the third quarter, Accel's 2022 Euroscape report showed. The valuation of publicly listed cloud companies has also dropped to $1.2 trillion from $2.8 trillion in the last 12 months, Accel said. Rising interest rates and climbing inflation has led to contracted software valuations," said Philippe Botteri, a partner at Accel. "But we firmly believe that strong secular trends, like the shift to cloud, will continue to propel European and Israeli SaaS forward." There is around $770 billion available to buy cloud companies, with $440 billion of cash on the balance sheets of strategic investors and $330 billion of dry powder from technology-focused private equity funds, Accel estimated.

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