Whenever stock markets give up on Snap (SNAP), the stock bounces back. SNAP traded below $4.00 last month, only to rebound to around $6.00. In the first quarter, however, the company posted results that might send shares lower.
Snap reported revenue growing by 12% Y/Y to $1.53 billion. It lost $0.05 a share. The firm blamed intense competition for advertising dollars. Pinterest (PINS), Meta Platforms (META), and even TikTok took its business.
Apollo Global Management (APO) posted Q1 non-GAAP EPS of $1.94 on Wednesday. Its assets under management reached a milestone, at $1.03 trillion. That is up an impressive 31% Y/Y. CEO Marc Rowan is still cautious. He said, according to CNBC, that the odds of a market correction are 30% to 35%.
Rowan cited geopolitical shifts, inflation stemming from restrictions in labor and trade, and AI replacing or enhancing jobs as the major risks.
CDW (CDW) slumped by 20% yesterday. Markets reacted to Q1 revenue growth of 9.2% Y/Y to $5.68 billion.
Cencora (COR) extended its downtrend. The stock fell by 17.38% after posting weak guidance. In Q2, the firm earned $4.75 a share. Although it will buy back $1 billion of its stock, its increased guidance of $17.65 - $17.90 for FY 2026 failed to please shareholders.
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