Stock Market Today: DELL Earnings Rally, AVGO & SNOW Report

**Marley Kayden** (0:00)
Welcome to The Wrap. I'm Marley Kayden, here to take you through today's market action. Let's take a look at where the markets closed to end the day. The S&P 500 and the Dow snapped a three-day losing streak and closed up a half a percent each. The Nasdaq had a small gain. Ten of the 11 S&P 500 sectors finished in the green with materials and communications rallying more than 1 percent, while real estate was down 8 tenths of a percent. As we look at stocks that were on the move, Dell was the biggest winner in the S&P 500 a day after strong earnings, gaining more than 15 percent. The company's $7.03 adjusted EPS was 43 percent higher than the estimates, while revenue of nearly $47 billion beat by $2 billion and grew $18 billion from the same quarter last year. Meanwhile, Palo Alto Networks was the worst performer, falling 9 percent despite strong earnings and raising its revenue outlook, although its gross margins declined and the company said that costs would grow faster than revenue. Broadcom was falling in post-market trading. Company beat unadjusted EPS and its revenue of $29.6 billion was just ahead of expectations, but its fourth quarter revenue guidance of $34.8 billion was below with a $35.05 billion consensus. CEO Hock Tan said that demand for custom AI accelerators and networking, quote, continues to be very strong. Meanwhile, Snowflake surged after hours with adjusted EPS of 62 cents well above the 45 cent forecast and sales of $1.55 billion also well above the consensus growing 35% year over year. The company continues to see strong demand for its AI products with the CEO saying, quote, the results demonstrate how the AI transformation that's sweeping enterprises is compounding Snowflake's advantage. As we look at what we're watching for tomorrow, international trade in goods, weekly jobless claims, and the ISM services index are out in the morning. Postmarket will hear from Zscaler, Lululemon, and DocuSign. That is going to do it for the wrap. I'm Marley Kayden, remember you can tune in 24-7 to schwabnetwork.com and subscribe to our YouTube channel.