All articles tagged with #snowflake
Asos confirmed that hackers sent an unauthorized notification to its app users, claiming to have compromised its Snowflake data instance. The message, which demanded engagement via a Telegram channel, caused a 10% drop in share value. The retailer states that basic personal information may have been accessed, but payment details and passwords remain secure. The National Cyber Security Centre is assisting with the investigation.
Jim Cramer says Snowflake is primed for a huge move after a blowout quarter, with product revenue up and full‑year guidance raised, triggering a sharp pre‑market rally. Broadcom posted solid results but earned a more cautious verdict from Cramer as its AI revenue ramp and margins remain the key test for 2028 targets.
Snowflake delivered a stronger-than-expected Q2 with adjusted EPS of $0.62 on $1.55 billion in revenue (up 35% year over year) and raised its full-year product revenue guidance to $6.07 billion (about 36% YoY). The company highlighted AI-driven growth, with product revenue up 37% YoY and accelerating momentum across its CoCo and CoWork offerings, 692 net new customers (up 32% YoY) and 829 Forbes Global 2000 customers. For Q3 FY2027, Snowflake guided product revenue of roughly $1.588–$1.593 billion (about 37–38% YoY). CFO noted accelerating growth while expanding operating margins, and analysts called the beat-and-raise a sign of a healthier, broad-based AI-driven cycle. Shares climbed about 23% in premarket trading.
Snowflake (SNOW) stock jumped in early trading after its Q2 revenue rose 35% to $1.55 billion, with AI-driven adoption helping drive roughly half the growth. The company posted adjusted EPS of $0.62 for fiscal 2027’s second quarter, and management highlighted AI tools like Cortex and CoWork as major adopters. The stock has gained more than 40% year to date.
U.S. stocks opened higher as oil prices steadied and Treasury yields pulled back, with the Dow up about 0.7%, the S&P 500 up around 0.5%, and the Nasdaq up roughly 0.5%. Broadcom fell more than 5% after its earnings, while Snowflake jumped about 25% on strong revenue guidance, underscoring a mixed backdrop for growth names amid AI optimism. The 10-year yield eased to about 4.753%, and traders priced in roughly a 68% chance of a 25-basis-point Fed rate hike at the Sept. 16 meeting, as investors await Friday’s NFP data. Brent crude sits near $91 amid U.S.-Iran tensions, highlighting inflation risks ahead of payrolls and other data.
Snowflake topped Q2 revenue and adjusted EPS expectations, highlighted momentum from its CoCo AI coding agent with 9,100 accounts, and raised fiscal Q3 product revenue and full-year targets, sending the stock higher after the report.
Enterprise software stocks rose as investors rotated into AI-driven names, with ServiceNow jumping about 12% after earnings and AI-adoption conference chatter, Snowflake adding roughly 4.5% after a big earnings session (following a prior 36% jump), Oracle up around 8%, Microsoft higher by about 4% ahead of Build 2026, and other software names like Atlassian, GitLab and monday.com also advancing as enterprise AI adoption accelerates.
Asia-Pacific stocks rose as investors balanced renewed Iran tensions against signs of a ceasefire, with Nikkei 225 up 0.88%, Kospi up 2.68%, Hang Seng up 0.68%, CSI 300 up 0.38%, and ASX 200 up 0.72%. In the U.S., major indices closed at records after Snowflake jumped 36.5% on strong AI guidance and a $6 billion AWS deal, while futures were broadly flat as talks on a temporary Iran ceasefire progressed.
Investors are differentiating winners from losers in software shares after fears of an AI-driven SaaSpocalypse, with Snowflake jumping on news of a 31% mid-year revenue rise aided by its AI data-analysis tools and its CoCo coding assistant. But competition from Databricks, SAP, Microsoft and Google is likely to intensify, and Snowflake remains unprofitable for now and is not in the S&P 500, suggesting the SaaS renaissance may be real but not guaranteed.
Stock futures point to a mixed open as oil ticks higher on Iran tensions, Snowflake surges after a stronger quarter and an $6B AWS investment plus AI chip moves, JPMorgan signals potential acquisitions up to $20B in coming years, and Robinhood rolls out AI-powered trading tools for regular investors, with ongoing debates over EV strategies between Lamborghini and Ferrari.
Snowflake's shares surged about 36.5% in intraday trading to around $239, buoyed by rising enterprise AI demand and a strategic partnership with AWS, underscoring Snowflake's growing position as an AI-enabled cloud data warehouse play.
A ransomware group called ShinyHunters breached Rockstar Games through Anodot, a third‑party analytics provider, gaining access to Rockstar’s Snowflake data and threatening to leak it unless paid; Rockstar says only limited non‑material company information was accessed and players aren’t affected, though the incident underscores ongoing ransomware risks for game studios and their vendors.
Rockstar Games confirmed a breach via a third‑party provider, with the hacking group ShinyHunters saying it gained access to Snowflake data and demanding a ransom by April 14. The company says the compromised data was limited in scope and has no impact on its organization or players; it’s unclear exactly what data was affected, but it appears to be corporate data rather than player information, potentially including financials or contracts. This follows a notorious GTA VI leak in 2022.
Snowflake (SNOW) fell Thursday as AI-disruption fears and a softer U.S. growth backdrop pressured the software space; the piece notes competition from new AI agents eroding pricing power for legacy SaaS and macro data showing GDP growth at 0.5% in Q4 2025. SNOW traded around $134.49, well below its 20- and 100-day moving averages, with the RSI near oversold, indicating ongoing bearish momentum.