00:03 Speaker A
Let’s get to some of today’s trending tickers. We are watching Core Weve, Snowflake and Amer Sports. First up, we’ve got Core Weve in the Neo Cloud stocks. Now, they seem to be under pressure on this new agreement and new enterprise basically that Alphabet’s Google is creating with Blackstone. It’s going to get an initial seed funding of $5 billion worth of equity from Blackstone. eventually will have a value of $25 billion. It sounds like according to Bloomberg.
00:35 Speaker A
And it’s effectively going to be a competitor to some of these other companies, um is going to create data centers that are powered with Google’s TPUs. Um while Google has sold these types of chips in limited fashion to a couple of customers, this would open them to a broader audience here. So potentially being seen as a threat to some of these other companies. Um and you’re seeing here Alphabet and Blackstone shares a little bit under pressure as well.
01:08 Speaker A
That third ticker you see there, the Blackstone Digital infrastructure Trust, um it had an IPO for that vehicle earlier this month. It is a real estate investment trust that is designed to buy data centers. So, Blackstone has been very, very active in this particular area. Um next up, we’re looking at shares of Snowflake, which are on the rise today. Um over at Bank of America, they’ve raised the price uh target for Snowflake to 205 from 195. You can see the shares trading just over 174 today.
01:46 Speaker A
Snowflake is going to be reporting its earnings next Wednesday, um after the close of trading. And basically, Bank of America says those results are going to look good here. They say that the company is a share gainer in the attractive and growing AI business intelligence opportunity. They said they’re going to be watching how much the company’s product revenue beats estimates. They’re going to be looking at adoption trends for its cortex code um agent product.
02:12 Speaker A
Um and also the company recently, according to B of A, somewhat abruptly changed its chief revenue officer, so they’re going to be looking at signals on that transition. Um so those shares trading up 6% today uh on that note and ahead of the earnings. And then finally, Amer Sports, I wish that Miles Udland was here today because this appears to be the Salomon Salomon trade, those shoes um selling well at Amer Sports, those shares are up about three and a half percent or so.
02:43 Speaker A
The company raising its forecast, the retailer raising its forecast for the full year. says revenue will now rise by 20 to 26%. It also raised its earnings per share forecast. and analysts again pointing to that strength in Solomon shares, uh, Solomon sales, excuse me, as well as Arc, doing well and Amer Sports. Um, and City’s saying, following the concern on weaker outdoor margins last quarter, that the outdoor segment margins were up 480 basis points, which should be well received and it looks like they are indeed being well-received.
